Episode Details

Aeluma, Inc. (ALMU) Q4 FY2026 — The saved preliminary after-hours trade was $11.10 at 19:58:09 EDT on September 16, down 17.35% from the $13.43 regular-session close. Aeluma has cash for development, but its conditional CHIPS proposal involves equity securities equal in value to the award. Commercial demand must still justify the higher spending and ownership claims. THE CALL: SELL (2/5, LOW) — base-case value ~$7.00 vs ~$11.10 today. KEY METRICS: - Q4 revenue $0.582M, down 55.81% YoY - Q4 GAAP net loss $4.013M; EPS −$0.22 - Q4 non-GAAP net loss $2.705M; adjusted EPS −$0.15 - June 30 cash $56.006M; September 11 basic shares 19.265671M - FY2026 computed free cash flow −$3.912M - CHIPS proposal up to $30M; conditional award with equal-value equity - SELL 2/5; base $7; weighted $7.85; range $2–20 What to watch: Quarterly revenue above $1.5M with recurring commercial contribution, disciplined operating cash use and verified funding/ownership terms. Full research packet: https://chargedalpha.com/research/almu-q4-fy2026 Also on YouTube: @ChargedAlpha DISCLAIMER: For informational and educational purposes only. Not financial advice. Do your own research before any investment decision.