Aeluma, Inc.

Good day, and thank you for standing by. Welcome to Illuma's Q1 fiscal year 2026 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. Please be advised that today's conference call is being recorded. At this time, I would like to turn the call over to Tony Rossi, investor relations for Illuma. Please go ahead.

Thanks, Gary. Good afternoon and welcome to Aluma's first quarter fiscal 2026 earnings call. I'm here today with founder and CEO Jonathan Clampkin and CFO Christopher Stewart. Today's discussions and responses to questions may include forward-looking statements which are subject to various risks and uncertainties that could cause our actual results to differ materially from these statements. These risks and uncertainties are detailed in the earnings press release issued today along with the reports filed with the United States Securities and Exchange Commission. These reports, along with today's earnings release, can be found under the Investors section of our website. Illuma assumes no obligation to update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this call. Throughout the discussion, the company will refer to non-GAAP financial measures, including EBITDA and adjusted EBITDA. A reconciliation of our non-GAAP financial measures to the most directly comparable GAAP measures is included in our earnings press release and SEC filings. Now I'll turn the call over to Illuma's CEO, Jonathan Clampkin.

Thank you, Tony. And thank you all for joining. Let's begin with the growing spotlight on AI adoption. It's rapid acceleration is driving unprecedented demand for optical component technologies for AI infrastructure. In response, Illuma has fast tracked the transition to commercial scale production of our high performance semiconductors. Illuma builds critical semiconductor photonics, including high-speed transceiver components and high-power quantum dot lasers for optical interconnects. We've invested in a breakthrough manufacturing platform with the potential to meet the performance, scale, and cost requirements for AI and other large volume markets. The way cloud computing became the new standard for deploying and managing digital services, we believe Illuma's approach will become the way of the future for semiconductor manufacturing. That is the definition of a disruptive technology. Think of the impact in the context of what is happening on a global scale. Demand for semiconductors in U.S. markets is at an all-time high, yet many fabs are overseas, and supply chain issues are impeding the usual way of doing things. Turn to Illuma. We do not rely on expensive indium phosphide substrates that now have historically long lead times and historically high prices. We currently work with multiple US-based fabs, including one well-known large volume pure play foundry. Manufacturing on small substrates made of materials that in short supply and with low volume specialty fabrication processes will not suffice. And Illuma is here to capitalize on this opportunity. The market for optical component technologies and AI infrastructure alone is projected to be several billion dollars within just a few years. And Illumis technology also applies to other high growth market verticals, including defense and aerospace, mobile and consumer electronics, industrial and robotics, to name a few. As we navigate a period of unprecedented demand, customer opportunities continue to expand, fueling our go-to-market plan. How were we executing? To begin, we completed an oversubscribed capital raise which strengthened our no debt balance sheet and boosted our cash to $38 million. With this strong financial position, plus the revenue generated from R&D contracts, we continue to execute our strategic priorities and accelerate our transition to commercialization. Our ongoing R&D contracts reflect our dual-use technology approach to address market needs. We selectively bid on programs to advance technologies important to government customers, but that also have commercial applications in our target markets. This quarter, we signed a new contract with NASA to leverage our scalable semiconductor platform for quantum. Our approach provides a path to low-size weight and power quantum systems making them viable for space-based platforms. Programs like this provide non-dilutive funding for development, while commercial companies evaluate our technology for potential integration. As a reminder, Alumis technology combines best-in-class semiconductor materials with large-volume microelectronics manufacturing. We recently announced that, in collaboration with Thorlabs, We will be delivering a presentation on Aluma's scalable photonics platform at SPIE Photonics West Conference in January. This is the world's largest annual conference and exhibition for optics and photonics technologies, and we look forward to sharing our breakthrough at this prestigious gathering. We will also host a company booth at the exhibition, which is a terrific venue to meet with existing and potential customers and to showcase our technologies. Key to our go-to-market plan is increasing manufacturing readiness. This means qualifying our processes for production. To do so, we have increased wafer fabrication levels at our foundry partners nearly five-fold and made an investment in wafer-scale test capabilities. On the latter, we recently inked an amazing deal to acquire significant capital equipment assets from a major components and solutions provider at nearly one cent on the dollar. Also critical to increasing manufacturing readiness is adding team members to our team. We recently filled important roles, including director of supply chain manufacturing, director of technology enablement, among others, and we continue to recruit in the areas of business development, manufacturing, and operations. I am thrilled at the caliber of applicants we are interviewing. What we are doing at Aluma is attracting elite candidates, and we look forward to adding more talent to the team as we drive our transformative technology forward. The demand for high performance semiconductor components continues to rise, especially for photonic technologies supporting the adoption of AI. It's exciting to see new customer opportunities converging around our vision, growing interest in our technology, and the meaningful impact we're poised to deliver at scale. As we deepen and expand engagements with prospective customers, we're uncovering even greater opportunity aligned with our offerings and product roadmap. This reinforces confidence in our technology, approach, and business model. All pieces are falling in place to create the one plus one equals three value proposition that we believe paints a bright future for Aluma its customers, and its shareholders. Now I'll turn the call over to our CFO, Chris Stewart, to discuss the financials.