Aeluma, Inc. Reports Net Loss of $5.4 Million for the Year

Aeluma, Inc. [ALMU], a leading technology company, has released its annual financial report for the year ended June 30, 2023. The company recorded a net loss of $5.4 million during the period, compared to a net loss of $3.5 million in the previous year. Despite the loss, the company achieved strong annual revenue of $193 million.

Financial Performance

Despite the challenging financial performance, Aeluma, Inc. demonstrated resilience in its operations. The company reported total expenses of $5.7 million, compared to $3.7 million in the previous year. The increase in expenses was primarily driven by higher research and development costs, as well as general and administrative expenses. The company invested in its future growth by focusing on innovation and expanding its team.