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ALAB

Astera Labs, Inc. Common Stock

ALAB

Astera Labs, Inc. Common Stock • NASDAQ
$158.15 ▲ 2.55% (+3.93)
Market Cap $26.71 B
52w High $262.90
52w Low $47.13
Dividend Yield 0%
P/E 129.63
Volume 2.42M
Outstanding Shares 168.90M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $230.575M ▲ $120.406M ▲ $91.114M ▲ 39.516% ▲ $0 ▼ $116.866M ▲
Q2-2025 $191.925M ▲ $105.789M ▼ $51.219M ▲ 26.687% ▲ $0.31 ▲ $41.166M ▲
Q1-2025 $159.442M ▲ $108.126M ▲ $31.819M ▲ 19.956% ▲ $0.19 ▲ $12.41M ▲
Q4-2024 $141.096M ▲ $104.304M ▲ $24.713M ▲ 17.515% ▲ $0.15 ▲ $1.118M ▲
Q3-2024 $113.086M $96.773M $-7.593M -6.714% $-0.048 $-8.047M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.134B ▲ $1.401B ▲ $129.451M ▼ $1.272B ▲
Q2-2025 $1.065B ▲ $1.271B ▲ $135.691M ▲ $1.136B ▲
Q1-2025 $924.726M ▲ $1.122B ▲ $80.132M ▼ $1.042B ▲
Q4-2024 $914.301M ▲ $1.055B ▲ $89.709M ▼ $964.799M ▲
Q3-2024 $886.801M $983.065M $93.453M $889.612M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $91.114M ▲ $78.171M ▼ $-101.045M ▼ $952K ▼ $-21.922M ▼ $65.878M ▼
Q2-2025 $51.219M ▲ $135.366M ▲ $-63.693M ▼ $4.737M ▲ $76.41M ▲ $133.343M ▲
Q1-2025 $31.819M ▲ $10.504M ▼ $-3.94M ▲ $386K ▼ $6.95M ▲ $5.965M ▼
Q4-2024 $24.713M ▲ $39.703M ▼ $-91.427M ▲ $5.651M ▲ $-46.073M ▲ $24.255M ▼
Q3-2024 $-7.593M $63.508M $-359.419M $952K $-294.959M $46.811M

Revenue by Products

Product Q1-2025Q2-2025Q3-2025
Reportable Segment
Reportable Segment
 $160.00M ▲$190.00M ▲$230.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Astera Labs is still in an early, scaling phase: revenue has been climbing quickly from a small base, and gross profits are healthy relative to sales, which shows the core products can carry attractive economics. At the same time, the company is consistently losing money at the operating and net income level as it spends heavily on growth, engineering, and go‑to‑market. The encouraging sign is that losses have been narrowing while revenue and per‑share results have been improving each year, suggesting better operating leverage as the business grows, but profitability is not yet achieved and remains a key milestone that lies ahead.

Balance Sheet

Balance Sheet The balance sheet looks relatively clean and conservative for a young semiconductor company. Total assets and equity have stepped up meaningfully in the most recent year, reflecting capital raised and business scaling. The company carries no financial debt, which reduces balance‑sheet risk and interest burden, and still holds a meaningful cash cushion, though not a massive one by sector standards. Overall, Astera appears reasonably well‑capitalized for its current stage, but continued growth and high R&D intensity will likely keep balance‑sheet management important over time.

Cash Flow

Cash Flow Cash flow has recently turned a corner: where the business previously consumed cash in operations, it has now begun to generate positive operating and free cash flow, even after starting to invest in capital spending. This shift suggests improving working‑capital management and better cost discipline as revenue ramps. That said, the track record is still very short and based on a relatively small scale of operations, so it is too early to call this a stable pattern. Future cash needs will hinge on how aggressively the company invests to capture AI‑driven demand.

Competitive Edge

Competitive Edge Astera Labs occupies a focused niche at the heart of AI and cloud data‑center infrastructure: high‑speed, intelligent connectivity between CPUs, GPUs, memory, and storage. Its specialization in PCIe, CXL, Ethernet, and related interconnect technologies—combined with close collaboration with major cloud and AI platform providers—gives it a differentiated position versus more generalized semiconductor players. First‑mover advantages in next‑generation standards and a platform approach that spans multiple connection types strengthen its standing. However, it competes in a space where large incumbents, rapid technology shifts, customer concentration, and evolving standards all pose meaningful competitive and execution risks.

Innovation and R&D

Innovation and R&D Innovation is clearly the core of Astera’s strategy. The company has built a portfolio of purpose‑built products—retimers, CXL memory connectivity, smart cable modules, fabric switches, and SmartNICs—tied together by a software layer that optimizes and manages the entire connectivity fabric. This hardware‑plus‑software approach is a notable differentiator and aligns well with the complex needs of AI data centers. The roadmap is ambitious, involving new open standards like UALink, deeper integration with leading GPU ecosystems, and broader product families for AI clustering. The flip side is that success depends on sustained high R&D spending, timely product execution, and broad industry adoption of these emerging standards, all of which introduce uncertainty.

Summary

Astera Labs is an early‑stage, high‑growth semiconductor company positioned at a critical chokepoint of the AI era: moving data quickly and intelligently inside and across servers. Financially, it combines fast‑rising revenue and solid gross margins with ongoing, though shrinking, losses as it invests for scale. The balance sheet is debt‑free and strengthened by recent capital, and cash flows have recently turned positive, albeit from a small base. Strategically, the company benefits from a sharp focus on AI and cloud connectivity, strong innovation, and close ties to major hyperscalers, but it operates amid powerful competitors and fast‑moving technical standards. Overall, it looks like a focused, innovation‑driven player with meaningful upside potential and correspondingly high execution and technological risk typical of a newly public, rapidly scaling semiconductor business.

NEWS

November 18, 2025 · 4:30 PM UTC

Astera Labs' Leo CXL Smart Memory Controllers on Microsoft Azure M-series Virtual Machines Overcome the Memory Wall

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November 13, 2025 · 4:05 PM UTC

Astera Labs Announces Fourth Quarter 2025 Financial Conference Participation

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November 4, 2025 · 4:05 PM UTC

Astera Labs Announces Financial Results for the Third Quarter of Fiscal Year 2025

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October 22, 2025 · 4:04 PM UTC

Astera Labs to Acquire aiXscale Photonics

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October 14, 2025 · 12:30 PM UTC

Astera Labs Joins Arm Total Design to Accelerate Custom AI Infrastructure Solutions

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