Aeluma Inc. 2026年季度报告

TABLE OF CONTENTS and 2024 (unaudited)2Condensed Consolidated Statements of Stockholders’ Equity for the Three and Six Months Ended December PART I – FINANCIAL INFORMATION Aeluma, Inc. and SubsidiaryNotes to Condensed Consolidated Financial Statements (unaudited) Note 1 – The Company and Basis of Presentation Throughout these notes, “the Company,” “Aeluma,” “we,” “us” and “our” refer to Aeluma, Inc. and our wholly owned subsidiaryAeluma Operating Co. (“Subsidiary”). Aeluma develops novel optoelectronic and electronic devices for sensing, communication, andcomputing applications. Aeluma has pioneered a technique to produce semiconductor materials and chips using high-performancecompound semiconductors on large-diameter substrates commonly used to manufacture mass-market microelectronics. This enablescost-effective manufacturing of high-performance photodetectors and photodetector arrays for imaging applications in mobile devicesand other applications. Aeluma’s technology is broadly applicable across mobile, automotive, artificial intelligence (“AI”), defense &aerospace, communication, augmented reality (“AR”), virtual reality (“VR”), high-performance computing, and quantum computing.Aeluma is based in Goleta, California, where the Company operates in a 9,000 sq. ft. facility with a state-of-the-art research and The accompanying condensed consolidated financial statements have been presented in accordance with U.S. generally acceptedaccountingprinciples(“GAAP”). The summary of significant accounting policies presented below is designed to assist inunderstanding the Company’s financial statements. Such financial statements and accompanying notes are the representations of theCompany’s management, who is responsible for the Company’s integrity and objectivity. This Quarterly Report on Form 10-Q for theperiod ended December 31, 2025, should be read in conjunction with our Annual Report on Form 10-K for the fiscal year ended June Cash and Cash Equivalents The Company considers cash in banks, deposits in transit, and highly liquid investments with original maturity of three months or lessto be cash and cash equivalents. As of December 31, 2025, cash and cash equivalents consisted of cash on deposit and an investment inmoney market funds. The Company’s investment in money market funds is classified within Level 1 of the fair value hierarchy Revenue Recognition The Company follows a five-step approach for recognizing revenue: (1) identifying the contract with a customer; (2) identifying theperformance obligations in the contract; (3) determining the transaction price; (4) allocating the transaction price to the performanceobligations in the contract; and (5) recognizing revenue when, or as, the entity satisfies a performance obligation. Revenue isrecognized when control of the promised goods or services is transferred to the customer. For performance obligations that aresatisfied at a single point in time, the Company recognizes revenue at the point when control transfers, which is typically upondelivery, customer acceptance, or another specified milestone defined in the contract. For performance obligations satisfied over time, ●Commercial product and service contracts: Revenue is currently generated from multiple customers for R&D-related servicesand small-volume orders. ●Government contracts: Revenue is principally generated from R&D contracts with agencies of the U.S. government or withprime contractors. These contracts may include cost-reimbursement or fixed-price terms. The Company capitalizes certain incremental costs incurred to obtain or fulfill a contract when such costs are expected to berecoverable. Prepaid costs, such as advance payments to vendors or subcontractors directly related to a customer contract, are recorded Government contracts include both cost-reimbursement and fixed-price contracts. Cost-reimbursement contracts provide for thereimbursement of allowable costs plus the payment of a fee. These contracts fall into four basic types: (i) cost-sharing contract underwhich government reimburses only a portion of the incurred costs, (ii) cost plus fixed fee contracts which provide for the payment of afixed fee irrespective of the final cost of performance, (iii) cost plus incentive fee contracts which provide for increases or decreases inthe fee, within specified limits, based upon actual results as compared to contractual targets relating to such factors as cost,performance and delivery schedule, and (iv) cost plus award fee contracts which provide for the payment of an award fee determinedat the discretion of the customer based upon the performance of the contractor against pre-established criteria. Under cost-reimbursement type contracts, the contractor is reimbursed periodically for allowable costs and is paid a portion of the fee based on For the three and six months ended December 31, 2025, the Company was awarded one government contract of $150 thousandfor theprovision of serv