Astera Labs, Inc.
ALABQ3 2025(ALAB Q2 FY2025)Derived92% AI
AI Revenue %
92%
AI Fair Value
$13.1B
AI Revenue (Q)
$130.7M
Total Revenue (Q)
$142.1M
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q2 FY2025 revenue was $191.925M, up from $76.850M in Q2 2024 (150% YoY growth). Operating income was $39.774M with net income of $51.219M. Six-month 2025 revenue was $351.367M vs $142.108M in H1 2024. The company's products continue to be deployed at the heart of AI platforms across all major hyperscalers. Warrants contra revenue of $1.761M (recorded as reduction to revenue) relates to warrants issued to key customers, a common practice in the AI supply chain. The sustained >100% growth rate confirms AI as the dominant driver. $176.6M AI / $191.9M total = ~92%.
Analyzed by claude-opus-4-6
Quoted Figures
Revenue $191,925 [thousands] for three months ended June 30, 2025
10-Q Condensed Consolidated Statements of Operations
Six months ended June 30, 2025 Revenue $351,367 [thousands]
10-Q Condensed Consolidated Statements of Operations
Operating income $39,774 [thousands]
10-Q Condensed Consolidated Statements of Operations
Net income $51,219 [thousands]
10-Q Condensed Consolidated Statements of Operations
AI Products Identified (Ring 1)
Aries PCIe/CXL Smart DSP RetimersAries PCIe/CXL Smart Cable ModulesTaurus Ethernet Smart Cable ModulesLeo CXL Memory Connectivity ControllersScorpio Smart Fabric Switches
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
General-purpose data center server connectivity (non-AI workloads)
Confidence Tier
DerivedCalculated from reported segments primarily serving AI