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Astera Labs (ALAB) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Astera Labs (ALAB) Q3 2026 earnings results →
Q3 2026 Revenue up 154% year over year to $585M · 31¢ of every $1 of revenue kept as net profit · operating margin 30.6%
Astera Labs made $585M in Q3 2026 (+154% Y/Y). Operating margin 30.6%, net earnings $183M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $584.9M in Q3 2026, up 154% year over year and up 49% from the previous quarter.
Gross margin was 72.3%, down 4.0 points from Q3 2025. Operating profit was $179.1M, a 30.6% margin (up 6.6 points year over year). Of the extra revenue versus Q3 2025, 35% reached operating profit, above the 24% margin then. Operating expenses grew 102% against revenue growth of 154%. The fastest-growing cost line was Research & development (+117%). Net earnings were $182.9M, up 101% year over year. The effective tax rate was 4.7%.
Operating cash flow was $179.2M (up 129% year over year), 98% of net earnings. Non-cash charges added back $5.0M of depreciation and amortization and $82.6M of share-based compensation. Working capital and other items used $91.4M. Capital expenditures of $45.3M left free cash flow of $133.9M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $585M | +154% | 30.6% | $183M | $179M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $392M | +104% | 22.7% | $153M | $87.7M |
| Q1 2026 | 10-Q | May 6, 2026 | $308M | +93% | 20.1% | $80.3M | $74.6M |
| Q4 2025 | 10-K | Feb 20, 2026 | $271M | +92% | 24.7% | $45.0M | $95.3M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $231M | +104% | 24.0% | $91.1M | $78.2M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $192M | +150% | 20.7% | $51.2M | $135M |
| Q1 2025 | 10-Q | May 7, 2025 | $159M | +144% | 7.1% | $31.8M | $10.5M |
Charts
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Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Astera Labs
Our mission is to innovate, design, and deliver semiconductor-based connectivity solutions that are purpose-built to unleash the full potential of cloud and AI infrastructure. Building on years of experience with a singular focus on addressing connectivity challenges in data-centric systems, we have developed and deployed our leading Intelligent Connectivity Platform built from the ground up for cloud and AI infrastructure. Our Intelligent Connectivity Platform comprises of semiconductor-based, high-speed, mixed-signal connectivity products that integrate a matrix of microcontrollers and sensors, and COSMOS, our software suite, which is embedded in our connectivity products and integrated into our customers’ systems.
In its own words, from its 10-K, filed Feb 20, 2026.
Astera Labs against its Semiconductors & Related Devices peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +154% against the peers' median +45%. Operating margin: 30.6% against the peers' median 40.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| ALAB Astera Labs | Q3 2026 | $585M | +154% | 30.6% |
| NVDA NVIDIA | Q2 FY27 | $96.2B | +106% | 66.2% |
| MU Micron Technology | Q4 FY26 | $54.2B | +379% | 80.7% |
| AVGO Broadcom | Q3 FY26 | $29.6B | +86% | 53.9% |
| INTC Intel | Q3 2026 | $16.5B | +21% | 15.3% |
| AMD Advanced Micro Devices | Q3 2026 | $13.4B | +45% | 21.2% |
| AMAT Applied Materials | Q3 FY26 | $9.1B | +25% | 33.7% |
| TXN Texas Instruments | Q3 2026 | $6.1B | +28% | 47.5% |
| ADI Analog Devices | Q3 FY26 | $4.0B | +40% | 40.1% |
Source: Astera Labs 10-Q on SEC EDGAR · CIK 1736297 · Semiconductors & Related Devices
Guidance and outlook
13F: who owns ALAB and who is buying
More on ALAB
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results