Business
Astera Labs Announces Financial Results for the Second Quarter of Fiscal Year 2024
Record quarterly revenue of $76.9 million, up 18% QoQ and up 619% YoY Multiple secular trends, design wins across diverse AI platform architectures, and
About this update from Astera Labs, Inc.
[{"type":"text","content":"\n\nRecord quarterly revenue of $76.9 million, up 18% QoQ and up 619% YoY\n\n\n\nMultiple secular trends, design wins across diverse AI platform architectures, and increasing average dollar content position the Company to outpace industry growth\n\n\n\n \n\n\n SANTA CLARA, Calif.--(BUSINESS WIRE)--\nAstera Labs, Inc. (Nasdaq: ALAB), a global leader in semiconductor-based connectivity solutions for cloud and AI infrastructure, today announced preliminary financial results for the second quarter of fiscal 2024, ended June 30, 2024.\n\n\n“Astera Labs achieved robust top-line growth during Q2, and we expect even stronger sequential growth in the September quarter, fueled by the production ramp of new AI platforms at hyperscalers featuring both third-party and internally developed accelerators,” said Jitendra Mohan, Astera Labs’ Chief Executive Officer. “Sustained secular trends in AI adoption, design wins across diverse AI platform architectures, and increasing average dollar content in next generation GPU-based AI platforms give us confidence in our ability to outperform industry growth rates. Our close collaboration with hyperscalers and AI platform providers continues to yield valuable insights, unlocking new product and business opportunities for our Intelligent Connectivity Platform, which we believe will drive strong, long-term growth.”\n\n\nSecond Quarter of Fiscal 2024 Financial Highlights\n\n\nGAAP Financial Results:\n\n\n\nRevenue of $76.9 million, up 18% sequentially and up 619% year-over-year\n\n\n\nGAAP gross margin of 77.9%\n\n\n\nGAAP operating loss of $24.3 million\n\n\n\nGAAP net loss of $7.5 million\n\n\n\nGAAP diluted net loss per share of $0.05\n\n\n\nNon-GAAP Financial Results (excluding the impact of stock-based compensation expense and the income tax effects of non-GAAP adjustments):\n\n\n\nNon-GAAP gross margin of 78.0%\n\n\n\nNon-GAAP operating income of $18.7 million\n\n\n\nNon-GAAP net income of $22.2 million\n\n\n\nNon-GAAP diluted earnings per share of $0.13\n\n\n\nSecond Quarter of Fiscal 2024 and Recent Business Highlights\n\n\n\nDemonstrated the industry’s first end-to-end PCIe optical connectivity link to provide extended reach for larger, disaggregated GPU clusters. PCIe over optics expands Astera Labs’ widely deployed and field-tested Aries family of Smart DSP retimers and Smart Cable Modules (SCMs...