Filing Flows › Astera Labs (ALAB) › Q2 2025
Astera Labs (ALAB) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
Astera Labs (ALAB) reported revenue of $192M for the second quarter 2025 (Q2 2025), +150% from a year earlier and +20% from the quarter before. Operating margin was 20.7%, net earnings $51.2M (26.7% of revenue).
Astera Labs, Q2 2025: revenue $192M (+150% year over year), operating margin 20.7%, net earnings $51.2M, operating cash flow $135M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $192M | +20% | +150% |
| Gross profit | $146M | +22% | +143% |
| Operating profit | $39.8M | +252% | — |
| Net earnings | $51.2M | +61% | — |
| Operating cash flow | $135M | 13× | +354% |
| Free cash flow | $133M | 22× | +328% |
What changed
Revenue was $191.9M in Q2 2025, up 150% year over year and up 20% from the previous quarter.
Gross margin was 75.8%, down 2.0 points from a year earlier. Operating profit was $39.8M, a 20.7% margin (up 52.4 points year over year). Operating expenses grew 26% against revenue growth of 150%. The fastest-growing cost line was Research & development (+66%). Net earnings were $51.2M. The effective tax rate was -1.1%. Non-operating items added $10.9M, 21% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $135.4M (up 354% year over year), 264% of net earnings. Non-cash charges added back $1.4M of depreciation and amortization and $35.5M of share-based compensation. Working capital and other items added $47.3M. Capital expenditures of $2.0M left free cash flow of $133.3M.
Questions
What was Astera Labs' revenue in the second quarter 2025?
Astera Labs (ALAB) reported revenue of $192M for the second quarter 2025 (Q2 2025), +150% from a year earlier and +20% from the quarter before.
Was Astera Labs profitable in the second quarter 2025?
Operating profit was $39.8M (20.7% of revenue) and net earnings $51.2M.
Source: Astera Labs 10-Q on SEC EDGAR.