$ALAB · Astera Labs, Inc.
Astera Labs filed its 10-Q for the quarter ended September 30, 2026. Revenue rose 154% YoY to $584.9M, gross profit reached $422.8M, and net income was $182.9M (diluted EPS $0.99). Gross margin declined 390 bps to 72.3% on product-mix shift toward hardware modules and Scorpio products.
- Revenue +154% YoY to $584.9M, driven by Scorpio, Aries, and Taurus unit shipments.
- Net income $182.9M, up 101% YoY; diluted EPS $0.99 vs $0.50.
- Gross margin fell 390 bps to 72.3% on hardware-module and Scorpio mix.
- Nine-month revenue $1.29B, up 121% YoY; net income $416.3M.
- Cash and marketable securities totaled $1.38B as of September 30, 2026.
Extended-hours last trade $240.53, up 2.96% vs the $233.62 regular close, signaling a positive after-hours reaction to the strong results.
Astera Labs delivered explosive 154% revenue growth and doubled net income, confirming strong AI-connectivity demand despite margin mix pressure.
Astera's triple-digit growth reflects surging AI/cloud connectivity demand, outpacing many semiconductor peers on revenue expansion.
Customer concentration risk with a limited number of end customers driving revenue, plus exposure to China export controls and tariffs.