Astera Labs Reports Record Q3 2026 Revenue of $584.9M, Up 154% YoY

Executive Summary

On November 3, 2026, Astera Labs, Inc. (NASDAQ: ALAB) filed a Form 8-K under Item 2.02 reporting financial results for its third quarter of fiscal year 2026, ended September 30, 2026. The company posted record quarterly results driven by high-volume deployment of its Scorpio™ fabric switch family in AI infrastructure.

Key Financial Highlights (Q3 FY2026)

• Revenue: $584.9 million, an increase of 49% sequentially and 154% year-over-year.
• Gross Margin: GAAP gross margin of 72.3%; Non-GAAP gross margin of 72.4%.
• Operating Income:
  • GAAP operating income was $179.1 million (30.6% operating margin).
  • Non-GAAP operating income was $261.6 million (44.7% operating margin).
• Net Income & EPS:
  • GAAP net income of $182.9 million, or $0.99 per diluted share.
  • Non-GAAP net income of $243.4 million, or $1.32 per diluted share.

Operational & Product Developments

• Scorpio™ Fabric Switches: Ramped into high-volume production, becoming Astera Labs' largest product family by revenue, led by the Scorpio X-Series 320-lane fabric switch.
• Aries 7: Announced the industry's first PCIe® 7 signal conditioning portfolio spanning Smart Retimers, Smart Redrivers, Smart Cable Modules, Smart Optical Drivers, and Smart Optical TIAs.
• Orion Architecture: Unveiled Orion, a compute-agnostic rack-scale reference architecture supporting multi-GPU and CPU configurations.
• Leo Expansion: Introduced Leo X-Series and Leo 2 E-Series/P-Series Smart Memory Controllers, expanding addressable applications into fabric-attached and pooled memory architectures.

Q4 FY2026 Outlook

• Revenue: Estimated between $730 million and $750 million.
• Gross Margin: Expected to be approximately 72% on both a GAAP and Non-GAAP basis.
• Diluted EPS:
  • GAAP diluted EPS expected between $1.13 and $1.17.
  • Non-GAAP diluted EPS expected between $1.62 and $1.66 on approximately 187 million diluted shares.