Aeluma, Inc.

Aeluma, Inc. (NASDAQ:ALMU) is a semiconductor company founded in 2019 and headquartered in Goleta, California. The company went public in November 2022 and specializes in developing advanced optoelectronic devices that combine optical and electronic functions. Aeluma focuses on creating compound semiconductor solutions that can be manufactured on standard silicon wafers, positioning itself at the intersection of traditional semiconductor manufacturing and emerging photonic technologies for sensing and communications applications.

Based on the available financial data, Aeluma has demonstrated significant operational progress over the past few years. The company has successfully transitioned from a pre-revenue research and development stage in fiscal 2022 to generating meaningful commercial revenue, with quarterly sales reaching $1.25 million in Q3 2025. The most notable development has been the company's path to operational cash flow positivity, achieving positive operating cash flow of $428,000 in Q3 2025 after several quarters of cash consumption. This represents a critical milestone for the company, suggesting that its products are gaining market acceptance and that the business model is beginning to demonstrate viability. Revenue growth has been substantial, with the company showing strong quarter-over-quarter growth momentum. The progression from $279,000 in Q4 2024 to $1.25 million in Q3 2025 indicates successful customer acquisition and potentially increased order volumes from existing customers. The company has also strengthened its balance sheet position, with current assets increasing significantly to over $17 million in Q3 2025, providing substantial runway for continued operations and growth investments. This improved financial position likely reflects successful fundraising activities and better working capital management as the business scales.