Astera Labs, Inc.

ALAB

NasdaqLarge CapTechnology

13F Pro Quality Score

75.1/100

Rank #102 of 2,961 stocksTOP 5%

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Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.

Revenue Growth

98.1/100

Profitability

93.0/100

Balance Sheet

97.2/100

Earnings Quality

38.0/100

Free Cash Flow

76.6/100

Institutional Flow

84.9/100

Revenue Scale

53.5/100

Dilution Risk

9.5/100

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What's Driving ALAB's Business? Latest 10-Q Breakdown

43/43 datapoints verified

AI-extracted from the 10-Q filed 2026-08-05 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Revenue rose 104% year over year to $392.4 million on higher Aries, Scorpio, and Taurus unit shipments, though gross margin fell 250 bps to 73.3%.

Biggest Revenue Drivers

China$152.7M

Revenue by location is determined by the billing address of customers, including end customers' manufacturing partners and distributors.

Singapore$113.7M

Biggest Revenue Drivers

Total revenue: $392.4M+104% YoY

China$152.7M

Revenue by location is determined by the billing address of customers, including end customers' manufacturing partners and distributors.

Singapore$113.7M

Taiwan$105.8M

Other$14.7M

United States$5.5M

Largest Expense Items

Research and development$135.9M+104% YoY

$32.7M more personnel costs on 118% headcount growth, $18.6M more stock-based compensation, and $12.1M higher R&D program spending.

Cost of revenue$104.8M+126% YoY

Primarily higher unit shipments and shift in product mix cost.

General and administrative$36.0M+76% YoY

$6.4M more stock-based compensation, $5.6M more personnel costs on 79% headcount growth, and $1.8M higher professional services fees.

Sales and marketing$26.4M+42% YoY

$4.9M increase in personnel-related costs from 47% headcount growth and $2.2M more stock-based compensation.

Margins: Gross margin decreased 250 bps to 73.3% from 75.8%, driven primarily by a shift in product mix toward lower margin hardware modules and the impact of the Warrants.

Watch Items from the Filing

Customer concentration is extreme: Customers A, B, C, and D were 29%, 25%, 15%, and 13% of quarterly revenue; Customer A is 30% of accounts receivable.
China billing-address revenue was $152.7M of $392.4M, against disclosed risk from U.S.-China trade restrictions and export controls.
Warrants reduced revenue by $10.2M this quarter versus $1.8M a year ago; the February 2026 Warrant carries maximum fair value of $280.0M recognizable through January 2033.
Net income of $153.1M included a $50.3M income tax benefit (effective rate -48.9%) from excess equity compensation tax benefits, not operations.
Working capital build: accounts receivable rose to $192.5M from $83.2M and inventory to $113.8M from $59.0M since December 31, 2025.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →