Astera Labs (ALAB) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Astera Labs published the results on November 3, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Astera Labs reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Astera Labs has one reportable segment. The geographic split is by the billing address of its direct customers, which include its end customers' manufacturing partners and distributors, so it does not show where products are finally deployed.
• Warrants issued to Amazon are recorded as a reduction of revenue (contra revenue): $18.1 million in Q3 2026.

Source: Astera Labs Q3 2026 results, November 3, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Astera Labs splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Astera Labs's Singapore revenue was $310 million in Q3 2026, up 228% from $94.5 million in Q3 2025, 53% of total revenue.
• Astera Labs's China revenue was $147 million in Q3 2026, up 91% from $76.8 million in Q3 2025, 25% of total revenue.
• Astera Labs's Taiwan revenue was $87.0 million in Q3 2026, up 131% from $37.7 million in Q3 2025, 15% of total revenue.
• Astera Labs's United States revenue was $6.0 million in Q3 2026, down 57% from $13.9 million in Q3 2025, 1% of total revenue.
• Astera Labs's Other revenue was $35.0 million in Q3 2026, up 355% from $7.7 million in Q3 2025, 6% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Astera Labs said:

“Revenue within a range of $730 million to $750 million”

“GAAP gross margin of approximately 72%”

“GAAP diluted net income per share of approximately $1.13 to $1.17 on weighted-average diluted shares outstanding of approximately 187 million”

“Non-GAAP operating expenses within a range of approximately $194 million to $200 million”

Source: Astera Labs Q3 2026 release, Nov 3, 2026.

This is the company's own guidance as of Nov 3, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the ALAB forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Revenue and GAAP diluted EPS, each as first reported in that quarter's release.

We do not hold a confirmed date for Astera Labs's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 3, 2026

Astera Labs sells connectivity chips and modules for AI and cloud servers, and its Q3 2026 revenue was $584.9 million, up 154% from $230.6 million a year earlier and up 49% from $392.4 million in Q2. Its product families are Aries PCIe and CXL retimers and cable modules, Taurus Ethernet cable modules, Leo CXL memory controllers and Scorpio fabric switches. Astera Labs said Scorpio became its largest product family by revenue in Q3, led by volume production of the Scorpio X-Series 320-lane fabric switch. (Astera Labs Q3 2026 release, Nov 3, 2026; Astera Labs Form 10-K, 2025, Feb 20, 2026)

Astera Labs' 10-Q attributes the $354.3 million year-over-year increase primarily to higher unit shipments of Scorpio, Aries and Taurus products, and to higher average selling prices from a larger mix of hardware modules and Scorpio products, partly offset by lower prices in certain other product families. Astera Labs does not report revenue by product family in dollars. (Astera Labs Form 10-Q, Q3 2026, Nov 4, 2026)

Astera Labs' sales are concentrated. One direct customer, Customer A, accounted for 53% of Q3 2026 revenue, against 23% a year earlier; Customer B accounted for 14% and Customer C for 10%. The 10-Q notes that some of these are manufacturing partners buying on behalf of end customers, so the percentages can shift as end customers move volume between partners. (Astera Labs Form 10-Q, Q3 2026, Nov 4, 2026)

By billing address, Singapore accounted for $310.2 million of Q3 2026 revenue, China $146.7 million, Taiwan $87.0 million and the United States $6.0 million. Revenue is also reduced by warrants Astera Labs issued to Amazon: in February 2026 it issued a warrant for up to 3,262,299 shares at $142.82, vesting on tranches of purchases, and Q3 carried $18.1 million of warrants contra revenue. (Astera Labs Form 10-Q, Q3 2026, Nov 4, 2026; Astera Labs Form 10-K, 2025, Feb 20, 2026)

Astera Labs' GAAP diluted EPS was $0.99 in Q3 2026, against $0.50 a year earlier, and non-GAAP diluted EPS was $1.32, against $0.49. Non-GAAP figures exclude stock-based compensation, which was $82.6 million in the quarter, acquisition-related costs and the related income tax effect of $22.1 million. Astera Labs put its non-GAAP tax rate at approximately 11%. (Astera Labs Q3 2026 release, Nov 3, 2026)

Astera Labs' GAAP gross margin fell 390 basis points to 72.3% from 76.2%, which the 10-Q attributes primarily to higher inventory-related charges, higher manufacturing overhead and the Warrants. Research and development expense rose 117% to $171.0 million, including a $32.6 million increase in personnel costs from a 105% increase in headcount. GAAP operating margin was 30.6% and non-GAAP operating margin 44.7%. (Astera Labs Form 10-Q, Q3 2026, Nov 4, 2026; Astera Labs Q3 2026 release, Nov 3, 2026)

Astera Labs had an income tax provision of $9.1 million in Q3 2026, against a benefit of $24.3 million a year earlier. Diluted weighted-average shares were 184,077 thousand, against 180,631 thousand, and Astera Labs did not repurchase stock. Cash, cash equivalents and marketable securities were $1.4 billion at September 30, 2026. (Astera Labs Q3 2026 release, Nov 3, 2026; Astera Labs Form 10-Q, Q3 2026, Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Astera Labs gives a next-quarter outlook in its release. For Q4 2026 it guided revenue of $730 million to $750 million, GAAP and non-GAAP gross margin of approximately 72%, GAAP diluted EPS of approximately $1.13 to $1.17 and non-GAAP diluted EPS of approximately $1.62 to $1.66, on approximately 187 million weighted-average diluted shares. It expects GAAP operating expenses of approximately $273 million to $279 million and non-GAAP operating expenses of $194 million to $200 million. (Astera Labs Q3 2026 release, Nov 3, 2026)

Astera Labs said Aries 7 products are expected to begin sampling in Q4 2026 to select hyperscale, OEM and NPO customers, and that Orion rack reference and system designs are on track for availability through its OEM and ODM partners beginning in Q1 2027. (Astera Labs Q3 2026 release, Nov 3, 2026)

A consensus figure is the average of the models published by the analysts who cover Astera Labs, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Astera Labs's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning ALAB is on is ALAB a buy or a sell?, what analysts expect next is on the ALAB forecast, and what the company does is on the Astera Labs (ALAB) stock page.

Every number on this page can be traced to a document Astera Labs published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.