Astera Labs, Inc.

ALAB

$258.70

-10.93%

Astera Labs, Inc.

Astera Labs, Inc. is a Semiconductors company listed on NASDAQ NMS - GLOBAL MARKET.

Industry

Semiconductors

Exchange

NASDAQ NMS - GLOBAL MARKET

Market Cap

$44.9B

P/E Ratio

—

Cash on Hand

Not available

Shares Outstanding

173.5M shares

Currency

USD

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About

Astera Labs, Inc., headquartered in San Jose, California, is a fabless manufacturing company that develops connectivity technologies and related software that are used in data centers serving the artificial intelligence and cloud-computing markets. Its products include the Aries PCIe/Compute Express Link (CXL) smart DSP retimers, which extend the physical reach and improve signal integrity for PCI Express connections in large server clusters; Scorpio smart fabric switches, which provide high-bandwidth GPU-to-GPU interconnects and manage traffic inside AI racks; Taurus ethernet smart cable modules, which advance high-speed ethernet networking infrastructure over copper links; and Leo CXL memory controllers, which facilitate high-speed memory expansion and memory pooling for memory-heavy workloads.

via Wikipedia →

Earnings (EPS)

QuarterEPS EstimateEPS Actual

Q2 2026$0.71$0.80

Q1 2026$0.55$0.61

Q4 2025$0.52$0.58

Q3 2025$0.40$0.49

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Company Intelligence

Annual figures from the company's own SEC filings. Tap any number to open the filing it came from.

Revenue

Growth = this year ÷ prior year − 1

Dec 2025: $853M+115.1%
Dec 2024: $396M+242.2%
Dec 2023: $116M+45.0%
Dec 2022: $80M

Operating income

Margin = operating income ÷ revenue

Dec 2025: $173M20.3% margin
Dec 2024: -$116M-29.3% margin
Dec 2023: -$29M-25.5% margin
Dec 2022: -$60M-75.4% margin

Net income

Margin = net income ÷ revenue

Dec 2025: $219M25.7% margin
Dec 2024: -$83M-21.1% margin
Dec 2023: -$26M-22.7% margin
Dec 2022: -$58M-73.0% margin

Operating cash flow

Cash the business generated, vs net income above

Dec 2025: $319M
Dec 2024: $137M
Dec 2023: -$13M
Dec 2022: -$36M

Cash vs long-term debt

Cash − long-term debt. Excludes short-term borrowings and leases

Dec 2025: —
Dec 2024: —
Dec 2023: —
Dec 2022: —

Shares (weighted avg.)

Change = this year ÷ prior year − 1

Dec 2025: 166M+26.8%
Dec 2024: 131M+253.5%
Dec 2023: 37M+8.7%
Dec 2022: 34M

Fiscal year ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022
RevenueGrowth = this year ÷ prior year − 1	$853M+115.1%	$396M+242.2%	$116M+45.0%	$80M
Operating incomeMargin = operating income ÷ revenue	$173M20.3% margin	-$116M-29.3% margin	-$29M-25.5% margin	-$60M-75.4% margin
Net incomeMargin = net income ÷ revenue	$219M25.7% margin	-$83M-21.1% margin	-$26M-22.7% margin	-$58M-73.0% margin
Operating cash flowCash the business generated, vs net income above	$319M	$137M	-$13M	-$36M
Cash vs long-term debtCash − long-term debt. Excludes short-term borrowings and leases	—	—	—	—
Shares (weighted avg.)Change = this year ÷ prior year − 1	166M+26.8%	131M+253.5%	37M+8.7%	34M

What the numbers show

Revenue rose in each of the last 3 fiscal years shown.
Operating margin was -75.4% in Dec 2022 and 20.3% in Dec 2025.
Weighted average shares increased 387.0% between Dec 2022 and Dec 2025.

Worth a closer look

Automatic checks on the figures above. A flag is a pattern to investigate, not a finding of wrongdoing, and each one lists ordinary explanations for it.

Share count rising

Weighted average shares rose 387.0% between Dec 2022 and Dec 2025 (26.8% in the latest year).

Shares (weighted avg.)	Dec 2025	166M
Shares (weighted avg.)	Dec 2024	131M
Shares (weighted avg.)	Dec 2022	34M

How it's calculated: Share growth = weighted average shares ÷ earlier-year weighted average shares − 1.

Rule: Weighted average shares up 5% or more in a year, or 10% or more over three years.

Why it matters, and ordinary explanations

Why it can matter: When a company issues new shares, each existing share becomes a smaller slice of the profits, so earnings per share can lag total earnings.

Common innocent explanations: Shares issued to pay for an acquisition or to fund growth, or employee share awards that vest over time.

See every flagged company in Market Watch →

Rules checked

Revenue up, operating cash flow down — not triggered. Revenue up 5% or more in the latest year while operating cash flow fell 10% or more.
Profit not matched by cash — not triggered. Net income positive, but operating cash flow below 70% of net income in each of the last two fiscal years.
Receivables growing faster than revenue — not run. Not enough comparable annual figures reported to run this check.
Share count rising — flagged. Weighted average shares up 5% or more in a year, or 10% or more over three years.
Operating margin shrinking — not triggered. Operating margin lower in each of the last two years, down 3 percentage points or more in total.

Source: SEC EDGAR annual reports (Form 10-K), latest filed 2026-02-20. If a company later restates a year, the most recent filing is used. Dashes mean the company did not report that line in a form we could read. For information only, not investment advice.

Company Intelligence

Annual figures from the company's own SEC filings. Tap any number to open the filing it came from.

Revenue

Growth = this year ÷ prior year − 1

Dec 2025: $853M+115.1%
Dec 2024: $396M+242.2%
Dec 2023: $116M+45.0%
Dec 2022: $80M

Operating income

Margin = operating income ÷ revenue

Dec 2025: $173M20.3% margin
Dec 2024: -$116M-29.3% margin
Dec 2023: -$29M-25.5% margin
Dec 2022: -$60M-75.4% margin

Net income

Margin = net income ÷ revenue

Dec 2025: $219M25.7% margin
Dec 2024: -$83M-21.1% margin
Dec 2023: -$26M-22.7% margin
Dec 2022: -$58M-73.0% margin

Operating cash flow

Cash the business generated, vs net income above

Dec 2025: $319M
Dec 2024: $137M
Dec 2023: -$13M
Dec 2022: -$36M

Cash vs long-term debt

Cash − long-term debt. Excludes short-term borrowings and leases

Dec 2025: —
Dec 2024: —
Dec 2023: —
Dec 2022: —

Shares (weighted avg.)

Change = this year ÷ prior year − 1

Dec 2025: 166M+26.8%
Dec 2024: 131M+253.5%
Dec 2023: 37M+8.7%
Dec 2022: 34M

Fiscal year ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022
RevenueGrowth = this year ÷ prior year − 1	$853M+115.1%	$396M+242.2%	$116M+45.0%	$80M
Operating incomeMargin = operating income ÷ revenue	$173M20.3% margin	-$116M-29.3% margin	-$29M-25.5% margin	-$60M-75.4% margin
Net incomeMargin = net income ÷ revenue	$219M25.7% margin	-$83M-21.1% margin	-$26M-22.7% margin	-$58M-73.0% margin
Operating cash flowCash the business generated, vs net income above	$319M	$137M	-$13M	-$36M
Cash vs long-term debtCash − long-term debt. Excludes short-term borrowings and leases	—	—	—	—
Shares (weighted avg.)Change = this year ÷ prior year − 1	166M+26.8%	131M+253.5%	37M+8.7%	34M

What the numbers show

Revenue rose in each of the last 3 fiscal years shown.
Operating margin was -75.4% in Dec 2022 and 20.3% in Dec 2025.
Weighted average shares increased 387.0% between Dec 2022 and Dec 2025.

Worth a closer look

Automatic checks on the figures above. A flag is a pattern to investigate, not a finding of wrongdoing, and each one lists ordinary explanations for it.

Share count rising

Weighted average shares rose 387.0% between Dec 2022 and Dec 2025 (26.8% in the latest year).

Shares (weighted avg.)	Dec 2025	166M
Shares (weighted avg.)	Dec 2024	131M
Shares (weighted avg.)	Dec 2022	34M

How it's calculated: Share growth = weighted average shares ÷ earlier-year weighted average shares − 1.

Rule: Weighted average shares up 5% or more in a year, or 10% or more over three years.

Why it matters, and ordinary explanations

Why it can matter: When a company issues new shares, each existing share becomes a smaller slice of the profits, so earnings per share can lag total earnings.

Common innocent explanations: Shares issued to pay for an acquisition or to fund growth, or employee share awards that vest over time.

See every flagged company in Market Watch →

Rules checked

Revenue up, operating cash flow down — not triggered. Revenue up 5% or more in the latest year while operating cash flow fell 10% or more.
Profit not matched by cash — not triggered. Net income positive, but operating cash flow below 70% of net income in each of the last two fiscal years.
Receivables growing faster than revenue — not run. Not enough comparable annual figures reported to run this check.
Share count rising — flagged. Weighted average shares up 5% or more in a year, or 10% or more over three years.
Operating margin shrinking — not triggered. Operating margin lower in each of the last two years, down 3 percentage points or more in total.