[ALAB] Astera Labs: Q3 2026 earnings test the Scorpio X switch ramp

Astera Labs is a fabless semiconductor company that designs connectivity chips and modules for cloud and AI data centers, removing data bottlenecks between GPUs and other accelerators, CPUs, memory and networks[1]. Astera Labs Q3 2026 earnings, which will test its Scorpio X switch ramp, are scheduled for 2026-11-03 and will cover the Third quarter 2026 (three months ending September 30, 2026)[2]. In the latest disclosed quarter, the second quarter of 2026, revenue was $392.4 million, up 27% sequentially and 104% year over year, with a GAAP gross margin of 73.3% (73.7% non-GAAP), GAAP operating income of $89.2 million, a non-GAAP operating margin of 39.1% and non-GAAP diluted EPS of $0.80[3]. On August 4 the company guided third-quarter revenue to $540 million to $560 million, non-GAAP gross margin to about 72%, non-GAAP operating expenses to $156 million to $160 million and non-GAAP diluted EPS to $1.16 to $1.21[3]; on the earnings call, management added that the revenue midpoint implies roughly 40% sequential growth and that the non-GAAP operating margin should rise to about 43%[4].

Three things matter most in the coming third-quarter report. The first is whether the Scorpio X switch ramp delivers the revenue jump: the guidance midpoint is about $158 million above the second quarter, management attributes most of the increase to Scorpio X volume production and says Scorpio will become the largest product line in the third quarter, so whether revenue reaches the $550 million midpoint and whether a second Scorpio X customer begins revenue shipments will show whether the jump reflects broader platform adoption or one customer building inventory[4]. The second is the trade between gross margin and operating leverage: non-GAAP gross margin fell from 76.4% in the first quarter to 73.7% in the second, third-quarter guidance is about 72%, and the 10-Q attributes the year-over-year decline to a larger share of lower-margin hardware modules and the Amazon warrants[3][5]; only if gross margin holds near 72% and operating expenses stay within the guided range can the operating margin reach the roughly 43% management described. The third is whether profit turns into cash: at the end of June, accounts receivable were $192.5 million, equal to 49% of second-quarter revenue, and inventory was $113.8 million, including $98.69 million of work in process, both far above the end of 2025[5], so as revenue grows by another 40% or so, the pace of collections and the release of work in process will decide how much profit becomes operating cash flow.

Company Background and Business Structure

Astera Labs makes the data paths between chips inside AI servers faster and more reliable, and its products fall into four lines. Aries covers PCIe/CXL retimer chips and smart cable modules, a signal-conditioning business that was the company's original core; Taurus is an Ethernet smart cable module built on the company's own chips that extends high-speed signal reach between servers and switches; Leo is a CXL memory controller used to expand and share server memory; and Scorpio is a smart fabric switch, with the P-Series handling mixed traffic at PCIe 6 head nodes and the X-Series handling back-end GPU-to-GPU connectivity[1]. Every product embeds the COSMOS software suite for link diagnostics and fleet management, and the company had 756 full-time employees worldwide at the end of 2025[1]. The company does not break out revenue by product line, so progress in each line can only be tracked through management's descriptions on earnings calls.

The company's sales chain makes its direct customer base highly concentrated. The 10-K explains that end customers such as hyperscalers and server OEMs decide which chips are used, but the parties that place orders and are invoiced are mainly those end customers' manufacturing partners and distributors, with distributors focused on fulfillment and logistics[1]. Under a fabless model, TSMC fabricates all of the company's chips, ASE and Amkor assemble and test them, and a small number of other contractors supply modules, boards and substrates[1]. In 2025, five direct customers each accounted for more than 10% of revenue, at 20%, 20%, 17%, 16% and 11%[1]; in the second quarter of 2026, the top four direct customers accounted for 29%, 25%, 15% and 13%, about 82% combined[5].

By billing location, revenue comes mainly from Asia, and the Amazon warrants reduce revenue directly. In the second quarter of 2026, revenue billed to China was $152.7 million, Singapore $113.7 million, Taiwan $105.8 million and the United States only $5.53 million[5]. Amazon received a warrant in October 2022 to buy up to 1,484,230 shares at $20.34 per share, and on February 5, 2026 it signed a new agreement to buy up to 3,262,299 shares at $142.82 per share, with vesting tied to its purchases[1]. The fair value of these warrants is recognized as a reduction of revenue in proportion to related product sales; the reduction was $10.2 million in the second quarter, versus $1.8 million a year earlier[5].

Financial History and Current Position

Astera Labs more than doubled revenue in 2025 while gross margin slipped only slightly. Full-year revenue rose from $396.3 million in 2024 to $852.5 million, an increase of $456.2 million or 115%, which the 10-K attributes to higher unit shipments of Aries, Scorpio and Taurus and to higher average selling prices from a larger mix of hardware modules and Scorpio products[1]. Gross margin fell 70 basis points from 76.4% to 75.7%, mainly because more hardware modules shipped, while operating expenses rose 13%, including a $75.6 million increase in personnel costs as average headcount grew 75%[1]. Operating cash flow was $319.3 million in 2025, up from $136.7 million in 2024, driven mainly by a $302.6 million increase in net income; capital expenditure was $37.54 million, and cash, cash equivalents and marketable securities totaled about $1.2 billion at year-end[1].

Revenue kept accelerating in the first two quarters of 2026, and operating margin widened with scale. First-quarter revenue was $308.4 million, up 14% sequentially and 93% year over year[6], with a GAAP gross margin of 76.3% (74.9% a year earlier) and GAAP operating income of $61.8 million ($11.3 million a year earlier)[7]. Second-quarter revenue was $392.4 million; research and development, sales and marketing, and general and administrative expenses were $135.9 million, $26.4 million and $36.0 million, for total operating expenses of $198.3 million, GAAP operating income of $89.2 million and a GAAP operating margin of 22.7%; non-GAAP operating income was $153.5 million, and the non-GAAP operating margin rose from 36.2% in the first quarter to 39.1%[3]. Second-quarter GAAP net income was $153.1 million, or $0.83 per diluted share, including a $50.26 million income tax benefit that does not reflect the operating trend[3].

First-half cash flow trailed profit, with the gap tied up mainly in receivables and inventory. In the first half of 2026, revenue was $700.8 million, net income was $233.4 million and operating cash flow was $162.3 million, up from $145.9 million a year earlier[3]; first-quarter operating cash flow was $74.6 million, implying about $87.7 million in the second quarter[7]. At the end of June, cash, cash equivalents and marketable securities were about $1.3 billion; accounts receivable were $192.5 million ($83.2 million at the end of 2025), inventory was $113.8 million ($58.98 million), prepaid expenses and other current assets were $92.69 million ($31.03 million), and purchase commitments totaled $181.7 million[5].

Operating Model

Astera Labs' revenue equals shipments across its product lines times their prices, minus the Amazon warrant reduction. Shipments depend on the output of cloud customers' AI and general-purpose server platforms, provided the company has first been selected at the design stage; prices rise with protocol generations (for example from PCIe 5 to PCIe 6) and product form (chip, module, switch), while pricing for the current generation of a product usually falls over time[1]. Management attributes third-quarter growth to the Scorpio X production ramp, continued strength in Aries PCIe 6 retimers, and pre-production shipments of 100 gig per lane Taurus solutions for 800 gig Ethernet[4]; PCIe 6 products rose from more than one third of total revenue in the first quarter to more than 50% in the second[4][6]. The lag in this chain is long: after a design win, revenue steps up only in the quarters after the customer's platform reaches volume production.

Gross profit equals revenue minus wafer, assembly-and-test and outsourced module costs, and operating profit then subtracts operating expenses dominated by research and development. Chips carry high gross margins and hardware modules carry low ones; management says Scorpio's average gross margin is broadly in line with the company's overall margin and that switch gross profit dollars will flow through to the bottom line as it scales, the warrant reduction lowers gross profit almost dollar for dollar, and management has set a long-term gross margin target of 70%[4]. Second-quarter R&D expense was $135.9 million, about 35% of revenue, up $69.2 million year over year, including a $32.7 million increase in personnel costs from 118% headcount growth and an $18.6 million increase in stock-based compensation[5]. Second-quarter non-GAAP operating expenses were about $135.8 million (non-GAAP gross profit of $289.3 million minus non-GAAP operating income of $153.5 million)[3], above the $128 million to $131 million range the company gave on its first-quarter call[6]; third-quarter guidance is $156 million to $160 million, corresponding to a non-GAAP operating margin of about 43%[4].

Operating cash flow equals net income plus non-cash items such as stock-based compensation and depreciation, minus increases in receivables, inventory and prepaid expenses, with capital expenditure only a small deduction. Under the fabless model, 2025 capital expenditure was just $37.54 million[1], so cash swings come mainly from working capital. Between the end of 2025 and the end of June 2026, accounts receivable rose by about $109 million and inventory by about $54.8 million[5], so first-half net income of $233.4 million turned into only $162.3 million of operating cash flow[3]. The lag here is roughly one quarter: when revenue steps up, receivables build first, wafers started for next quarter's production sit in work in process, and cash catches up with profit only when collections are normal.

Industry and Competitive Position

Astera Labs operates in AI rack interconnect, a fast-growing market with many competitors. The 10-K names Broadcom, Credo, Marvell, Microchip, Montage Technology, Parade Technologies and Rambus as its principal competitors[1]. The company's strengths come from a product range spanning PCIe retiming, Ethernet cable modules, memory control and fabric switches, all using the same COSMOS software to improve uptime across customer fleets[1]; in the second quarter it launched what it called the industry's first 200 gig per lane smart retimers and redrivers for next-generation Ethernet and UA-Link connectivity, which it said doubles the Taurus addressable market to more than $4 billion[4]. Leo won a new design at a U.S. hyperscaler in the second quarter, but volume shipments to two U.S. hyperscalers will not start until 2027, and Leo revenue is currently minimal[4].

The company's weaknesses, and the limits of any comparison, are just as clear. Customers are highly concentrated, all chips depend on a single foundry in TSMC, and the 10-K warns that pricing for existing products usually declines over time, which can weigh on revenue and gross margin[1]; on the first-quarter call, management said supply was in place through year-end and that 2027 capacity was still being worked out with the supply chain[6]. Because the company does not disclose revenue, gross margin or shipments by product, and its direct customers are mostly contract manufacturers, the available material cannot compare Astera's share or pricing with Broadcom or other rivals product by product, so its competitive position can only be judged indirectly from design wins, product timing and overall gross margin.

Core Debates

Can the Scorpio X production ramp deliver the guided roughly 40% sequential revenue jump and make fabric switches Astera Labs’ largest product line?

The third quarter is the first real test of Astera Labs' shift from retimer supplier to AI rack switch supplier. The $550 million revenue guidance midpoint is about $158 million above second-quarter revenue of $392.4 million[3], and management attributes most of the increase to Scorpio X volume production while confirming that Scorpio will become the company's largest product line this quarter, one quarter earlier than originally planned[4]. Revenue in this quarter also sets the base for the second half of 2026.

Current evidence shows Scorpio X running ahead of plan, but with only one customer in volume production. Second-quarter revenue was $392.4 million, up 104% year over year[3]; on the call, management said Scorpio X began initial production shipments across multiple radix configurations in the second quarter, when Scorpio was not yet the largest product line, and PCIe 6 products rose from more than one third of revenue in the first quarter to more than 50%[4][6]. In the Q&A, management said the lead customer would ramp to high-volume production in the third quarter and that Scorpio X revenue would surpass Scorpio P this quarter; several other customers have begun pre-production shipments, and revenue shipments to additional customers are expected by the end of 2026[4]. As a year-over-year reference, the company's November 4, 2025 earnings release reported third-quarter 2025 revenue of $230.6 million.

The path from switch adoption to revenue is clear, but the jump has another possible explanation. A lead hyperscaler's AI racks use Scorpio X for GPU-to-GPU scale-up connectivity, the customer's contract manufacturers order in line with rack output, and chips ship after TSMC fabrication and ASE and Amkor assembly and test[1]; Astera's switch content per accelerator rises, total revenue steps up sequentially, operating expenses are spread over more revenue, and operating profit rises. The alternative is that the jump is driven mainly by one lead customer's rack schedule: in the second quarter, the largest direct customer accounted for 29% of revenue and the second largest for 25%[5], and if additional customers do not begin revenue shipments by year-end, the third-quarter jump looks more like concentrated inventory building by one customer than broad platform adoption. Because the company does not disclose revenue by product, the financial statements alone cannot settle this yet.

The report needs to answer three questions together to rule out the single-customer explanation. Readers should check whether revenue falls within $540 million to $560 million and reaches the $550 million midpoint, whether management confirms that Scorpio has become the largest product line and that Scorpio X has overtaken Scorpio P, and whether a second Scorpio X customer has begun revenue shipments. If revenue comes in below $540 million because of a lead-customer rack delay, or if revenue shipments to new customers slip beyond 2027, the current view of Scorpio X as a platform-level ramp would weaken.

As fabric switches and hardware modules scale, how far will Astera Labs’ gross margin fall, and can operating leverage offset it?

How far gross margin falls will determine the quality of this growth. The company's gross margin has long been above 75% and was 75.7% in 2025[1]; non-GAAP gross margin fell to 73.7% in the second quarter of 2026, third-quarter guidance is about 72%[3], and management has set a long-term target of 70%[4]. At the $550 million third-quarter revenue midpoint, each percentage point of gross margin is worth about $5.5 million of gross profit, so whether the operating margin rises to the guided 43% or so is the key test of whether doubling revenue brings proportionate profit.

The company attributes the margin decline to product mix and the warrants, and stresses that switches themselves are not the source of dilution. The 10-Q shows second-quarter GAAP gross margin falling 250 basis points from 75.8% a year earlier to 73.3%, mainly because of a shift toward lower-margin hardware modules and the impact of the warrants; the warrant revenue reduction rose from $1.8 million a year earlier to $10.2 million, about 2.6% of quarterly revenue[5]. Non-GAAP gross margin fell from 76.4% in the first quarter to 73.7% in the second, while the non-GAAP operating margin was 39.1% (22.7% GAAP)[3]; management says Scorpio's average gross margin is broadly in line with the company's overall level and that gross profit dollars flow through to earnings[4]. The company's November 4, 2025 earnings release showed a non-GAAP gross margin of 76.4% and a non-GAAP operating margin of 41.7% for the third quarter of 2025, used here only as a reference point.

The financial transmission is a lower gross margin alongside a higher operating margin, but pricing and spending growth could narrow that path. A larger share of switches and Aries and Taurus hardware modules, plus Amazon warrants that reduce revenue in line with purchases, pulls gross margin down; as long as revenue grows much faster than operating expenses, the non-GAAP operating margin still rises. The alternative is that Scorpio X, a high-priced switch, is trading price for share in its early ramp, so part of the margin decline comes from pricing rather than mix alone; meanwhile, second-quarter non-GAAP operating expenses of about $135.8 million[3] exceeded the top of the $128 million to $131 million range given on the first-quarter call[6], suggesting spending could also outpace revenue.

Three third-quarter numbers can test whether the decline is only mix dilution. Readers should check whether non-GAAP gross margin holds near 72% and how the company splits the effects of mix and pricing; whether the warrant revenue reduction keeps rising as a share of revenue; and whether non-GAAP operating expenses stay within $156 million to $160 million with the operating margin reaching about 43%. If gross margin falls below 71% and is attributed to Scorpio pricing, or if operating expenses again exceed the top of guidance and the operating margin fails to expand, the view that operating leverage can offset margin dilution would be falsified.

As revenue jumps, can Astera Labs turn profit into cash rather than tying it up in receivables from a few contract manufacturers and in work-in-process inventory?

For a fabless company with little capital spending, working capital largely decides whether profit becomes cash. Capital expenditure was only $37.54 million in 2025[1]; by the end of June 2026, accounts receivable were $192.5 million, 2.3 times the end-2025 level, inventory had nearly doubled, and the top four direct customers accounted for about 82% of second-quarter revenue[5]. If third-quarter revenue grows by roughly another 40%, the pace of collections and inventory building will determine how much of the new profit lands as cash.

First-half operating cash flow grew year over year, but receivables and work in process built up much faster than revenue. First-half operating cash flow was $162.3 million, up from $145.9 million a year earlier[3]; subtracting the first quarter's $74.6 million leaves about $87.7 million for the second quarter[7], compared with $319.3 million for all of 2025[1]. Period-end receivables as a share of quarterly revenue rose from about 31% at the end of 2025 (receivables of $83.2 million) to 44% at the end of March ($134.8 million against revenue of $308.4 million)[7] and 49% at the end of June ($192.5 million against $392.4 million)[5]. June-end inventory was $113.8 million, with work in process up from $35.75 million at the end of 2025 to $98.69 million while finished goods fell from $23.14 million to $15.04 million[5], consistent with the company's account of building inventory for the Scorpio X ramp.

Cash conversion should follow a tie-up-then-release pattern, but longer receivables have another possible explanation. When revenue steps up, the company invoices a few contract manufacturers and builds receivables, while wafers started at TSMC and assembly partners for next quarter's production become work in process; working capital absorbs cash and operating cash flow lags net income, and when collections are normal, cash grows with profit. The alternative is that receivables are lengthening because shipments are concentrated on one contract manufacturer with longer payment terms, not just because invoices bunch at quarter-end; the 10-Q notes that end customers shift production among manufacturing partners, so direct-customer percentages fluctuate[5], which means customer shares alone cannot distinguish the two cases.

The third-quarter balance sheet and cash flow statement can test this directly. Readers should check whether nine-month operating cash flow exceeds $280 million, whether period-end receivables fall back below 45% of quarterly revenue, and whether work in process is released as Scorpio X ships without finished goods piling up. If receivables exceed 55% of revenue as collections slow, or if inventory grows faster than revenue while finished goods rise, the "ramp inventory only" explanation would weaken.

Risks and Falsifiers

The first risk is that single-foundry and geopolitical exposure could directly interrupt shipments. TSMC fabricates all of the company's chips, and assembly, test and module outsourcing are also concentrated in a few partners[1]; second-quarter revenue billed to China was $152.7 million, about 39% of the quarter[5], so if U.S. export controls on China reached contract manufacturers invoiced in China, those shipments would need to be rerouted, while a foundry disruption would stop shipments outright, hitting revenue and gross profit. If third-quarter revenue lands within guidance and the company does not mention supply or export license limits, this risk did not materialize in the quarter.

The second risk is the schedule of a single lead customer. Only one customer is in Scorpio X volume production, and most of the roughly $158 million sequential increase at the third-quarter guidance midpoint comes from it[4]; if that customer's platform is delayed or its architecture changes, most of the increase would move out of the quarter, directly affecting revenue and operating profit. If third-quarter revenue is at least $550 million and management confirms that new customers have begun revenue shipments, this concern would ease considerably.

The third risk is price erosion across product generations. The 10-K warns that pricing for existing products usually declines over time, which can weigh on revenue and gross margin[1]; outside research also notes that the move from PCIe 6 to PCIe 7 shortens each generation's premium-pricing window[8], while a rising share of switches and modules dilutes gross margin at the same time. At the $550 million third-quarter revenue midpoint, each percentage point of gross margin is worth about $5.5 million of gross profit; if third-quarter non-GAAP gross margin is at least 72% and the company does not mention pricing pressure, this risk did not show up in the quarter.

The fourth risk is customer concentration and contract-manufacturer credit. The top four direct customers accounted for about 82% of second-quarter revenue and the largest for 29%[5], which at the third-quarter guidance midpoint corresponds to about $160 million of quarterly revenue; revenue is billed mainly in China, Singapore and Taiwan, and June-end receivables had reached $192.5 million, so a payment delay at any one contract manufacturer or an order pause by an end customer would hit both quarterly revenue and collections. If period-end receivables are no more than 45% of third-quarter revenue and nine-month operating cash flow is at least $280 million, this risk has not shown up in cash.

What to Watch Next

Each item below maps to one of the three core debates and can be checked directly against the third-quarter report and call.

• Scorpio X ramp, total revenue: the second-quarter base is $392.4 million, up 27% sequentially. Watch whether revenue lands within $540 million to $560 million and reaches the $550 million midpoint; revenue below $540 million because of a lead-customer rack delay would weaken the case.
• Scorpio X ramp, product-line status: Scorpio X was in initial production in the second quarter and Scorpio was not yet the largest line. Management confirmation that Scorpio is now the largest line and that X has overtaken P would support the case.
• Scorpio X ramp, new customers: one customer is in volume production and several are in pre-production. A second customer starting revenue shipments supports the case; a slip beyond 2027 weakens it.
• Gross margin and operating leverage, non-GAAP gross margin: 73.7% in the second quarter (76.4% in the first). Watch whether it holds near 72% and how mix and pricing are split; a reading below 71% attributed to Scorpio pricing would falsify the mix-only view.
• Gross margin and operating leverage, warrant revenue reduction: $10.2 million in the second quarter, about 2.6% of revenue. A clearly larger share would deepen the dilution.
• Gross margin and operating leverage, non-GAAP operating expenses and margin: about $135.8 million and 39.1% in the second quarter. Watch for spending within $156 million to $160 million and a margin near 43%; spending above the range with no margin expansion would falsify the leverage view.
• Cash conversion, nine-month operating cash flow: $162.3 million in the first half. Below $280 million would weaken the case.
• Cash conversion, receivables to quarterly revenue: 49% at the end of June. A return below 45% supports the case; above 55% falsifies it.
• Cash conversion, inventory mix: $113.8 million of inventory, including $98.69 million of work in process. Inventory growing faster than revenue with rising finished goods would weaken the case.

Conclusion

Astera Labs' growth is driven by AI platform design wins followed by rack shipments, and the third quarter will test whether that momentum shows up in revenue, margins and cash at the same time. Revenue rose from $396.3 million in 2024 to $852.5 million in 2025[1], second-quarter 2026 revenue alone reached $392.4 million, non-GAAP gross margin fell to 73.7% and the operating margin rose to 39.1%[3], and cash and marketable securities were about $1.3 billion at the end of June, but receivables had climbed to 49% of quarterly revenue[5]. The central unresolved relationship is whether the Scorpio X ramp reflects platform adoption across several customers or concentrated inventory building by one lead customer, and whether operating leverage and collections can make up for the gross margin given up.

Between the second-quarter release and this report, the only independent analysis available in full was an article by TIKR writer Rexielyn Diaz, last updated October 22[8]. Diaz sees Astera as one of the best-executing AI chip companies today and says third-quarter guidance came in well above what the market had previously assumed; in her view, revenue near $550 million with gross margin around 72% would confirm the Scorpio story, while a shortfall would test the market's patience quickly[8]. She also notes that switch and module growth will push gross margin down, that the move from PCIe 6 to PCIe 7 shortens each product's window and that insiders have been selling, and she treats concentration as the risk to watch most, writing that "one hyperscaler pausing orders could dent a quarter badly"[8]. Her tests broadly match the watch points for the first and second core debates, and her emphasis on concentration corresponds to the fourth risk; because this was the only independent analysis readable in full during the period, with the rest mostly stock-price news and roundups of views, there is no way yet to compare disagreements across institutions, and her article should be treated as one outside interpretation, not as fact or a majority view.

If third-quarter revenue reaches the $550 million midpoint, Scorpio becomes the largest product line and a second Scorpio X revenue customer appears, while non-GAAP gross margin holds near 72%, the operating margin rises to about 43%, receivables fall back below 45% of revenue and nine-month operating cash flow exceeds $280 million, the current view of Astera as a company moving from retimers to a switch platform would strengthen markedly. Conversely, if revenue falls below $540 million because of a lead-customer rack delay, gross margin drops below 71% and is attributed to pricing, or receivables rise above 55% of revenue while inventory outgrows revenue, that view would weaken, and the growth would look more like the product of one customer's schedule and working-capital build.

Sources

[1] ALAB FY2025 10-K filed 2026-02-20 · 2026-02-20 · 10-K · https://www.sec.gov/Archives/edgar/data/1736297/000173629726000010/alab-20251231.htm

[2] ALAB earnings calendar updated 2026-10-31 · 2026-10-31 · Drillr earnings calendar

[3] ALAB Q2 2026 earnings release (8-K Ex.99.1) 2026-08-04 · 2026-08-04 · 8-K · https://www.sec.gov/Archives/edgar/data/1736297/000173629726000033/q226exhibit991.htm

[4] ALAB Q2 2026 earnings call 2026-08-04 · 2026-08-04 · earnings-call · https://ir.asteralabs.com/

[5] ALAB Q2 2026 10-Q filed 2026-08-05 · 2026-08-05 · 10-Q · https://www.sec.gov/Archives/edgar/data/1736297/000173629726000035/alab-20260630.htm

[6] ALAB Q1 2026 earnings call 2026-05-05 · 2026-05-05 · earnings-call · https://ir.asteralabs.com/

[7] ALAB Q1 2026 10-Q filed 2026-05-06 · 2026-05-06 · 10-Q · https://www.sec.gov/Archives/edgar/data/1736297/000173629726000020/alab-20260331.htm

[8] TIKR view on Astera Labs 2026-10-22 · 2026-10-22 · TIKR · https://www.tikr.com/blog/astera-labs-gains-ahead-of-q3-as-scorpio-switches-set-up-a-40-sequential-jump