Astera Labs, Inc. has released preliminary financial results for the first quarter of fiscal year 2025, concluding on March 31, 2025. The company achieved record revenue of $159.4 million, marking an increase of 13% compared to the previous quarter and a significant 144% year-over-year growth.
Financial Highlights
Astera Labs reported notable figures in its financial performance:
- Revenue: $159.4 million, reflecting a 13% sequential growth and a 144% increase year-over-year.
- GAAP gross margin: 74.9%.
- GAAP operating income: $11.3 million.
- GAAP operating margin: 7.1%.
- GAAP net income: $31.8 million.
- GAAP diluted earnings per share: $0.18.
In terms of non-GAAP results, the figures were as follows:
- Non-GAAP gross margin: 74.9%.
- Non-GAAP operating income: $53.7 million.
- Non-GAAP operating margin: 33.7%.
- Non-GAAP net income: $59.6 million.
- Non-GAAP diluted earnings per share: $0.33.
Business Developments and Initiatives
Astera Labs highlighted several advancements during the first quarter:
- The company ramped up production of its PCIe Gen 6 connectivity portfolio aimed at enhancing AI and cloud infrastructure deployments. Notable shipments included Scorpio P-Series Smart Fabric Switches and Aries 6 PCIe Retimers.
- A new reference design compatible with PCIe 6 was introduced, harnessing NVIDIA’s Blackwell-based MGX platform to enable efficient AI systems.
- The Ultra Accelerator Link (UALink) Consortium ratified the UALink 200G 1.0 Specification, which establishes a high-performance interconnect standard for AI computing pods.
- Astera Labs expanded its Cloud-Scale Interop Lab, enabling comprehensive testing and interoperability for PCIe 6 systems, showcasing breakthroughs with NVIDIA’s Blackwell GPU and Micron’s NVMe SSD during the GTC 2025 event.
- Dr. Craig Barratt, a veteran in technology leadership, was appointed to the Board of Directors, bringing extensive experience to advance Astera’s connectivity solutions.
Financial Outlook for Q2 FY 2025
Looking ahead, Astera Labs provided an optimistic financial outlook for the second quarter of fiscal 2025:
- Projected revenue: between $170 million and $175 million.
- GAAP gross margin: approximately 74%.
- GAAP operating expenses: projected between $113 million and $115 million.
- GAAP tax rate: approximately 21%.
- GAAP diluted earnings per share: expected between $0.10 to $0.11.
For a non-GAAP perspective, the outlook includes:
- Non-GAAP gross margin: approximately 74%.
- Non-GAAP operating expenses: expected between $73 million and $75 million.
- Non-GAAP tax rate: approximately 10%.
- Non-GAAP diluted earnings per share: projected between $0.32 to $0.33.
Astera Labs conducted a conference call to discuss the first quarter’s financial results, with a replay available on the company’s website for future reference.