Companies

Astera Labs, Inc. Common Stock

NASDAQ: ALAB
$304.09
â–² $13.79 (+4.75%) today
Markets closed · 7:17am ET

Q1 2026 Earnings

Reported May 5, 2026, 4:11pm ET · SEC source
$0.61
Beat +13.47%
EPS · est. $0.54
$308.4M
Beat +5.49%
Revenue · est. $292.3M
+61.2%
Beating market
ALAB vs S&P since report
9 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−8%−4%0+4%May 5May 6report 4:11pm ETearnings+1.2%−5.8%
−8%−4%0+4%May 5May 6earnings+1.2%−5.8%
ALAB −5.8%S&P 500 +1.2%
−8%−4%0+4%May 5May 6report 4:11pm ETearnings+1.8%−5.8%
−8%−4%0+4%May 5May 6earnings+1.8%−5.8%
ALAB −5.8%NASDAQ +1.8%
−12%−6%0+6%May 4May 13report 4:11pm ETearnings+2.5%+5.1%
−12%−6%0+6%May 4May 13earnings+2.5%+5.1%
ALAB +5.1%S&P 500 +2.5%
−12%−6%0+6%May 4May 13report 4:11pm ETearnings+4.8%+5.1%
−12%−6%0+6%May 4May 13earnings+4.8%+5.1%
ALAB +5.1%NASDAQ +4.8%
−0.83%
Day of report
−8.54%
Next session
+4.76%
One week
+61.90%
30 days

S&P 500 over the same 30 days: +0.73%.

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 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 <a href="https://247wallst.com/investing/2026/04/30/what-an-astera-labs-golden-cross-tells-investors-about-the-next-leg-up/">the next leg up</a> 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

“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.”

Astera Labs CEO, on the earnings call

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 · SEC filings Q1 2025 Q1 2026
$0$90.0M$180.0M$270.0M$159.4M$308.4MRevenue$119.4M$235.1MGross Profit$11.3M$61.8MOperating Income$31.8M$80.3MNet Income
$0$90.0M$180.0M$270.0MRevenueGross ProfitOperating IncomeNet Income

Figures from SEC filings and company reports. Not investment advice.