Astera Labs, Inc. Common Stock (ALAB) Financial Statements & Historical Data

Astera Labs, Inc. Common Stock (ALAB) — Price $290.43 (closing price, October 29, 2026) — Technology — Semiconductors — NASDAQ

Latest reported results:

Detailed financial statements for Astera Labs, Inc. Common Stock (ALAB): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year: ten fiscal years free and up to 20 with Premium.

Astera Labs, Inc. develops, produces, and markets semiconductor-based connectivity solutions for cloud computing and artificial intelligence infrastructure. Its core offering, the Intelligent Connectivity Platform, comprises a comprehensive portfolio of data, network, and memory connectivity products. These are unified by a software-defined architecture, which empowers customers to seamlessly deploy and operate high-performance cloud and AI systems at scale.

Analysis Summary

Trailing-twelve-month margins: gross margin 75.1%, operating margin 22.8%, net margin 30.7%.

At $290.43 (closing price, October 29, 2026), ALAB trades at a P/E of 143.07 and an ROE of 25.24%. Market capitalisation stands at $50.4B, placing it among large-cap names.

Balance sheet quality for ALAB: current ratio of 10.2, net cash position of $1.15B. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.

Cash flow quality is strong: free cash flow of $281.8M represents 129% conversion of reported net income. High conversion (above 90%) suggests earnings translate cleanly into cash; lower conversion may indicate working capital tightness or accounting timing differences.

Income Statement (10y)

Year2022202320242025
Revenue$79.9M$115.8M$396.3M$852.5M
Cost of Revenue$21.2M$36.0M$93.6M$207.3M
Gross Profit$58.7M$79.8M$302.7M$645.3M
Research & Development$73.7M$73.4M$200.8M$304.0M
Selling, General & Admin$45.2M$35.9M$217.9M$167.8M
Operating Expenses$118.9M$109.3M$418.8M$471.8M
Operating Income-$60.2M-$29.5M-$116.1M$173.4M
EBITDA-$56.8M-$21.2M-$78.6M$225.0M
Interest Expense0000
Pre-tax Income-$57.6M-$22.9M-$81.8M$218.2M
Income Tax$764,000$3.3M$1.6M-$981,000
Net Income-$58.3M-$26.3M-$83.4M$219.1M
EPS$-0.45$-0.17$-0.64$1.32
EPS (Diluted)$-0.45$-0.17$-0.64$1.22
Shares Outstanding (Diluted)130.5 M152.5 M131.3 M179.6 M

Income Statement (Quarterly)

Year2025-Q32025-Q42026-Q12026-Q2
Revenue$230.6M$270.6M$308.4M$392.4M
Gross Profit$175.8M$204.5M$235.1M$287.6M
Operating Income$55.4M$67.0M$61.8M$89.2M
EBITDA$68.3M$81.8M$77.1M$106.8M
Net Income$91.1M$45.0M$80.3M$153.1M
EPS$0.54$0.27$0.47$0.89
EPS (Diluted)$0.50$0.25$0.44$0.84

Balance Sheet (10y)

Year2022202320242025
Cash & Equivalents$76.1M$45.1M$79.6M$167.6M
Short-term Investments$87.1M$104.2M$834.8M$1.02B
Receivables$10.7M$8.3M$38.8M$83.2M
Inventory$28.9M$24.1M$43.2M$59.0M
Total Current Assets$206.0M$185.8M$1.01B$1.36B
Property, Plant & Equipment$3.5M$7.6M$35.7M$92.0M
Goodwill0000
Intangible Assets0000
Total Assets$211.7M$196.3M$1.05B$1.53B
Accounts Payable$10.3M$6.3M$26.9M$42.4M
Short-term Debt0000
Total Current Liabilities$40.1M$35.1M$86.5M$133.0M
Long-term Debt0000
Total Liabilities$297.0M$38.9M$89.7M$168.2M
Retained Earnings-$99.1M-$125.4M-$208.8M$10.3M
Total Equity-$85.3M$157.4M$964.8M$1.36B
Total Debt$1.6M$2.9M$1.3M$35.1M
Net Debt-$161.5M-$146.4M-$913.0M-$1.15B
Working Capital$165.9M$150.7M$926.4M$1.23B

Balance Sheet (Quarterly)

Year2025-Q32025-Q42026-Q12026-Q2
Cash & Equivalents$140.4M$167.6M$148.3M$111.5M
Total Assets$1.40B$1.53B$1.66B$1.93B
Total Liabilities$129.5M$168.2M$165.3M$205.8M
Total Equity$1.27B$1.36B$1.49B$1.73B
Total Debt$58.2M$35.1M$41.9M0

Cash Flow (10y)

Year2022202320242025
Net Income-$58.3M-$26.3M-$83.4M$219.1M
Depreciation & Amortization$807,000$1.8M$3.2M$6.8M
Stock-based Compensation$30.2M$10.7M$234.6M$160.0M
Change in Working Capital-$10.0M-$9.7M-$13.3M-$66.0M
Operating Cash Flow-$35.9M-$12.7M$136.7M$319.3M
Capital Expenditure-$3.9M-$2.8M-$34.2M-$37.5M
Acquisitions000-$28.8M
Stock Repurchased-$313,000-$210,000-$1.1M0
Dividends Paid0000
Free Cash Flow-$39.8M-$15.5M$102.4M$281.8M

Cash Flow (Quarterly)

Year2025-Q32025-Q42026-Q12026-Q2
Operating Cash Flow$78.2M$95.3M$74.6M$87.7M
Capital Expenditure-$12.3M-$18.7M-$7.6M-$20.5M
Free Cash Flow$65.9M$76.6M$67.0M$67.2M
Dividends Paid0000
Stock-based Compensation$40.7M$41.4M$48.9M$64.0M

Growth & Margins (10y)

Year2022202320242025
Revenue Growth (YoY)+45.0%+242.2%+115.1%
Net Income Growth (YoY)+55.0%-217.7%+362.7%
EPS Growth (YoY)+62.2%-276.5%+306.2%
Shares Change (YoY)+16.9%-13.9%+36.8%
FCF Growth (YoY)+61.1%+761.8%+175.1%
Gross Margin73.5%68.9%76.4%75.7%
Operating Margin-75.4%-25.5%-29.3%20.3%
EBITDA Margin-71.1%-18.3%-19.8%26.4%
Net Margin-73.0%-22.7%-21.1%25.7%
FCF Margin-49.8%-13.4%25.8%33.1%
Effective Tax Rate-1.3%-14.4%-2.0%-0.4%

Per-Share Data (10y)

Year2022202320242025
FCF Per Share$-0.30$-0.10$0.78$1.57
Dividends Per Share$0.00$0.00$0.00$0.00
Shares Outstanding (Basic)130.5 M152.5 M131.3 M166.4 M

What to look at in Technology companies

Profitability

Return on Equity25.24%
Return on Invested Capital15.47%
Return on Assets19.13%
Gross Margin75.13%
Operating Margin22.75%
Net Margin30.74%

Financial Health

Debt / Equity0.00
Current Ratio10.05
Piotroski F-Score5
Altman Z-Score100.66

Key Ratios (10y)

Year2022202320242025
P/E-137.84-364.88-206.95126.03
P/B-94.8760.0918.0220.30
P/S101.3181.6943.8732.47
Gross Margin73.5%68.9%76.4%75.7%
Operating Margin-75.4%-25.5%-29.3%20.3%
Net Margin-73.0%-22.7%-21.1%25.7%

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Explore sector: Technology · Semiconductors

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