Astera Labs, Inc.(US:ALAB) Zhi Tong Cai Jing·2025-11-05 01:25Core Insights - Astera Labs reported a record revenue of $230.6 million for Q3 2025, marking a 20% quarter-over-quarter increase and a 104% year-over-year surge, exceeding analyst expectations of $206.5 million [1] - The company achieved a GAAP net profit of $91.1 million and a non-GAAP net profit of $88.2 million, a significant turnaround from a net loss of $7.6 million in the same period last year [1] - GAAP diluted earnings per share (EPS) reached $0.50, while non-GAAP diluted EPS was $0.49, compared to a loss of $0.05 per share in the previous year [1] Revenue Drivers - The substantial year-over-year revenue growth was primarily driven by increased production across multiple product lines in AI platforms [1] - Strong demand for signal conditioning, smart cable modules, and switch fabric product lines contributed to the revenue increase, particularly with the large-scale production of new AI platforms [1] Profitability Metrics - The GAAP gross margin was reported at 76.2%, while the non-GAAP gross margin was 76.4% [1] - GAAP operating income stood at $55.4 million, with a corresponding operating margin of 24.0%, while non-GAAP operating income was $96.1 million, reflecting an operating margin of 41.7% [1] Recent Developments - The company completed the acquisition of aiXscale Photonics GmbH to enhance its capabilities in photonic scalable solutions [2] - Astera Labs showcased a full suite of connectivity solutions based on open standards at the 2025 OCP Global Summit, emphasizing its vision for AI rack-level innovations [2] - Collaborations with over 30 industry partners, including AMD and Arm, were established to promote innovations within an open ecosystem [2] Future Outlook - For Q4, the company anticipates revenue between $245 million and $253 million, with non-GAAP diluted EPS expected to be around $0.51, surpassing market expectations of $0.42 [2] - GAAP EPS is projected at $0.20, slightly below the expected $0.25 [2] - Continued strong demand for PCIe 6 and significant growth anticipated for Taurus Ethernet smart cable modules [2]