Aeluma, Inc. (ALMU) AI Stock Analysis

• Market Cap: $383.23M
• Dividend Yield: N/A
• Average Volume (3M): 386.59K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.26
• Revenue Growth: 307.44%
• EPS Growth: 14.77%
• Country: US
• Employees: 11
• Sector: Technology
• Sector Strength: 88
• Industry: Semiconductors
• EPS (TTM): -0.03
• Shares Outstanding: 17,857,862
• 10 Day Avg. Volume: 384,608
• 30 Day Avg. Volume: 386,592
• PEG Ratio: 1.89
• Price to Book (P/B): 12.04
• Price to Sales (P/S): 46.21
• P/FCF Ratio: -164.68
• Enterprise Value/Market Cap: 0.61
• Enterprise Value/Revenue: 42.22
• Enterprise Value/Gross Profit: 71.28
• Enterprise Value/Ebitda: -42.89
• 1Y Price Target: $25.50
• Price Target Upside: 12.83% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): -0.19
• Revenue Forecast (FY): $5.50M

• Rating: 59 Neutral
• Price Target: $23.50 ▲(3.98% Upside)

The score is driven primarily by mixed fundamentals: strong growth and low leverage are outweighed by large losses and ongoing cash burn. Technicals add support due to a strong uptrend, while valuation remains pressured by unprofitability. Recent corporate events are constructive, improving liquidity and growth runway.

Positive Factors

Revenue growth & gross margin

Sustained revenue growth with a ~59% gross margin indicates scalable product economics and market demand for its AI platforms. Durable margin levels support operating leverage as sales scale, improving the path to eventual profitability provided SG&A and R&D spend are controlled over the medium term.

Conservative balance sheet

Very low leverage reduces financial risk while the business is unprofitable, preserving flexibility to fund R&D and commercialization. A conservative capital structure lowers refinancing and interest-rate exposure, extending runway and supporting strategic investments without near-term solvency pressure.

IPO, capital raise and operational traction

Recent IPO and $39.2M in capital materially extend the company’s runway and credibility. Secured R&D contracts and a growing customer base validate product-market fit and support scale-up. The announced scalable manufacturing capabilities position the firm for entry into larger quantum markets long term.

Negative Factors

Large net losses

A ~-68% net margin signals substantial structural loss-making that erodes equity and compresses future returns. Persistent large losses necessitate continued external funding or major margin improvement, increasing dilution risk and creating uncertainty about when sustainable profitability will be achieved.

Negative operating & free cash flow

Ongoing negative operating and free cash flow mean the company cannot self-fund growth and must access capital markets repeatedly. Even if burn has moderated, continued cash outflows limit optionality for R&D, hiring, or sales expansion and elevate funding and execution risk over the medium term.

Poor returns on capital

Negative ROE (~-20%) shows capital is not generating positive returns, undermining shareholder value creation. If sustained, this poor capital efficiency raises the bar for management to demonstrate improved project selection, pricing or cost control before profitable scaling can justify further investment.

Aeluma, Inc. Business Overview & Revenue Model

Company Description

Aeluma, Inc. develops optoelectronic devices for sensing and communications applications. It manufactures devices using compound semiconductor materials on diameter silicon wafers that are used to manufacture mass market microelectronics. The company was incorporated in 2019 and is headquartered in Goleta, California.

How the Company Makes Money

Aeluma, Inc. generates revenue through a combination of subscription-based software services, licensing of its proprietary technology, and consulting services. The primary revenue stream comes from subscription fees charged to businesses that utilize its AI and machine learning platforms for data analytics. Additionally, Aeluma earns income through licensing agreements with other companies that wish to integrate its technology into their own products. The company also offers consulting services, helping clients implement AI solutions tailored to their specific needs, which contributes to its revenue. Strategic partnerships with technology firms and industry leaders further bolster its earnings by expanding market reach and enhancing product offerings.

Aeluma, Inc. Financial Statement Overview

Summary

Aeluma, Inc. shows strong revenue growth but struggles with profitability, as evidenced by negative net profit and EBIT margins. The balance sheet is stable with low leverage, but the company faces challenges in generating returns on equity and converting income into cash.

Income Statement

Aeluma, Inc. shows a significant revenue growth rate of 28.6% in the latest period, indicating strong top-line expansion. However, the company is struggling with profitability, as evidenced by negative net profit and EBIT margins. The gross profit margin is relatively healthy at 59.6%, but the negative EBITDA margin highlights operational inefficiencies.

Balance Sheet

The company's balance sheet reflects a low debt-to-equity ratio of 0.05, suggesting conservative leverage. However, the return on equity is negative, indicating that the company is not generating profits from its equity base. The equity ratio is strong, showing that a significant portion of the company's assets is financed by equity.

Cash Flow

Aeluma, Inc. has a negative operating cash flow, which raises concerns about its ability to generate cash from operations. The free cash flow to net income ratio is positive, suggesting some level of cash efficiency despite the negative free cash flow growth rate. The operating cash flow to net income ratio is negative, indicating challenges in converting income into cash.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	5.57M	4.67M	918.55K	193.34K	0.00	0.00
Gross Profit	3.30M	2.78M	299.31K	83.94K	0.00	0.00
EBITDA	-5.48M	-1.89M	-4.25M	-5.30M	-3.63M	-11.67K
Net Income	-3.79M	-3.02M	-4.56M	-5.38M	-3.45M	-13.47K
Balance Sheet
Total Assets	42.65M	19.41M	3.84M	7.16M	5.93M	154.19K
Cash, Cash Equivalents and Short-Term Investments	38.15M	15.74M	1.29M	5.07M	3.74M	38.30K
Total Debt	1.18M	941.00K	1.07M	458.66K	615.69K	0.00
Total Liabilities	1.76M	1.51M	1.57M	1.05M	831.14K	147.91K
Stockholders Equity	40.89M	17.90M	2.28M	6.11M	5.10M	6.28K
Cash Flow
Free Cash Flow	-1.17M	-1.31M	-3.78M	-4.31M	-3.21M	-107.61K
Operating Cash Flow	-852.80K	-1.15M	-3.45M	-3.64M	-2.25M	-1.38K
Investing Cash Flow	-403.62K	-161.00K	-321.84K	-672.54K	-955.67K	-106.23K
Financing Cash Flow	36.05M	15.76M	-4.00K	5.64M	161.93K	145.70K

Aeluma, Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 22.60
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ALMU, the sentiment is Positive. The current price of 22.6 is above the 20-day moving average (MA) of 18.14, above the 50-day MA of 16.14, and above the 200-day MA of 15.74, indicating a bullish trend. The MACD of 1.76 indicates Negative momentum. The RSI at 64.69 is Neutral, neither overbought nor oversold. The STOCH value of 77.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ALMU.

Aeluma, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NVEC	68 Neutral	$314.63M	22.76	22.20%	6.28%	-9.48%	-14.28%
MRAM	65 Neutral	$260.56M	-456.00	-0.91%	―	-0.41%	-134.49%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
ALMU	59 Neutral	$383.23M	―	-17.77%	―	307.44%	14.77%
VLN	58 Neutral	$213.94M	-7.23	-23.56%	―	7.53%	-15.00%
AXTI	50 Neutral	$1.22B	-41.92	-12.00%	―	-4.54%	-119.39%
ATOM	46 Neutral	$75.08M	-3.51	-116.86%	―	-94.26%	3.20%

Aeluma, Inc. Corporate Events

Aeluma, Inc. Reports FY2025 Results and Nasdaq IPO

Aeluma, Inc. announced its FY2025 results on September 9, 2025, highlighting significant financial and operational achievements, including a Nasdaq IPO and capital raises totaling $39.2 million. The company reported a revenue increase to $4.7 million from $0.9 million in FY24, secured six R&D contracts, and engaged with 20 active customers. Aeluma also unveiled a scalable manufacturing process applicable to quantum computing and communication systems, positioning itself for growth in multiple high-growth markets.

The most recent analyst rating on (ALMU) stock is a Buy with a $25.00 price target. To see the full list of analyst forecasts on Aeluma, Inc. stock, see the ALMU Stock Forecast page.