-- Awarded NASA Contract for Quantum and RFSUNY Contract for Silicon 
      Photonics Laser 
 
   -- Recently Appointed Senior Vice President of Business Development and 
      Product to Drive Go-to-Market Plan 
 
   -- Cash and Cash Equivalents as of December 31, 2025 of $38.6 Million 

GOLETA, Calif., Feb. 11, 2026 (GLOBE NEWSWIRE) -- Aeluma, Inc. $(ALMU)$ ("Aeluma" or the "Company"), a transformative semiconductor company specializing in high-performance and scalable technologies, today reported financial results for its second quarter of fiscal 2026 ended December 31, 2025.

Management Commentary

"The second quarter marked another big step forward for Aeluma as we gear up for commercialization," said Jonathan Klamkin, Ph.D., Founder and CEO of Aeluma. "We ramped engagements across our target markets and increased visibility at a major industry conference. We are experiencing growing and sustained interest in Aeluma as our technology takes shape and market demand increases across mobile, data centers, and defense."

"During the quarter, we continued to increase operations with foundry partners and are delighted with the performance, quality, and yield of wafers being tested at Aeluma's facility," Klamkin continued. "Relationships with customers and partners are strengthening, and we are fortunate that Bouch Nessar, our new Senior Vice President of Business Development and Product, has joined at this pivotal time to accelerate our go-to-market plan. Our IP portfolio also continues to expand, now counting 35 issued and pending patents, with our most recent application related to large-scale manufacturing of high-performance semiconductors."

Klamkin concluded, "We are receiving increasing requests for price quotations and have begun taking sales orders. While these initial orders are relatively small in value, this marks an important milestone toward broader market adoption. As we move through fiscal 2026, we are intensely focused on commercialization and building long-term value."

Recent Company Highlights

   -- Growing Market Traction and Visibility: Increased engagement with 
      customers, partners, and government agencies, reflecting rising awareness 
      of Aeluma's scalable semiconductor platform across mobile and consumer 
      electronics, data centers and AI infrastructure, and defense. 
 
   -- Leadership and Team Expansion: Added experienced leadership and technical 
      talent, including Bouchaib (Bouch) Nessar as Senior Vice President of 
      Business Development and Product to drive go-to-market strategy, 
      alongside other key hires in supply chain manufacturing, technology 
      enablement, and engineering. 
 
   -- Expanded Engagements with Manufacturing Partners: Continued to fabricate 
      wafers with foundries to qualify Aeluma processes for key end markets. 
      Strengthened relationships with manufacturing partners to accelerate 
      transition to production. 
 
   -- Bolstered Wafer-Scale Test and Validation Capabilities: Following our 
      November asset acquisition announcement, we installed and commissioned 
      automated wafer probers and other equipment to accelerate testing of 
      semiconductor photonic components. This will help qualify foundry 
      manufacturing processes for key target markets. 
 
   -- Continued R&D Contracts Progress: Building on recently announced NASA 
      contract for quantum, we received additional contract funding from RFSUNY 
      aimed at integrating quantum dot lasers directly into the AIM Photonics 
      300mm silicon photonics platform. Also received several additional award 
      notices, reinforcing customer confidence in Aeluma's technology and 
      supporting expectations for additional contracts this year. 
 
   -- Consortium Membership Expands Defense and Commercial Footprint: Admitted 
      to MMEC consortium during the quarter, strengthening Aeluma's position 
      within the defense and commercial ecosystem and enhancing access to 
      government and defense opportunities. 
 
   -- Industry Award Validation: Recipient of 2025 LEAP Award for Advanced 
      Materials Innovation, recognizing Aeluma's disruptive SWIR platform. 
      Award highlights Aeluma's competitive advantage in bridging 
      high-performance sensing with scalable and mass-market semiconductor 
      manufacturing. 
 
   -- Visibility and Marketing at SPIE Photonics West: Presented a breakthrough 
      paper on scalable 200mm silicon integration for quantum photonics and 
      hosted exhibition booth with strong customer and partner engagement. 
 
   -- Expanded Intellectual Property Portfolio: Increased total issued and 
      pending patents to 35, with a recent filing focused on scalable, 
      high-performance photonics for 3D imaging and data center applications. 

Fiscal Q2 2026 Financial Results

   -- Revenue was $1.3 million compared to $1.6 million in the second quarter 
      of 2025, and $1.4 million in the first quarter of 2025. Revenue in the 
      quarter was primarily from R&D contracts. 
 
   -- GAAP net loss was $1.9 million, or ($0.11) per basic and diluted share, 
      compared to a net loss of $2.9 million, or ($0.24) per basic and diluted 
      share, for the same period last year and net loss of $1.5 million, or 
      ($0.09) per basic and diluted share, in the prior quarter. GAAP net loss 
      increased from the prior quarter primarily due to higher salaries, 
      stock-based compensation and employee benefits driven by new employee 
      hires to support the expansion of the business and scaling of operations. 
 
   -- Adjusted EBITDA loss was $917 thousand, compared to a gain of $647 
      thousand in the same period last year, and a loss of $450 thousand in the 
      prior quarter. Adjusted EBITDA loss increased year over year and quarter 
      over quarter primarily due to higher salaries, stock-based compensation 
      and employee benefits for new employee hires. 
 
   -- Cash and cash equivalents totaled $38.6 million at December 31, 2025, 
      compared to $15.7 million at June 30, 2025. 

Fiscal Year 2026 Guidance and Strategic Priorities

For the full fiscal year of 2026, based on current and anticipated market conditions, Aeluma continues to expect revenue in a range of $4.0 million to $6.0 million. The following reaffirms the Company's strategic priorities for 2026:

   -- New Contract Wins: Three to seven new development contracts, which 
      provide non-dilutive funding for R&D investments and the growth of 
      partnership opportunities. 
 
   -- Team Expansion: Growth of our business development and go-to-market team, 
      technical leadership and staff, and operations team. 
 
   -- Enhanced Manufacturing Readiness: Increased outsourced wafer 
      manufacturing productivity. Expanded test and validation capabilities, 
      technology qualification for targeted industries, and supply chain 
      partnerships. 
 
   -- Go-to-Market Traction: Product roadmap being driven by continued progress 
      in target commercial markets across mobile and consumer electronics, 
      photonics for AI infrastructure, and defense and aerospace. 

Conference Call and Webcast

Aeluma will host a conference call at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on February 11, 2026, to discuss the Company's financial results and business outlook. Interested participants may access the conference the call by dialing (877) 317-6789 (domestic) or (412) 317-6789 (international) and referencing "Aeluma."

A live webcast of the call will be available on the "Investors" section of Aeluma's website and can also be accessed by clicking here. A replay of the conference call will be available on Aeluma's website shortly after the call concludes.

Note about Non-GAAP Financial Measures

This press release includes and makes reference to certain non-GAAP financial measures. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Aeluma believes that the presentation of non-GAAP financial measures provides important supplemental information to management and investors regarding financial and business trends relating to the Company's financial condition and results of operations. Aeluma believes that these non-GAAP financial measures provide additional insight into Aeluma's ongoing performance and core operational activities and has chosen to provide these measures for more consistent and meaningful comparison between periods. These measures should only be used to evaluate Aeluma's results of operations in conjunction with the corresponding GAAP measures. The non-GAAP results exclude the effect of stock-based compensation, depreciation and amortization.

This press release includes non-GAAP financial measures, including:

   -- Non-GAAP net income (loss), which is defined as GAAP net income (loss) 
      plus stock-based compensation expenses, amortization of discount on 
      convertible notes, and changes in fair value of derivative liabilities; 
      and 
 
   -- Adjusted EBITDA, defined as non-GAAP net income (loss) plus depreciation 
      and amortization expenses, less interest income. 

A reconciliation between GAAP and non-GAAP financial results is provided in the financial statements portion of this press release.

Forward-Looking Statements

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