Reported results
- Full year 2026 revenue was $4.5 million compared to $4.7 million in the prior year, primarily from government R&D contracts
- GAAP net loss was $9.2 million, or ($0.52) per basic and diluted share, compared to net loss of $3.0 million, or ($0.23) per basic and diluted share, in the prior year
- Adjusted EBITDA loss was $5.2 million compared to a gain of $0.2 million in the prior year
- Cash and cash equivalents totaled $56.0 million at June 30, 2026, increased by $20.1 million from net proceeds of an at-the-market offering
- Signed letter of intent with Department of Commerce CHIPS R&D Office for up to $30 million for development and commercialization of photonics for AI and Advanced Computing
- Executed six new contracts totaling $5.3 million in value, including awards from NASA and the U.S. Navy
Notes
The CHIPS LOI is subject to definitive agreement negotiations. Net loss and adjusted negative EBITDA increased year-over-year primarily reflecting investments in strategic new hires and manufacturing readiness.
Price and volatility reaction
Source
The figures above come from the earnings release the company filed with the SEC on 2026-09-16 (8-K, Item 2.02). Read the original filing on sec.gov.
