analyzeportfolio
Nasdaq · Technology

Astera Labs, Inc. (ALAB)

As-reported financials and SEC filings for Astera Labs, Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Astera Labs, Inc.

Astera Labs, Inc. designs and delivers semiconductor-based connectivity solutions for cloud and AI infrastructure. Its products include integrated circuits, boards, and modules that address data, network, and memory bottlenecks in high-performance computing environments. The company serves major hyperscalers, AI accelerator vendors, and system original equipment manufacturers (OEMs) worldwide.

Snapshot

Revenue
$852.5M
Revenue growth (YoY)
115.1%
Net income
$219.1M
Diluted EPS
$1.22
Gross margin
75.7%
Operating margin
20.3%
Net margin
25.7%
FCF margin
33.1%
ROE
16.1%
net income / fiscal-year-end equity
P/E
138.6×
trailing when available, otherwise FY EPS
Market cap
$48.56B
Long-term debt / equity
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Astera Labs

  • Revenue grew 115.1% to $853M in FY2025, slower than the 242.2% the year before.
  • Operating margin turned positive at 20.3% in FY2025, from a 75.4% operating loss in FY2022.
  • Most recent quarter Q2 FY2026: revenue $392M, up 104.5% from Q2 FY2025.
  • Free cash flow was $282M in FY2025, 33.1% of revenue.
  • Net income turned positive at $219M in FY2025, from a $83M loss in FY2024.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Astera Labs’s fundamentals sit among the 88 semiconductor companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin75.7%
96th percentile of 78
Operating margin20.3%
82nd percentile of 79
Net margin25.7%
89th percentile of 80
FCF margin33.1%
94th percentile of 78
Revenue growth (YoY)+115.1%
94th percentile of 88
ROE16.1%
78th percentile of 74
P/E138.6×
93rd percentile of 44
Short interest1.85d
25th percentile of 88

Astera Labs’s gross margin of 75.7% ranks in the 96th percentile of the 78 semiconductor companies reporting it. Astera Labs’s FCF margin of 33.1% ranks in the 94th percentile of the 78 semiconductor companies reporting it. Astera Labs’s revenue growth of +115.1% ranks in the 94th percentile of the 88 semiconductor companies reporting it.

No reported insider purchases (code P) in the last 90 days; 164 insider sales totaling $158.6M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 4 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
4
+6 quant / multi-strat
Initiated / added
6
2 new, 4 added
Reduced / exited
5
4 trimmed, 1 exited
Combined position
$2.04B
reported long value
InvestorAs ofPosition valueSharesChange
Whale Rock Capital ManagementQ2 2026$757.3M1.6MNew
Maverick CapitalQ2 2026$515.5M1.1MAdded
D. E. ShawquantQ2 2026$328.6M680.3KReduced
Millennium ManagementquantQ2 2026$292.0M604.5KAdded
Renaissance TechnologiesquantQ2 2026$74.1M153.4KAdded
AQR Capital ManagementquantQ2 2026$32.4M67.1KReduced
Two Sigma InvestmentsquantQ2 2026$23.2M48.1KReduced
Gotham Asset ManagementQ2 2026$13.8M28.5KAdded
Point72 Asset ManagementquantQ2 2026$6.5M13.5KNew
Bridgewater AssociatesQ2 2026$479,156992Reduced

No longer held by: Citadel Advisors (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
164
$158.6M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-17
filed 2026-08-19
Mohan JitendraChief Executive OfficerSell17.4K$344.99$6.0M
2026-08-17
filed 2026-08-19
Gajendra SanjayPresident and COOSell17.4K$344.99$6.0M
2026-08-17
filed 2026-08-19
Mohan JitendraChief Executive OfficerSell12.6K$333.60$4.2M
2026-08-17
filed 2026-08-19
Gajendra SanjayPresident and COOSell12.6K$333.60$4.2M
2026-08-17
filed 2026-08-19
Mohan JitendraChief Executive OfficerSell10.4K$337.76$3.5M
2026-08-17
filed 2026-08-19
Gajendra SanjayPresident and COOSell10.4K$337.76$3.5M
2026-08-17
filed 2026-08-19
Mohan JitendraChief Executive OfficerSell8.0K$338.58$2.7M
2026-08-17
filed 2026-08-19
Gajendra SanjayPresident and COOSell8.0K$338.58$2.7M
2026-08-17
filed 2026-08-19
Mohan JitendraChief Executive OfficerSell6.9K$334.23$2.3M
2026-08-17
filed 2026-08-19
Gajendra SanjayPresident and COOSell6.9K$334.23$2.3M
2026-08-17
filed 2026-08-19
Mohan JitendraChief Executive OfficerSell6.5K$339.74$2.2M
2026-08-17
filed 2026-08-19
Gajendra SanjayPresident and COOSell6.5K$339.74$2.2M

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
8.8M
settled 2026-08-14
Change vs prior
-3.9%
vs previous settlement
Days to cover
1.85
at avg daily volume
Avg daily volume
4.7M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-148.8M-3.9%1.85
2026-07-319.1M-4.4%2.03
2026-07-159.5M-24.9%2.07
2026-06-3012.7M+10.1%1.74
2026-06-1511.5M-3.3%2.06
2026-05-2911.9M-4.1%1.69
2026-05-1512.4M-5.4%2.17
2026-04-3013.1M-9.1%2.31

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022
Revenue$852.5M$396.3M$115.8M$79.9M
Gross profit$645.3M$302.7M$79.8M$58.7M
Operating income$173.4M$-116.1M$-29.5M$-60.2M
Net income$219.1M$-83.4M$-26.3M$-58.3M
Diluted EPS$1.22$-0.64$-0.71$-1.71

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022
Cash and equivalents$167.6M$79.6M$45.1M$76.1M
Current assets$1.36B$1.01B$185.8M
Total assets$1.53B$1.05B$196.3M
Current liabilities$133.0M$86.5M$35.1M
Long-term debt
Total liabilities$168.2M$89.7M$38.9M
Total equity$1.36B$964.8M$-97.7M$-85.3M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022
Operating cash flow$319.3M$136.7M$-12.7M$-35.9M
Capital expenditure$37.5M$34.2M$2.8M$3.9M
Free cash flow$281.8M$102.4M$-15.5M$-39.8M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$392.4M104.5%$153.1M$0.83
Q1 FY2026$308.4M93.4%$80.3M$0.44
Q4 FY2025$270.6M91.8%$45.0M$0.25
Q3 FY2025$230.6M103.9%$91.1M$0.50
Q2 FY2025$191.9M149.7%$51.2M$0.29
Q1 FY2025$159.4M144.3%$31.8M$0.18
Q4 FY2024$141.1M179.3%$24.7M$0.15
Q3 FY2024$113.1M206.2%$-7.6M$-0.05

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNasdaq
SectorTechnology
SIC industrySemiconductors & Related Devices
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2018
SEC CIK1736297

Selected SEC filings

10-K2026-02-20
View on EDGAR →
10-K2025-02-14
View on EDGAR →
10-Q2026-08-05
View on EDGAR →
10-Q2026-05-06
View on EDGAR →
10-Q2025-11-05
View on EDGAR →
10-Q2025-08-06
View on EDGAR →
8-K2026-08-04
View on EDGAR →
8-K2026-06-08
View on EDGAR →

Largest semiconductor peers

All semiconductor stocksAll Technology companies →

Monitor ALAB

Get an alert when Astera Labs files something material, see which superinvestors own it, and ask its filings a question with cited answers.

Monitor ALAB free

Includes one free filing-grounded research answer. Or check your whole portfolio, no account needed.

Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.