AIXTRON SE

Aeluma Inc is shifting its near-term commercialization focus to the AI datacom market, backed by a letter of intent with the Department of Commerce CHIPS R&D Office for up to $30 million in non-dilutive funding. The company ended fiscal 2026 with $56 million in cash and no debt, but reported a net loss of $9.2 million, wider than the $3 million loss in fiscal 2025, and adjusted EBITDA of negative $5.2 million versus positive $186,000 a year earlier. Aeluma expects government contract revenue to fall to approximately $2.3 million in fiscal 2027 from $4.5 million in fiscal 2026, while planning capital expenditures of $10 million to $12 million, mainly for two Aixtron G10 MOCVD reactors. The company strengthened its manufacturing partnership with Sumitomo Chemical Advanced Technologies and is negotiating commercial NRE agreements, though no deals are guaranteed. Management said the CHIPS award, if finalized, would likely be accounted for as an equity investment by the U.S. government rather than revenue.

Aixtron reported second-quarter orders of €215 million, with optoelectronics accounting for 75% of the total as AI data centers accelerate adoption of 800G and future 1.6T optical connectivity. Revenue rose to €115 million from €59 million in the first quarter, while EBIT returned to a €15 million profit and free cash flow reached €114 million. Management expects strong optoelectronics demand through late 2026 and into 2027, and reaffirmed its 2026 revenue outlook of €560 million, plus or minus €30 million. Recovery remains uneven, with silicon carbide, gallium nitride power electronics, and LED and Micro LED markets still cautious, while the company begins construction of a new facility in Malaysia to expand manufacturing capacity.