Correcting and Replacing: Aeluma Provides Fourth Quarter and Fiscal Year 2024 Results

Aeluma, Inc. (OTCQB: ALMU), a semiconductor company specializing in scalable, cost-effective technologies for LiDAR, communication, and sensing, has recently provided its financial results for the fourth quarter and fiscal year 2024. The company's revenue growth, net loss, and cash flow situation have been closely scrutinized by investors and industry experts.


Aeluma's revenue growth has been on an upward trajectory over the past few quarters and fiscal years. In the fourth quarter of 2024, the company reported revenue of $344 thousand, a significant increase from the $263 thousand in the previous quarter and the $0 revenue in the same quarter last year. This growth can be attributed to the company's continued success in winning funding awards and contracts, as well as its pursuit of more significant product revenue opportunities in automotive, consumer electronics, and defense & aerospace.


The impact of funding awards and contracts on Aeluma's financial performance in the fourth quarter of 2024 was substantial. The company's revenue growth was driven by these funding awards and contracts, which helped Aeluma's technology and corporate development efforts. This growth is a testament to the company's ability to secure funding and execute on its strategic plans.


Aeluma's net loss in the fourth quarter of 2024 was $962 thousand, or $0.08 per basic and diluted share. This net loss was an improvement compared to the net loss of $1.13 million in the previous quarter and the net loss of $1.46 million in the same quarter last year. The decrease in net loss can be attributed to the company's revenue growth and cost management efforts.


In terms of cash flow, Aeluma had $1.87 million in cash and cash equivalents as of March 31, 2024. This amount is lower than the $5.07 million reported as of June 30, 2023. The decrease in cash and cash equivalents can be attributed to the company's operating activities and capital expenditures. Despite the decrease, Aeluma's cash flow situation remains strong, providing the company with the liquidity needed to support its growth initiatives.


In conclusion, Aeluma's financial results for the fourth quarter and fiscal year 2024 demonstrate the company's ability to generate revenue growth, improve its net loss, and maintain a strong cash flow situation. The company's success in securing funding awards and contracts, as well as its pursuit of more significant product revenue opportunities, has contributed to its positive financial performance. As Aeluma continues to execute on its strategic plans, investors and industry experts will closely monitor the company's progress in the coming quarters and fiscal years.