Filing Flows › Astera Labs (ALAB) › Q2 2026 › vs Q2 2025
Astera Labs (ALAB) Q2 2026 vs Q2 2025 (year over year)
Astera Labs's revenue rose $200M (+104%) from $192M in Q2 2025 to $392M in Q2 2026. Gross margin 73.3% against 75.8% (-2.6 pts).
Astera Labs, Q2 2026: revenue $392M (+104% year over year), operating margin 22.7%, net earnings $153M, operating cash flow $87.7M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 73.3% | 75.8% | -2.6 pts |
| Operating margin | 22.7% | 20.7% | +2.0 pts |
| Net margin | 39.0% | 26.7% | +12.3 pts |
| Free cash flow margin | 17.1% | 69.5% | -52.3 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $392M | $192M | $200M | +104% |
| Gross profit | $288M | $146M | $142M | +98% |
| Cost of revenue | $105M | $46.4M | $58.5M | +126% |
| Other income, net | $13.6M | $10.9M | $2.7M | +25% |
| Operating profit | $89.2M | $39.8M | $49.5M | +124% |
| Operating expenses | $198M | $106M | $92.5M | +87% |
| Pre-tax earnings | $103M | $50.7M | $52.2M | +103% |
| Research & development | $136M | $66.7M | $69.2M | +104% |
| Sales & marketing | $26.4M | $18.6M | $7.8M | +42% |
| General & admin | $36.0M | $20.5M | $15.6M | +76% |
| Income tax benefit | $50.3M | $560K | $49.7M | 90× |
| Net earnings | $153M | $51.2M | $102M | +199% |
| Depreciation & amortization | $3.9M | $1.4M | $2.5M | +182% |
| Share-based compensation | $64.0M | $35.5M | $28.5M | +80% |
| Working capital & other | $133M | −$47.3M | $181M | — |
| Operating cash flow | $87.7M | $135M | −$47.7M | -35% |
| Free cash flow (OCF − capex) | $67.2M | $133M | −$66.1M | -50% |
| Capital expenditures | $20.5M | $2.0M | $18.4M | +912% |
Questions
How much did Astera Labs's revenue grow year over year in Q2 2026?
Astera Labs's revenue rose $200M (+104%) from $192M in Q2 2025 to $392M in Q2 2026. Gross margin 73.3% against 75.8% (-2.6 pts).