Results
4Record quarterly revenue of $392.4 million, up 27% QoQ and up 104% year-over-year
Management commentary
Q2 revenue strength reflects diversified growth across AI fabrics and signal conditioning
Outlook
3Q3 revenue inflection to be driven by Scorpio™ X-Series 320-lane fabric switch production ramp
Results
SAN JOSE, CA, U.S. – August 4, 2026 – Astera Labs, Inc. (Nasdaq: ALAB), a leader in semiconductor-based connectivity solutions for rack-scale AI infrastructure, today announced preliminary financial results for the second quarter of fiscal year 2026, ended June 30, 2026.
Management commentary
2“Astera Labs delivered outstanding Q2 2026 results, with record revenue of $392.4 million, up 27% sequentially and 104% year-over-year, driven by broad-based strength across our portfolio, including record quarterly revenue for our Aries product line,” said Jitendra Mohan, Astera Labs’ Chief Executive Officer.
1“We expect momentum to accelerate in Q3 as Scorpio fabric switches become our largest product family, one quarter ahead of our prior expectations.Guidance raised
This milestone will mark our evolution into a complete AI fabric infrastructure provider.
New design wins across a broadening set of customers coupled with our expansion into optical interconnects and custom solutions further expand our growth opportunity in 2027 and beyond.”
Results
Second Quarter of Fiscal 2026 Financial Highlights
GAAP Financial Results:
5Revenue of $392.4 million, up 27% sequentially and up 104% year-over-year
GAAP gross margin of 73.3%
GAAP operating income of $89.2 million
GAAP operating margin of 22.7%
GAAP net income of $153.1 million
6GAAP diluted net income per share of $0.83
Non-GAAP gross margin of 73.7%
Non-GAAP operating income of $153.5 million
Non-GAAP operating margin of 39.1%
Non-GAAP net income of $145.8 million
7Non-GAAP diluted net income per share of $0.80
Q2 2026 and Recent Business Highlights
Corporate events
Expanded Taurus signal conditioning portfolio to include 3.2T Smart Retimers and Smart Redrivers for 224G Ethernet and UALink connectivity, purpose-built for AI infrastructure.
The new Taurus Smart Signal Conditioners are the industry’s first OCP standard footprint compatible design to enable Smart Swap, which will give architects the flexibility to choose between low-power Smart Redrivers and long-reach Smart Retimers without board re-design.
The expanded portfolio leverages Astera Labs’ Unified COSMOS software capabilities and will integrate telemetry, diagnostics, and intelligent link management to deliver advanced observability across high-speed interconnects.
Showcased comprehensive portfolio updates at Computex 2026 in Taiwan highlighting current AI rack-scale connectivity strategy and the first public demonstration of the Scorpio X-Series 320 Lane Smart Fabric Switch.
Additional demonstrations included ultra-low latency optical connectivity, NVIDIA MGX-based reference designs, 200G/lane technology with SerDes diagnostics, COSMOS-enabled rack-level validation, and production ready systems from Astera Labs and ecosystem partners.
Demonstrated ecosystem partnership and compatibility at AMD Advancing AI 2026 with multiple exhibits highlighting Astera Labs’ solutions to resolve data movement bottlenecks across PCIe, CXL, and Ethernet.
Joint architectures included AMD Instinct platforms operating with Scorpio P-Series 320L for fabric optimization, Leo CXL memory controller for smart memory tiering, and Taurus 1.6T Smart Ethernet Retimers for scale-out connectivity, all with full-stack interop validated from end to end.
Announced significant expansion of Astera Labs’ Taiwan operations and Cloud-Scale Interop Lab, deepening the company’s presence within one of the world’s most important semiconductor ecosystems.
Astera Labs’ expanded Taiwan footprint positions the company to bring together broader engineering, cross-functional support, and closer business coordination with key AI platform providers including AMD, Arm, Intel, and NVIDIA.
Outlook
Third Quarter of Fiscal 2026 Financial Outlook
Based on current business trends and conditions, Astera Labs estimates the following:
GAAP Financial Outlook:
Revenue within a range of $540 million to $560 million
GAAP gross margin of approximately 72%
GAAP operating expenses within a range of approximately $232 million to $236 million
GAAP tax rate of approximately 4%
GAAP diluted net income per share of approximately $0.87 to $0.92 on weighted-average diluted shares outstanding of approximately 185 million
Non-GAAP Financial Outlook (2) :
Non-GAAP gross margin of approximately 72%
Non-GAAP operating expenses within a range of approximately $156 million to $160 million
Non-GAAP tax rate of approximately 12%
8Non-GAAP dilu ted net income per share of approximately $1.16 to $1.21 on weighted-average diluted shares outstanding of approximately 185 million
Corporate events
Acquisition-related costs
Income tax effect
Results
Other
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