Home / Going-concern warnings / Aeluma, Inc.
Filed 2026-02-11 路 Form 10-Q 路 Accession 0001213900-26-014999 micro
Price before filing: $16.63 (2026-02-10 close, split/dividend-adjusted)
Market cap at flag: $291.4M (2026-02-11) 路 Latest: $140.4M (2026-10-16)
| Window | ALMU | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -10.9% | -4.3% | -6.6% | 2026-03-13 |
| 90 days | +63.0% | +6.9% | +56.1% | 2026-05-12 |
| 180 days | +3.7% | +12.3% | -8.6% | 2026-08-10 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 1 insider sold $8.8M (32 sales)
30 days after: 2 insiders sold $1.3M (4 sales)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-12-04 | Tompkins Mark N. 10% owner | Sale | 11,500 | $15.49 | $178K | no | Form 4 |
| 2025-12-04 | Tompkins Mark N. 10% owner | Sale | 18,500 | $16.37 | $303K | no | Form 4 |
| 2025-12-05 | Tompkins Mark N. 10% owner | Sale | 28,390 | $16.12 | $458K | no | Form 4 |
| 2025-12-05 | Tompkins Mark N. 10% owner | Sale | 1,610 | $16.49 | $27K | no | Form 4 |
| 2025-12-08 | Tompkins Mark N. 10% owner | Sale | 39,012 | $16.04 | $626K | no | Form 4 |
| 2025-12-08 | Tompkins Mark N. 10% owner | Sale | 988 | $16.87 | $17K | no | Form 4 |
| 2025-12-09 | Tompkins Mark N. 10% owner | Sale | 10,861 | $16.39 | $178K | no | Form 4 |
| 2025-12-09 | Tompkins Mark N. 10% owner | Sale | 19,139 | $17.06 | $327K | no | Form 4 |
| 2025-12-10 | Tompkins Mark N. 10% owner | Sale | 20,000 | $17.49 | $350K | no | Form 4 |
| 2025-12-18 | Tompkins Mark N. 10% owner | Sale | 20,000 | $14.37 | $287K | no | Form 4 |
| 2025-12-19 | Tompkins Mark N. 10% owner | Sale | 30,000 | $14.70 | $441K | no | Form 4 |
| 2025-12-22 | Tompkins Mark N. 10% owner | Sale | 35,000 | $14.83 | $519K | no | Form 4 |
| 2025-12-23 | Tompkins Mark N. 10% owner | Sale | 15,000 | $14.87 | $223K | no | Form 4 |
| 2025-12-24 | Tompkins Mark N. 10% owner | Sale | 15,000 | $16.05 | $241K | no | Form 4 |
| 2025-12-26 | Tompkins Mark N. 10% owner | Sale | 6,970 | $16.91 | $118K | no | Form 4 |
| 2025-12-26 | Tompkins Mark N. 10% owner | Sale | 20,368 | $18.01 | $367K | no | Form 4 |
| 2025-12-26 | Tompkins Mark N. 10% owner | Sale | 2,662 | $18.39 | $49K | no | Form 4 |
| 2026-01-20 | Tompkins Mark N. 10% owner | Sale | 29,112 | $20.66 | $601K | no | Form 4 |
| 2026-01-20 | Tompkins Mark N. 10% owner | Sale | 888 | $21.58 | $19K | no | Form 4 |
| 2026-01-21 | Tompkins Mark N. 10% owner | Sale | 30,328 | $18.52 | $562K | no | Form 4 |
| 2026-01-21 | Tompkins Mark N. 10% owner | Sale | 12,947 | $19.30 | $250K | no | Form 4 |
| 2026-01-21 | Tompkins Mark N. 10% owner | Sale | 1,715 | $20.44 | $35K | no | Form 4 |
| 2026-01-21 | Tompkins Mark N. 10% owner | Sale | 10 | $21.24 | $212 | no | Form 4 |
| 2026-01-22 | Tompkins Mark N. 10% owner | Sale | 29,038 | $18.05 | $524K | no | Form 4 |
| 2026-01-22 | Tompkins Mark N. 10% owner | Sale | 962 | $18.81 | $18K | no | Form 4 |
| 2026-02-11: red flag filed | |||||||
Showing 25 of 36 transactions.
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-11-13 to 2026-03-13. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"As previously disclosed, we had expressed substantial doubt about our ability to continue as a going concern due to recurring losses and negative operating cash flows."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2025-12-31)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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