$ALAB Astera Labs reported earnings

Q3 2024 results ended September 30, 2024

- Revenue: $113.1M, +206% YoY, +47% QoQ

- GAAP Net Loss: $7.6M

- GAAP EPS: -$0.05

- Non-GAAP Net Income: $40.3M

- Non-GAAP EPS: $0.23

CEO Jitendra Mohan: "Astera Labs delivered strong Q3 results, setting our fifth consecutive quarterly revenue record and grew 47% versus the previous quarter. Our business has now entered a new growth phase with multiple product families ramping across AI platforms based upon both third-party GPUs and internally developed AI accelerators."

Financial Metrics:

- GAAP Gross Margin: 77.7%

- Non-GAAP Gross Margin: 77.8%

- GAAP Operating Loss: $8.9M

- Non-GAAP Operating Income: $36.6M

- Non-GAAP Operating Margin: 32.4%

Business highlights:

- Introduced new Scorpio Smart Fabric Switches for AI infrastructure

- Joined Ultra Accelerator Link (UALink) Consortium as promoting member

- Demonstrated first live end-to-end PCIe Gen 6 system

- Won FMS 2024 Most Innovative Technology Award

- Shipping Scorpio in pre-production quantities

Q4 2024 Outlook:

- Revenue: $126M-$130M

- GAAP Gross Margin: ~75%

- Non-GAAP Gross Margin: ~75%

- GAAP EPS: $0.04-$0.06

- Non-GAAP EPS: $0.25-$0.26