Aeluma, Inc

paragraph:1: EX-99.1

paragraph:2: 2

paragraph:3: ea028994301ex99-1.htm

paragraph:4: PRESS RELEASE OF AELUMA, INC. DATED MAY 13, 2026

paragraph:5: Exhibit 99.1

paragraph:6: Aeluma Announces Third Quarter Fiscal 2026 Financial Results

paragraph:7: ● Recently Secured More Than $4 Million in Contracts for Quantum Dot Lasers and Materials

paragraph:8: ● Received NASA Award for Integrated Quantum Dot Lasers

paragraph:9: ● Announced Partnerships with Tower Semiconductor and Sumitomo Chemical Advanced Technologies for Wafer Production and Fabrication

paragraph:10: ● Appointed Vice President of Materials Operations and Vice President of Strategic Partnerships and Ecosystem

paragraph:11: ● Cash and Cash Equivalents as of March 31, 2026 of $37.8 Million

paragraph:12: GOLETA, CA – May 13, 2026 –

paragraph:13: Aeluma, Inc. (NASDAQ: ALMU) (“Aeluma” or the “Company”), a transformative semiconductor company specializing in high-performance and scalable technologies, today reported financial results for its third quarter of fiscal 2026 ended March 31, 2026.

paragraph:14: Management Commentary

paragraph:15: “This quarter reinforced Aeluma’s strategy as we have experienced a major uptick in commercial interest,” said Jonathan Klamkin, Ph.D., Founder and CEO of Aeluma. “The massive AI data center buildout is outpacing the scale of the photonics supply chain. Customers are considering our technology to address near-term supply gaps, and for long-term growth opportunities.”

paragraph:16: “The industry is experiencing constraints around indium phosphide technology that we highlighted years ago—and that dynamic is creating both urgency and opportunity for Aeluma,” Dr. Klamkin continued. “These market forces validate the core thesis behind our platform and underscore the relevance of the solutions we’ve been developing.”

paragraph:17: “We have made considerable progress in our commercialization path with important manufacturing partnerships to enable scaling, senior hires to support operations and strategy, and additional non-dilutive capital. With six new development engagements totaling $5 million in value, we have already met our objective of onboarding three to seven new contracts for fiscal 2026.”

paragraph:18: “Our recent participation at the Optical Fiber Communication (OFC) Conference reinforced that the industry is looking beyond short-term fixes and toward platforms that can enable long-term growth. That shift in perspective plays directly to Aeluma’s strengths. Beyond AI infrastructure, we continue to advance opportunities across mobile, defense, and quantum. Engagements are becoming more targeted and more closely aligned with commercialization paths,” concluded Dr. Klamkin.

paragraph:19: Recent Company Highlights

paragraph:20: ● Growing Market Traction and Visibility: Increased engagement with customers, partners, and government agencies across AI datacom, mobile, defense, and quantum. Highly successful participation at OFC in Los Angeles, California, AngelTech Innovate Summit in Brussels, Belgium, and SPIE Defense + Security Conference in National Harbor, Maryland.

paragraph:21: ● Leadership and Team Expansion: Added experienced leadership and technical talent, including Christiane Poblenz, Ph.D., as Vice President of Materials Operations in March, Willy Rachmady, Ph.D., as Vice President of Strategic Partnerships and Ecosystem in April, as well as other key hires in operations and engineering.

paragraph:22: ● Expanded Engagements with Manufacturing Partners: Strengthened relationships with manufacturing partners to accelerate transition to production, including announced partnerships with Tower Semiconductor and Sumitomo Chemical Advanced Technology.

paragraph:23: ● Continued R&D Contracts Progress: Achieved fiscal 2026 goal of three to seven new contracts with six contracts to date totaling $5 million in value. Recent contracts include more than $4 million from U.S. government agencies to accelerate scaling Aeluma’s semiconductor heterogeneous integration platform for laser, high-speed datacom, and quantum applications. Also, received NASA funding to accelerate commercialization of integrated quantum dot lasers for silicon photonics.

paragraph:24: ● Expanded Intellectual Property Portfolio: Continued to advance portfolio with two provisional applications, nine nonprovisional applications and continuations, and seven patents issued. The total number of issued and pending patents is 36.

paragraph:25: Fiscal Q3 2026 Financial Results

paragraph:26: ● Revenue was $1.2 million compared to $1.3 million in the third quarter of 2025, and $1.3 million in the second quarter of 2026. Revenue in the quarter was primarily from R&D contracts.

paragraph:27: ● GAAP net loss was $1.8 million, or $0.10 per basic and diluted share, compared to a net gain of $1.5 million, or $0.12 per basic share and $0.11 per diluted share, for the same period last year and net loss of $1.9 million, or ($0.11) per basic and diluted share, in the prior quarter. The year-over-year change in net income was primarily due to a one-time $2.3 million gain in the fair value of derivative liabilities recorded in the third quarter of fiscal 2025.

paragraph:28: ● Adjusted EBITDA loss was $911 thousand, compared to a gain of $109 thousand in the same period last year, and in line with the prior quarter. Adjusted EBITDA loss increased year over year primarily due to higher salaries, stock-based compensation and employee benefits for new key positions to support business expansion and scaling operations.

paragraph:29: ● Cash and cash equivalents totaled $37.8 million at March 31, 2026, compared to $38.6 million at December 31, 2025.

paragraph:30: Fiscal Year 2026 Guidance and Strategic Priorities

paragraph:31: For the full fiscal year of 2026, Aeluma narrowed its previous revenue guidance to $4.2 million to $4.6 million from the previous range of $4.0 million to $6.0 million. Delays in execution of contracts, due to government shutdowns and other factors, led to postponement of initial start-of-work for several projects. The Company has made considerable progress on its strategic priorities for 2026, which emphasize manufacturing and commercialization moving forward:

paragraph:32: ● New Contract Wins: Achieved 2026 goal of three to seven new contracts with six contracts to date totaling $5 million in value, which provide non-dilutive funding for R&D and the growth of partnership opportunities.

paragraph:33: 2

paragraph:34: ● Team Expansion: Attracted top talent for key roles including Senior Vice President of Business Development and Product, Vice President of Operations, Vice President of Strategic Partnerships and Ecosystem, and others, to support growth of our business development and go-to-market team, technical leadership and staff, and operations team.

paragraph:35: ● Enhanced Manufacturing Readiness: Increased outsourced wafer manufacturing productivity and advanced supply chain partnerships including recently announced relationships with Tower Semiconductor and Sumitomo Chemical Advanced Technology.

paragraph:36: ● Go-to-Market Traction: Product roadmap being driven by continued progress in target commercial markets across mobile and consumer electronics, photonics for AI infrastructure, and defense and aerospace.

paragraph:37: Conference Call and Webcast

paragraph:38: Aeluma will host a conference call at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on May 13, 2026, to discuss the Company’s financial results and business outlook. Interested participants may access the conference the call by dialing (877) 317-6789 (domestic) or (412) 317-6789 (international) and referencing “Aeluma.” A live webcast of the call will be available on the “Investors” section of Aeluma’s website and can also be accessed by clicking here. A replay of the conference call will be available on Aeluma’s website shortly after the call concludes.

paragraph:39: Note about Non - GAAP Financial Measures

paragraph:40: This press release includes and makes reference to certain non-GAAP financial measures. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Aeluma believes that the presentation of non-GAAP financial measures provides important supplemental information to management and investors regarding financial and business trends relating to the Company’s financial condition and results of operations. Aeluma believes that these non-GAAP financial measures provide additional insight into Aeluma’s ongoing performance and core operational activities and has chosen to provide these measures for more consistent and meaningful comparison between periods. These measures should only be used to evaluate Aeluma’s results of operations in conjunction with the corresponding GAAP measures. The non-GAAP results exclude the effect of stock-based compensation, depreciation and amortization.

paragraph:41: This press release includes non-GAAP financial measures, including:

paragraph:42: ● Non-GAAP net income (loss), which is defined as GAAP net income (loss) plus stock-based compensation expenses, amortization of discount on convertible notes, and changes in fair value of derivative liabilities; and

paragraph:43: ● Adjusted EBITDA, defined as non-GAAP net income (loss) plus depreciation and amortization expenses, less interest income.

paragraph:44: A reconciliation between GAAP and non-GAAP financial results is provided in the financial statements portion of this press release.

paragraph:45: 3

paragraph:46: Forward-Looking Statements

paragraph:47: All statements in this press release that are not historical are forward-looking statements, including, among other things, statements relating to the Company’s expectations regarding its market position and market opportunity, expectations and plans as to its product development, manufacturing and sales, and relations with its partners and investors. These statements are not historical facts but rather are based on the Company’s current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expect,” “intend,” “plan,” “project,” “believe,” “estimate,” and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company’s control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.

paragraph:48: About Aeluma, Inc.

paragraph:49: Aeluma (NASDAQ: ALMU) is a transformative semiconductor company specializing in high-performance photonic and electronic technologies that scale. The company’s proprietary platform combines compound semiconductors with scalable manufacturing used for mass market microelectronics to enable volume production and large-scale integration. Applications for Aeluma’s technology include mobile, AI, defense and aerospace, robotics, automotive, AR/VR, and quantum. Headquartered in Goleta, California, Aeluma operates state-of-the-art R&D and manufacturing capabilities for semiconductor wafer production, quick-turn chip fabrication, rapid prototyping, test and validation. Aeluma also partners with production-scale fabrication foundries, packaging, and integration companies. For more information, visit www.aeluma.com.

paragraph:50: Company:

paragraph:51: Aeluma, Inc.

paragraph:52: (805) 351-2707

paragraph:53: info@aeluma.com

paragraph:54: Investor Contact:

paragraph:55: Financial Profiles, Inc.

paragraph:56: Alex Villalta

paragraph:57: (310) 622-8227

paragraph:58: ir@aeluma.com

paragraph:59: 4

paragraph:60: Aeluma, Inc. and Subsidiary

paragraph:61: Condensed Consolidated Balance Sheets

paragraph:62: ($ in thousands)

paragraph:63: March 31, 2026

paragraph:64: (unaudited)

paragraph:65: June 30, 2025

paragraph:66: Assets

paragraph:67: Current assets:

paragraph:68: Cash and cash equivalents

paragraph:69: $ 37,780

paragraph:70: $ 3,628

paragraph:71: Certificate of deposit

paragraph:72: -

paragraph:73: 12,112

paragraph:74: Accounts receivable

paragraph:75: 1,062

paragraph:76: 962

paragraph:77: Prepaids and other current assets

paragraph:78: 1,332

paragraph:79: 633

paragraph:80: Total current assets

paragraph:81: 40,174

paragraph:82: 17,335

paragraph:83: Property and equipment:

paragraph:84: Equipment

paragraph:85: 2,131

paragraph:86: 1,692

paragraph:87: Leasehold improvements

paragraph:88: 547

paragraph:89: 547

paragraph:90: Accumulated depreciation

paragraph:91: (1,344 )

paragraph:92: (1,021 )

paragraph:93: Property and equipment, net

paragraph:94: 1,334

paragraph:95: 1,218

paragraph:96: Right of use asset - operating

paragraph:97: 987

paragraph:98: 836

paragraph:99: Other assets

paragraph:100: 22

paragraph:101: 17

paragraph:102: Total assets

paragraph:103: $ 42,517

paragraph:104: $ 19,406

paragraph:105: Liabilities and stockholders’ equity

paragraph:106: Current liabilities:

paragraph:107: Accounts payable

paragraph:108: $ 973

paragraph:109: $ 361

paragraph:110: Accrued expenses and other current liabilities

paragraph:111: 370

paragraph:112: 206

paragraph:113: Lease liability - operating, current portion

paragraph:114: 196

paragraph:115: 138

paragraph:116: Total current liabilities

paragraph:117: 1,539

paragraph:118: 705

paragraph:119: Lease liability - operating, long-term portion

paragraph:120: 893

paragraph:121: 803

paragraph:122: Total liabilities

paragraph:123: 2,432

paragraph:124: 1,508

paragraph:125: Commitments and contingencies

paragraph:126: -

paragraph:127: -

paragraph:128: Stockholders’ equity:

paragraph:129: Preferred stock

paragraph:130: -

paragraph:131: -

paragraph:132: Common stock

paragraph:133: 2

paragraph:134: 2

paragraph:135: Additional paid-in capital

paragraph:136: 61,875

paragraph:137: 34,542

paragraph:138: Accumulated deficit

paragraph:139: (21,792 )

paragraph:140: (16,646 )

paragraph:141: Total stockholders’ equity

paragraph:142: 40,085

paragraph:143: 17,898

paragraph:144: Total liabilities and stockholders’ equity

paragraph:145: $ 42,517

paragraph:146: $ 19,406

paragraph:147: 5

paragraph:148: Aeluma, Inc. and Subsidiary

paragraph:149: Condensed Consolidated Statements of Operations (unaudited)

paragraph:150: Three Months Ended

paragraph:151: Nine Months Ended

paragraph:152: ($ in thousands, except per share data)

paragraph:153: March 31, 2026

paragraph:154: December 31, 2025

paragraph:155: March 31, 2025

paragraph:156: March 31, 2026

paragraph:157: March 31, 2025

paragraph:158: Revenue

paragraph:159: $ 1,222

paragraph:160: $ 1,272

paragraph:161: $ 1,255

paragraph:162: $ 3,879

paragraph:163: $ 3,348

paragraph:164: Operating expenses:

paragraph:165: Cost of revenue

paragraph:166: 836

paragraph:167: 919

paragraph:168: 311

paragraph:169: 2,456

paragraph:170: 1,105

paragraph:171: Research and development

paragraph:172: 882

paragraph:173: 906

paragraph:174: 471

paragraph:175: 2,394

paragraph:176: 1,130

paragraph:177: General and administrative

paragraph:178: 1,629

paragraph:179: 1,528

paragraph:180: 1,305

paragraph:181: 4,843

paragraph:182: 2,287

paragraph:183: Total operating expenses

paragraph:184: 3,347

paragraph:185: 3,353

paragraph:186: 2,087

paragraph:187: 9,693

paragraph:188: 4,522

paragraph:189: Loss from operations

paragraph:190: (2,125 )

paragraph:191: (2,081 )

paragraph:192: (832 )

paragraph:193: (5,814 )

paragraph:194: (1,174 )

paragraph:195: Other income (expense):

paragraph:196: Interest income

paragraph:197: 325

paragraph:198: 228

paragraph:199: 3

paragraph:200: 668

paragraph:201: 3

paragraph:202: Amortization of discount on convertible notes

paragraph:203: -

paragraph:204: -

paragraph:205: (287 )

paragraph:206: -

paragraph:207: (715 )

paragraph:208: Changes in fair value of derivative liabilities

paragraph:209: -

paragraph:210: -

paragraph:211: 2,577

paragraph:212: -

paragraph:213: (278 )

paragraph:214: Total other income (expense), net

paragraph:215: 325

paragraph:216: 228

paragraph:217: 2,293

paragraph:218: 668

paragraph:219: (990 )

paragraph:220: Income (loss) before income tax expense

paragraph:221: (1,800 )

paragraph:222: (1,853 )

paragraph:223: 1,461

paragraph:224: (5,146 )

paragraph:225: (2,164 )

paragraph:226: Income tax expense

paragraph:227: -

paragraph:228: -

paragraph:229: -

paragraph:230: -

paragraph:231: -

paragraph:232: Net income (loss)

paragraph:233: $ (1,800 )

paragraph:234: $ (1,853 )

paragraph:235: $ 1,461

paragraph:236: $ (5,146 )

paragraph:237: $ (2,164 )

paragraph:238: Net income (loss) per share:

paragraph:239: Basic

paragraph:240: $ (0.10 )

paragraph:241: $ (0.11 )

paragraph:242: $ 0.12

paragraph:243: $ (0.30 )

paragraph:244: $ (0.18 )

paragraph:245: Diluted

paragraph:246: $ (0.10 )

paragraph:247: $ (0.11 )

paragraph:248: $ 0.11

paragraph:249: $ (0.30 )

paragraph:250: $ (0.18 )

paragraph:251: Weighted average common shares outstanding:

paragraph:252: Basic

paragraph:253: 18,061,402

paragraph:254: 17,875,930

paragraph:255: 12,472,061

paragraph:256: 17,354,370

paragraph:257: 12,286,284

paragraph:258: Diluted

paragraph:259: 18,061,402

paragraph:260: 17,875,930

paragraph:261: 13,206,919

paragraph:262: 17,354,370

paragraph:263: 12,286,284

paragraph:264: Book value per share

paragraph:265: $ 2.22

paragraph:266: $ 2.28

paragraph:267: $ 1.44

paragraph:268: $ 2.22

paragraph:269: $ 1.44

paragraph:270: 6

paragraph:271: Aeluma, Inc. and Subsidiary

paragraph:272: Condensed Consolidated Statements of Cash Flows (unaudited)

paragraph:273: Nine Months Ended

paragraph:274: March 31,

paragraph:275: ($ in thousands)

paragraph:276: 2026

paragraph:277: 2025

paragraph:278: Operating activities:

paragraph:279: Net loss

paragraph:280: $ (5,146 )

paragraph:281: $ (2,164 )

paragraph:282: Adjustments to reconcile net loss to net cash used in operating activities:

paragraph:283: Amortization of deferred compensation

paragraph:284: -

paragraph:285: 17

paragraph:286: Stock-based compensation expense

paragraph:287: 3,211

paragraph:288: 1,149

paragraph:289: Depreciation and amortization expense

paragraph:290: 325

paragraph:291: 307

paragraph:292: Amortization of discount on convertible notes

paragraph:293: -

paragraph:294: 715

paragraph:295: Changes in fair value of derivative liabilities

paragraph:296: -

paragraph:297: 278

paragraph:298: Changes in operating assets and liabilities:

paragraph:299: Accounts receivable

paragraph:300: (100 )

paragraph:301: (1,083 )

paragraph:302: Prepaids and other current assets

paragraph:303: (699 )

paragraph:304: (192 )

paragraph:305: Other assets

paragraph:306: (7 )

paragraph:307: -

paragraph:308: Accounts payable

paragraph:309: 612

paragraph:310: (144 )

paragraph:311: Accrued expenses and other current liabilities

paragraph:312: 161

paragraph:313: 34

paragraph:314: Net cash used in operating activities

paragraph:315: (1,643 )

paragraph:316: (1,083 )

paragraph:317: Investing activities:

paragraph:318: Purchase of equipment

paragraph:319: (439 )

paragraph:320: (85 )

paragraph:321: Net cash used in investing activities

paragraph:322: (439 )

paragraph:323: (85 )

paragraph:324: Financing activities:

paragraph:325: Proceeds from stock option exercise

paragraph:326: 103

paragraph:327: 10

paragraph:328: Proceeds from stock warrant exercise

paragraph:329: 690

paragraph:330: -

paragraph:331: Proceeds from convertible notes issuance

paragraph:332: -

paragraph:333: 3,145

paragraph:334: Proceeds from public offering, net of offering costs

paragraph:335: 23,385

paragraph:336: 12,587

paragraph:337: Payment for taxes related to net share settlement of restricted stock units

paragraph:338: (56 )

paragraph:339: -

paragraph:340: Net cash provided by financing activities

paragraph:341: 24,122

paragraph:342: 15,742

paragraph:343: Net change in cash and cash equivalents, and certificate of deposit

paragraph:344: 22,040

paragraph:345: 14,574

paragraph:346: Cash and cash equivalents, and certificate of deposit, beginning of period

paragraph:347: 15,740

paragraph:348: 1,291

paragraph:349: Cash and cash equivalents, and certificate of deposit, end of period

paragraph:350: $ 37,780

paragraph:351: $ 15,865

paragraph:352: Supplemental non-cash disclosures:

paragraph:353: Right of use asset - operating obtained in exchange for lease liability - operating

paragraph:354: $ 274

paragraph:355: $ -

paragraph:356: Conversion of convertible notes to stockholders’ equity

paragraph:357: $ -

paragraph:358: $ 1,667

paragraph:359: Conversion of derivative liabilities to stockholders’ equity

paragraph:360: $ -

paragraph:361: $ 2,471

paragraph:362: 7

paragraph:363: Aeluma, Inc. and Subsidiary

paragraph:364: Reconciliation of GAAP and Non-GAAP Financial Measures (unaudited)

paragraph:365: Three Months Ended

paragraph:366: Nine Months Ended

paragraph:367: ($ in thousands, except per share data)

paragraph:368: March 31, 2026

paragraph:369: December 31, 2025

paragraph:370: March 31, 2025

paragraph:371: March 31, 2026

paragraph:372: March 31, 2025

paragraph:373: GAAP net income (loss)

paragraph:374: $ (1,800 )

paragraph:375: $ (1,853 )

paragraph:376: $ 1,461

paragraph:377: $ (5,146 )

paragraph:378: $ (2,164 )

paragraph:379: Non-GAAP adjustments:

paragraph:380: Stock-based compensation

paragraph:381: 1,099

paragraph:382: 1,056

paragraph:383: 833

paragraph:384: 3,211

paragraph:385: 1,149

paragraph:386: Consulting and advisory

paragraph:387: -

paragraph:388: -

paragraph:389: 3

paragraph:390: -

paragraph:391: 17

paragraph:392: Amortization of discount on convertible notes

paragraph:393: -

paragraph:394: -

paragraph:395: 287

paragraph:396: -

paragraph:397: 715

paragraph:398: Changes in fair value of derivative liabilities

paragraph:399: -

paragraph:400: -

paragraph:401: (2,577 )

paragraph:402: -

paragraph:403: 278

paragraph:404: Total adjustments to GAAP net loss

paragraph:405: 1,099

paragraph:406: 1,056

paragraph:407: (1,454 )

paragraph:408: 3,211

paragraph:409: 2,159

paragraph:410: Non-GAAP net income (loss)

paragraph:411: $ (701 )

paragraph:412: $ (797 )

paragraph:413: $ 7

paragraph:414: $ (1,935 )

paragraph:415: $ (5 )

paragraph:416: Depreciation & amortization

paragraph:417: 115

paragraph:418: 108

paragraph:419: 105

paragraph:420: 325

paragraph:421: 307

paragraph:422: Interest income

paragraph:423: (325 )

paragraph:424: (228 )

paragraph:425: (3 )

paragraph:426: (668 )

paragraph:427: (3 )

paragraph:428: Adjusted EBITDA

paragraph:429: $ (911 )

paragraph:430: $ (917 )

paragraph:431: $ 109

paragraph:432: $ (2,278 )

paragraph:433: $ 299

paragraph:434: GAAP net income (loss) per share – basic

paragraph:435: $ (0.10 )

paragraph:436: $ (0.11 )

paragraph:437: $ 0.12

paragraph:438: $ (0.30 )

paragraph:439: $ (0.18 )

paragraph:440: Non-GAAP adjustments

paragraph:441: 0.06

paragraph:442: 0.07

paragraph:443: (0.12 )

paragraph:444: 0.19

paragraph:445: 0.18

paragraph:446: Non-GAAP net loss per share – basic

paragraph:447: $ (0.04 )

paragraph:448: $ (0.04 )

paragraph:449: $ -

paragraph:450: $ (0.11 )

paragraph:451: $ -

paragraph:452: GAAP net income (loss) per share – diluted

paragraph:453: $ (0.10 )

paragraph:454: $ (0.11 )

paragraph:455: $ 0.11

paragraph:456: $ (0.30 )

paragraph:457: $ (0.18 )

paragraph:458: Non-GAAP adjustments

paragraph:459: 0.06

paragraph:460: 0.07

paragraph:461: (0.11 )

paragraph:462: 0.19

paragraph:463: 0.18

paragraph:464: Non-GAAP net loss per share – diluted

paragraph:465: $ (0.04 )

paragraph:466: $ (0.04 )

paragraph:467: $ -

paragraph:468: $ (0.11 )

paragraph:469: $ -

paragraph:470: 8

paragraph:1: EX-99.1

paragraph:2: 2

paragraph:3: ea027642101ex99-1_aeluma.htm

paragraph:4: PRESS RELEASE OF AELUMA, INC. DATED FEBRUARY 11, 2026

paragraph:5: Exhibit 99.1

paragraph:6: Aeluma Announces Second Quarter Fiscal 2026 Financial Results

paragraph:7: ● Awarded NASA Contract for Quantum and RFSUNY Contract for Silicon Photonics Laser

paragraph:8: ● Recently Appointed Senior Vice President of Business Development and Product to Drive Go-to-Market Plan

paragraph:9: ● Cash and Cash Equivalents as of December 31, 2025 of $38.6 Million

paragraph:10: GOLETA, CA – February 11, 2026 –

paragraph:11: Aeluma, Inc. (NASDAQ: ALMU) (“Aeluma” or the “Company”), a transformative semiconductor company specializing in high-performance and scalable technologies, today reported financial results for its second quarter of fiscal 2026 ended December 31, 2025.

paragraph:12: Management Commentary

paragraph:13: “The second quarter marked another big step forward for Aeluma as we gear up for commercialization,” said Jonathan Klamkin, Ph.D., Founder and CEO of Aeluma. “We ramped engagements across our target markets and increased visibility at a major industry conference. We are experiencing growing and sustained interest in Aeluma as our technology takes shape and market demand increases across mobile, data centers, and defense.”

paragraph:14: “During the quarter, we continued to increase operations with foundry partners and are delighted with the performance, quality, and yield of wafers being tested at Aeluma’s facility,” Klamkin continued. “Relationships with customers and partners are strengthening, and we are fortunate that Bouch Nessar, our new Senior Vice President of Business Development and Product, has joined at this pivotal time to accelerate our go-to-market plan. Our IP portfolio also continues to expand, now counting 35 issued and pending patents, with our most recent application related to large-scale manufacturing of high-performance semiconductors.”

paragraph:15: Klamkin concluded, “We are receiving increasing requests for price quotations and have begun taking sales orders. While these initial orders are relatively small in value, this marks an important milestone toward broader market adoption. As we move through fiscal 2026, we are intensely focused on commercialization and building long-term value.”

paragraph:16: Recent Company Highlights

paragraph:17: ● Growing Market Traction and Visibility: Increased engagement with customers, partners, and government agencies, reflecting rising awareness of Aeluma’s scalable semiconductor platform across mobile and consumer electronics, data centers and AI infrastructure, and defense.

paragraph:18: ● Leadership and Team Expansion: Added experienced leadership and technical talent, including Bouchaib (Bouch) Nessar as Senior Vice President of Business Development and Product to drive go-to-market strategy, alongside other key hires in supply chain manufacturing, technology enablement, and engineering.

paragraph:19: ● Expanded Engagements with Manufacturing Partners: Continuing to fabricate wafers with foundries to qualify Aeluma processes for key end markets. Strengthened relationships with manufacturing partners to accelerate transition to production.

paragraph:20: ● Bolstered Wafer-Scale Test and Validation Capabilities: Following our November asset acquisition announcement, we installed and commissioned automated wafer probers and other equipment to accelerate testing of semiconductor photonic components. This will help qualify foundry manufacturing processes for key target markets.

paragraph:21: ● Continued R&D Contracts Progress: Building on recently announced NASA contract for quantum, we received additional contract funding from RFSUNY aimed at integrating quantum dot lasers directly into the AIM Photonics 300mm silicon photonics platform. Also received several additional award notices, reinforcing customer confidence in Aeluma’s technology and supporting expectations for additional contracts this year.

paragraph:22: ● Consortium Membership Expands Defense and Commercial Footprint: Admitted to MMEC consortium during the quarter, strengthening Aeluma’s position within the defense and commercial ecosystem and enhancing access to government and defense opportunities.

paragraph:23: ● Industry Award Validation: Recipient of 2025 LEAP Award for Advanced Materials Innovation, recognizing Aeluma’s disruptive SWIR platform. Award highlights Aeluma’s competitive advantage in bridging high-performance sensing with scalable and mass-market semiconductor manufacturing.

paragraph:24: ● Visibility and Marketing at SPIE Photonics West: Presented a breakthrough paper on scalable 200mm silicon integration for quantum photonics and hosted exhibition booth with strong customer and partner engagement.

paragraph:25: ● Expanded Intellectual Property Portfolio: Increased total issued and pending patents to 35, with a recent filing focused on scalable, high-performance photonics for 3D imaging and data center applications.

paragraph:26: Fiscal Q2 2026 Financial Results

paragraph:27: ● Revenue was $1.3 million compared to $1.6 million in the second quarter of 2025, and $1.4 million in the first quarter of 2025. Revenue in the quarter was primarily from R&D contracts.

paragraph:28: ● GAAP net loss was $1.9 million, or ($0.11) per basic and diluted share, compared to a net loss of $2.9 million, or ($0.24) per basic and diluted share, for the same period last year and net loss of $1.5 million, or ($0.09) per basic and diluted share, in the prior quarter. GAAP net loss increased from the prior quarter primarily due to higher salaries, stock-based compensation and employee benefits driven by new employees hires to support the expansion of the business and scaling of operations.

paragraph:29: ● Adjusted EBITDA loss was $917 thousand, compared to a gain of $647 thousand in the same period last year, and a loss of $450 thousand in the prior quarter. Adjusted EBITDA loss increased year over year and quarter over quarter primarily due to higher salaries, stock-based compensation and employee benefits driven by new employees hires.

paragraph:30: ● Cash and cash equivalents totaled $38.6 million at December 31, 2025, compared to $15.7 million at June 30, 2025.

paragraph:31: Fiscal Year 2026 Guidance and Strategic Priorities

paragraph:32: For the full fiscal year of 2026, based on current and anticipated market conditions, Aeluma continues to expect revenue in a range of $4.0 million to $6.0 million. The following reaffirms the Company’s strategic priorities for 2026:

paragraph:33: ● New Contract Wins: Three to seven new development contracts, which provide non-dilutive funding for R&D investments and the growth of partnership opportunities.

paragraph:34: ● Team Expansion: Growth of our business development and go-to-market team, technical leadership and staff, and operations team.

paragraph:35: ● Enhanced Manufacturing Readiness: Increased outsourced wafer manufacturing productivity. Expanded test and validation capabilities, technology qualification for targeted industries, and supply chain partnerships.

paragraph:36: ● Go-to-Market Traction: Product roadmap being driven by continued progress in target commercial markets across mobile and consumer electronics, photonics for AI infrastructure, and defense and aerospace.

paragraph:37: 2

paragraph:38: Conference Call and Webcast

paragraph:39: Aeluma will host a conference call at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on February 11, 2026, to discuss the Company’s financial results and business outlook. Interested participants may access the conference the call by dialing (877) 317-6789 (domestic) or (412) 317-6789 (international) and referencing “Aeluma.”

paragraph:40: A live webcast of the call will be available on the “Investors” section of Aeluma’s website and can also be accessed by clicking

paragraph:41: https://event.choruscall.com/mediaframe/webcast.html?webcastid=MTk9Bf6L. A replay of the conference call will be available on Aeluma’s website shortly after the call concludes.

paragraph:42: Note about Non - GAAP Financial Measures

paragraph:43: This press release includes and makes reference to certain non-GAAP financial measures. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Aeluma believes that the presentation of non-GAAP financial measures provides important supplemental information to management and investors regarding financial and business trends relating to the Company’s financial condition and results of operations. Aeluma believes that these non-GAAP financial measures provide additional insight into Aeluma’s ongoing performance and core operational activities and has chosen to provide these measures for more consistent and meaningful comparison between periods. These measures should only be used to evaluate Aeluma’s results of operations in conjunction with the corresponding GAAP measures. The non-GAAP results exclude the effect of stock-based compensation, depreciation and amortization.

paragraph:44: This press release includes non-GAAP financial measures, including:

paragraph:45: ● Non-GAAP net income (loss), which is defined as GAAP net income (loss) plus stock-based compensation expenses, amortization of discount on convertible notes, and changes in fair value of derivative liabilities; and

paragraph:46: ● Adjusted EBITDA, defined as non-GAAP net income (loss) plus depreciation and amortization expenses, less interest income.

paragraph:47: A reconciliation between GAAP and non-GAAP financial results is provided in the financial statements portion of this press release.

paragraph:48: Forward-Looking Statements

paragraph:49: All statements in this press release that are not historical are forward-looking statements, including, among other things, statements relating to the Company’s expectations regarding its market position and market opportunity, expectations and plans as to its product development, manufacturing and sales, and relations with its partners and investors. These statements are not historical facts but rather are based on the Company’s current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expect,” “intend,” “plan,” “project,” “believe,” “estimate,” and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company’s control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.

paragraph:50: 3

paragraph:51: About Aeluma, Inc.

paragraph:52: Aeluma (NASDAQ: ALMU) is a transformative semiconductor company specializing in high-performance photonic and electronic technologies that scale. The company’s proprietary platform combines compound semiconductors with scalable manufacturing used for mass market microelectronics to enable volume production and large-scale integration. Applications for Aeluma’s technology include mobile, AI, defense and aerospace, robotics, automotive, AR/VR, and quantum. Headquartered in Goleta, California, Aeluma operates state-of-the-art R&D and manufacturing capabilities for semiconductor wafer production, quick-turn chip fabrication, rapid prototyping, test and validation. Aeluma also partners with production-scale fabrication foundries, packaging, and integration companies. For more information, visit www.aeluma.com.

paragraph:53: Company:

paragraph:54: Aeluma, Inc.

paragraph:55: (805) 351-2707

paragraph:56: info@aeluma.com

paragraph:57: Investor Contact:

paragraph:58: Financial Profiles, Inc.

paragraph:59: Moira Conlon & Alex Villalta

paragraph:60: (310) 622-8227

paragraph:61: ir@aeluma.com

paragraph:62: 4

paragraph:63: Aeluma, Inc. and Subsidiary

paragraph:64: Condensed Consolidated Balance Sheets

paragraph:65: ($ in thousands)

paragraph:66: December 31, 2025

paragraph:67: (unaudited)

paragraph:68: June 30, 2025

paragraph:69: Assets

paragraph:70: Current assets:

paragraph:71: Cash and cash equivalents

paragraph:72: $ 38,572

paragraph:73: $ 3,628

paragraph:74: Certificate of deposit

paragraph:75: -

paragraph:76: 12,112

paragraph:77: Accounts receivable

paragraph:78: 1,000

paragraph:79: 962

paragraph:80: Prepaids and other current assets

paragraph:81: 691

paragraph:82: 633

paragraph:83: Total current assets

paragraph:84: 40,263

paragraph:85: 17,335

paragraph:86: Property and equipment:

paragraph:87: Equipment

paragraph:88: 1,933

paragraph:89: 1,692

paragraph:90: Leasehold improvements

paragraph:91: 547

paragraph:92: 547

paragraph:93: Accumulated depreciation

paragraph:94: (1,229 )

paragraph:95: (1,021 )

paragraph:96: Property and equipment, net

paragraph:97: 1,251

paragraph:98: 1,218

paragraph:99: Right of use asset - operating

paragraph:100: 1,033

paragraph:101: 836

paragraph:102: Other assets

paragraph:103: 23

paragraph:104: 17

paragraph:105: Total assets

paragraph:106: $ 42,570

paragraph:107: $ 19,406

paragraph:108: Liabilities and stockholders’ equity

paragraph:109: Current liabilities:

paragraph:110: Accounts payable

paragraph:111: $ 184

paragraph:112: $ 361

paragraph:113: Accrued expenses and other current liabilities

paragraph:114: 449

paragraph:115: 206

paragraph:116: Lease liability - operating, current portion

paragraph:117: 192

paragraph:118: 138

paragraph:119: Total current liabilities

paragraph:120: 825

paragraph:121: 705

paragraph:122: Lease liability - operating, long-term portion

paragraph:123: 942

paragraph:124: 803

paragraph:125: Total liabilities

paragraph:126: 1,767

paragraph:127: 1,508

paragraph:128: Commitments and contingencies

paragraph:129: -

paragraph:130: -

paragraph:131: Stockholders’ equity:

paragraph:132: Preferred stock

paragraph:133: -

paragraph:134: -

paragraph:135: Common stock

paragraph:136: 2

paragraph:137: 2

paragraph:138: Additional paid-in capital

paragraph:139: 60,793

paragraph:140: 34,542

paragraph:141: Accumulated deficit

paragraph:142: (19,992 )

paragraph:143: (16,646 )

paragraph:144: Total stockholders’ equity

paragraph:145: 40,803

paragraph:146: 17,898

paragraph:147: Total liabilities and stockholders’ equity

paragraph:148: $ 42,570

paragraph:149: $ 19,406

paragraph:150: 5

paragraph:151: Aeluma, Inc. and Subsidiary

paragraph:152: Condensed Consolidated Statements of Operations (unaudited)

paragraph:153: Three Months Ended

paragraph:154: Six Months Ended

paragraph:155: ($ in thousands, except per share data)

paragraph:156: December 31,

paragraph:157: 2025

paragraph:158: September 30, 2025

paragraph:159: December 31,

paragraph:160: 2024

paragraph:161: December 31, 2025

paragraph:162: December 31, 2024

paragraph:163: Revenue

paragraph:164: $ 1,272

paragraph:165: $ 1,385

paragraph:166: $ 1,612

paragraph:167: $ 2,657

paragraph:168: $ 2,093

paragraph:169: Operating expenses:

paragraph:170: Cost of goods sold

paragraph:171: 919

paragraph:172: 701

paragraph:173: 584

paragraph:174: 1,620

paragraph:175: 899

paragraph:176: Research and development

paragraph:177: 906

paragraph:178: 606

paragraph:179: 268

paragraph:180: 1,512

paragraph:181: 669

paragraph:182: General and administrative

paragraph:183: 1,528

paragraph:184: 1,686

paragraph:185: 371

paragraph:186: 3,214

paragraph:187: 867

paragraph:188: Total operating expenses

paragraph:189: 3,353

paragraph:190: 2,993

paragraph:191: 1,223

paragraph:192: 6,346

paragraph:193: 2,435

paragraph:194: Income (loss) from operations

paragraph:195: (2,081 )

paragraph:196: (1,608 )

paragraph:197: 389

paragraph:198: (3,689 )

paragraph:199: (342 )

paragraph:200: Other income (expense):

paragraph:201: Interest income

paragraph:202: 228

paragraph:203: 115

paragraph:204: -

paragraph:205: 343

paragraph:206: -

paragraph:207: Amortization of discount on convertible notes

paragraph:208: -

paragraph:209: -

paragraph:210: (283 )

paragraph:211: -

paragraph:212: (428 )

paragraph:213: Changes in fair value of derivative liabilities

paragraph:214: -

paragraph:215: -

paragraph:216: (3,001 )

paragraph:217: -

paragraph:218: (2,855 )

paragraph:219: Total other income (expense), net

paragraph:220: 228

paragraph:221: 115

paragraph:222: (3,284 )

paragraph:223: 343

paragraph:224: (3,283 )

paragraph:225: Loss before income tax expense

paragraph:226: (1,853 )

paragraph:227: (1,493 )

paragraph:228: (2,895 )

paragraph:229: (3,346 )

paragraph:230: (3,625 )

paragraph:231: Income tax expense

paragraph:232: -

paragraph:233: -

paragraph:234: -

paragraph:235: -

paragraph:236: -

paragraph:237: Net loss

paragraph:238: $ (1,853 )

paragraph:239: $ (1,493 )

paragraph:240: $ (2,895 )

paragraph:241: $ (3,346 )

paragraph:242: $ (3,625 )

paragraph:243: Net loss per share – basic and diluted

paragraph:244: $ (0.11 )

paragraph:245: $ (0.09 )

paragraph:246: $ (0.24 )

paragraph:247: $ (0.20 )

paragraph:248: $ (0.30 )

paragraph:249: Weighted average common shares outstanding – basic and diluted

paragraph:250: 17,875,930

paragraph:251: 16,141,153

paragraph:252: 12,212,403

paragraph:253: 17,008,544

paragraph:254: 12,195,415

paragraph:255: Book value per share

paragraph:256: $ 2.28

paragraph:257: $ 2.53

paragraph:258: $ (0.08 )

paragraph:259: $ 2.28

paragraph:260: $ (0.08 )

paragraph:261: Aeluma, Inc. and Subsidiary

paragraph:262: Condensed Consolidated Statements of Cash Flows (unaudited)

paragraph:263: Six Months Ended December 31,

paragraph:264: ($ in thousands)

paragraph:265: 2025

paragraph:266: 2024

paragraph:267: Operating activities:

paragraph:268: Net loss

paragraph:269: $ (3,346 )

paragraph:270: $ (3,625 )

paragraph:271: Adjustments to reconcile net loss to net cash used in operating activities:

paragraph:272: Amortization of deferred compensation

paragraph:273: -

paragraph:274: 14

paragraph:275: Stock-based compensation expense

paragraph:276: 2,112

paragraph:277: 316

paragraph:278: Depreciation and amortization expense

paragraph:279: 210

paragraph:280: 202

paragraph:281: Amortization of discount on convertible notes

paragraph:282: -

paragraph:283: 428

paragraph:284: Changes in fair value of derivative liabilities

paragraph:285: -

paragraph:286: 2,855

paragraph:287: Changes in operating assets and liabilities:

paragraph:288: Accounts receivable

paragraph:289: (38 )

paragraph:290: (1,265 )

paragraph:291: Prepaids and other current assets

paragraph:292: (58 )

paragraph:293: (114 )

paragraph:294: Other assets

paragraph:295: (8 )

paragraph:296: -

paragraph:297: Accounts payable

paragraph:298: (177 )

paragraph:299: (134 )

paragraph:300: Accrued expenses and other current liabilities

paragraph:301: 239

paragraph:302: (9 )

paragraph:303: Net cash used in operating activities

paragraph:304: (1,066 )

paragraph:305: (1,332 )

paragraph:306: Investing activities:

paragraph:307: Purchase of equipment

paragraph:308: (241 )

paragraph:309: (41 )

paragraph:310: Net cash used in investing activities

paragraph:311: (241 )

paragraph:312: (41 )

paragraph:313: Financing activities:

paragraph:314: Proceeds from stock option exercise

paragraph:315: 64

paragraph:316: -

paragraph:317: Proceeds from stock warrant exercise

paragraph:318: 690

paragraph:319: -

paragraph:320: Proceeds from convertible notes issuance

paragraph:321: -

paragraph:322: 3,145

paragraph:323: Proceeds from public offering, net of offering costs

paragraph:324: 23,385

paragraph:325: -

paragraph:326: Net cash provided by financing activities

paragraph:327: 24,139

paragraph:328: 3,145

paragraph:329: Net change in cash and cash equivalents, and certificate of deposit

paragraph:330: 22,832

paragraph:331: 1,772

paragraph:332: Cash and cash equivalents, and certificate of deposit, beginning of period

paragraph:333: 15,740

paragraph:334: 1,291

paragraph:335: Cash and cash equivalents, and certificate of deposit, end of period

paragraph:336: $ 38,572

paragraph:337: $ 3,063

paragraph:338: Supplemental non-cash disclosures:

paragraph:339: Right of use asset - operating obtained in exchange for lease liability - operating

paragraph:340: $ 274

paragraph:341: -

paragraph:342: 6

paragraph:343: Aeluma, Inc. and Subsidiary

paragraph:344: Reconciliation of GAAP and Non-GAAP Financial Measures (unaudited)

paragraph:345: Three Months Ended

paragraph:346: Six Months Ended

paragraph:347: ($ in thousands, except per share data)

paragraph:348: December 31, 2025

paragraph:349: September 30, 2025

paragraph:350: December 31, 2024

paragraph:351: December 31, 2025

paragraph:352: December 31, 2024

paragraph:353: GAAP net loss

paragraph:354: $ (1,853 )

paragraph:355: $ (1,493 )

paragraph:356: $ (2,895 )

paragraph:357: $ (3,346 )

paragraph:358: $ (3,625 )

paragraph:359: Non-GAAP adjustments:

paragraph:360: Stock-based compensation - stock option

paragraph:361: 1,056

paragraph:362: 1,056

paragraph:363: 149

paragraph:364: 2,112

paragraph:365: 316

paragraph:366: Consulting and advisory - restricted stock award

paragraph:367: -

paragraph:368: -

paragraph:369: 7

paragraph:370: -

paragraph:371: 14

paragraph:372: Amortization of discount on convertible notes

paragraph:373: -

paragraph:374: -

paragraph:375: 283

paragraph:376: -

paragraph:377: 428

paragraph:378: Changes in fair value of derivative liabilities

paragraph:379: -

paragraph:380: -

paragraph:381: 3,001

paragraph:382: -

paragraph:383: 2,855

paragraph:384: Total adjustments to GAAP net loss

paragraph:385: 1,056

paragraph:386: 1,056

paragraph:387: 3,440

paragraph:388: 2,112

paragraph:389: 3,613

paragraph:390: Non-GAAP net income (loss)

paragraph:391: $ (797 )

paragraph:392: $ (437 )

paragraph:393: $ 545

paragraph:394: $ (1,234 )

paragraph:395: $ (12 )

paragraph:396: Depreciation & amortization

paragraph:397: 108

paragraph:398: 102

paragraph:399: 102

paragraph:400: 210

paragraph:401: 202

paragraph:402: Interest income

paragraph:403: (228 )

paragraph:404: (115 )

paragraph:405: -

paragraph:406: (343 )

paragraph:407: -

paragraph:408: Adjusted EBITDA

paragraph:409: $ (917 )

paragraph:410: $ (450 )

paragraph:411: $ 647

paragraph:412: $ (1,367 )

paragraph:413: $ 190

paragraph:414: GAAP net loss per share – basic and diluted

paragraph:415: $ (0.11 )

paragraph:416: $ (0.09 )

paragraph:417: $ (0.24 )

paragraph:418: $ (0.20 )

paragraph:419: $ (0.30 )

paragraph:420: Non-GAAP adjustments

paragraph:421: 0.07

paragraph:422: 0.06

paragraph:423: 0.28

paragraph:424: 0.13

paragraph:425: 0.30

paragraph:426: Non-GAAP net income (loss) per share – basic and diluted

paragraph:427: $ (0.04 )

paragraph:428: $ (0.03 )

paragraph:429: $ 0.04

paragraph:430: $ (0.07 )

paragraph:431: $ -

paragraph:432: 7

paragraph:1: EX-99.1

paragraph:2: 2

paragraph:3: ea026525801ex99-1_aeluma.htm

paragraph:4: PRESS RELEASE OF AELUMA, INC. DATED NOVEMBER 12, 2025

paragraph:5: Exhibit 99.1

paragraph:6: Aeluma Announces First Quarter Fiscal 2026 Financial Results

paragraph:7: Execution on Strategic Priorities Positions Aeluma for Future Growth

paragraph:8: GOLETA, CA – November 12, 2025 –

paragraph:9: Aeluma, Inc. (NASDAQ: ALMU) (“Aeluma” or the “Company”), a transformative semiconductor company specializing in high-performance and scalable technologies, today reported financial results for its first quarter of fiscal 2026 ended September 30, 2025.

paragraph:10: Management Commentary

paragraph:11: “We had another strong quarter executing on our strategic priorities including bolstering our balance sheet with a capital raise to accelerate growth, adding key talent throughout the organization, increasing our manufacturing readiness, and advancing towards commercialization,” said Jonathan Klamkin, Ph.D., Founder and CEO of Aeluma. “In this quarter, we also initiated a new contract with NASA, met several milestones for existing contracts, and made continued progress on customer engagements. The rapid acceleration of AI is driving unprecedented demand for optical component technologies, and we are uncovering greater opportunity aligned with our offerings and product roadmap. As we progress in fiscal 2026 with a solid financial position and positive trends in our target market verticals, our focus is on executing our go-to-market strategy to drive long-term shareholder value.”

paragraph:12: Recent Company Highlights

paragraph:13: ● Strong Financial Position: Closed fiscal Q1 2026 with $38 million in cash and no long-term debt.

paragraph:14: ● New Contract with NASA: Executed one new R&D contract related to quantum . New contract to leverage Aeluma’s scalable semiconductor platform to provide a path to low size, weight and power quantum systems for space applications.

paragraph:15: ● Increased Manufacturing Readiness: Increased outsourced wafer fabrication activities nearly five-fold. Acquired key equipment assets to increase in-house test and validation capacity for qualifying outsourced wafer production processes.

paragraph:16: ● New Hires: Attracted highly experienced and accomplished professionals to fill key manufacturing and engineering positions including Director of Supply Chain Manufacturing and Director of Technology Enablement.

paragraph:17: ● Intellectual Property: Recently filed two nonprovisional patent applications for core innovations. One relates to scalable, large-diameter wafer manufacturing for photonic components, and the other to large-format imaging sensors. Brings total issued and pending patents to 34.

paragraph:18: Fiscal Q1 2026 Financial Results

paragraph:19: ● Revenue was $1.4 million compared to $481 thousand in the first quarter of 2024, and $1.3 million in the fourth quarter of 2025. Revenue in the quarter was primarily from R&D contracts.

paragraph:20: ● GAAP net loss was $1.5 million, or ($0.09) per basic and diluted share, compared to a net loss of $730 thousand, or ($0.06) per basic and diluted share, for the same period last year and net loss of $859 thousand, or ($0.05) per basic and diluted share, in the prior quarter.

paragraph:21: ● GAAP net loss increased from the prior quarter primarily due to higher salaries, stock-based compensation and employee benefits driven by new employees hires to support the expansion of the business and scaling of operations.

paragraph:22: ● Adjusted EBITDA loss was $450 thousand, compared to a loss of $457 thousand in the same period last year, and a loss of $113 thousand in the prior quarter.

paragraph:23: ● Cash and cash equivalents totaled $38.1 million at September 30, 2025, compared to $15.7 million as of June 30, 2025.

paragraph:24: Fiscal Year 2026 Guidance and Strategic Priorities

paragraph:25: For the full fiscal year of 2026, based on current and anticipated market conditions, Aeluma continues to expect revenue in a range of $4.0 million to $6.0 million. The Company’s strategic priorities for 2026 include:

paragraph:26: ● New Contract Wins: Three to seven new development contracts, which provide non-dilutive funding for R&D investments and the growth of partnership opportunities.

paragraph:27: ● Team Expansion: G rowth of our business development and go-to-market team, technical leadership and staff, and operations team.

paragraph:28: ● Enhanced Manufacturing Readiness: Higher levels of outsourced wafer manufacturing productivity, expanded test and validation capabilities, technology qualification for targeted industries, and expanded supply chain partnerships.

paragraph:29: ● Go-to-Market Traction: Continued progress on opportunities in target commercial markets and increasing the number of customer engagements in the pipeline. Immediate near-term focus on defense and aerospace, and photonics for AI infrastructure driving our product roadmap.

paragraph:30: Conference Call and Webcast

paragraph:31: Aeluma will host a conference call at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on November 12, 2025, to discuss the Company’s financial results and business outlook. Interested participants may access the conference the call by dialing (877) 317-6789 (domestic) or (412) 317-6789 (international) and referencing “Aeluma.”

paragraph:32: A live webcast of the call will be available on the “Investors” section of Aeluma’s website and can also be accessed by clicking https://event.choruscall.com/mediaframe/webcast.html?webcastid=EUZ1bmuI. A replay of the conference call will be available on Aeluma’s website shortly after the call concludes.

paragraph:33: Note about Non - GAAP Financial Measures

paragraph:34: This press release includes and makes reference to certain non-GAAP financial measures. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Aeluma believes that the presentation of non-GAAP financial measures provides important supplemental information to management and investors regarding financial and business trends relating to the Company’s financial condition and results of operations. Aeluma believes that these non-GAAP financial measures provide additional insight into Aeluma’s ongoing performance and core operational activities and has chosen to provide these measures for more consistent and meaningful comparison between periods. These measures should only be used to evaluate Aeluma’s results of operations in conjunction with the corresponding GAAP measures. The non-GAAP results exclude the effect of stock-based compensation, depreciation and amortization.

paragraph:35: This press release includes non-GAAP financial measures, including:

paragraph:36: ● Non-GAAP net income (loss), which is defined as GAAP net income (loss) plus stock-based compensation expenses, amortization of discount on convertible notes, and changes in fair value of derivative liabilities; and

paragraph:37: ● Adjusted EBITDA, defined as non-GAAP net income (loss) plus depreciation and amortization expenses, less interest income.

paragraph:38: A reconciliation between GAAP and non-GAAP financial results is provided in the financial statements portion of this press release.

paragraph:39: 2

paragraph:40: Forward-Looking Statements

paragraph:41: All statements in this press release that are not historical are forward-looking statements, including, among other things, statements relating to the Company’s expectations regarding its market position and market opportunity, expectations and plans as to its product development, manufacturing and sales, and relations with its partners and investors. These statements are not historical facts but rather are based on the Company’s current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expect,” “intend,” “plan,” “project,” “believe,” “estimate,” and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company’s control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.

paragraph:42: About Aeluma, Inc.

paragraph:43: Aeluma (NASDAQ: ALMU) is a transformative semiconductor company specializing in high-performance photonic and electronic technologies that scale. The company’s proprietary platform combines compound semiconductors with scalable manufacturing used for mass market microelectronics to enable volume production and large-scale integration. Applications for Aeluma’s technology include mobile, AI, defense and aerospace, robotics, automotive, AR/VR, and quantum. Headquartered in Goleta, California, Aeluma operates state-of-the-art R&D and manufacturing capabilities for semiconductor wafer production, quick-turn chip fabrication, rapid prototyping, test and validation. Aeluma also partners with production-scale fabrication foundries, packaging, and integration companies. For more information, visit www.aeluma.com.

paragraph:44: Company:

paragraph:45: Aeluma, Inc.

paragraph:46: (805) 351-2707

paragraph:47: info@aeluma.com

paragraph:48: Investor Contact:

paragraph:49: Financial Profiles, Inc.

paragraph:50: Moira Conlon & Tony Rossi

paragraph:51: (310) 622-8221

paragraph:52: ir@aeluma.com

paragraph:53: 3

paragraph:54: Aeluma, Inc. and Subsidiary

paragraph:55: Consolidated Balance Sheets

paragraph:56: ($ in thousands)

paragraph:57: September 30, 2025

paragraph:58: (unaudited)

paragraph:59: June 30, 2025

paragraph:60: Assets

paragraph:61: Current assets:

paragraph:62: Cash and cash equivalents

paragraph:63: $ 25,920

paragraph:64: $ 3,628

paragraph:65: Certificate of deposit

paragraph:66: 12,227

paragraph:67: 12,112

paragraph:68: Accounts receivable

paragraph:69: 1,248

paragraph:70: 962

paragraph:71: Deferred compensation

paragraph:72: -

paragraph:73: -

paragraph:74: Prepaids and other current assets

paragraph:75: 829

paragraph:76: 633

paragraph:77: Total current assets

paragraph:78: 40,224

paragraph:79: 17,335

paragraph:80: Property and equipment:

paragraph:81: Equipment

paragraph:82: 1,902

paragraph:83: 1,692

paragraph:84: Leasehold improvements

paragraph:85: 547

paragraph:86: 547

paragraph:87: Accumulated depreciation

paragraph:88: (1,122 )

paragraph:89: (1,021 )

paragraph:90: Property and equipment, net

paragraph:91: 1,327

paragraph:92: 1,218

paragraph:93: Right of use asset - operating

paragraph:94: 1,078

paragraph:95: 836

paragraph:96: Other assets

paragraph:97: 24

paragraph:98: 17

paragraph:99: Total assets

paragraph:100: $ 42,653

paragraph:101: $ 19,406

paragraph:102: Liabilities and stockholders’ equity

paragraph:103: Current liabilities:

paragraph:104: Accounts payable

paragraph:105: $ 273

paragraph:106: $ 361

paragraph:107: Accrued expenses and other current liabilities

paragraph:108: 306

paragraph:109: 206

paragraph:110: Lease liability - operating, current portion

paragraph:111: 189

paragraph:112: 138

paragraph:113: Derivative liabilities

paragraph:114: -

paragraph:115: -

paragraph:116: Total current liabilities

paragraph:117: 768

paragraph:118: 705

paragraph:119: Lease liability - operating, long-term portion

paragraph:120: 992

paragraph:121: 803

paragraph:122: Convertible notes

paragraph:123: -

paragraph:124: -

paragraph:125: Total liabilities

paragraph:126: 1,760

paragraph:127: 1,508

paragraph:128: Commitments and contingencies

paragraph:129: -

paragraph:130: -

paragraph:131: Stockholders’ equity:

paragraph:132: Preferred stock

paragraph:133: -

paragraph:134: -

paragraph:135: Common stock

paragraph:136: 2

paragraph:137: 2

paragraph:138: Additional paid-in capital

paragraph:139: 59,030

paragraph:140: 34,542

paragraph:141: Accumulated deficit

paragraph:142: (18,139 )

paragraph:143: (16,646 )

paragraph:144: Total stockholders’ equity

paragraph:145: 40,893

paragraph:146: 17,898

paragraph:147: Total liabilities and stockholders’ equity

paragraph:148: $ 42,653

paragraph:149: $ 19,406

paragraph:150: 4

paragraph:151: Aeluma, Inc. and Subsidiary

paragraph:152: Consolidated Statements of Operations (unaudited)

paragraph:153: Three Months Ended

paragraph:154: ($ in thousands, except per share data)

paragraph:155: September 30, 2025

paragraph:156: June 30, 2025

paragraph:157: September 30, 2024

paragraph:158: Revenue

paragraph:159: $ 1,385

paragraph:160: $ 1,317

paragraph:161: $ 481

paragraph:162: Operating expenses:

paragraph:163: Cost of revenue

paragraph:164: 701

paragraph:165: 779

paragraph:166: 315

paragraph:167: Research and development

paragraph:168: 606

paragraph:169: 165

paragraph:170: 401

paragraph:171: General and administrative

paragraph:172: 1,686

paragraph:173: 1,342

paragraph:174: 496

paragraph:175: Total operating expenses

paragraph:176: 2,993

paragraph:177: 2,286

paragraph:178: 1,212

paragraph:179: Loss from operations

paragraph:180: (1,608 )

paragraph:181: (969 )

paragraph:182: (731 )

paragraph:183: Other income (expense):

paragraph:184: Interest income

paragraph:185: 115

paragraph:186: 110

paragraph:187: -

paragraph:188: Amortization of discount on convertible notes

paragraph:189: -

paragraph:190: -

paragraph:191: (145 )

paragraph:192: Changes in fair value of derivative liabilities

paragraph:193: -

paragraph:194: -

paragraph:195: 146

paragraph:196: Total other income, net

paragraph:197: 115

paragraph:198: 110

paragraph:199: 1

paragraph:200: Loss before income tax expense

paragraph:201: (1,493 )

paragraph:202: (859 )

paragraph:203: (730 )

paragraph:204: Income tax expense

paragraph:205: -

paragraph:206: -

paragraph:207: -

paragraph:208: Net loss

paragraph:209: $ (1,493 )

paragraph:210: $ (859 )

paragraph:211: $ (730 )

paragraph:212: Net loss per share – basic and diluted

paragraph:213: $ (0.09 )

paragraph:214: $ (0.05 )

paragraph:215: $ (0.06 )

paragraph:216: Weighted average common shares outstanding – basic and diluted

paragraph:217: 16,141,153

paragraph:218: 15,824,222

paragraph:219: 12,178,424

paragraph:220: Book value per share

paragraph:221: $ 2.53

paragraph:222: $ 1.13

paragraph:223: $ 0.14

paragraph:224: Aeluma, Inc. and Subsidiary

paragraph:225: Reconciliation of GAAP and Non-GAAP Financial Measures (unaudited)

paragraph:226: Three Months Ended

paragraph:227: ($ in thousands, except per share data)

paragraph:228: September 30, 2025

paragraph:229: June 30, 2025

paragraph:230: September 30, 2024

paragraph:231: GAAP net loss

paragraph:232: $ (1,493 )

paragraph:233: $ (859 )

paragraph:234: $ (730 )

paragraph:235: Non-GAAP adjustments:

paragraph:236: Stock-based compensation

paragraph:237: 1,056

paragraph:238: 744

paragraph:239: 167

paragraph:240: Consulting and advisory - restricted stock award

paragraph:241: -

paragraph:242: 3

paragraph:243: 7

paragraph:244: Amortization of discount on convertible notes

paragraph:245: -

paragraph:246: -

paragraph:247: 145

paragraph:248: Changes in fair value of derivative liabilities

paragraph:249: -

paragraph:250: -

paragraph:251: (146 )

paragraph:252: Total adjustments to GAAP net loss

paragraph:253: 1,056

paragraph:254: 747

paragraph:255: 173

paragraph:256: Non-GAAP net loss

paragraph:257: $ (437 )

paragraph:258: $ (112 )

paragraph:259: $ (557 )

paragraph:260: Depreciation & amortization

paragraph:261: 102

paragraph:262: 109

paragraph:263: 100

paragraph:264: Interest income

paragraph:265: (115 )

paragraph:266: (110 )

paragraph:267: -

paragraph:268: Adjusted EBITDA

paragraph:269: $ (450 )

paragraph:270: $ (113 )

paragraph:271: $ (457 )

paragraph:272: GAAP net loss per share – basic and diluted

paragraph:273: $ (0.09 )

paragraph:274: $ (0.05 )

paragraph:275: $ (0.06 )

paragraph:276: Non-GAAP adjustments

paragraph:277: 0.06

paragraph:278: 0.04

paragraph:279: 0.02

paragraph:280: Non-GAAP net loss per share – basic and diluted

paragraph:281: $ (0.03 )

paragraph:282: $ (0.01 )

paragraph:283: $ (0.04 )

paragraph:284: 5

paragraph:285: Aeluma, Inc. and Subsidiary

paragraph:286: Consolidated Statements of Cash Flows (unaudited)

paragraph:287: Three Months Ended September 30,

paragraph:288: ($ in thousands)

paragraph:289: 2025

paragraph:290: 2024

paragraph:291: Operating activities:

paragraph:292: Net loss

paragraph:293: $ (1,493 )

paragraph:294: $ (730 )

paragraph:295: Adjustments to reconcile net loss to net cash used in operating activities:

paragraph:296: Amortization of deferred compensation

paragraph:297: -

paragraph:298: 7

paragraph:299: Stock-based compensation expense

paragraph:300: 1,056

paragraph:301: 167

paragraph:302: Depreciation and amortization expense

paragraph:303: 102

paragraph:304: 100

paragraph:305: Amortization of discount on convertible notes

paragraph:306: -

paragraph:307: 145

paragraph:308: Changes in fair value of derivative liabilities

paragraph:309: -

paragraph:310: (146 )

paragraph:311: Changes in operating assets and liabilities:

paragraph:312: Accounts receivable

paragraph:313: (286 )

paragraph:314: (262 )

paragraph:315: Prepaids and other current assets

paragraph:316: (196 )

paragraph:317: (167 )

paragraph:318: Other assets

paragraph:319: (8 )

paragraph:320: -

paragraph:321: Accounts payable

paragraph:322: (88 )

paragraph:323: (79 )

paragraph:324: Accrued expenses and other current liabilities

paragraph:325: 98

paragraph:326: 34

paragraph:327: Net cash used in operating activities

paragraph:328: (815 )

paragraph:329: (931 )

paragraph:330: Investing activities:

paragraph:331: Purchase of equipment

paragraph:332: (210 )

paragraph:333: (2 )

paragraph:334: Net cash used in investing activities

paragraph:335: (210 )

paragraph:336: (2 )

paragraph:337: Financing activities:

paragraph:338: Proceeds from stock option exercise

paragraph:339: 47

paragraph:340: -

paragraph:341: Proceeds from convertible notes issuance

paragraph:342: -

paragraph:343: 3,145

paragraph:344: Proceeds from public offering, net of offering costs

paragraph:345: 23,385

paragraph:346: -

paragraph:347: Net cash provided by financing activities

paragraph:348: 23,432

paragraph:349: 3,145

paragraph:350: Net change in cash and cash equivalents, and certificate of deposit

paragraph:351: 22,407

paragraph:352: 2,212

paragraph:353: Cash and cash equivalents, and certificate of deposit, beginning of period

paragraph:354: 15,740

paragraph:355: 1,291

paragraph:356: Cash and cash equivalents, and certificate of deposit, end of period

paragraph:357: $ 38,147

paragraph:358: $ 3,503

paragraph:359: Supplemental non-cash disclosures:

paragraph:360: Right of use asset - operating obtained in exchange for lease liability - operating

paragraph:361: $ 274

paragraph:362: -

paragraph:363: 6

paragraph:1: EX-99.1

paragraph:2: 2

paragraph:3: ea025633601ex99-1_aeluma.htm

paragraph:4: PRESS RELEASE OF AELUMA, INC. DATED SEPTEMBER 9, 2025

paragraph:5: Exhibit 99.1

paragraph:6: Aeluma Announces Fourth Quarter and Full Fiscal Year 2025 Financial Results

paragraph:7: Momentum Building with New Contracts, Record Revenue, and Growing Interest Across Multiple Markets

paragraph:8: GOLETA, CA – September 9, 2025 –

paragraph:9: Aeluma, Inc. (NASDAQ: ALMU) (“Aeluma” or the “Company”), a transformative semiconductor company specializing in high-performance and scalable technologies, today reported financial results for its fourth quarter and full fiscal year ended June 30, 2025.

paragraph:10: Management Commentary

paragraph:11: “Throughout fiscal year 2025, we continued to build momentum with increased manufacturing readiness, commercialization traction, and elevated market visibility following our Nasdaq uplist,” said Jonathan Klamkin, Ph.D., Founder and CEO of Aeluma. “Our transformative semiconductor technology uniquely positions us to address critical needs in several fast-growing market verticals, including AI infrastructure, defense and aerospace, mobile and consumer electronics, and quantum computing. Our compelling customer value proposition is supported by a robust IP portfolio, domestic semiconductor capability, strategic R&D contracts, and a scalable, capital-light manufacturing model. With a strong balance sheet and positive trends in our target verticals, we believe that fiscal 2026 will be a year of significant progress executing our go-to-market strategy and creating long-term value for shareholders.”

paragraph:12: Recent Company Highlights

paragraph:13: ● New Contracts: Secured six R&D contracts in fiscal year 2025 including two in the fourth quarter.

paragraph:14: ● Recently Announced Wins:

paragraph:15: ○ NASA: Integration of nonlinear optical materials in silicon photonics for entangled photon sources in quantum computing and communication systems.

paragraph:16: ○ U.S. Navy: Two contracts: one for low size, weight, and power imaging sensors for next-generation submarine systems; another for high-speed photodetectors for optical interconnects applicable to aerospace platforms, high-performance computing, and AI infrastructure.

paragraph:17: ○ Department of Energy: Low-cost photodetector sensors applicable to mobile and consumer electronics, AR/VR, industrial, and robotics.

paragraph:18: ● Manufacturing Breakthrough: Unveiled a manufacturing breakthrough, in collaboration with Thorlabs, applicable to quantum computing and communication systems.

paragraph:19: ● Strong Financial Position: Closed FY2025 with $15.7 million in cash and no debt.

paragraph:20: ● Inclusion in Two New Indices: Added to the broad-market Russell 3000 ® Index, effective June 30, 2025, and to the MSCI Global Micro Cap Index, effective August 26, 2025.

paragraph:21: ● CFO Appointment: Appointed industry veteran Christopher Stewart as CFO effective August 4, 2025. Mr. Stewart brings more than 20 years of financial leadership experience at high-growth technology companies.

paragraph:22: Fiscal Q4 2025 Financial Results

paragraph:23: ● Revenue was $1.3 million compared to $279 thousand in the fourth quarter of 2024, and $1.3 million in the third quarter of 2025. Revenue in the quarter was primarily from R&D contracts.

paragraph:24: ● GAAP net loss was $859 thousand, or ($0.05) per basic and diluted share, compared to a net loss of $988 thousand, or ($0.08) per basic and diluted share, for the same period last year and net income of $1.5 million, or $0.12 and $0.11, respectively, per basic and diluted share, in the prior quarter.

paragraph:25: ● GAAP net income decreased from the prior quarter primarily due to a $2.6 million non-cash gain in fair value of derivative liabilities recorded in the quarter ended March 31, 2025.

paragraph:26: ● Adjusted EBITDA loss was $113 thousand, compared to a loss of $718 thousand in the same period last year, and a gain of $109 thousand in the prior quarter.

paragraph:27: Full Year 2025 Financial Results

paragraph:28: ● Full year revenue was $4.7 million, compared to $919 thousand in the prior year. 2025 revenue was primarily from R&D contracts.

paragraph:29: ● GAAP net loss was $3.0 million, or ($0.23) per basic and diluted share, compared to a net loss of $4.6 million, or ($0.37) per basic and diluted share, for the prior year.

paragraph:30: ● Adjusted EBITDA was $186 thousand, compared to a loss of $3.5 million in the prior year.

paragraph:31: ● GAAP and non-GAAP net loss, and adjusted EBITDA all improved year over year primarily due to increased revenue from R&D contracts.

paragraph:32: ● Cash and cash equivalents totaled $15.7 million at June 30, 2025, compared to $1.3 million as of June 30, 2024.

paragraph:33: Fiscal Year 2026 Guidance and Strategic Priorities

paragraph:34: For the full fiscal year of 2026, Aeluma currently expects revenue in a range of $4.0 million to $6.0 million. The Company’s strategic priorities for 2026 include:

paragraph:35: ● New Contract Wins: Three to seven new development contracts, which will provide non-dilutive funding for R&D investments and the growth of partnership opportunities.

paragraph:36: ● Team Expansion: Addition of a business development and go-to-market team, expanded technical leadership and staff, as well as an expansion of our operations team.

paragraph:37: ● Enhanced Manufacturing Readiness: Higher levels of outsourced wafer manufacturing productivity, expanded test and validation capabilities, technology qualification for targeted industries, and expanded supply chain partnerships.

paragraph:38: ● Go-to-Market Traction: Continued progress on opportunities in targeted commercial markets and increasing the number of customer engagements in the pipeline.

paragraph:39: Conference Call and Webcast

paragraph:40: Aeluma will host a conference call at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on September 9, 2025, to discuss the Company’s financial results and business outlook. Interested participants may access the conference the call by dialing (877) 317-6789 (domestic) or (412) 317-6789 (international) and referencing “Aeluma.”

paragraph:41: A live webcast of the call will be available on the “Investors” section of Aeluma’s website and can also be accessed by clicking here. A replay of the conference call will be available on Aeluma’s website shortly after the call concludes.

paragraph:42: 2

paragraph:43: Note about Non - GAAP Financial Measures

paragraph:44: This press release includes and makes reference to certain non-GAAP financial measures. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Aeluma believes that the presentation of non-GAAP financial measures provides important supplemental information to management and investors regarding financial and business trends relating to the Company's financial condition and results of operations. Aeluma believes that these non-GAAP financial measures provide additional insight into Aeluma's ongoing performance and core operational activities and has chosen to provide these measures for more consistent and meaningful comparison between periods. These measures should only be used to evaluate Aeluma's results of operations in conjunction with the corresponding GAAP measures. The non-GAAP results exclude the effect of stock-based compensation, depreciation and amortization.

paragraph:45: This press release includes non-GAAP financial measures, including:

paragraph:46: ● Non-GAAP net income (loss), which is defined as GAAP net income (loss) plus stock-based compensation expenses, amortization of discount on convertible notes, and changes in fair value of derivative liabilities; and

paragraph:47: ● Adjusted EBITDA, defined as non-GAAP net income (loss) plus depreciation and amortization expenses, less interest income.

paragraph:48: A reconciliation between GAAP and non-GAAP financial results is provided in the financial statements portion of this press release.

paragraph:49: Forward-Looking Statements

paragraph:50: All statements in this press release that are not historical are forward-looking statements, including, among other things, statements relating to the Company's expectations regarding its market position and market opportunity, expectations and plans as to its product development, manufacturing and sales, and relations with its partners and investors. These statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expect,” “intend,” “plan,” “project,” “believe,” “estimate,” and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company's control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.

paragraph:51: About Aeluma, Inc.

paragraph:52: Aeluma (NASDAQ: ALMU) is a transformative semiconductor company specializing in high-performance photonic and electronic technologies that scale. The company’s proprietary platform combines compound semiconductors with scalable manufacturing used for mass market microelectronics to enable volume production and large-scale integration. Applications for Aeluma’s technology include mobile, AI, defense and aerospace, robotics, automotive, AR/VR, and quantum. Headquartered in Goleta, California, Aeluma operates state-of-the-art R&D and manufacturing capabilities for semiconductor wafer production, quick-turn chip fabrication, rapid prototyping, test and validation. Aeluma also partners with production-scale fabrication foundries, packaging, and integration companies. For more information, visit www.aeluma.com.

paragraph:53: Company:

paragraph:54: Aeluma, Inc.

paragraph:55: (805) 351-2707

paragraph:56: info@aeluma.com

paragraph:57: Investor Contact:

paragraph:58: Financial Profiles, Inc.

paragraph:59: Tony Rossi

paragraph:60: (310) 622-8221

paragraph:61: Jeff Haas

paragraph:62: (310) 622-8240

paragraph:63: ir@aeluma.com

paragraph:64: 3

paragraph:65: Aeluma, Inc. and Subsidiary

paragraph:66: Consolidated Balance Sheets

paragraph:67: ($ in thousands)

paragraph:68: June 30,

paragraph:69: 2025

paragraph:70: March 31,

paragraph:71: 2025

paragraph:72: (unaudited)

paragraph:73: June 30,

paragraph:74: 2024

paragraph:75: Assets

paragraph:76: Current assets:

paragraph:77: Cash and cash equivalents

paragraph:78: $ 3,628

paragraph:79: $ 3,866

paragraph:80: $ 1,291

paragraph:81: Certificate of deposit

paragraph:82: 12,112

paragraph:83: 12,000

paragraph:84: -

paragraph:85: Accounts receivable

paragraph:86: 962

paragraph:87: 1,143

paragraph:88: 60

paragraph:89: Deferred compensation

paragraph:90: -

paragraph:91: 3

paragraph:92: 20

paragraph:93: Prepaids and other current assets

paragraph:94: 633

paragraph:95: 214

paragraph:96: 22

paragraph:97: Total current assets

paragraph:98: 17,335

paragraph:99: 17,226

paragraph:100: 1,393

paragraph:101: Property and equipment:

paragraph:102: Equipment

paragraph:103: 1,692

paragraph:104: 1,617

paragraph:105: 1,531

paragraph:106: Leasehold improvements

paragraph:107: 547

paragraph:108: 547

paragraph:109: 547

paragraph:110: Accumulated depreciation

paragraph:111: (1,021 )

paragraph:112: (914 )

paragraph:113: (609 )

paragraph:114: Property and equipment, net

paragraph:115: 1,218

paragraph:116: 1,250

paragraph:117: 1,469

paragraph:118: Intangible assets

paragraph:119: 4

paragraph:120: 5

paragraph:121: 7

paragraph:122: Right of use asset - operating

paragraph:123: 836

paragraph:124: 868

paragraph:125: 962

paragraph:126: Other assets

paragraph:127: 13

paragraph:128: 13

paragraph:129: 13

paragraph:130: Total assets

paragraph:131: $ 19,406

paragraph:132: $ 19,362

paragraph:133: $ 3,844

paragraph:134: Liabilities and stockholders' equity

paragraph:135: Current liabilities:

paragraph:136: Accounts payable

paragraph:137: $ 361

paragraph:138: $ 173

paragraph:139: $ 317

paragraph:140: Accrued expenses and other current liabilities

paragraph:141: 206

paragraph:142: 217

paragraph:143: 181

paragraph:144: Lease liability - operating, current portion

paragraph:145: 138

paragraph:146: 136

paragraph:147: 129

paragraph:148: Total current liabilities

paragraph:149: 705

paragraph:150: 526

paragraph:151: 627

paragraph:152: Lease liability - operating, long-term portion

paragraph:153: 803

paragraph:154: 839

paragraph:155: 941

paragraph:156: Total liabilities

paragraph:157: 1,508

paragraph:158: 1,365

paragraph:159: 1,568

paragraph:160: Commitments and contingencies

paragraph:161: -

paragraph:162: -

paragraph:163: -

paragraph:164: Stockholders’ equity:

paragraph:165: Preferred stock

paragraph:166: -

paragraph:167: -

paragraph:168: -

paragraph:169: Common stock

paragraph:170: 2

paragraph:171: 2

paragraph:172: 1

paragraph:173: Additional paid-in capital

paragraph:174: 34,542

paragraph:175: 33,783

paragraph:176: 15,899

paragraph:177: Accumulated deficit

paragraph:178: (16,646 )

paragraph:179: (15,788 )

paragraph:180: (13,624 )

paragraph:181: Total stockholders’ equity

paragraph:182: 17,898

paragraph:183: 17,997

paragraph:184: 2,276

paragraph:185: Total liabilities and stockholders’ equity

paragraph:186: $ 19,406

paragraph:187: $ 19,362

paragraph:188: $ 3,844

paragraph:189: 4

paragraph:190: Aeluma, Inc. and Subsidiary

paragraph:191: Consolidated Statements of Operations

paragraph:192: Three Months Ended (unaudited)

paragraph:193: Twelve Months Ended

paragraph:194: ($ in thousands, except per share data)

paragraph:195: June 30,

paragraph:196: 2025

paragraph:197: March 31,

paragraph:198: 2025 (1)

paragraph:199: June 30,

paragraph:200: 2024

paragraph:201: June 30,

paragraph:202: 2025 (1)

paragraph:203: June 30,

paragraph:204: 2024

paragraph:205: Revenue

paragraph:206: $ 1,317

paragraph:207: $ 1,255

paragraph:208: $ 279

paragraph:209: $ 4,665

paragraph:210: $ 919

paragraph:211: Operating expenses:

paragraph:212: Cost of goods sold

paragraph:213: 779

paragraph:214: 311

paragraph:215: 234

paragraph:216: 1,884

paragraph:217: 619

paragraph:218: Research and development

paragraph:219: 165

paragraph:220: 471

paragraph:221: 400

paragraph:222: 1,295

paragraph:223: 2,507

paragraph:224: General and administrative

paragraph:225: 1,342

paragraph:226: 1,305

paragraph:227: 634

paragraph:228: 3,628

paragraph:229: 2,356

paragraph:230: Total operating expenses

paragraph:231: 2,286

paragraph:232: 2,087

paragraph:233: 1,268

paragraph:234: 6,807

paragraph:235: 5,482

paragraph:236: Loss from operations

paragraph:237: (969 )

paragraph:238: (832 )

paragraph:239: (989 )

paragraph:240: (2,142 )

paragraph:241: (4,563 )

paragraph:242: Other income (expense):

paragraph:243: Interest income

paragraph:244: 110

paragraph:245: 3

paragraph:246: 1

paragraph:247: 113

paragraph:248: 1

paragraph:249: Amortization of discount on convertible notes

paragraph:250: -

paragraph:251: (287 )

paragraph:252: -

paragraph:253: (715 )

paragraph:254: -

paragraph:255: Changes in fair value of derivative liabilities

paragraph:256: -

paragraph:257: 2,577

paragraph:258: -

paragraph:259: (278 )

paragraph:260: -

paragraph:261: Total other income (expense), net

paragraph:262: 110

paragraph:263: 2,293

paragraph:264: 1

paragraph:265: (880 )

paragraph:266: 1

paragraph:267: Income (loss) before income tax expense

paragraph:268: (859 )

paragraph:269: 1,461

paragraph:270: (988 )

paragraph:271: (3,022 )

paragraph:272: (4,562 )

paragraph:273: Income tax expense

paragraph:274: -

paragraph:275: -

paragraph:276: -

paragraph:277: -

paragraph:278: -

paragraph:279: Net income (loss)

paragraph:280: $ (859 )

paragraph:281: $ 1,461

paragraph:282: $ (988 )

paragraph:283: $ (3,022 )

paragraph:284: $ (4,562 )

paragraph:285: Net income (loss) per share:

paragraph:286: Basic

paragraph:287: $ (0.05 )

paragraph:288: $ 0.12

paragraph:289: $ (0.08 )

paragraph:290: $ (0.23 )

paragraph:291: $ (0.37 )

paragraph:292: Diluted

paragraph:293: $ (0.05 )

paragraph:294: $ 0.11

paragraph:295: $ (0.08 )

paragraph:296: $ (0.23 )

paragraph:297: $ (0.37 )

paragraph:298: Weighted average common shares outstanding:

paragraph:299: Basic

paragraph:300: 15,824,222

paragraph:301: 12,472,061

paragraph:302: 12,178,424

paragraph:303: 13,168,345

paragraph:304: 12,298,355

paragraph:305: Diluted

paragraph:306: 15,824,222

paragraph:307: 13,206,919

paragraph:308: 12,178,424

paragraph:309: 13,168,345

paragraph:310: 12,298,355

paragraph:311: Book value per share

paragraph:312: $ 1.13

paragraph:313: $ 1.44

paragraph:314: $ 0.19

paragraph:315: $ 1.13

paragraph:316: $ 0.19

paragraph:317: (1) Certain prior period amounts within the operating expense section have been reclassified to conform to the current period presentation.

paragraph:318: Aeluma, Inc. and Subsidiary

paragraph:319: Reconciliation of GAAP and Non-GAAP Financial Measures (unaudited)

paragraph:320: Three Months Ended

paragraph:321: Twelve Months Ended

paragraph:322: ($ in thousands, except per share data)

paragraph:323: June 30,

paragraph:324: 2025

paragraph:325: March 31,

paragraph:326: 2025

paragraph:327: June 30,

paragraph:328: 2024

paragraph:329: June 30,

paragraph:330: 2025

paragraph:331: June 30,

paragraph:332: 2024

paragraph:333: GAAP net income (loss)

paragraph:334: $ (859 )

paragraph:335: $ 1,461

paragraph:336: $ (988 )

paragraph:337: $ (3,022 )

paragraph:338: $ (4,562 )

paragraph:339: Non-GAAP adjustments:

paragraph:340: Stock-based compensation - stock option

paragraph:341: 744

paragraph:342: 833

paragraph:343: 164

paragraph:344: 1,893

paragraph:345: 732

paragraph:346: Consulting and advisory - restricted stock award

paragraph:347: 3

paragraph:348: 3

paragraph:349: 7

paragraph:350: 20

paragraph:351: 33

paragraph:352: Amortization of discount on convertible notes

paragraph:353: -

paragraph:354: 287

paragraph:355: -

paragraph:356: 715

paragraph:357: -

paragraph:358: Changes in fair value of derivative liabilities

paragraph:359: -

paragraph:360: (2,577 )

paragraph:361: -

paragraph:362: 278

paragraph:363: -

paragraph:364: Total adjustments to GAAP net income (loss)

paragraph:365: 747

paragraph:366: (1,454 )

paragraph:367: 171

paragraph:368: 2,906

paragraph:369: 765

paragraph:370: Non-GAAP net income (loss)

paragraph:371: $ (112 )

paragraph:372: $ 7

paragraph:373: $ (817 )

paragraph:374: $ (116 )

paragraph:375: $ (3,797 )

paragraph:376: Depreciation & amortization

paragraph:377: 109

paragraph:378: 105

paragraph:379: 100

paragraph:380: 415

paragraph:381: 311

paragraph:382: Interest income

paragraph:383: (110 )

paragraph:384: (3 )

paragraph:385: (1 )

paragraph:386: (113 )

paragraph:387: (1 )

paragraph:388: Adjusted EBITDA

paragraph:389: $ (113 )

paragraph:390: $ 109

paragraph:391: $ (718 )

paragraph:392: $ 186

paragraph:393: $ (3,487 )

paragraph:394: GAAP net income (loss) per share - basic

paragraph:395: $ (0.05 )

paragraph:396: $ 0.12

paragraph:397: $ (0.08 )

paragraph:398: $ (0.23 )

paragraph:399: $ (0.37 )

paragraph:400: Non-GAAP adjustments

paragraph:401: 0.04

paragraph:402: (0.12 )

paragraph:403: 0.01

paragraph:404: 0.22

paragraph:405: 0.06

paragraph:406: Non-GAAP net income (loss) per share - basic

paragraph:407: $ (0.01 )

paragraph:408: $ -

paragraph:409: $ (0.07 )

paragraph:410: $ (0.01 )

paragraph:411: $ (0.31 )

paragraph:412: GAAP net income (loss) per share - diluted

paragraph:413: $ (0.05 )

paragraph:414: $ 0.11

paragraph:415: $ (0.08 )

paragraph:416: $ (0.23 )

paragraph:417: $ (0.37 )

paragraph:418: Non-GAAP adjustments

paragraph:419: 0.04

paragraph:420: (0.11 )

paragraph:421: 0.01

paragraph:422: 0.22

paragraph:423: 0.06

paragraph:424: Non-GAAP net income (loss) per share - diluted

paragraph:425: $ (0.01 )

paragraph:426: $ -

paragraph:427: $ (0.07 )

paragraph:428: $ (0.01 )

paragraph:429: $ (0.31 )

paragraph:430: 5

paragraph:431: Aeluma, Inc. and Subsidiary

paragraph:432: Consolidated Statements of Cash Flows

paragraph:433: Twelve Months Ended

paragraph:434: June 30,

paragraph:435: ($ in thousands)

paragraph:436: 2025

paragraph:437: 2024

paragraph:438: Operating activities:

paragraph:439: Net loss

paragraph:440: $ (3,022 )

paragraph:441: $ (4,562 )

paragraph:442: Adjustments to reconcile net loss to net cash used in operating activities:

paragraph:443: Amortization of deferred compensation

paragraph:444: 20

paragraph:445: 33

paragraph:446: Stock-based compensation expense

paragraph:447: 1,893

paragraph:448: 732

paragraph:449: Depreciation and amortization expense

paragraph:450: 415

paragraph:451: 311

paragraph:452: Amortization of discount on convertible notes

paragraph:453: 715

paragraph:454: -

paragraph:455: Changes in fair value of derivative liabilities

paragraph:456: 278

paragraph:457: -

paragraph:458: Changes in operating assets and liabilities:

paragraph:459: Accounts receivable

paragraph:460: (902 )

paragraph:461: 129

paragraph:462: Prepaids and other current assets

paragraph:463: (611 )

paragraph:464: (2 )

paragraph:465: Accounts payable

paragraph:466: 44

paragraph:467: (144 )

paragraph:468: Accrued expenses and other current liabilities

paragraph:469: 22

paragraph:470: 48

paragraph:471: Net cash used in operating activities

paragraph:472: (1,148 )

paragraph:473: (3,455 )

paragraph:474: Investing activities:

paragraph:475: Purchase of equipment

paragraph:476: (161 )

paragraph:477: (322 )

paragraph:478: Net cash used in investing activities

paragraph:479: (161 )

paragraph:480: (322 )

paragraph:481: Financing activities:

paragraph:482: Repurchase of common stock

paragraph:483: -

paragraph:484: (4 )

paragraph:485: Proceed from stock option exercise

paragraph:486: 25

paragraph:487: -

paragraph:488: Proceeds from convertible notes issuance

paragraph:489: 3,145

paragraph:490: -

paragraph:491: Proceeds from Public Offering, net of costs

paragraph:492: 12,588

paragraph:493: -

paragraph:494: Net cash provided by (used in) financing activities

paragraph:495: 15,758

paragraph:496: (4 )

paragraph:497: Net change in cash and cash equivalents, and certificate of deposit

paragraph:498: 14,449

paragraph:499: (3,781 )

paragraph:500: Cash and cash equivalents, and certificate of deposit, beginning of period

paragraph:501: 1,291

paragraph:502: 5,072

paragraph:503: Cash and cash equivalents, and certificate of deposit, end of period

paragraph:504: $ 15,740

paragraph:505: $ 1,291

paragraph:506: 6

paragraph:1: EX-99.1

paragraph:2: 2

paragraph:3: ea024124501ex99-1_aeluma.htm

paragraph:4: PRESS RELEASE OF AELUMA, INC. DATED MAY 7, 2025

paragraph:5: Exhibit 99.1

paragraph:6: Aeluma Provides Third Quarter of Fiscal Year 2025 Results

paragraph:7: Reports Record Third Quarter with Revenue Growth of 265%

paragraph:8: Momentum Builds with NASDAQ Uplisting, Strong Capital Position, and Growing Demand Across AI and Defense

paragraph:9: GOLETA, CA – May 7, 2025 –

paragraph:10: Aeluma, Inc. (NASDAQ:ALMU), a semiconductor company specializing in high-performance, scalable technologies for mobile, automotive, AI, defense and aerospace, communication, and quantum computing, today provided a corporate update and announced financial results for the third quarter of fiscal 2025, which ended March 31, 2025.

paragraph:11: Recent Company Highlights

paragraph:12: ● NASDAQ Uplist and Capital Raise : Closed oversubscribed public offering with $13.8 million gross proceeds, bringing total capital raised in fiscal year to nearly $17 million. Completed uplist to NASDAQ under ticker “ALMU.”

paragraph:13: ● Board Expansion : Appointed former NVIDIA finance leader Mike Byron to the Board of Directors, strengthening strategic leadership to help scale operations for AI and quantum computing markets.

paragraph:14: ● U.S. Department of Energy Contract : Secured funding to accelerate development of low-cost shortwave infrared photodetectors applicable to mobile, AR/VR, and industrial markets.

paragraph:15: ● SPIE Defense + Commercial Sensing : Showcased next-generation photonic solutions for scaling sensing, 3D imaging, and silicon photonics at Exhibition. Presented technical talks and participated in an industry panel on “Silicon Photonics for Defense and National Security.”

paragraph:16: ● NSTC Membership : Became a member of the National Semiconductor Technology Center (NSTC), a CHIPS Act initiative aimed at strengthening U.S. leadership in semiconductor technology, manufacturing, and supply chain resilience.

paragraph:17: ● Optical Fiber Communications (OFC) Conference Presentation : Joint research presented with AIM Photonics and UC Santa Barbara on quantum dot lasers integrated with silicon photonics for AI and co-packaged optics.

paragraph:18: ● Laser Focus World Feature : Highlighted in a technical feature outlining how scalable quantum dot lasers are key for optical interconnects in AI infrastructure.

paragraph:19: ● Media Visibility : CEO Jonathan Klamkin featured in SemiWiki’s CEO interview series, discussing Aeluma’s mission, commercial roadmap, and government engagements.

paragraph:20: Management Commentary

paragraph:21: “We believe that the combination of our successful uplist to NASDAQ, our oversubscribed capital raise, our third-quarter revenue, and our strong revenue backlog poises Aeluma for a strong growth trajectory,” said Jonathan Klamkin, Ph.D., Founder and CEO of Aeluma. “Commercial interest in our technology across defense and aerospace, AI infrastructure, consumer sensing, quantum computing, and automotive continues to grow. Aeluma should be in a position to transition to commercialization to support the demands of several of these high-growth markets in the near future.”

paragraph:22: 1

paragraph:23: Financial Results

paragraph:24: For the quarter ended March 31, 2025, revenue was $1.3 million, compared to $344 thousand in the same quarter last year, and $1.6 million in the prior quarter.

paragraph:25: The company recorded a net income of $1.5 million, or $0.12 and $0.11, respectively per basic and diluted share, for the quarter ended March 31, 2025, compared to a net loss of $963 thousand, or ($0.08) per basic and diluted share, for the same quarter last year, and a net loss of $2.9 million, or ($0.24) per basic and diluted share, in the prior quarter. Net income varied quarter-over-quarter primarily due to non-cash changes in fair value of derivative liabilities of $2.6 million gain in the quarter ended March 31, 2025 following the $3.0 million loss in the prior quarter. Non-GAAP net income was $7 thousand for the quarter ended March 31, 2025.

paragraph:26: Adjusted EBITDA for the quarter ended March 31, 2025 was $109 thousand, compared to ($685) thousand for the same quarter last year, and $648 thousand in the prior quarter.

paragraph:27: The Company had $15.9 million in cash and cash equivalents, and certificate of deposit as of March 31, 2025, compared to $3.1 million as of December 31, 2024 and $1.9 million as of March 31, 2024.

paragraph:28: The total number of shares outstanding was 15,795,467 as of March 31, 2025.

paragraph:29: Revenue Guidance

paragraph:30: Aeluma met its revenue target for the quarter and is tracking to meet its annual revenue guidance of approximately $4.4-4.6 million for fiscal 2025. Aeluma continues to build confidence in its growth trajectory, supported by strong contract performance and expanding market opportunities.

paragraph:31: These statements are forward looking and actual results may differ materially. Refer to the Forward-Looking Statements section below for information on the factors that could cause our actual results to differ materially from these forward-looking statements.

paragraph:32: Note about Non - GAAP Financial Measures

paragraph:33: This press release includes and makes reference to certain non-GAAP financial measures. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Aeluma believes that the presentation of non-GAAP financial measures provides important supplemental information to management and investors regarding financial and business trends relating to the Company’s financial condition and results of operations. Aeluma believes that these non-GAAP financial measures provide additional insight into Aeluma’s ongoing performance and core operational activities and has chosen to provide these measures for more consistent and meaningful comparison between periods. These measures should only be used to evaluate Aeluma’s results of operations in conjunction with the corresponding GAAP measures. The non-GAAP results exclude the effect of stock-based compensation, depreciation and amortization.

paragraph:34: This press release includes non-GAAP financial measures, including:

paragraph:35: ● Non-GAAP net income (loss), which is defined as GAAP net income (loss) plus stock-based compensation expenses, amortization of discount on convertible notes, and changes in fair value of derivative liabilities; and

paragraph:36: ● Adjusted EBITDA, defined as non-GAAP net income (loss) plus depreciation and amortization expenses, less interest income.

paragraph:37: A reconciliation between GAAP and non-GAAP financial results is provided in the financial statements portion of this press release.

paragraph:38: 2

paragraph:39: About Aeluma, Inc.

paragraph:40: Aeluma (www.aeluma.com) develops photonics and optoelectronics for sensing, computing, and communication applications. Aeluma has pioneered a technique to manufacture semiconductor chips using high-performance compound semiconductor materials on large-diameter substrates that are commonly used for mass-market microelectronics. The technology has the potential to enhance performance and scale manufacturing, both of which are critical for emerging applications. Aeluma is developing a streamlined business model from its headquarters in Santa Barbara, California that has a state-of-the-art manufacturing cleanroom. Its transformative semiconductor chip technology may impact a variety of markets including mobile, defense and aerospace, AI, automotive, AR/VR, quantum, and communication. Aeluma differentiates itself with unique semiconductor manufacturing capability, proprietary technology, the ability to perform rapid prototyping, and a broad set of product offerings.

paragraph:41: Forward-Looking Statements

paragraph:42: All statements in this press release that are not historical are forward-looking statements, including, among other things, statements relating to the Company’s expectations regarding its market position and market opportunity, expectations and plans as to its product development, manufacturing and sales, and relations with its partners and investors. These statements are not historical facts but rather are based on the Company’s current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expect,” “intend,” “plan,” “project,” “believe,” “estimate,” and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company’s control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.

paragraph:43: Company

paragraph:44: Aeluma, Inc.

paragraph:45: (805) 351-2707

paragraph:46: info@aeluma.com

paragraph:47: Investor Contact

paragraph:48: Bishop IR

paragraph:49: Mike Bishop

paragraph:50: (415) 894-9633

paragraph:51: ir@aeluma.com

paragraph:52: 3

paragraph:53: Aeluma, Inc. and Subsidiary

paragraph:54: Consolidated Balance Sheets (unaudited)

paragraph:55: March 31, 2025

paragraph:56: December 31, 2024

paragraph:57: June 30, 2024

paragraph:58: Assets

paragraph:59: Current assets:

paragraph:60: Cash and cash equivalents

paragraph:61: $ 3,865,659

paragraph:62: $ 3,063,059

paragraph:63: $ 1,291,072

paragraph:64: Certificate of deposit

paragraph:65: 12,000,000

paragraph:66: -

paragraph:67: -

paragraph:68: Accounts receivable

paragraph:69: 1,143,417

paragraph:70: 1,324,632

paragraph:71: 60,004

paragraph:72: Deferred compensation, current portion

paragraph:73: 3,086

paragraph:74: 6,171

paragraph:75: 20,133

paragraph:76: Prepaids and other current assets

paragraph:77: 213,833

paragraph:78: 136,307

paragraph:79: 21,637

paragraph:80: Total current assets

paragraph:81: 17,225,995

paragraph:82: 4,530,169

paragraph:83: 1,392,846

paragraph:84: Property and equipment:

paragraph:85: Equipment

paragraph:86: 1,616,669

paragraph:87: 1,572,291

paragraph:88: 1,531,494

paragraph:89: Leasehold improvements

paragraph:90: 546,864

paragraph:91: 546,864

paragraph:92: 546,864

paragraph:93: Accumulated depreciation

paragraph:94: (913,530 )

paragraph:95: (809,436 )

paragraph:96: (608,630 )

paragraph:97: Property and equipment, net

paragraph:98: 1,250,003

paragraph:99: 1,309,719

paragraph:100: 1,469,728

paragraph:101: Intangible assets

paragraph:102: 4,583

paragraph:103: 5,333

paragraph:104: 6,833

paragraph:105: Right of use asset - facility

paragraph:106: 868,145

paragraph:107: 899,623

paragraph:108: 961,626

paragraph:109: Other assets

paragraph:110: 13,014

paragraph:111: 13,014

paragraph:112: 13,014

paragraph:113: Total assets

paragraph:114: $ 19,361,740

paragraph:115: $ 6,757,858

paragraph:116: $ 3,844,047

paragraph:117: Liabilities and stockholders’ equity

paragraph:118: Current liabilities:

paragraph:119: Accounts payable

paragraph:120: $ 173,207

paragraph:121: $ 182,932

paragraph:122: $ 317,237

paragraph:123: Accrued expenses and other current liabilities

paragraph:124: 216,782

paragraph:125: 172,414

paragraph:126: 180,706

paragraph:127: Lease liability, current portion

paragraph:128: 135,854

paragraph:129: 133,460

paragraph:130: 128,743

paragraph:131: Total current liabilities

paragraph:132: 525,843

paragraph:133: 488,806

paragraph:134: 626,686

paragraph:135: Lease liability, long-term portion

paragraph:136: 838,802

paragraph:137: 873,276

paragraph:138: 941,200

paragraph:139: Derivative liabilities

paragraph:140: -

paragraph:141: 5,048,174

paragraph:142: -

paragraph:143: Convertible notes, net

paragraph:144: -

paragraph:145: 1,379,690

paragraph:146: -

paragraph:147: Total liabilities

paragraph:148: 1,364,645

paragraph:149: 7,789,946

paragraph:150: 1,567,886

paragraph:151: Commitments and contingencies

paragraph:152: -

paragraph:153: -

paragraph:154: -

paragraph:155: Stockholders’ equity (deficit):

paragraph:156: Preferred stock

paragraph:157: -

paragraph:158: -

paragraph:159: -

paragraph:160: Common stock

paragraph:161: 1,579

paragraph:162: 1,224

paragraph:163: 1,218

paragraph:164: Additional paid-in capital

paragraph:165: 33,783,427

paragraph:166: 16,215,492

paragraph:167: 15,899,304

paragraph:168: Accumulated deficit

paragraph:169: (15,787,911 )

paragraph:170: (17,248,804 )

paragraph:171: (13,624,361 )

paragraph:172: Total stockholders’ equity (deficit)

paragraph:173: 17,997,095

paragraph:174: (1,032,088 )

paragraph:175: 2,276,161

paragraph:176: Total liabilities and stockholders’ equity

paragraph:177: $ 19,361,740

paragraph:178: $ 6,757,858

paragraph:179: $ 3,844,047

paragraph:180: 4

paragraph:181: Aeluma, Inc. and Subsidiary

paragraph:182: Consolidated Statements of Operations (unaudited)

paragraph:183: Three Months Ended

paragraph:184: Nine Months Ended

paragraph:185: March 31,

paragraph:186: 2025

paragraph:187: December 31,

paragraph:188: 2024

paragraph:189: March 31,

paragraph:190: 2024

paragraph:191: March 31,

paragraph:192: 2025

paragraph:193: March 31,

paragraph:194: 2024

paragraph:195: Revenue

paragraph:196: $ 1,254,966

paragraph:197: $ 1,612,519

paragraph:198: $ 343,894

paragraph:199: $ 3,348,220

paragraph:200: $ 639,286

paragraph:201: Operating expenses:

paragraph:202: Cost of revenue

paragraph:203: 413,085

paragraph:204: 584,549

paragraph:205: 233,585

paragraph:206: 1,312,209

paragraph:207: 385,491

paragraph:208: Research and development

paragraph:209: 470,979

paragraph:210: 268,061

paragraph:211: 620,285

paragraph:212: 1,140,114

paragraph:213: 2,106,253

paragraph:214: General and administrative

paragraph:215: 1,202,372

paragraph:216: 370,311

paragraph:217: 452,792

paragraph:218: 2,069,149

paragraph:219: 1,721,820

paragraph:220: Total expenses

paragraph:221: 2,086,436

paragraph:222: 1,222,921

paragraph:223: 1,306,662

paragraph:224: 4,521,472

paragraph:225: 4,213,564

paragraph:226: Income (loss) from operations

paragraph:227: (831,470 )

paragraph:228: 389,598

paragraph:229: (962,768 )

paragraph:230: (1,173,252 )

paragraph:231: (3,574,278 )

paragraph:232: Other income (expense):

paragraph:233: Interest income

paragraph:234: 2,558

paragraph:235: 101

paragraph:236: 198

paragraph:237: 2,761

paragraph:238: 879

paragraph:239: Other expense

paragraph:240: -

paragraph:241: -

paragraph:242: (81 )

paragraph:243: -

paragraph:244: (81 )

paragraph:245: Amortization of discount on convertible notes

paragraph:246: (287,298 )

paragraph:247: (283,043 )

paragraph:248: -

paragraph:249: (715,117 )

paragraph:250: -

paragraph:251: Changes in fair value of derivative liabilities

paragraph:252: 2,577,103

paragraph:253: (3,001,480 )

paragraph:254: -

paragraph:255: (277,942 )

paragraph:256: -

paragraph:257: Total other income (expense), net

paragraph:258: 2,292,363

paragraph:259: (3,284,422 )

paragraph:260: 117

paragraph:261: (990,298 )

paragraph:262: 798

paragraph:263: Income (loss) before income tax expense

paragraph:264: 1,460,893

paragraph:265: (2,894,824 )

paragraph:266: (962,651 )

paragraph:267: (2,163,550 )

paragraph:268: (3,573,480 )

paragraph:269: Income tax expense

paragraph:270: -

paragraph:271: -

paragraph:272: -

paragraph:273: -

paragraph:274: -

paragraph:275: Net income (loss)

paragraph:276: $ 1,460,893

paragraph:277: $ (2,894,824 )

paragraph:278: $ (962,651 )

paragraph:279: $ (2,163,550 )

paragraph:280: $ (3,573,480 )

paragraph:281: Net income (loss) per share:

paragraph:282: Basic

paragraph:283: $ 0.12

paragraph:284: $ (0.24 )

paragraph:285: $ (0.08 )

paragraph:286: $ (0.18 )

paragraph:287: $ (0.29 )

paragraph:288: Diluted

paragraph:289: $ 0.11

paragraph:290: $ (0.24 )

paragraph:291: $ (0.08 )

paragraph:292: $ (0.18 )

paragraph:293: $ (0.29 )

paragraph:294: Weighted average common shares outstanding:

paragraph:295: Basic

paragraph:296: 12,472,061

paragraph:297: 12,212,403

paragraph:298: 12,175,195

paragraph:299: 12,286,284

paragraph:300: 12,338,041

paragraph:301: Diluted

paragraph:302: 13,206,919

paragraph:303: 12,212,403

paragraph:304: 12,175,195

paragraph:305: 12,286,284

paragraph:306: 12,338,041

paragraph:307: Book value per share

paragraph:308: $ 1.44

paragraph:309: $ (0.08 )

paragraph:310: $ 0.19

paragraph:311: $ 1.44

paragraph:312: $ 0.19

paragraph:313: 5

paragraph:314: Aeluma, Inc. and Subsidiary

paragraph:315: Reconciliation of GAAP and Non-GAAP Financial Measures (unaudited)

paragraph:316: Three Months Ended

paragraph:317: Nine Months Ended

paragraph:318: March 31, 2025

paragraph:319: December 31, 2024

paragraph:320: March 31, 2024

paragraph:321: March 31, 2025

paragraph:322: March 31, 2024

paragraph:323: GAAP net income (loss)

paragraph:324: $ 1,460,893

paragraph:325: $ (2,894,824 )

paragraph:326: $ (962,651 )

paragraph:327: $ (2,163,550 )

paragraph:328: $ (3,573,480 )

paragraph:329: Non-GAAP adjustments:

paragraph:330: Stock-based compensation - stock option

paragraph:331: 832,792

paragraph:332: 149,103

paragraph:333: 191,844

paragraph:334: 1,148,986

paragraph:335: 568,340

paragraph:336: Consulting and advisory - restricted stock award

paragraph:337: 3,085

paragraph:338: 6,981

paragraph:339: 6,981

paragraph:340: 17,047

paragraph:341: 25,920

paragraph:342: Amortization of discount on convertible notes

paragraph:343: 287,298

paragraph:344: 283,043

paragraph:345: -

paragraph:346: 715,117

paragraph:347: -

paragraph:348: Changes in fair value of derivative liabilities

paragraph:349: (2,577,103 )

paragraph:350: 3,001,480

paragraph:351: -

paragraph:352: 277,942

paragraph:353: -

paragraph:354: Total adjustments to GAAP net income (loss)

paragraph:355: (1,453,928 )

paragraph:356: 3,440,607

paragraph:357: 198,825

paragraph:358: 2,159,092

paragraph:359: 594,260

paragraph:360: Non-GAAP net income (loss)

paragraph:361: $ 6,965

paragraph:362: $ 545,783

paragraph:363: $ (763,826 )

paragraph:364: $ (4,458 )

paragraph:365: $ (2,979,220 )

paragraph:366: Depreciation & amortization

paragraph:367: 104,845

paragraph:368: 102,181

paragraph:369: 78,663

paragraph:370: 307,150

paragraph:371: 211,196

paragraph:372: Interest income

paragraph:373: (2,558 )

paragraph:374: (101 )

paragraph:375: 198

paragraph:376: (2,761 )

paragraph:377: 879

paragraph:378: Adjusted EBITDA

paragraph:379: $ 109,252

paragraph:380: $ 647,863

paragraph:381: $ (684,965 )

paragraph:382: $ 299,931

paragraph:383: $ (2,767,145 )

paragraph:384: GAAP net income (loss) per share - basic

paragraph:385: $ 0.12

paragraph:386: $ (0.24 )

paragraph:387: $ (0.08 )

paragraph:388: $ (0.18 )

paragraph:389: $ (0.29 )

paragraph:390: Non-GAAP adjustments

paragraph:391: (0.12 )

paragraph:392: 0.28

paragraph:393: 0.02

paragraph:394: 0.18

paragraph:395: 0.05

paragraph:396: Non-GAAP net income (loss) per share - basic

paragraph:397: $ -

paragraph:398: $ 0.04

paragraph:399: $ (0.06 )

paragraph:400: $ -

paragraph:401: $ (0.24 )

paragraph:402: GAAP net income (loss) per share - diluted

paragraph:403: $ 0.11

paragraph:404: $ (0.24 )

paragraph:405: $ (0.08 )

paragraph:406: $ (0.18 )

paragraph:407: $ (0.29 )

paragraph:408: Non-GAAP adjustments

paragraph:409: (0.11 )

paragraph:410: 0.28

paragraph:411: 0.02

paragraph:412: 0.18

paragraph:413: 0.05

paragraph:414: Non-GAAP net income (loss) per share - diluted

paragraph:415: $ -

paragraph:416: $ 0.04

paragraph:417: $ (0.06 )

paragraph:418: $ -

paragraph:419: $ (0.24 )

paragraph:420: 6

paragraph:421: Aeluma, Inc. and Subsidiary

paragraph:422: Consolidated Statements of Cash Flows (unaudited)

paragraph:423: Nine Months Ended

paragraph:424: March 31,

paragraph:425: 2025

paragraph:426: 2024

paragraph:427: Operating activities:

paragraph:428: Net loss

paragraph:429: $ (2,163,550 )

paragraph:430: $ (3,573,480 )

paragraph:431: Adjustments to reconcile net loss to net cash used in operating activities:

paragraph:432: Amortization of deferred compensation

paragraph:433: 17,047

paragraph:434: 25,920

paragraph:435: Stock-based compensation expense

paragraph:436: 1,148,986

paragraph:437: 568,340

paragraph:438: Depreciation and amortization expense

paragraph:439: 307,150

paragraph:440: 211,196

paragraph:441: Amortization of discount on convertible notes

paragraph:442: 715,117

paragraph:443: -

paragraph:444: Changes in fair value of derivative liabilities

paragraph:445: 277,942

paragraph:446: -

paragraph:447: Changes in operating assets and liabilities:

paragraph:448: Accounts receivable

paragraph:449: (1,083,413 )

paragraph:450: 41,739

paragraph:451: Prepaids and other current assets

paragraph:452: (192,196 )

paragraph:453: (76,170 )

paragraph:454: Accounts payable

paragraph:455: (144,030 )

paragraph:456: (114,561 )

paragraph:457: Accrued expenses and other current liabilities

paragraph:458: 34,270

paragraph:459: 40,826

paragraph:460: Net cash used in operating activities

paragraph:461: (1,082,677 )

paragraph:462: (2,876,190 )

paragraph:463: Investing activities:

paragraph:464: Purchase of equipment

paragraph:465: (85,175 )

paragraph:466: (316,934 )

paragraph:467: Net cash used in investing activities

paragraph:468: (85,175 )

paragraph:469: (316,934 )

paragraph:470: Financing activities:

paragraph:471: Repurchase of common stock

paragraph:472: -

paragraph:473: (4,001 )

paragraph:474: Proceed from stock option exercise

paragraph:475: 10,000

paragraph:476: -

paragraph:477: Proceeds from convertible notes issuance

paragraph:478: 3,145,000

paragraph:479: -

paragraph:480: Proceeds from Public Offering, net of costs

paragraph:481: 12,587,439

paragraph:482: -

paragraph:483: Net cash provided by (used in) financing activities

paragraph:484: 15,742,439

paragraph:485: (4,001 )

paragraph:486: Net change in cash and cash equivalent, and certificate of deposit

paragraph:487: 14,574,587

paragraph:488: (3,197,125 )

paragraph:489: Cash and cash equivalent, and certificate of deposit, beginning of period

paragraph:490: 1,291,072

paragraph:491: 5,071,690

paragraph:492: Cash and cash equivalent, and certificate of deposit, end of period

paragraph:493: $ 15,865,659

paragraph:494: $ 1,874,565

paragraph:495: Supplemental non-cash disclosures:

paragraph:496: Conversion of convertible notes to stockholders’ equity

paragraph:497: $ 1,666,988

paragraph:498: -

paragraph:499: Conversion of derivative liabilities to stockholders’ equity

paragraph:500: $ 2,471,071

paragraph:501: -

paragraph:502: 7

paragraph:1: EX-99.1

paragraph:2: 2

paragraph:3: ea023042401ex99-1_aeluma.htm

paragraph:4: PRESS RELEASE OF AELUMA, INC. DATED FEBRUARY 10, 2025

paragraph:5: Exhibit 99.1

paragraph:6: Aeluma Provides Second Quarter of Fiscal Year 2025 Results and

paragraph:7: Raises Revenue Guidance

paragraph:8: Reports Record Second Quarter with Revenue Growth over 500%

paragraph:9: Raises Revenue Outlook for Fiscal Year 2025 by 10%

paragraph:10: GOLETA, CA – February 10, 2025 –

paragraph:11: Aeluma, Inc. (OTCQB:ALMU), a semiconductor company specializing in high performance, scalable technologies for mobile, automotive, AI, defense & aerospace, communication and quantum computing, today provided a corporate update and announced financial results for the second quarter of fiscal 2025, which ended December 31, 2024.

paragraph:12: Recent Company Highlights

paragraph:13: ● Record Revenue : Recognized record high quarterly revenue of $1.6 million, growing over 500% year-over-year, reflecting continued strategic growth across government and commercial contracts

paragraph:14: ● NASA Contract Announcement : Secured NASA contract to advance quantum dot photonic integrated circuits for aerospace and AI applications

paragraph:15: ● Growing Revenue Backlog : Strengthened revenue pipeline through multiple high-impact government and commercial agreements

paragraph:16: ● Silicon Photonics Momentum : Joined AIM Photonics as full industry member in an effort to accelerate quantum dot laser technology for silicon photonics

paragraph:17: ● Intellectual Property Expansion : Filed two new patent applications for quantum computing and sensing

paragraph:18: ● Optica Membership and Leadership : Announced Optica corporate membership and CEO Jonathan Klamkin’s Industry Vice Chair role the Advanced Photonics Congress

paragraph:19: ● Magazine Article Publication : Published article in Compound Semiconductor Magazine highlighting Aeluma’s scalable, high-performance semiconductor technology

paragraph:20: ● Media Appearance : CEO Jonathan Klamkin appeared on Schwab Network to discuss semiconductor advancements for AI, Quantum Computing and Sensing

paragraph:21: ● Technical Milestone Achieved : Completed a key technical milestone for an ongoing commercial development contract

paragraph:22: ● New Contract Negotiations : Entered negotiations for additional development contracts with potential to be executed within the next fiscal quarter

paragraph:23: ● SPIE Photonics West Showcase : Highlighted innovative technologies at SPIE Photonics West Exhibition in San Francisco, California

paragraph:24: Management Commentary

paragraph:25: “Aeluma’s second-quarter performance underscores the potential for our high-performance semiconductor technologies, with revenue reaching $1.6 million, driven by strategic execution of government and commercial contracts,” said Jonathan Klamkin, Ph.D., Founder and CEO of Aeluma. “Our advancements in quantum dot photonic circuits and scalable sensing solutions position us as a leader in next-generation applications across AI, quantum computing, aerospace & defense, AR/VR, automotive, health, and mobile. With a strong IP portfolio and ongoing momentum, we are focused on scaling our business to meet the evolving needs of dynamic, high-growth markets.”

paragraph:26: Financial Results

paragraph:27: For the quarter ended December 31, 2024, revenue was $1.6 million, compared to $263 thousand in the same quarter last year, and $481 thousand in the prior quarter.

paragraph:28: The company incurred a net loss of $2.9 million, or ($0.24) per basic and diluted share, for the quarter ended December 31, 2024, compared to a net loss of $1.1 million, or ($0.09) per basic and diluted share, for the same quarter last year, and a net loss of $730 thousand, or ($0.06) per basic and diluted share, in the prior quarter. Non-GAAP income was $546 thousand for the quarter ended December 31, 2024.

paragraph:29: Adjusted EBITDA for the quarter ended December 31, 2024 was $648 thousand, compared to ($924) thousand for the same quarter last year, and ($457) thousand in the prior quarter.

paragraph:30: The Company had $3.1 million in cash and cash equivalents as of December 31, 2024, compared to $3.5 million as of September 30, 2024 and $2.4 million as of December 31, 2023.

paragraph:31: The total number of shares outstanding was 12,242,481 as of December 31, 2024.

paragraph:32: Revenue Guidance

paragraph:33: For the full year of fiscal 2025, Aeluma now expects revenue of approximately $4.4-4.6 million, a 10% increase from its previous guidance provided on September 24, 2024. This upward revision reflects confidence in the company’s growth trajectory, supported by strong contract performance and expanding market opportunities.

paragraph:34: These statements are forward looking and actual results may differ materially. Refer to the Forward-Looking Statements section below for information on the factors that could cause our actual results to differ materially from these forward-looking statements.

paragraph:35: Note about Non - GAAP Financial Measures

paragraph:36: This press release includes and makes reference to certain non-GAAP financial measures. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Aeluma believes that the presentation of non-GAAP financial measures provides important supplemental information to management and investors regarding financial and business trends relating to the Company’s financial condition and results of operations. Aeluma believes that these non-GAAP financial measures provide additional insight into Aeluma’s ongoing performance and core operational activities and has chosen to provide these measures for more consistent and meaningful comparison between periods. These measures should only be used to evaluate Aeluma’s results of operations in conjunction with the corresponding GAAP measures. The non-GAAP results exclude the effect of stock-based compensation, depreciation and amortization.

paragraph:37: This press release includes non-GAAP financial measures, including:

paragraph:38: ● Non-GAAP net income, which is defined as GAAP net loss plus stock-based compensations, amortization of discount on convertible notes and changes in fair value of derivative liabilities; and

paragraph:39: ● Adjusted EBITDA, defined as non-GAAP net loss plus depreciation and amortization expenses, less interest incom e.

paragraph:40: 2

paragraph:41: A reconciliation between GAAP and non-GAAP financial results is provided in the financial statements portion of this press release.

paragraph:42: About Aeluma, Inc.

paragraph:43: Aeluma (www.aeluma.com) develops novel optoelectronics for sensing and communication applications. Aeluma has pioneered a technique to manufacture semiconductor chips using high-performance compound semiconductor materials on large-diameter substrates that are commonly used for mass-market microelectronics. The technology has the potential to enhance performance and scale manufacturing, both of which are critical for emerging applications. Aeluma is developing a streamlined business model from its headquarters in Santa Barbara, California that has a state-of-the-art manufacturing cleanroom. Its transformative semiconductor chip technology may impact a variety of markets including automotive LiDAR, mobile, defense & aerospace, AR/VR, AI, quantum, and communication. Aeluma differentiates itself with unique semiconductor manufacturing capability, proprietary technology, the ability to perform rapid prototyping, and a broad set of product offerings.

paragraph:44: Forward-Looking Statements

paragraph:45: All statements in this press release that are not historical are forward-looking statements, including, among other things, statements relating to the Company’s expectations regarding its market position and market opportunity, expectations and plans as to its product development, manufacturing and sales, and relations with its partners and investors. These statements are not historical facts but rather are based on the Company’s current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expect,” “intend,” “plan,” “project,” “believe,” “estimate,” and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company’s control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.

paragraph:46: Company

paragraph:47: Aeluma, Inc.

paragraph:48: (805) 351-2707

paragraph:49: info@aeluma.com

paragraph:50: Investor Contact:

paragraph:51: Bishop IR

paragraph:52: Mike Bishop

paragraph:53: (415) 894-9633

paragraph:54: ir@aeluma.com

paragraph:55: 3

paragraph:56: Aeluma, Inc. and Subsidiary

paragraph:57: Consolidated Balance Sheets (unaudited)

paragraph:58: December 31,

paragraph:59: 2024

paragraph:60: September 30,

paragraph:61: 2024

paragraph:62: December 31,

paragraph:63: 2023

paragraph:64: Assets

paragraph:65: Current assets:

paragraph:66: Cash and cash equivalents

paragraph:67: $ 3,063,059

paragraph:68: $ 3,502,520

paragraph:69: $ 2,423,054

paragraph:70: Accounts receivable

paragraph:71: 1,324,632

paragraph:72: 322,189

paragraph:73: 192,992

paragraph:74: Deferred compensation, current portion

paragraph:75: 6,171

paragraph:76: 13,152

paragraph:77: 27,925

paragraph:78: Prepaids and other current assets

paragraph:79: 136,307

paragraph:80: 189,129

paragraph:81: 155,647

paragraph:82: Total current assets

paragraph:83: 4,530,169

paragraph:84: 4,026,990

paragraph:85: 2,799,618

paragraph:86: Property and equipment:

paragraph:87: Equipment

paragraph:88: 1,572,291

paragraph:89: 1,533,131

paragraph:90: 1,373,946

paragraph:91: Leasehold improvements

paragraph:92: 546,864

paragraph:93: 546,864

paragraph:94: 546,864

paragraph:95: Accumulated depreciation

paragraph:96: (809,436 )

paragraph:97: (708,005 )

paragraph:98: (430,728 )

paragraph:99: Property and equipment, net

paragraph:100: 1,309,719

paragraph:101: 1,371,990

paragraph:102: 1,490,082

paragraph:103: Intangible assets

paragraph:104: 5,333

paragraph:105: 6,083

paragraph:106: 8,333

paragraph:107: Right of use asset - facility

paragraph:108: 899,623

paragraph:109: 930,782

paragraph:110: 1,012,342

paragraph:111: Deferred compensation, long term portion

paragraph:112: -

paragraph:113: -

paragraph:114: 6,171

paragraph:115: Other assets

paragraph:116: 13,014

paragraph:117: 13,014

paragraph:118: 13,014

paragraph:119: Total assets

paragraph:120: $ 6,757,858

paragraph:121: $ 6,348,859

paragraph:122: $ 5,329,560

paragraph:123: Liabilities and stockholders’ equity

paragraph:124: Current liabilities:

paragraph:125: Accounts payable

paragraph:126: $ 182,932

paragraph:127: $ 238,100

paragraph:128: $ 162,823

paragraph:129: Accrued expenses and other current liabilities

paragraph:130: 172,414

paragraph:131: 215,288

paragraph:132: 163,900

paragraph:133: Lease liability, current portion

paragraph:134: 133,460

paragraph:135: 131,090

paragraph:136: 124,145

paragraph:137: Total current liabilities

paragraph:138: 488,806

paragraph:139: 584,478

paragraph:140: 450,868

paragraph:141: Lease liability, long term portion

paragraph:142: 873,276

paragraph:143: 907,407

paragraph:144: 1,006,736

paragraph:145: Derivative liabilities

paragraph:146: 5,048,174

paragraph:147: 2,046,695

paragraph:148: -

paragraph:149: Convertible notes, net

paragraph:150: 1,379,690

paragraph:151: 1,096,646

paragraph:152: -

paragraph:153: Total liabilities

paragraph:154: 7,789,946

paragraph:155: 4,635,226

paragraph:156: 1,457,604

paragraph:157: Commitments and contingencies

paragraph:158: -

paragraph:159: -

paragraph:160: -

paragraph:161: Stockholders’ equity:

paragraph:162: Preferred stock

paragraph:163: -

paragraph:164: -

paragraph:165: -

paragraph:166: Common stock

paragraph:167: 1,224

paragraph:168: 1,218

paragraph:169: 1,217

paragraph:170: Additional paid-in capital

paragraph:171: 16,215,492

paragraph:172: 16,066,395

paragraph:173: 15,543,634

paragraph:174: Accumulated deficit

paragraph:175: (17,248,804 )

paragraph:176: (14,353,980 )

paragraph:177: (11,672,895 )

paragraph:178: Total stockholders’ equity

paragraph:179: (1,032,088 )

paragraph:180: 1,713,633

paragraph:181: 3,871,956

paragraph:182: Total liabilities and stockholders’ equity

paragraph:183: $ 6,757,858

paragraph:184: $ 6,348,859

paragraph:185: $ 5,329,560

paragraph:186: 4

paragraph:187: Aeluma, Inc. and Subsidiary

paragraph:188: Consolidated Statements of Operations (unaudited)

paragraph:189: Three Months Ended

paragraph:190: Six Months Ended

paragraph:191: December 31,

paragraph:192: 2024

paragraph:193: September 30,

paragraph:194: 2024

paragraph:195: December 31,

paragraph:196: 2023

paragraph:197: December 31,

paragraph:198: 2024

paragraph:199: December 31,

paragraph:200: 2023

paragraph:201: Revenue

paragraph:202: $ 1,612,519

paragraph:203: $ 480,735

paragraph:204: $ 262,992

paragraph:205: $ 2,093,254

paragraph:206: $ 295,392

paragraph:207: Operating expenses:

paragraph:208: Cost of revenue

paragraph:209: 584,549

paragraph:210: 314,575

paragraph:211: 136,767

paragraph:212: 899,124

paragraph:213: 151,906

paragraph:214: Research and development

paragraph:215: 268,061

paragraph:216: 401,074

paragraph:217: 651,099

paragraph:218: 669,135

paragraph:219: 1,485,968

paragraph:220: General and administrative

paragraph:221: 370,311

paragraph:222: 496,466

paragraph:223: 603,925

paragraph:224: 866,777

paragraph:225: 1,269,028

paragraph:226: Total expenses

paragraph:227: 1,222,921

paragraph:228: 1,212,115

paragraph:229: 1,391,791

paragraph:230: 2,435,036

paragraph:231: 2,906,902

paragraph:232: Loss from operations

paragraph:233: 389,598

paragraph:234: (731,380 )

paragraph:235: (1,128,799 )

paragraph:236: (341,782 )

paragraph:237: (2,611,510 )

paragraph:238: Other income (expense):

paragraph:239: Interest income

paragraph:240: 101

paragraph:241: 102

paragraph:242: 279

paragraph:243: 203

paragraph:244: 681

paragraph:245: Amortization of discount on convertible notes

paragraph:246: (283,043 )

paragraph:247: (144,776 )

paragraph:248: -

paragraph:249: (427,819 )

paragraph:250: -

paragraph:251: Changes in fair value of derivative liabilities

paragraph:252: (3,001,480 )

paragraph:253: 146,435

paragraph:254: -

paragraph:255: (2,855,045 )

paragraph:256: -

paragraph:257: Total other income (expense), net

paragraph:258: (3,284,422 )

paragraph:259: 1,761

paragraph:260: 279

paragraph:261: (3,282,661 )

paragraph:262: 681

paragraph:263: Loss before income tax expense

paragraph:264: (2,894,824 )

paragraph:265: (729,619 )

paragraph:266: (1,128,520 )

paragraph:267: (3,624,443 )

paragraph:268: (2,610,829 )

paragraph:269: Income tax expense

paragraph:270: -

paragraph:271: -

paragraph:272: -

paragraph:273: -

paragraph:274: -

paragraph:275: Net loss

paragraph:276: $ (2,894,824 )

paragraph:277: $ (729,619 )

paragraph:278: $ (1,128,520 )

paragraph:279: $ (3,624,443 )

paragraph:280: $ (2,610,829 )

paragraph:281: Net loss per share - basic and diluted

paragraph:282: $ (0.24 )

paragraph:283: $ (0.06 )

paragraph:284: $ (0.09 )

paragraph:285: $ (0.30 )

paragraph:286: $ (0.21 )

paragraph:287: Book value per share

paragraph:288: $ (0.08 )

paragraph:289: $ 0.14

paragraph:290: $ 0.32

paragraph:291: $ (0.08 )

paragraph:292: $ 0.32

paragraph:293: Aeluma, Inc. and Subsidiary

paragraph:294: Reconciliation of GAAP and Non-GAAP Net Income (Loss) (unaudited)

paragraph:295: Three Months Ended

paragraph:296: Six Months Ended

paragraph:297: December 31,

paragraph:298: 2024

paragraph:299: September 30,

paragraph:300: 2024

paragraph:301: December 31,

paragraph:302: 2023

paragraph:303: December 31,

paragraph:304: 2024

paragraph:305: December 31,

paragraph:306: 2023

paragraph:307: GAAP net loss

paragraph:308: $ (2,894,824 )

paragraph:309: $ (729,619 )

paragraph:310: $ (1,128,520 )

paragraph:311: $ (3,624,443 )

paragraph:312: $ (2,610,829 )

paragraph:313: Non-GAAP adjustments:

paragraph:314: Stock-based compensation - stock option

paragraph:315: 149,103

paragraph:316: 167,091

paragraph:317: 135,919

paragraph:318: 316,194

paragraph:319: 376,496

paragraph:320: Consulting and advisory - restricted stock award

paragraph:321: 6,981

paragraph:322: 6,981

paragraph:323: 6,981

paragraph:324: 13,962

paragraph:325: 18,938

paragraph:326: Amortization of discount on convertible notes

paragraph:327: 283,043

paragraph:328: 144,776

paragraph:329: -

paragraph:330: 427,819

paragraph:331: -

paragraph:332: Changes in fair value of derivative liabilities

paragraph:333: 3,001,480

paragraph:334: (146,435 )

paragraph:335: -

paragraph:336: 2,855,045

paragraph:337: -

paragraph:338: Total adjustments to GAAP net loss

paragraph:339: 3,440,607

paragraph:340: 172,413

paragraph:341: 142,900

paragraph:342: 3,613,020

paragraph:343: 395,434

paragraph:344: Non-GAAP net income (loss)

paragraph:345: $ 545,783

paragraph:346: $ (557,206 )

paragraph:347: $ (985,620 )

paragraph:348: $ (11,423 )

paragraph:349: $ (2,215,395 )

paragraph:350: Depreciation & amortization

paragraph:351: 102,181

paragraph:352: 100,125

paragraph:353: 61,999

paragraph:354: 202,306

paragraph:355: 131,783

paragraph:356: Interest income

paragraph:357: (101 )

paragraph:358: (102 )

paragraph:359: (279 )

paragraph:360: (203 )

paragraph:361: (681 )

paragraph:362: Adjusted EBITDA

paragraph:363: $ 647,863

paragraph:364: $ (457,183 )

paragraph:365: $ (923,900 )

paragraph:366: $ 190,680

paragraph:367: $ (2,084,293 )

paragraph:368: GAAP net loss per share - basic and diluted

paragraph:369: $ (0.24 )

paragraph:370: $ (0.06 )

paragraph:371: $ (0.09 )

paragraph:372: $ (0.30 )

paragraph:373: $ (0.21 )

paragraph:374: Non-GAAP adjustments

paragraph:375: 0.28

paragraph:376: 0.01

paragraph:377: 0.01

paragraph:378: 0.30

paragraph:379: 0.03

paragraph:380: Non-GAAP net income (loss) per share - basic and diluted

paragraph:381: $ 0.04

paragraph:382: $ (0.05 )

paragraph:383: $ (0.08 )

paragraph:384: $ -

paragraph:385: $ (0.18 )

paragraph:386: 5

paragraph:387: Aeluma, Inc. and Subsidiary

paragraph:388: Consolidated Statements of Cash Flows (unaudited)

paragraph:389: Six Months Ended

paragraph:390: December 31,

paragraph:391: 2024

paragraph:392: 2023

paragraph:393: Operating activities:

paragraph:394: Net loss

paragraph:395: $ (3,624,443 )

paragraph:396: $ (2,610,829 )

paragraph:397: Adjustments to reconcile net loss to net cash used in operating activities:

paragraph:398: Amortization of deferred compensation

paragraph:399: 13,962

paragraph:400: 18,938

paragraph:401: Stock-based compensation expense

paragraph:402: 316,194

paragraph:403: 376,496

paragraph:404: Depreciation and amortization expense

paragraph:405: 202,306

paragraph:406: 131,783

paragraph:407: Amortization of discount on convertible notes

paragraph:408: 427,819

paragraph:409: -

paragraph:410: Changes in fair value of derivative liabilities

paragraph:411: 2,855,045

paragraph:412: -

paragraph:413: Changes in operating assets and liabilities:

paragraph:414: Accounts receivable

paragraph:415: (1,264,628 )

paragraph:416: (3,753 )

paragraph:417: Prepaids and other current assets

paragraph:418: (114,670 )

paragraph:419: (135,704 )

paragraph:420: Accounts payable

paragraph:421: (134,305 )

paragraph:422: (298,974 )

paragraph:423: Accrued expenses and other current liabilities

paragraph:424: (9,496 )

paragraph:425: 41,698

paragraph:426: Net cash used in operating activities

paragraph:427: (1,332,216 )

paragraph:428: (2,480,345 )

paragraph:429: Investing activities:

paragraph:430: Purchase of equipment

paragraph:431: (40,797 )

paragraph:432: (164,290 )

paragraph:433: Net cash used in investing activities

paragraph:434: (40,797 )

paragraph:435: (164,290 )

paragraph:436: Financing activities:

paragraph:437: Repurchase of common stock

paragraph:438: -

paragraph:439: (4,001 )

paragraph:440: Proceeds from note issuance

paragraph:441: 3,145,000

paragraph:442: -

paragraph:443: Net cash provided by (used in) financing activities

paragraph:444: 3,145,000

paragraph:445: (4,001 )

paragraph:446: Net change in cash

paragraph:447: 1,771,987

paragraph:448: (2,648,636 )

paragraph:449: Cash, beginning of period

paragraph:450: 1,291,072

paragraph:451: 5,071,690

paragraph:452: Cash, end of period

paragraph:453: $ 3,063,059

paragraph:454: $ 2,423,054

paragraph:455: 6