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Astera Labs Announces Financial Results for the Fourth Quarter of Fiscal Year 2024
Record quarterly revenue of $141.1 million, up 25% QoQ and up 179% YoY Fiscal 2024 record revenue of $396.3 million, up 242% versus the prior yearRamping
About this update from Astera Labs, Inc.
[{"type":"text","content":"Record quarterly revenue of $141.1 million, up 25% QoQ and up 179% YoY Fiscal 2024 record revenue of $396.3 million, up 242% versus the prior yearRamping across diverse set of customers and platforms with four product families in fiscal 2025 SANTA CLARA, Calif., Feb. 10, 2025 (GLOBE NEWSWIRE) -- Astera Labs, Inc. (Nasdaq: ALAB), a global leader in semiconductor-based connectivity solutions for cloud and AI infrastructure, today announced preliminary financial results for the fourth quarter and full fiscal year 2024, ended December 31, 2024. “Astera Labs delivered strong Q4 results, with revenue growing 25% versus the previous quarter, and capped off a stellar 2024 with 242% revenue growth year-over-year,” said Jitendra Mohan, Astera Labs’ Chief Executive Officer. “The revenue growth in 2024 was largely driven by Aries PCIe Retimer products, with Taurus Smart Cable Modules for Ethernet coming in strongly in Q4. We expect 2025 to be a breakout year as we enter a new phase of growth driven by revenue from all four of our product families to support a diverse set of customers and platforms. This includes our flagship Scorpio Fabric products for head-node PCIe connectivity and backend AI accelerator scale-up clustering.” Fourth Quarter of Fiscal 2024 Financial Highlights GAAP Financial Results: Revenue of $141.1 million, up 25% sequentially and up 179% year-over-yearGAAP gross margin of 74.0%GAAP operating income of $0.1 millionGAAP operating margin of 0.1%GAAP net income of $24.7 millionGAAP diluted net earnings per share of $0.14 Non-GAAP Financial Results (excluding the impact of stock-based compensation expense and the income tax effects of non-GAAP adjustments): Non-GAAP gross margin of 74.1%Non-GAAP operating income of $48.4 millionNon-GAAP operating margin of 34.3%Non-GAAP net income of $66.5 millionNon-GAAP diluted earnings per share of $0.37 Full Year Fiscal 2024 Financial Highlights GAAP Financial Results: Revenue of $396.3 million, up 242% year-over-yearGAAP gross margin of 76.4%GAAP operating loss of $116.1 millionGAAP operating margin of (29.3%)GAAP net loss of $83.4 millionGAAP diluted net loss per share of $0.64 Non-GAAP and Non-GAAP Financial Results (excluding the impact of stock-based compensation expense and the income tax effects of non-GAAP adjustments): Non-GAAP gross margin of 76.6%Non-GAAP operating income of ...