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Side-by-side financial comparison of Aeluma, Inc. (ALMU) and MultiSensor AI Holdings, Inc. (MSAI). Click either name above to swap in a different company.
MultiSensor AI Holdings, Inc. is the larger business by last-quarter revenue ($1.4M vs $1.3M, roughly 1.1× Aeluma, Inc.). Aeluma, Inc. runs the higher net margin — -145.7% vs -164.1%, a 18.4% gap on every dollar of revenue. On growth, MultiSensor AI Holdings, Inc. posted the faster year-over-year revenue change (-0.9% vs -21.1%). Aeluma, Inc. produced more free cash flow last quarter ($-282.0K vs $-2.6M).
Aeluma, Inc. is a U.S.-headquartered technology firm focused on the design, development, and production of high-performance optoelectronic components and semiconductor products. Its core offerings include photonic sensors and laser diodes, serving the LiDAR, 5G/6G communication, industrial sensing, and automotive markets across North America and the Asia-Pacific region.
Figure AI, Inc. is an American robotics company developing AI-powered humanoid robots. The company was founded in 2022 by Brett Adcock, also known for founding Archer Aviation and Vettery.
ALMU vs MSAI — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.3M | $1.4M |
| Net Profit | $-1.9M | $-2.3M |
| Gross Margin | 27.8% | — |
| Operating Margin | -163.6% | -171.6% |
| Net Margin | -145.7% | -164.1% |
| Revenue YoY | -21.1% | -0.9% |
| Net Profit YoY | 36.0% | 23.7% |
| EPS (diluted) | $-0.11 | $-0.02 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.3M | $1.4M | ||
| Q3 25 | $1.4M | $1.6M | ||
| Q2 25 | — | $1.4M | ||
| Q1 25 | — | $1.2M | ||
| Q4 24 | — | $1.4M | ||
| Q3 24 | — | $1.6M | ||
| Q2 24 | — | $2.1M | ||
| Q1 24 | — | $2.3M |
| Q4 25 | $-1.9M | $-2.3M | ||
| Q3 25 | $-1.5M | $-1.7M | ||
| Q2 25 | — | $-3.3M | ||
| Q1 25 | — | $-4.4M | ||
| Q4 24 | — | $-3.0M | ||
| Q3 24 | — | $-8.2M | ||
| Q2 24 | — | $-6.4M | ||
| Q1 24 | — | $-3.9M |
| Q4 25 | 27.8% | — | ||
| Q3 25 | 49.4% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -163.6% | -171.6% | ||
| Q3 25 | -116.1% | -107.6% | ||
| Q2 25 | — | -233.8% | ||
| Q1 25 | — | -394.6% | ||
| Q4 24 | — | -199.6% | ||
| Q3 24 | — | -541.5% | ||
| Q2 24 | — | -228.1% | ||
| Q1 24 | — | -112.7% |
| Q4 25 | -145.7% | -164.1% | ||
| Q3 25 | -107.8% | -106.5% | ||
| Q2 25 | — | -234.1% | ||
| Q1 25 | — | -379.1% | ||
| Q4 24 | — | -213.2% | ||
| Q3 24 | — | -511.5% | ||
| Q2 24 | — | -300.8% | ||
| Q1 24 | — | -172.4% |
| Q4 25 | $-0.11 | $-0.02 | ||
| Q3 25 | $-0.09 | $-0.05 | ||
| Q2 25 | — | $-0.10 | ||
| Q1 25 | — | $-0.14 | ||
| Q4 24 | — | $0.07 | ||
| Q3 24 | — | $-0.34 | ||
| Q2 24 | — | $-0.47 | ||
| Q1 24 | — | $-0.33 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $38.6M | $24.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $40.8M | $32.0M |
| Total Assets | $42.6M | $35.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $38.6M | $24.4M | ||
| Q3 25 | $25.9M | $1.1M | ||
| Q2 25 | — | $3.2M | ||
| Q1 25 | — | $4.7M | ||
| Q4 24 | — | $4.4M | ||
| Q3 24 | — | $8.6M | ||
| Q2 24 | — | $234.0K | ||
| Q1 24 | — | $491.0K |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $642.0K | ||
| Q1 24 | — | $2.8M |
| Q4 25 | $40.8M | $32.0M | ||
| Q3 25 | $40.9M | $8.3M | ||
| Q2 25 | — | $9.8M | ||
| Q1 25 | — | $12.9M | ||
| Q4 24 | — | $12.3M | ||
| Q3 24 | — | $15.6M | ||
| Q2 24 | — | $1.6M | ||
| Q1 24 | — | $1.4M |
| Q4 25 | $42.6M | $35.5M | ||
| Q3 25 | $42.7M | $11.9M | ||
| Q2 25 | — | $14.6M | ||
| Q1 25 | — | $16.4M | ||
| Q4 24 | — | $15.5M | ||
| Q3 24 | — | $18.9M | ||
| Q2 24 | — | $16.4M | ||
| Q1 24 | — | $14.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.41× | ||
| Q1 24 | — | 2.04× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-251.0K | $-2.2M |
| Free Cash FlowOCF − Capex | $-282.0K | $-2.6M |
| FCF MarginFCF / Revenue | -22.2% | -187.3% |
| Capex IntensityCapex / Revenue | 2.4% | 26.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-9.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-251.0K | $-2.2M | ||
| Q3 25 | $-815.0K | $-1.8M | ||
| Q2 25 | — | $-804.0K | ||
| Q1 25 | — | $-3.2M | ||
| Q4 24 | — | $-3.1M | ||
| Q3 24 | — | $-12.7M | ||
| Q2 24 | — | $-303.0K | ||
| Q1 24 | — | $492.0K |
| Q4 25 | $-282.0K | $-2.6M | ||
| Q3 25 | $-1.0M | $-2.1M | ||
| Q2 25 | — | $-1.3M | ||
| Q1 25 | — | $-3.6M | ||
| Q4 24 | — | $-4.1M | ||
| Q3 24 | — | $-13.2M | ||
| Q2 24 | — | $-844.0K | ||
| Q1 24 | — | $-79.0K |
| Q4 25 | -22.2% | -187.3% | ||
| Q3 25 | -74.0% | -136.1% | ||
| Q2 25 | — | -91.5% | ||
| Q1 25 | — | -308.6% | ||
| Q4 24 | — | -294.6% | ||
| Q3 24 | — | -823.2% | ||
| Q2 24 | — | -39.7% | ||
| Q1 24 | — | -3.5% |
| Q4 25 | 2.4% | 26.2% | ||
| Q3 25 | 15.2% | 21.5% | ||
| Q2 25 | — | 34.8% | ||
| Q1 25 | — | 37.2% | ||
| Q4 24 | — | 76.2% | ||
| Q3 24 | — | 30.5% | ||
| Q2 24 | — | 25.5% | ||
| Q1 24 | — | 25.1% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
