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GOLETA, CA - Aeluma, Inc. (NASDAQ:ALMU), a semiconductor company currently trading at $6.72 with a market capitalization of $104 million, has announced a new contract with the U.S. Department of Energy (DOE) to advance the development of low-cost shortwave infrared (SWIR) photodetectors, aiming to enhance commercial viability in various sectors. The company has shown remarkable momentum, with its stock surging over 130% in the past six months, according to InvestingPro data. This technology is anticipated to support critical applications such as quality inspection, remote sensing, and machine vision, as well as consumer markets like mobile, AR/VR, and automotive.
The DOE-funded project will focus on creating SWIR devices that can be manufactured at scale, offering high sensitivity and energy efficiency. Dr. Jonathan Klamkin, Founder and CEO of Aeluma, emphasized that the contract will help overcome the current limitations of SWIR technologies, such as high costs and power inefficiencies, by delivering a scalable, CMOS-compatible solution. The company maintains a strong financial position with a current ratio of 9.27, indicating robust liquidity to support its development initiatives. For detailed financial analysis and additional insights, investors can access more than 8 exclusive ProTips on InvestingPro.
Aeluma’s approach integrates high-performance compound semiconductors with large-diameter substrates, which is expected to result in cost-effective sensors for real-time inspection and imaging. The DOE support signifies the urgency to bring SWIR sensing to mainstream markets and aligns with Aeluma’s broader commercial strategy that includes mobile, AR/VR, defense and aerospace, AI infrastructure, communication, and quantum computing.
This contract marks the second DOE-funded initiative for Aeluma, following previous collaborations with DARPA, the Navy, the Office of the Secretary of Defense, the Air Force, and NASA. The company’s technology has the potential to impact a wide range of markets with its unique semiconductor manufacturing capabilities and proprietary technology.
The information in this article is based on a press release statement from Aeluma, Inc. The company cautions that the forward-looking statements in the release are not guarantees of future performance and involve risks and uncertainties. Actual results may vary due to a number of factors. With an impressive revenue growth of 456% in the last twelve months and a beta of -2.09 indicating counter-market movement, Aeluma presents a unique investment profile. InvestingPro analysis suggests the stock is currently trading slightly above its Fair Value. Aeluma has committed to developing its technology from its headquarters in Santa Barbara, California, which houses a state-of-the-art manufacturing cleanroom.
In other recent news, Aeluma, Inc. has announced the pricing of its public offering at $5.25 per share for 2,285,714 shares, aiming to raise approximately $12 million in gross proceeds. The company plans to use these funds for business development, manufacturing advancements, and general corporate purposes. Aeluma’s shares are set to begin trading on the Nasdaq Capital Market, marking a significant milestone for the company. Additionally, Aeluma has appointed Mike Byron, a former NVIDIA executive, to its Board of Directors, bringing over three decades of semiconductor finance and operations experience. Byron’s appointment is part of Aeluma’s strategy to expand its high-performance technologies in sectors like AI and quantum computing. The company is recognized for its partnerships with NASA, the Department of Defense, and the Department of Energy. These developments reflect Aeluma’s efforts to enhance its position in U.S.-based semiconductor innovation.
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