Astera Labs
What matters nowUpdated 6 h ago
- Astera Labs unveiled its Orion rack-scale architecture on October 12, 2026, with rack and system designs on track for OEM and ODM availability from Q1 2027, and announced the Aries 7 PCIe 7 family on October 8, 2026.
- ALAB traded at $313.67 on the pooled 24/7 venue price, down 1.71% from the $319.11 prior close. It rose 12.48% on September 21 and 6.93% on October 6, then fell 9.88% on October 8 and 7.54% on October 12.
- Q2 2026 revenue was $392.4 million, up 104% from a year earlier ·. Trailing twelve-month revenue is $1.20 billion (up 98.5%), with a 75.1% gross margin, 22.8% operating margin and 30.7% net margin as of June 30, 2026.
- Trailing EPS is $2.02, up 201.5% year on year. At a $54.4 billion market cap the stock trades on 155.3 times trailing earnings, 45.3 times sales and 190.7 times EV/EBITDA, with a free cash flow yield of 0.51%.
- Insiders sold 2.45 million shares worth $634.5 million in 30 sales over the last 180 days and bought none; 23 of those sales were planned.
- Next, the Q3 2026 results and conference call are on November 3, 2026 at 21:30 UTC, against company guidance of $540 million to $560 million revenue and non-GAAP diluted EPS of $1.16 to $1.21. Orion and Aries 7 demonstrations are listed for the OCP Global Summit on October 13, 2026.
- Polymarket odds put the Fed leaving rates unchanged after its October 2026 meeting at 81.5%, and a 25 basis point increase at 17.5%. The September CPI release is due October 14, 2026.
Astera Labs designs connectivity chips and software for AI and cloud data centers. Its Intelligent Connectivity Platform moves data between GPUs, CPUs, memory and networking gear, using the Aries, Taurus, Leo and Scorpio product families and the COSMOS software suite. Revenue was $852.5 million in 2025, and the company has been growing quickly since its March 2024 Nasdaq IPO. Its top three end customers accounted for about 86% of 2025 revenue.
How it makes money
Astera Labs sells semiconductors, cable modules and fleet-management software to hyperscalers, server OEMs and ODMs that build AI rack systems. Revenue follows AI accelerator and server build-outs, so the company is exposed to a small number of very large customers and to the timing of their platform launches. Gross margin was 73.3% (GAAP) in Q2 2026.
Last 12 monthsChart & venues →
Valuation & fundamentalsFull financials →
TTM through 2026-06-30 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price. Quarterly statements →
Biggest businessesAll products & projects →
Scorpio fabric switches
Scorpio X-Series 320-lane switch shipping to hyperscalers, with production ramp in the second half of 2026.
Next: Scorpio fabric switches become the largest product family · 2026-07-01
Aries PCIe and CXL signal conditioners
Aries posted record quarterly revenue in Q2 2026. Aries 7 PCIe 7 family was announced on October 8, 2026.
Next: Aries 7 sampling begins for select hyperscale, OEM and NPO customers · 2026-12-31
Taurus Ethernet smart cable modules
Taurus was expanded in July and August 2026 with 3.2T Smart Retimers and Smart Redrivers for 224G Ethernet and UALink.
COSMOS software suite
Software for telemetry, link management, fleet diagnostics and rack management, now used across the hardware line.
Latest newsAll news →
Astera Labs launches Aries 7, a PCIe 7 signal conditioning family for copper and optical links
Astera Labs announced the Aries 7 portfolio for PCIe 7, covering links from short PCB traces to optical runs of more than 50 meters across racks.
Astera Labs unveils Leo 2 CXL memory expanders with PCIe Gen6 and four DDR4 channels per card
Astera Labs launched the second generation of its Leo memory controllers, moving from PCIe Gen5 and CXL 2.x to PCIe Gen6 and CXL 3.2.
Astera Labs reports record Q2 2026 revenue of $392.4 million, up 104%, and guides Q3 to $540M-$560M
Second-quarter 2026 revenue was a record $392.4 million, up 27% from the first quarter and 104% from a year earlier.
Astera Labs launches Taurus 3.2T retimers and redrivers with a swappable footprint for 200G links
Astera Labs added the Taurus 3.2T family, 16-lane smart retimers and redrivers for 200G-per-lane Ethernet, UALink and ESUN links.
Astera Labs schedules Computex 2026 press conference and first public Scorpio X-Series demo
Astera Labs will hold a press conference, demo tour and audience question-and-answer session in Taipei on June 3, 2026, during Computex.
Products & businesses
Scorpio fabric switches
Scorpio X-Series 320-lane switch shipping to hyperscalers, with production ramp in the second half of 2026.
Next: Scorpio fabric switches become the largest product family · 2026-07-01
Aries PCIe and CXL signal conditioners
Aries posted record quarterly revenue in Q2 2026. Aries 7 PCIe 7 family was announced on October 8, 2026.
Next: Aries 7 sampling begins for select hyperscale, OEM and NPO customers · 2026-12-31
Taurus Ethernet smart cable modules
Taurus was expanded in July and August 2026 with 3.2T Smart Retimers and Smart Redrivers for 224G Ethernet and UALink.
COSMOS software suite
Software for telemetry, link management, fleet diagnostics and rack management, now used across the hardware line.
What it's building next
Leo CXL memory controllers
Enhanced Leo family is sampling with hyperscaler customers as of September 15, 2026. No general availability date is given.
Orion rack-scale architecture
Unveiled October 12, 2026. Rack and system designs are on track for OEM and ODM availability beginning in Q1 2027.
Next: Orion rack and system designs available through OEM and ODM partners · 2027-01-01
UALink scale-up connectivity
Taurus smart retimers and redrivers support UALink, and Orion's roadmap includes UALink.
Optical connectivity (NPO and LPO)
Aries 7 optical drivers and TIAs are being demonstrated at OCP 2026, with sampling expected in Q4 2026.
Next: PCIe 7 copper and optical demonstrations at OCP Global Summit 2026 · 2026-10-12
Segments
| Segment | Revenue | Share | |
|---|---|---|---|
| Connectivity products Smart retimers, redrivers, cable modules, fabric switches, CXL memory controllers and the COSMOS software suite. The company reports its business as one connectivity platform, and 2025 revenue was $852.5 million. It does not break out revenue by product family. | $852.5M | — |
Fiscal 2025 · from the annual report
Valuation & fundamentals
TTM through 2026-06-30 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price.
Financial statements
| Metric | TTM | Q2 FY2026 2026-06-30 | Q1 FY2026 2026-03-31 | Q4 FY2025 2025-12-31 | Q3 FY2025 2025-09-30 | Q2 FY2025 2025-06-30 | Q1 FY2025 2025-03-31 | Q4 FY2024 2024-12-31 | Q3 FY2024 2024-09-30 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.20B | $392.4M +104% | $308.4M +93% | $270.6Md +92% | $230.6M +104% | $191.9M +150% | $159.4M +144% | $141.1Md | $113.1M |
| Gross profit | $903.0M | $287.6M +98% | $235.1M +97% | $204.5Md +96% | $175.8M +100% | $145.6M +143% | $119.4M +136% | $104.4Md | $87.9M |
| Operating income | $273.4M | $89.2M +124% | $61.8M +448% | $67.0Md +46399% | $55.4M | $39.8M | $11.3M | $144.0Kd | −$8.9M |
| Net income | $369.5M | $153.1M +199% | $80.3M +152% | $45.0Md +82% | $91.1M | $51.2M | $31.8M | $24.7Md | −$7.6M |
| EPS (diluted) | $2.02 | $0.83 +186% | $0.44 +144% | $0.25d +0% | $0.50 | $0.29 | $0.18 | $0.25d | $-0.05 |
| Operating cash flow | $335.7M | $87.7Md -35% | $74.6M +610% | $95.3Md +140% | $78.2Md +23% | $135.4Md +354% | $10.5M +188% | $39.7Md | $63.5Md |
| Capital expenditure | $59.0M | $20.5Md +912% | $7.6M +67% | $18.7Md +21% | $12.3Md -26% | $2.0Md | $4.5M +33% | $15.4Md | $16.7Md |
| Share buybacks | — | — | — | — | — | — | — | — | — |
| Cash & equivalents | $111.5M | $111.5M | $148.3M | $167.6M | $140.4M | $162.3M | $86.4M | $79.6M | $126.1M |
| Shares outstanding | 173.5M | 173.5M | 171.3M | 170.2M | 168.9M | 166.2M | 164.9M | 162.0M | 158.6M |
| Metric | FY2025 2025-12-31 | FY2024 2024-12-31 |
|---|---|---|
| Revenue | $852.5M +115% | $396.3M |
| Cost of revenue | $207.3M +121% | $93.6M |
| Gross profit | $645.3M +113% | $302.7M |
| Research & development | $304.0M +51% | $200.8M |
| Operating income | $173.4M | −$116.1M |
| EBIT | $173.4M | −$116.1M |
| Depreciation & amortization | $6.8M +117% | $3.2M |
| Income tax | −$981.0K -160% | $1.6M |
| Net income | $219.1M | −$83.4M |
| EPS (diluted) | $1.22 | $-0.64 |
| Diluted shares (weighted) | 179.6M | 131.3M |
| Operating cash flow | $319.3M +134% | $136.7M |
| Capital expenditure | $37.5M +10% | $34.2M |
| Share buybacks | $0 -100% | $1.1M |
| Cash & equivalents | $167.6M | $79.6M |
| Total assets | $1.53B | $1.05B |
| Total liabilities | $168.2M | $89.7M |
| Shareholders' equity | $1.36B | $964.8M |
| Shares outstanding | 170.2M | 162.0M |
From XBRL data in SEC filings. Small figures under each value: change vs the same period a year earlier. d = derived (e.g. Q4 = full year − first nine months).
NewsFull archive →
Astera Labs launches Aries 7, a PCIe 7 signal conditioning family for copper and optical links
Astera Labs announced the Aries 7 portfolio for PCIe 7, covering links from short PCB traces to optical runs of more than 50 meters across racks.
Astera Labs unveils Leo 2 CXL memory expanders with PCIe Gen6 and four DDR4 channels per card
Astera Labs launched the second generation of its Leo memory controllers, moving from PCIe Gen5 and CXL 2.x to PCIe Gen6 and CXL 3.2.
Astera Labs reports record Q2 2026 revenue of $392.4 million, up 104%, and guides Q3 to $540M-$560M
Second-quarter 2026 revenue was a record $392.4 million, up 27% from the first quarter and 104% from a year earlier.
Astera Labs launches Taurus 3.2T retimers and redrivers with a swappable footprint for 200G links
Astera Labs added the Taurus 3.2T family, 16-lane smart retimers and redrivers for 200G-per-lane Ethernet, UALink and ESUN links.
Astera Labs schedules Computex 2026 press conference and first public Scorpio X-Series demo
Astera Labs will hold a press conference, demo tour and audience question-and-answer session in Taipei on June 3, 2026, during Computex.
Astera Labs posts record Q1 2026 revenue of $308.4 million, up 93%, and guides Q2 to $355M-$365M
First-quarter 2026 revenue was a record $308.4 million, up 93% from a year earlier and 14% from the fourth quarter, with a GAAP gross margin of 76.3%.
Astera Labs launches 320-lane Scorpio X-Series fabric switch for AI scale-up networks
Astera Labs introduced the Scorpio X-Series, a 320-lane smart fabric switch that it calls the largest open, memory-semantic fabric switch of its type.
Astera Labs reports record 2025 revenue of $852.5 million and guides Q1 2026 to $286M-$297M
Fourth-quarter 2025 revenue reached a record $270.6 million, up 92% from a year earlier, with a GAAP gross margin of 75.6%.
Astera Labs names Desmond Lynch chief financial officer, effective March 2, 2026
Astera Labs appointed Desmond Lynch as chief financial officer effective March 2, 2026, succeeding Michael Tate, who retired from the role and stays on as a strategic adviser to the CEO until September 1, 2026.
Astera Labs buys assets of a private data center acceleration company for $74.0 million
Astera Labs acquired certain assets of a privately held company that develops data center acceleration solutions, for a total consideration of $74.0 million, mostly paid in cash.
Astera Labs grants Amazon a warrant for up to 3.26 million shares tied to $6.5 billion of purchases
Astera Labs issued a warrant for up to 3,262,299 common shares to an affiliate of its customer Amazon, at $142.82 per share, expiring February 5, 2033.
Astera Labs reports fiscal Q3 2025 results: revenue $230.6M, up 104% from a year earlier
Astera Labs filed a Form 8-K with the SEC on Nov 4, 2025, 4:09 PM ET, reporting an event dated Nov 4, 2025.
SEC filings
| Oct 9, 26 | 4 | Form 4: BARRATT CRAIG H (Director) — award 68 sh | sec.gov ↗ |
| Oct 9, 26 | 4 | Form 4: HURLSTON MICHAEL E. (Director) — award 72 sh | sec.gov ↗ |
| Oct 9, 26 | 4 | Form 4: Dyckerhoff Stefan A (Director) — award 68 sh, open-market sale 12,499 sh | sec.gov ↗ |
| Oct 7, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 7, 26 | SCHEDULE 13G/A | SCHEDULE 13G/A: Passive ownership report (5%+) (amended) | sec.gov ↗ |
| Sep 3, 26 | 4 | Form 4: Dyckerhoff Stefan A (Director) — open-market sale 12,499 sh | sec.gov ↗ |
| Sep 3, 26 | 4 | Form 4: ALBA MANUEL (Director) — open-market sale 183,000 sh | sec.gov ↗ |
| Sep 2, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 1, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 1, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 1, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Aug 19, 26 | 4 | Form 4: Gajendra Sanjay (President and COO, Director) — open-market sale 90,630 sh | sec.gov ↗ |
| Aug 19, 26 | 4 | Form 4: Mazzara Philip (General Counsel and Secretary) — open-market sale 6,801 sh | sec.gov ↗ |
| Aug 19, 26 | 4 | Form 4: Mohan Jitendra (Chief Executive Officer, Director) — open-market sale 90,630 sh | sec.gov ↗ |
| Aug 10, 26 | 4 | Form 4: Dyckerhoff Stefan A (Director) — open-market sale 12,499 sh | sec.gov ↗ |
| Aug 6, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Aug 4, 26 | 10-Q | 10-Q: Quarterly report for the period ended Jun 30, 2026 | sec.gov ↗ |
| Aug 4, 26 | 8-K | 8-K: Results of Operations (Item 2.02) | sec.gov ↗ |
| Jul 27, 26 | SCHEDULE 13G/A | SCHEDULE 13G/A: Passive ownership report (5%+) (amended) | sec.gov ↗ |
| Jul 22, 26 | 4 | Form 4: Cota Germaine (Chief Accting. Off. & VP, Fin.) — award 1,451 sh | sec.gov ↗ |
| Jul 6, 26 | 4 | Form 4: ALBA MANUEL (Director) — open-market sale 8,491 sh | sec.gov ↗ |
| Jul 6, 26 | 4 | Form 4: ALBA MANUEL (Director) — open-market sale 37,535 sh | sec.gov ↗ |
| Jul 6, 26 | 4 | Form 4: ALBA MANUEL (Director) — open-market sale 136,974 sh | sec.gov ↗ |
| Jul 2, 26 | 4 | Form 4: Dyckerhoff Stefan A (Director) — open-market sale 12,499 sh | sec.gov ↗ |
| Jul 1, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
Insider trades, 12 months
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-07 | Dyckerhoff Stefan A Director | Sale 10b5-1 plan | 12.5K | $376.06 | $4.7M |
| 2026-09-02 | Dyckerhoff Stefan A Director | Sale 10b5-1 plan | 12.5K | $274.96 | $3.4M |
| 2026-09-01 | ALBA MANUEL Director | Sale 10b5-1 plan | 183.0K | $280.13 | $51.3M |
| 2026-08-17 | Mohan Jitendra Chief Executive Officer, Director | Sale | 90.6K | $340.35 | $30.8M |
| 2026-08-17 | Mazzara Philip General Counsel and Secretary | Sale | 6.8K | $340.50 | $2.3M |
| 2026-08-17 | Gajendra Sanjay President and COO, Director | Sale | 90.6K | $340.35 | $30.8M |
| 2026-08-06 | Dyckerhoff Stefan A Director | Sale 10b5-1 plan | 12.5K | $311.83 | $3.9M |
| 2026-07-01 | Dyckerhoff Stefan A Director | Sale 10b5-1 plan | 12.5K | $450.00 | $5.6M |
| 2026-07-01 | ALBA MANUEL Director | Sale 10b5-1 plan | 137.0K | $442.01 | $60.5M |
| 2026-07-01 | ALBA MANUEL Director | Sale 10b5-1 plan | 37.5K | $447.39 | $16.8M |
| 2026-07-01 | ALBA MANUEL Director | Sale 10b5-1 plan | 8.5K | $458.38 | $3.9M |
| 2026-06-24 | Mayer Bethany Director | Sale 10b5-1 plan | 686 | $395.04 | $271.0K |
| 2026-06-04 | LAZAR JACK R Director | Sale 10b5-1 plan | 10.0K | $355.17 | $3.6M |
| 2026-06-03 | Dyckerhoff Stefan A Director | Sale 10b5-1 plan | 12.5K | $364.35 | $4.6M |
| 2026-05-21 | Mazzara Philip General Counsel and Secretary | Sale | 796 | $291.03 | $231.7K |
| 2026-05-21 | Gajendra Sanjay President and COO, Director | Sale 10b5-1 plan | 400.0K | $290.30 | $116.1M |
| 2026-05-19 | Mohan Jitendra Chief Executive Officer, Director | Sale 10b5-1 plan | 28.7K | $249.62 | $7.2M |
| 2026-05-19 | Gajendra Sanjay President and COO, Director | Sale 10b5-1 plan | 280.0K | $249.19 | $69.8M |
| 2026-05-18 | Mohan Jitendra Chief Executive Officer, Director | Sale 10b5-1 plan | 111.2K | $216.89 | $24.1M |
| 2026-05-18 | Mazzara Philip General Counsel and Secretary | Sale | 14.1K | $231.78 | $3.3M |
| 2026-05-18 | Gajendra Sanjay President and COO, Director | Sale | 95.4K | $225.02 | $21.5M |
| 2026-05-18 | Mohan Jitendra Chief Executive Officer, Director | Sale | 95.4K | $225.02 | $21.5M |
| 2026-05-07 | Dyckerhoff Stefan A Director | Sale 10b5-1 plan | 12.5K | $200.03 | $2.5M |
| 2026-05-07 | Mohan Jitendra Chief Executive Officer, Director | Sale 10b5-1 plan | 140.0K | $200.16 | $28.0M |
| 2026-05-07 | Gajendra Sanjay President and COO, Director | Sale 10b5-1 plan | 230.6K | $198.22 | $45.7M |