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Astera Labs, Inc.

ALAB Technology Semiconductors

Astera Labs, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $852.5 million, up 115.1% from fiscal 2024.

Revenue
+104.5%
EPS
+187.1%
Free cash flow
−49.6%

Quarter to June 2026, against a year earlier

230.28 28.42 −10.99%
Market cap
$44.9B
P/E
106×
Fwd P/E
79.1×
Dividend yield
—
F-score
6/9
Altman Z
100.66
Beneish M
1.61
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Filings

Astera Labs, Inc. (ALAB) Earnings & Analysis

Updated · Covers results through Q2 FY2026 · How this is made

Latest quarter

Astera Labs reported Q2 FY2026 revenue of $392.4 million, above the consensus estimate of $360.2 million. Its adjusted earnings per share, as counted by the consensus, were $0.80, above the $0.69 estimate. The company reported diluted earnings per share of $0.83, compared with $0.29 a year earlier.

Revenue rose from $191.9 million a year earlier. The filing attributed the increase primarily to higher unit shipments driven by demand for Aries, Scorpio and Taurus products, as well as higher average selling prices from a greater mix of hardware modules and Scorpio products.

Astera’s gross margin fell to 73.3% from 75.8%. The filing attributed the decline primarily to a shift toward lower-margin hardware modules and the impact of warrants. Operating margin rose to 22.7% from 20.7%, while free cash flow fell to $67.2 million from $133.3 million.

Q2 FY2026 Q2 FY2025 Change
Revenue $392.4 million $191.9 million 104.5%
Diluted EPS $0.83 $0.29 186.2%
Gross margin 73.3% 75.8% −2.6 percentage points
Operating margin 22.7% 20.7% 2.0 percentage points
Free cash flow $67.2 million $133.3 million −49.6%
Against the consensus Reported Consensus Result
Adjusted EPS $0.80 $0.69 Beat by 15.9%
Revenue $392.4 million $360.2 million Beat by 8.93%

Adjusted EPS is the figure the consensus estimates, not the GAAP EPS above.

What management said on the call

In its filing, Astera Labs attributed higher quarterly research and development expense primarily to personnel costs, stock-based compensation and spending on initiatives including hardware design, software licensing and cloud hosting. For the six months ended June 30, 2026, the filing also attributed an unfavorable inventory-related cash-flow change partly to inventory buildup to support anticipated demand.

Guidance

Astera Labs said it expects Scorpio to become its largest product family in the quarter ended September 2026, one quarter earlier than it had previously expected.

Metric For Guide Previous guide Change
EPS, non-GAAP Q3 FY2026 $1.16–$1.21 — New
Tax rate, non-GAAP Q3 FY2026 12.0% — New
Operating expenses, non-GAAP Q3 FY2026 $156.0 million–$160.0 million — New
Gross margin, non-GAAP Q3 FY2026 72.0% — New
EPS, GAAP Q3 FY2026 $0.87–$0.92 — New
Tax rate, GAAP Q3 FY2026 4.00% — New
Operating expenses, GAAP Q3 FY2026 $232.0 million–$236.0 million — New
Gross margin, GAAP Q3 FY2026 72.0% — New
Revenue Q3 FY2026 $540.0 million–$560.0 million — New

This page is for information only. It is not investment advice, a recommendation or an offer to buy or sell any security. Figures come from the sources listed above and may contain errors; verify against the company's filings.