Aeluma Locks Aixtron MOCVD Deal as Loss Widens

The Tip Desk · November 13, 2026 · 3 min read

The photonics company booked a $3.8 million net loss, or $0.19 a share, in the quarter ended September 30, 2026, as it advanced AI-datacom work and CHIPS talks.

Aeluma, Inc. (ALMU), a semiconductor company specializing in high-performance, scalable technologies for AI, mobile and consumer, defense and aerospace, and quantum, reported a net loss of $3.8 million, or $0.19 a share, for the first quarter of fiscal 2027 ended September 30, 2026, compared with a net loss of $1.5 million, or $0.09 a share, a year earlier.

Revenue was $0.6 million, generated primarily from R&D contracts, versus $1.4 million in the first quarter of fiscal 2026. Adjusted EBITDA loss was $2.7 million, compared with an adjusted EBITDA loss of $0.4 million a year earlier.

The company said it finalized a purchase agreement with Aixtron for a new 200 mm capable MOCVD system to expand manufacturing capacity and accelerate development for non-indium-phosphide photonics. It also advanced development of high-speed photodetectors and quantum dot lasers, leveraging capabilities at Aeluma and supply chain partners such as Sumitomo Chemical Advanced Technologies.

Customer discussions expanded in Datacom and other markets around product opportunities and non-recurring engineering investments. The company said several initiatives involve potentially high-volume demand to support the 2028 through 2032 AI infrastructure buildout. It continued diligence and definitive agreement negotiations with the U.S. Department of Commerce CHIPS R&D Office for up to $30 million in proposed funding for development and commercialization of photonics for AI and Advanced Computing.

Founder and CEO Jonathan Klamkin said the current U.S. AI infrastructure buildout continues to progress and is expected to reach an aggregate investment of $10.3 trillion in 2032, and that opportunities for photonics span scale-up and scale-out AI architectures in data centers. He said demand includes lasers, modulators, photodetectors, and photonic integrated circuits, and that supply chains are constrained, including indium phosphide substrate production and wafer fab capacity. Aeluma’s technology, he said, leverages gallium arsenide or silicon substrates and existing fabs already qualified for large-volume markets.

Research and development expense was $2.5 million in the three months ended September 30, 2026, versus $2.3 million in the three months ended June 30, 2026. General and administrative expense was $2.0 million, versus $2.2 million in the prior quarter. Cost of revenue was $339 thousand. Loss from operations was $4.2 million. Interest income was $492 thousand.

Net cash used in operating activities was $1.7 million in the three months ended September 30, 2026, versus $0.8 million a year earlier. Cash and cash equivalents totaled $53.9 million at September 30, 2026, compared with $56.0 million at June 30, 2026. Weighted average common shares outstanding were 19.3 million.

In the prior quarter, the company had reported revenue of $0.6 million, a net loss of $4.0 million, or $0.22 a share, and an adjusted EBITDA loss of $2.9 million. Cash at June 30, 2026 was $56.0 million after adding $20.1 million in that period. That release said fiscal 2027 would focus on technology and product development and expanding customer engagements, including NRE negotiations in AI datacom, team growth, and MOCVD wafer production capacity.

Aeluma said it remains focused on technology and product development for AI Datacom opportunities as it progresses through fiscal 2027, with high-speed photodetectors and quantum dot lasers continuing to attract customer attention. It will host a conference call on November 12, 2026, and its 2026 Annual Meeting of Stockholders is scheduled for November 19, 2026.