Q2 24 EPS
$0.13
BEAT +116.67%
Est. $0.06
Q2 24 Revenue
$76.9M
BEAT +20.40%
Est. $63.8M
vs S&P Since Q2 24
+760.2%
BEATING MARKET
ALAB +803.1% vs S&P +42.9%
Market Reaction
Did ALAB Beat Earnings? Q2 2024 Results
Astera Labs delivered a standout second quarter, posting revenue of $76.85 million, a 619% jump from the year-ago period and well ahead of the $63.83 million consensus estimate, as accelerating demand for AI infrastructure from hyperscalers drove the… Read more Astera Labs delivered a standout second quarter, posting revenue of $76.85 million, a 619% jump from the year-ago period and well ahead of the $63.83 million consensus estimate, as accelerating demand for AI infrastructure from hyperscalers drove the semiconductor connectivity company's growth. Non-GAAP diluted EPS of $0.13 beat the $0.06 consensus by 116.67%, though GAAP results reflected a net loss of $7.55 million, largely attributable to $43.07 million in stock-based compensation expense. The core driver was straightforward: hyperscalers expanding AI platform deployments increasingly relied on Astera's connectivity solutions, with the company securing design wins across both third-party and internally developed accelerator architectures. Gross margins held firm at roughly 78% on both a GAAP and non-GAAP basis, underscoring the premium positioning of its products. Looking ahead, management guided Q3 revenue of $95 million to $100 million, implying continued strong sequential momentum, with non-GAAP diluted EPS expected between $0.16 and $0.17 as operating leverage continues to build.
Key Takeaways
- • Production ramp of new AI platforms at hyperscalers featuring third-party and internally developed accelerators
- • Sustained secular trends in AI adoption
- • Design wins across diverse AI platform architectures
- • Increasing average dollar content in next-generation GPU-based AI platforms
ALAB YoY Financials
Q2 2024 vs Q2 2023, source: SEC Filings
“Astera Labs achieved robust top-line growth during Q2, and we expect even stronger sequential growth in the September quarter, fueled by the production ramp of new AI platforms at hyperscalers featuring both third-party and internally developed accelerators.”
— Jitendra Mohan, Q2 2024 Earnings Press Release
ALAB Earnings Trends
ALAB vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ALAB EPS Trend
Earnings per share: estimate vs actual
ALAB Revenue Trend
Quarterly revenue: estimate vs actual
ALAB Quarterly Results
7 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.54 | $0.61 | +13.47% | $308.4M | +5.49% |
| Q3 25 BEAT | $0.39 | $0.49 | +25.61% | $230.6M | +11.70% |
| Q2 25 BEAT | $0.32 | $0.44 | +35.72% | $191.9M | +11.29% |
| Q1 25 BEAT | $0.28 | $0.33 | +16.28% | $159.4M | +5.21% |
| Q3 24 BEAT | $0.16 | $0.23 | +43.75% | $113.1M | +29.39% |
| Q2 24 BEAT | $0.06 | $0.13 | +116.67% | $76.9M | +20.40% |
| Q1 24 BEAT | $0.04 | $0.10 | +150.00% | $65.3M | +15.07% |