Q3 24 EPS
$0.23
BEAT +43.75%
Est. $0.16
Q3 24 Revenue
$113.1M
BEAT +29.39%
Est. $87.4M
vs S&P Since Q3 24
+302.2%
BEATING MARKET
ALAB +330.7% vs S&P +28.5%
Market Reaction
Did ALAB Beat Earnings? Q3 2024 Results
Astera Labs delivered a blowout third quarter, with surging AI infrastructure demand powering results that cleared expectations on every major metric. Revenue came in at $113.09 million, a 206.2% year-over-year jump that beat the $87.40 million conse… Read more Astera Labs delivered a blowout third quarter, with surging AI infrastructure demand powering results that cleared expectations on every major metric. Revenue came in at $113.09 million, a 206.2% year-over-year jump that beat the $87.40 million consensus by 29.39%, as multiple product families ramped simultaneously across AI platforms built on both third-party GPUs and internally developed accelerators. Non-GAAP EPS of $0.23 topped the $0.16 consensus estimate by 43.75%, while non-GAAP operating margin expanded sharply to 32.4% from 24.4% in the prior quarter, reflecting the operating leverage embedded in the business as it scales. A key strategic catalyst was the introduction of the Scorpio Smart Fabric Switch family, purpose-built for cloud-scale AI infrastructure and already shipping in pre-production quantities, which is expected to drive meaningfully higher dollar content per platform going forward. Analysts project the company reaching GAAP profitability by 2026, adding medium-term credibility to the growth story. Management guided Q4 revenue to $126 million to $130 million, with non-GAAP EPS of $0.25 to $0.26, signaling continued momentum into year-end.
Key Takeaways
- • Multiple product families ramping across AI platforms based on third-party GPUs and internally developed AI accelerators
- • Expanding product portfolio with new Scorpio Fabric Switches driving higher dollar content in AI platforms
- • 206% year-over-year revenue growth driven by AI infrastructure demand
ALAB YoY Financials
Q3 2024 vs Q3 2023, source: SEC Filings
“Astera Labs delivered strong Q3 results, setting our fifth consecutive quarterly revenue record and grew 47% versus the previous quarter.”
— Jitendra Mohan, Q3 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% |