Q1 26 EPS
$0.61
BEAT +13.47%
Est. $0.54
Q1 26 Revenue
$308.4M
BEAT +5.49%
Est. $292.3M
vs S&P Since Q1 26
+65.9%
BEATING MARKET
ALAB +66.8% vs S&P +1.0%
Market Reaction
Did ALAB Beat Earnings? Q1 2026 Results
Astera Labs delivered a blowout first quarter for fiscal 2026, posting revenue of $308.36 million, a 93.4% jump from a year ago, while non-GAAP diluted EPS of $0.61 cleared the $0.54 consensus estimate by 13.47%, extending the company's streak of bea… Read more Astera Labs delivered a blowout first quarter for fiscal 2026, posting revenue of $308.36 million, a 93.4% jump from a year ago, while non-GAAP diluted EPS of $0.61 cleared the $0.54 consensus estimate by 13.47%, extending the company's streak of beating consensus EPS estimates to four consecutive quarters. The primary engine behind the outperformance was robust demand for its PCIe 6 AI connectivity portfolio, with GAAP gross margin expanding to 76.3% from 74.9% a year earlier as favorable product mix and operating leverage took hold at scale. The quarter also featured the launch of the Scorpio X-Series 320-lane Smart Fabric Switch, purpose-built for frontier AI lab workloads and targeting what management sees as a $20 billion merchant scale-up market by 2030, a product announcement that helped lift the stock sharply in the days surrounding results. Wall Street's attention has increasingly turned to the next leg up for shares after that reaction. Looking ahead, management guided Q2 2026 revenue of $355 million to $365 million, with non-GAAP EPS of $0.68 to $0.70, though gross margin is expected to compress to roughly 73% as newer switch products ramp.
Key Takeaways
- • Robust demand for PCIe 6 portfolio driving 93% year-over-year and 14% sequential revenue growth
- • Growing market share for 32 to 320 lane PCIe switches and Smart Cable Modules
- • Expanding adoption of Intelligent Connectivity Platform across hyperscaler customers
ALAB Forward Guidance & Outlook
For Q2 2026, Astera Labs guides revenue of $355 million to $365 million. GAAP gross margin is expected at approximately 73%, with non-GAAP gross margin also approximately 73%. GAAP operating expenses are guided at $188 million to $191 million, and non-GAAP operating expenses at $128 million to $131 million. GAAP diluted EPS is expected at $0.44 to $0.46, while non-GAAP diluted EPS is guided at $0.68 to $0.70 on approximately 184 million weighted-average diluted shares. The GAAP tax rate is approximately 1% and the non-GAAP tax rate approximately 12%. The company expects production ramp of the Scorpio X-Series 320-lane switch in H2 2026, with multiple Scorpio P-Series variant shipments also expected in H2 2026 and broader volume ramps targeted for 2027.
ALAB YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
“Astera Labs delivered strong Q1 2026 financial results with revenue growing by 14% sequentially and 93% year-over-year to a record level of $308.4 million, driven by robust demand for our PCIe 6 portfolio.”
— Jitendra Mohan, Q1 2026 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% |