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Side-by-side financial comparison of Aeluma, Inc. (ALMU) and XMax Inc. (XWIN). Click either name above to swap in a different company.
XMax Inc. is the larger business by last-quarter revenue ($1.8M vs $1.3M, roughly 1.4× Aeluma, Inc.). On growth, XMax Inc. posted the faster year-over-year revenue change (-11.8% vs -21.1%).
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.
XMax Inc. is a global tech firm focused on Web3 gaming infrastructure and interactive entertainment solutions. It builds custom game development toolkits, decentralized asset systems and cross-platform gaming products for developers and consumers in North America, APAC and Europe.
ALMU vs XWIN — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.3M | $1.8M |
| Net Profit | $-1.9M | — |
| Gross Margin | 27.8% | 40.3% |
| Operating Margin | -163.6% | -59.3% |
| Net Margin | -145.7% | — |
| Revenue YoY | -21.1% | -11.8% |
| Net Profit YoY | 36.0% | — |
| EPS (diluted) | $-0.11 | $-0.06 |
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 | $1.8M | ||
| Q3 25 | $1.4M | $9.8M | ||
| Q2 25 | — | $2.6M | ||
| Q1 25 | — | $2.6M | ||
| Q4 24 | — | $2.0M | ||
| Q3 24 | — | $2.6M | ||
| Q2 24 | — | $2.7M | ||
| Q1 24 | — | $2.4M |
| Q4 25 | $-1.9M | — | ||
| Q3 25 | $-1.5M | $-1.1M | ||
| Q2 25 | — | $-289.9K | ||
| Q1 25 | — | $-338.9K | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-2.5M | ||
| Q2 24 | — | $-563.5K | ||
| Q1 24 | — | $-1.5M |
| Q4 25 | 27.8% | 40.3% | ||
| Q3 25 | 49.4% | 10.1% | ||
| Q2 25 | — | 50.2% | ||
| Q1 25 | — | 45.7% | ||
| Q4 24 | — | 42.8% | ||
| Q3 24 | — | 45.1% | ||
| Q2 24 | — | 44.4% | ||
| Q1 24 | — | 42.8% |
| Q4 25 | -163.6% | -59.3% | ||
| Q3 25 | -116.1% | -5.0% | ||
| Q2 25 | — | -7.7% | ||
| Q1 25 | — | -7.3% | ||
| Q4 24 | — | -48.4% | ||
| Q3 24 | — | -92.0% | ||
| Q2 24 | — | -18.5% | ||
| Q1 24 | — | -62.6% |
| Q4 25 | -145.7% | — | ||
| Q3 25 | -107.8% | -11.5% | ||
| Q2 25 | — | -11.3% | ||
| Q1 25 | — | -12.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -94.3% | ||
| Q2 24 | — | -21.0% | ||
| Q1 24 | — | -61.6% |
| Q4 25 | $-0.11 | $-0.06 | ||
| Q3 25 | $-0.09 | $-0.06 | ||
| Q2 25 | — | $-0.02 | ||
| Q1 25 | — | $-0.03 | ||
| Q4 24 | — | $0.11 | ||
| Q3 24 | — | $-0.72 | ||
| Q2 24 | — | $-0.22 | ||
| Q1 24 | — | $-0.65 |
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 | $6.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $40.8M | $28.0M |
| Total Assets | $42.6M | $35.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $38.6M | $6.7M | ||
| Q3 25 | $25.9M | $1.7M | ||
| Q2 25 | — | $468.8K | ||
| Q1 25 | — | $147.3K | ||
| Q4 24 | — | $161.9K | ||
| Q3 24 | — | $162.3K | ||
| Q2 24 | — | $363.4K | ||
| Q1 24 | — | $273.1K |
| Q4 25 | $40.8M | $28.0M | ||
| Q3 25 | $40.9M | $13.6M | ||
| Q2 25 | — | $6.5M | ||
| Q1 25 | — | $6.8M | ||
| Q4 24 | — | $3.1M | ||
| Q3 24 | — | $-895.9K | ||
| Q2 24 | — | $48.2K | ||
| Q1 24 | — | $-42.7K |
| Q4 25 | $42.6M | $35.5M | ||
| Q3 25 | $42.7M | $18.3M | ||
| Q2 25 | — | $11.6M | ||
| Q1 25 | — | $11.9M | ||
| Q4 24 | — | $9.9M | ||
| Q3 24 | — | $5.1M | ||
| Q2 24 | — | $5.8M | ||
| Q1 24 | — | $6.2M |
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 | $1.7M |
| Free Cash FlowOCF − Capex | $-282.0K | — |
| FCF MarginFCF / Revenue | -22.2% | — |
| Capex IntensityCapex / Revenue | 2.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-251.0K | $1.7M | ||
| Q3 25 | $-815.0K | $-1.9M | ||
| Q2 25 | — | $92.5K | ||
| Q1 25 | — | $-322.6K | ||
| Q4 24 | — | $-263.4K | ||
| Q3 24 | — | $-437.9K | ||
| Q2 24 | — | $-468.7K | ||
| Q1 24 | — | $-221.7K |
| Q4 25 | $-282.0K | — | ||
| Q3 25 | $-1.0M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -22.2% | — | ||
| Q3 25 | -74.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 2.4% | — | ||
| Q3 25 | 15.2% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALMU
Segment breakdown not available.
XWIN
| North America | $1.7M | 97% |
| Other | $50.4K | 3% |
