Fri, Sep 27, 8:01 PM (93 days ago)
Aeluma, Inc. reported significant growth in revenue for the fiscal year ending June 30, 2024, with total revenue reaching $918,554, a 375.1% increase from $193,339 in 2023. This growth was driven primarily by government contracts, contributing $853,798. Operating expenses decreased slightly by 3.9% to $5,481,862, reflecting reduced consulting costs, though salaries and stock-based compensation rose. The net loss narrowed to $4,562,295 from $5,379,582, indicating improved financial performance. The company is focused on developing advanced optoelectronic devices, leveraging proprietary technology for applications in imaging and sensing markets. Aeluma has secured contracts totaling $1,323,237 from various government entities, enhancing its market position. However, the company faces liquidity challenges, with cash reserves of $1,291,072 insufficient to support ongoing operations, necessitating further capital raising efforts. Looking ahead, Aeluma aims to penetrate markets for 3D imaging, LiDAR, and communications, while managing risks related to funding and operational scalability. The company’s intellectual property strategy and ongoing partnerships are critical for future growth and competitiveness.