Aeluma, Inc. (ALMU) AI Stock Analysis

• Market Cap: $263.58M
• Dividend Yield: N/A
• Average Volume (3M): 390.29K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.36
• 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: 419,165
• 30 Day Avg. Volume: 390,287
• 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: 0.65
• Enterprise Value/Revenue: 30.82
• Enterprise Value/Gross Profit: 52.04
• Enterprise Value/Ebitda: -31.31
• 1Y Price Target: $25.50
• Price Target Upside: 72.76% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): -0.19
• Revenue Forecast (FY): $5.52M

• Rating: 52 Neutral
• Price Target: $16.00 ▲(8.40% Upside)

The score is held back primarily by ongoing large losses and continued negative operating/free cash flow, despite strong revenue growth and a very low-leverage balance sheet. Technicals are supportive with price above major moving averages and positive MACD, but valuation remains pressured because profitability is not yet established.

Positive Factors

Revenue growth & gross margin

Sustained ~19% TTM revenue growth combined with ~59% gross margin indicates robust product-market fit and scalable unit economics. Over 2-6 months this supports reinvestment in R&D and sales, helping margins sustain as revenue scales and subscription/license revenue compounds.

Conservative balance sheet

Very low leverage (debt-to-equity ~0.03) gives the company financial flexibility while it pursues growth and works toward profitability. This durable strength limits refinancing risk and provides runway to fund operations or strategic investments over the next several quarters.

Recurring & diversified revenue model

A mix of subscription, licensing and consulting creates recurring revenue and multiple monetization paths. Licensing and partnerships extend distribution while consulting deepens customer relationships, making revenue streams more predictable and scalable over months to quarters.

Negative Factors

Deep unprofitability

A ~-68% TTM net margin signals the business still operates at a large structural loss. Persisting high negative margins mean the firm must materially cut costs, raise prices, or grow revenues sharply to reach breakeven, a multi-quarter challenge that pressures long-term capital allocation.

Negative operating & free cash flow

Negative operating and free cash flow indicate the company is consuming cash to run and invest in the business. Even with signs of improvement, continued cash burn requires external financing or rapid margin improvement to avoid funding stress across the next several quarters.

Poor capital returns / scale

A TTM ROE near -20% reflects inefficient use of capital and ongoing losses. For a small team, converting revenue growth into positive returns and operating leverage is a key structural hurdle; weak returns make funding and scaling initiatives harder without profit progress.

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

Strong TTM revenue growth (~+19%) and healthy gross margin (~59%) are positives, but the company remains deeply unprofitable (TTM net margin around -68%) with negative operating and free cash flow. The balance sheet is a key support (very low debt-to-equity ~0.03), yet sustained losses and cash burn remain the central risk.

Income Statement

TTM (Trailing-Twelve-Months) revenue is growing strongly (about +19%), and gross margin is healthy for the business (~59%), indicating decent product-level economics. However, the company remains deeply unprofitable, with large operating losses and a net margin around -68% in TTM (Trailing-Twelve-Months). While losses have improved materially versus earlier years (when margins were extremely negative), profitability is still not in sight and the cost structure remains the key weakness.

Balance Sheet

The balance sheet appears conservatively levered, with low debt relative to equity in TTM (Trailing-Twelve-Months) (debt-to-equity ~0.03), which reduces financial risk and helps the company fund growth while unprofitable. That said, returns on equity are meaningfully negative (TTM (Trailing-Twelve-Months) ROE around -20%), reflecting ongoing losses and inefficient use of capital. Overall, leverage is a clear strength, but sustained losses remain a balance-sheet risk over time if cash burn persists.

Cash Flow

Cash generation remains a weak spot: operating cash flow and free cash flow are negative in TTM (Trailing-Twelve-Months), meaning the business is still consuming cash to operate and invest. The cash burn trend looks less severe than prior periods (free cash flow has improved versus earlier years), but the company is not yet self-funding. The main upside is that cash outflow is not worsening sharply, but the core issue is continued negative operating cash flow.

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: Negative
• Last Price: 14.76
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ALMU, the sentiment is Negative. The current price of 14.76 is below the 20-day moving average (MA) of 18.85, below the 50-day MA of 17.10, and below the 200-day MA of 16.51, indicating a bearish trend. The MACD of -0.66 indicates Positive momentum. The RSI at 34.80 is Neutral, neither overbought nor oversold. The STOCH value of 17.12 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ALMU.

Aeluma, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NVEC	81 Outperform	$312.29M	22.54	23.36%	6.28%	-9.48%	-14.28%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
MRAM	57 Neutral	$240.22M	-420.40	-0.91%	―	-0.41%	-134.49%
VLN	56 Neutral	$157.64M	-5.33	-23.56%	―	7.53%	-15.00%
ATOM	54 Neutral	$78.89M	-3.69	-116.86%	―	-94.26%	3.20%
ALMU	52 Neutral	$263.58M	-54.03	-17.77%	―	307.44%	14.77%
AXTI	52 Neutral	$1.04B	-35.57	-12.00%	―	-4.54%	-119.39%

Aeluma, Inc. Corporate Events

Aeluma Shareholders Reelect Directors and Confirm Auditors

On January 15, 2026, Aeluma, Inc. held its 2025 Annual General Meeting of shareholders, where 9,892,101 shares of common stock, representing 55.4% of the voting power eligible to vote, were present in person or by proxy, establishing a quorum. At the meeting, shareholders re-elected Class I directors Steven P. DenBaars and John Paglia to three-year terms on the board of directors and approved the re-appointment of Rose, Snyder & Jacobs LLP as the company’s independent auditors for the fiscal year ending June 30, 2026, with authorization for the board to set their remuneration, reinforcing continuity in both governance and auditing oversight.

The most recent analyst rating on (ALMU) stock is a Buy with a $24.00 price target. To see the full list of analyst forecasts on Aeluma, Inc. stock, see the ALMU Stock Forecast page.