Astera Labs, Inc. designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure.
Profile & Fundamentals
Astera Labs: Company identity, ownership, reported financial performance, balance sheets, and corporate actions.
Profile & Fundamentals
Astera Labs Profile & Fundamentals
Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.
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Company and Market Context
Company Profile & Ownership
Astera Labs, Inc. designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure in Taiwan and the United States. It offers an intelligent connectivity platform, comprised of semiconductor-based, high-speed, mixed-signal connectivity products that integrate a matrix of microcontrollers and sensors, and COSMOS. The company provides COSMOS software suite, a connectivity system management and optimization software that enables management and optimization of resources for large fleets at cloud-scale via link, fleet, and RAS management capabilities. In addition, it offers PCIe/CXL smart DSP retimers and cable modules; ethernet smart cable modules for cloud and AI infrastructure; CXL memory connectivity controllers; and smart fabric switches. The company serves hyperscalers and system original equipment manufacturers. Astera Labs, Inc. was incorporated in 2017 and is based in San Jose, California.
Company profile record
Astera Labs, Inc.
Common Stock · Information Technology · Semiconductors
Company
- Company / asset
- Astera Labs, Inc.
- Security type
- Common Stock
- Sector
- Information Technology
- Industry
- Semiconductors
- HQ
- 🇺🇸 United States
- Head office
- 2345 North First Street, San Jose, CA, United States, 95131
Leadership & scale
- Chief executive
- Mr. Jitendra Mohan
- CEO year born
- 1974
- Full-time employees
- 756
- Fiscal year end
- December
- IPO date
- 2024-03-20
Fundamentals snapshot
- Market Cap
- USD 71.0B
- P/E
- 192.3x
- Revenue (Q2 26)
- USD 392.4M
- Profit (Q2 26)
- USD 153.1M
- Dividend Yield
- --
- Revenue (FY 25)
- USD 852.5M
- Shares in public float
- 156M
- Insider ownership
- 10.32%
Reporting & identifiers
- Symbol
- ALAB.NASDAQ
- Listing
- 🇺🇸 United States | Dividend Tax: 30%
- Ticker Currency
- USD
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- US04626A1034
- Asset ID
- equity_541d1e40-311d-537c-99cb-3ba773bef294
Ownership
Shares Outstanding
Latest: 182.3M | Max: 182.3M | Min: 34.2M
Latest reported ownership snapshot
As of Oct 1, 2026Float Shares
85.59%
156.0M latest reported shares
Insider Ownership
10.32%
Latest reported insider stake
Short Float
0.07%
Latest reported short interest / float
Top Holders
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
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| Reporting date | Shares outstanding |
|---|---|
| 2022-01-01 | 34,171,000 |
| 2023-01-01 | 152,503,000 |
| 2024-01-01 | 177,559,000 |
| 2025-01-01 | 181,181,000 |
| 2026-01-01 | 182,254,000 |
Top Holders
Available reported ownership records.
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| Holder | Shares | Ownership | Reported date |
|---|---|---|---|
| FMR Inc | 25,529,885 | 14.72% | 2026-03-31 |
| BlackRock Inc | 11,449,769 | 6.6% | 2026-03-31 |
| Fidelity Select Semiconductors | 7,846,949 | 4.52% | 2026-07-31 |
| Vanguard Portfolio Management, LLC | 7,309,778 | 4.21% | 2026-03-31 |
| Vanguard Capital Management, LLC | 6,340,732 | 3.65% | 2026-03-31 |
| Vanguard MStar Total Stk Mkt Idx Invest | 4,902,807 | 2.83% | 2026-08-31 |
| Invesco QQQ Trust | 3,687,383 | 2.13% | 2026-08-31 |
| State Street Corp | 3,333,606 | 1.92% | 2026-03-31 |
| iShares Semiconductor ETF | 3,272,522 | 1.89% | 2026-08-31 |
| Fred Alger Management, LLC | 2,573,005 | 1.48% | 2026-03-31 |
| AllianceBernstein L.P. | 2,512,695 | 1.45% | 2026-03-31 |
| Geode Capital Management, LLC | 2,508,264 | 1.45% | 2026-03-31 |
| VanEck Semiconductor ETF | 2,116,080 | 1.22% | 2026-08-29 |
| Amundi | 1,880,830 | 1.08% | 2026-03-31 |
| Fidelity Blue Chip Growth | 1,871,470 | 1.08% | 2026-07-31 |
Earnings, Profitability & Valuation
Earnings, Profitability & Valuation
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
Astera Labs has achieved an extraordinary top-line turnaround, with annual revenue expanding 115% in fiscal 2025 to $853 million and accelerating to $392 million in the second quarter of 2026. This hyper-growth turned an operating loss of $116 million in 2024 into over $270 million in trailing operating income. Skyrocketing demand for Aries retimers and initial shipments of Scorpio switches confirm that the business has become an indispensable connectivity partner for advanced artificial intelligence clusters. However, the quality of these headline profits reveals important underlying tensions. Trailing free cash flow of $277 million trails accounting net income, as rapid growth absorbs significant cash into inventory and accounts receivable ahead of customer deliveries. Furthermore, heavy reliance on a single lead customer and non-cash stock compensation means per-share economic gains lag top-line headlines.
Astera Labs has achieved an extraordinary top-line turnaround, with annual revenue expanding 115% in fiscal 2025 to $853 million and accelerating to $392 million in the second quarter of 2026. This hyper-growth turned an operating loss of $116 million in 2024 into over $270 million in trailing operating income. Skyrocketing demand for Aries retimers and initial shipments of Scorpio switches confirm that the business has become an indispensable connectivity partner for advanced artificial intelligence clusters. However, the quality of these headline profits reveals important underlying tensions. Trailing free cash flow of $277 million trails accounting net income, as rapid growth absorbs significant cash into inventory and accounts receivable ahead of customer deliveries. Furthermore, heavy reliance on a single lead customer and non-cash stock compensation means per-share economic gains lag top-line headlines.
Revenue, Net Income, and Free Cash Flow
Latest: USD 852.5M | Max: USD 852.5M | Min: USD -83.4M
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: >100x
Profitability & Margins
Margins and Operating Efficiency
AI Review
The company commands elite pricing power, generating gross margins of 75.7% in fiscal 2025 and holding above 73% in the second quarter of 2026. Because Astera solved complex signal degradation physics before competitors, customers paid top dollar to prevent multi-million-dollar server clusters from idling. Operating margins expanded rapidly from negative territory into positive 20.3% as sales doubled against relatively fixed corporate overhead. Nevertheless, maintaining mid-70% gross margins indefinitely is nearly impossible in merchant hardware. As product mix shifts toward complete cable modules and fabric switches, pass-through hardware costs naturally pull gross margins toward 70%. Furthermore, as established rivals Broadcom and Marvell introduce competing silicon, cloud customers will inevitably negotiate volume discounts, gradually compressing long-term profit margins toward industry averages.
The company commands elite pricing power, generating gross margins of 75.7% in fiscal 2025 and holding above 73% in the second quarter of 2026. Because Astera solved complex signal degradation physics before competitors, customers paid top dollar to prevent multi-million-dollar server clusters from idling. Operating margins expanded rapidly from negative territory into positive 20.3% as sales doubled against relatively fixed corporate overhead. Nevertheless, maintaining mid-70% gross margins indefinitely is nearly impossible in merchant hardware. As product mix shifts toward complete cable modules and fabric switches, pass-through hardware costs naturally pull gross margins toward 70%. Furthermore, as established rivals Broadcom and Marvell introduce competing silicon, cloud customers will inevitably negotiate volume discounts, gradually compressing long-term profit margins toward industry averages.
Profitability Margins
Latest: 75.7% | Max: 76.4% | Min: -75.4%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
75.7%
Gross profit / revenue
Operating Margin
20.3%
Operating income / revenue
Net Margin
25.7%
Net income / revenue
FCF Margin
33.1%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
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| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2022-12-31 | 79,872,000 | -58,345,000 | -39,771,000 |
| 2023-12-31 | 115,794,000 | -26,257,000 | -15,477,000 |
| 2024-12-31 | 396,290,000 | -83,421,000 | 102,431,000 |
| 2025-12-31 | 852,525,000 | 219,134,000 | 281,762,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
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| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 137.55 | Trailing four quarters |
Profitability Margins
Matching annual reporting dates. Values are percentages.
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| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2022-12-31 | 73.47 | -75.36 | -73.05 | -49.79 |
| 2023-12-31 | 68.94 | -25.47 | -22.68 | -13.37 |
| 2024-12-31 | 76.38 | -29.29 | -21.05 | 25.85 |
| 2025-12-31 | 75.69 | 20.34 | 25.7 | 33.05 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Source: eodhd. Snapshot retrieved 2026-09-29.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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