Astera Labs, Inc.
ALABQ4 2025(ALAB Q3 FY2025)Derived93% AI
AI Revenue %
93%
AI Fair Value
$13.5B
AI Revenue (Q)
$237.3M
Total Revenue (Q)
$255.2M
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q3 FY2025 revenue was $230.575M, up from $113.086M in Q3 2024 (104% YoY growth). Operating income was $55.406M with net income of $91.114M (including tax benefit). Nine-month 2025 revenue was $581.942M vs $255.194M in 9M 2024. At this scale ($920M+ annualized run rate), Astera Labs' revenue is almost entirely driven by AI infrastructure buildout. The company's Taurus and Scorpio products are specifically designed for GPU-to-GPU interconnect in AI training clusters, and these newer product families are growing as a share of the mix. The small non-AI residual (~7%) accounts for legacy general-purpose data center server deployments of Aries retimers that may not be AI-specific. $214.4M AI / $230.6M total = ~93%.
Analyzed by claude-opus-4-6
Quoted Figures
Revenue $230,575 [thousands] for three months ended September 30, 2025
10-Q Condensed Consolidated Statements of Operations
Nine months ended September 30, 2025 Revenue $581,942 [thousands]
10-Q Condensed Consolidated Statements of Operations
Operating income $55,406 [thousands]
10-Q Condensed Consolidated Statements of Operations
Net income $91,114 [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