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Side-by-side financial comparison of Aeluma, Inc. (ALMU) and TMC the metals Co Inc. (TMC). Click either name above to swap in a different company.
TMC the metals Co Inc. is the larger business by last-quarter revenue ($1.3M vs $1.3M, roughly 1.0× Aeluma, Inc.). Aeluma, Inc. runs the higher net margin — -145.7% vs -3136.5%, a 2990.8% gap on every dollar of revenue. On growth, TMC the metals Co Inc. posted the faster year-over-year revenue change (2425.5% vs -21.1%). Aeluma, Inc. produced more free cash flow last quarter ($-282.0K vs $-11.5M).
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.
The Metals Company, formerly DeepGreen Metals, is a Canadian deep sea mining exploration company. The company focuses on the mining of polymetallic nodules in the Clarion Clipperton Zone of the Pacific.
ALMU vs TMC — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.3M | $1.3M |
| Net Profit | $-1.9M | $-40.4M |
| Gross Margin | 27.8% | — |
| Operating Margin | -163.6% | -3470.9% |
| Net Margin | -145.7% | -3136.5% |
| Revenue YoY | -21.1% | 2425.5% |
| Net Profit YoY | 36.0% | -151.5% |
| EPS (diluted) | $-0.11 | $0.11 |
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 | $1.3M | ||
| Q3 25 | $1.4M | $1.3M | ||
| Q4 23 | — | $205.0K | ||
| Q3 23 | — | $319.0K | ||
| Q1 23 | — | $454.0K | ||
| Q4 22 | — | $567.0K | ||
| Q3 22 | — | $352.0K | ||
| Q2 22 | — | $192.0K |
| Q4 25 | $-1.9M | $-40.4M | ||
| Q3 25 | $-1.5M | $-184.5M | ||
| Q4 23 | — | $-33.5M | ||
| Q3 23 | — | $-12.5M | ||
| Q1 23 | — | $-13.7M | ||
| Q4 22 | — | $-109.6M | ||
| Q3 22 | — | $-27.9M | ||
| Q2 22 | — | $-12.4M |
| Q4 25 | 27.8% | — | ||
| Q3 25 | 49.4% | — | ||
| Q4 23 | — | — | ||
| Q3 23 | — | — | ||
| Q1 23 | — | — | ||
| Q4 22 | — | — | ||
| Q3 22 | — | — | ||
| Q2 22 | — | — |
| Q4 25 | -163.6% | -3470.9% | ||
| Q3 25 | -116.1% | -4134.4% | ||
| Q4 23 | — | -16223.9% | ||
| Q3 23 | — | -3924.1% | ||
| Q1 23 | — | -2947.8% | ||
| Q4 22 | — | -19625.2% | ||
| Q3 22 | — | -8127.0% | ||
| Q2 22 | — | -9545.8% |
| Q4 25 | -145.7% | -3136.5% | ||
| Q3 25 | -107.8% | -13780.2% | ||
| Q4 23 | — | -16321.5% | ||
| Q3 23 | — | -3908.2% | ||
| Q1 23 | — | -3028.2% | ||
| Q4 22 | — | -19324.3% | ||
| Q3 22 | — | -7924.4% | ||
| Q2 22 | — | -6450.0% |
| Q4 25 | $-0.11 | $0.11 | ||
| Q3 25 | $-0.09 | $0.46 | ||
| Q4 23 | — | $0.12 | ||
| Q3 23 | — | $0.04 | ||
| Q1 23 | — | $0.05 | ||
| Q4 22 | — | $0.45 | ||
| Q3 22 | — | $0.12 | ||
| Q2 22 | — | $0.05 |
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 | $117.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $40.8M | $-33.4M |
| Total Assets | $42.6M | $181.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $38.6M | $117.6M | ||
| Q3 25 | $25.9M | $115.6M | ||
| Q4 23 | — | $6.8M | ||
| Q3 23 | — | $22.5M | ||
| Q1 23 | — | $28.4M | ||
| Q4 22 | — | $46.9M | ||
| Q3 22 | — | $66.9M | ||
| Q2 22 | — | — |
| Q4 25 | $40.8M | $-33.4M | ||
| Q3 25 | $40.9M | $-40.6M | ||
| Q4 23 | — | $10.9M | ||
| Q3 23 | — | $41.6M | ||
| Q1 23 | — | $41.8M | ||
| Q4 22 | — | $41.5M | ||
| Q3 22 | — | $79.1M | ||
| Q2 22 | — | $73.7M |
| Q4 25 | $42.6M | $181.6M | ||
| Q3 25 | $42.7M | $175.6M | ||
| Q4 23 | — | $68.9M | ||
| Q3 23 | — | $87.8M | ||
| Q1 23 | — | $85.5M | ||
| Q4 22 | — | $94.8M | ||
| Q3 22 | — | $117.2M | ||
| Q2 22 | — | — |
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 | $-11.4M |
| Free Cash FlowOCF − Capex | $-282.0K | $-11.5M |
| FCF MarginFCF / Revenue | -22.2% | -889.8% |
| Capex IntensityCapex / Revenue | 2.4% | 8.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-251.0K | $-11.4M | ||
| Q3 25 | $-815.0K | $-11.5M | ||
| Q4 23 | — | $-15.2M | ||
| Q3 23 | — | $-12.5M | ||
| Q1 23 | — | $-23.5M | ||
| Q4 22 | — | $-19.8M | ||
| Q3 22 | — | $-8.6M | ||
| Q2 22 | — | $-22.6M |
| Q4 25 | $-282.0K | $-11.5M | ||
| Q3 25 | $-1.0M | $-11.5M | ||
| Q4 23 | — | — | ||
| Q3 23 | — | $-12.6M | ||
| Q1 23 | — | — | ||
| Q4 22 | — | — | ||
| Q3 22 | — | — | ||
| Q2 22 | — | — |
| Q4 25 | -22.2% | -889.8% | ||
| Q3 25 | -74.0% | -859.4% | ||
| Q4 23 | — | — | ||
| Q3 23 | — | -3951.4% | ||
| Q1 23 | — | — | ||
| Q4 22 | — | — | ||
| Q3 22 | — | — | ||
| Q2 22 | — | — |
| Q4 25 | 2.4% | 8.2% | ||
| Q3 25 | 15.2% | 1.5% | ||
| Q4 23 | — | — | ||
| Q3 23 | — | 31.3% | ||
| Q1 23 | — | — | ||
| Q4 22 | — | — | ||
| Q3 22 | — | — | ||
| Q2 22 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
