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Astera Labs Announces Financial Results for the First Quarter of Fiscal Year 2024
Record quarterly revenue of $65.3 million driven by expanding AI infrastructure build-out, up 29% QoQ and up 269% YoY Sampling third generation Aries Smart
About this update from Astera Labs, Inc.
[{"type":"text","content":"\n\nRecord quarterly revenue of $65.3 million driven by expanding AI infrastructure build-out, up 29% QoQ and up 269% YoY\n\n\n\nSampling third generation Aries Smart DSP Retimers for PCIe 6.x connectivity to leading AI platform providers to support next-generation cloud infrastructure\n\n\n\n SANTA CLARA, Calif.--(BUSINESS WIRE)--\nAstera Labs (Nasdaq: ALAB), a global leader in semiconductor-based connectivity solutions for cloud and AI infrastructure, today announced preliminary financial results for the first quarter of fiscal 2024, ended March 31, 2024.\n\n\n“Astera Labs started the year strong, achieving record revenue in the first quarter, driven by the accelerating deployment of AI infrastructure,” said Jitendra Mohan, Astera Labs’ Chief Executive Officer. “As hyperscalers embark on a significant transformation of their data centers to support AI applications with increased capital investment, we're witnessing the emergence of a multi-year growth cycle. Our Intelligent Connectivity Platform, comprising of the COSMOS software suite and semiconductor-based PCIe, Ethernet, and CXL solutions, is uniquely positioned to support this growth and is foundational to deploying AI infrastructure at scale. In the first quarter, we further extended our connectivity platform and started sampling our third generation of Aries Retimers with support for PCIe 6.x and the industry’s first PCIe/CXL Smart Cable Modules for Active Electrical Cable applications to enable multi-rack GPU clustering.”\n\n\nQ1 Financial Highlights\n\n\nGAAP Financial Results:\n\n\n\nRevenue of $65.3 million, up 29% sequentially and up 269% year-over-year\n\n\n\nGAAP gross margin of 77.4%\n\n\n\nGAAP operating loss of $83.0 million\n\n\n\nGAAP net loss of $93.0 million\n\n\n\nGAAP basic and diluted net loss per share attributable to common stockholders of ($1.77) on weighted-average shares outstanding of 52.5 million\n\n\n\nNon-GAAP Financial Results (excluding the impact of stock compensation, employer payroll tax related to stock-based compensation from our IPO, income tax effects of non-GAAP adjustments, and certain other items):\n\n\n\nNon-GAAP gross margin of 78.2%\n\n\n\nNon-GAAP operating income of $15.9 million\n\n\n\nNon-GAAP net income of $14.3 million\n\n\n\nPro forma non-GAAP diluted earnings per share of $0.10\n\n\n\nQ1 and Recent Business Highlights\n\n...