Aeluma Inc

aeluma.com

What Do They Do?

Develops photodetectors, imaging arrays and lasers for communications, consumer electronics, and defense and aerospace customers.

How Do They Make Money?

Government agencies and prime contractors pay for research and development contracts, while commercial customers buy development services and small-volume product orders. Contracts may be cost-reimbursement or fixed-price, and payment is received within one year.

FY2026 revenue

Who Are Their Customers?

Government agencies and contractors, semiconductor and optical component companies, and makers of communications, consumer, defense and aerospace, and quantum equipment are customers. Aeluma works directly with customers and through manufacturing, packaging, module, system-integration, and government prime-contractor partners.

Direct customers above 10% of revenue, FY2026

of revenue from two customers (59%, 14%)

FY2025: 71% from one customer

Do Revenues Turn Into Profits?

No. It lost $9.2M in FY2026.

Operating income, FY2026

−228% of revenue

▲ +376% (Loss) vs FY2025 (−$2.1M, −46%)

Net income, FY2026

−205% of revenue

▲ +203% (Loss) vs FY2025 (−$3M, −65%)

Free cash flow, FY2026

−88% of revenue

▲ +199% (Loss) vs FY2025 (−$1.3M, −28%)

How Are They Changing?

Growing. Revenue grew 23.1x in 3 years, from $193.3K in FY2023 to $4.5M in FY2026, about 185% a year.

Broader product platform The older report centered on photodetector arrays for imaging; the latest also describes developing lasers and nonlinear photonics for communications and quantum uses.

From sampling to sales The older report described wafer and chip deliveries mainly for research and sampling; the latest also describes government development contracts, commercial services, and initial product orders.

Who Do They Compete With?

Competes with Sony, Samsung, OmniVision, onsemi, STMicroelectronics, Panasonic, Canon, SK hynix, Hamamatsu, Sumitomo, Teledyne FLIR, and Excelitas

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