Astera Labs Financials
Astera Labs (ALAB) reported $852.5M in revenue for fiscal year 2025, up 115.1% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
A high-gross-margin business moved from equity-funded buildout to cash-backed profitability as scale finally covered R&D.
The move from a-29.3% operating margin in FY2024 to20.3% in FY2025 suggests fixed-cost absorption: the business did not need radically better unit economics to become profitable; it needed more volume against a cost base already built. Earnings quality was strong in that crossover year, with operating cash flow of$319M topping net income of$219M , so reported profit translated into cash rather than staying on the income statement.
A balance-sheet reset happened before profitability arrived: total liabilities were only
This is still a reinvestment-heavy model: R&D consumed
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Astera Labs's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Astera Labs scores 178.27, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($49.4B) relative to total liabilities ($168.2M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Astera Labs passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Astera Labs generates $1.46 in operating cash flow ($319.3M OCF vs $219.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Astera Labs generated $852.5M in revenue in fiscal year 2025. This represents an increase of 115.1% from the prior year.
Astera Labs's EBITDA was $180.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 259.6% from the prior year.
Astera Labs reported $219.1M in net income in fiscal year 2025. This represents an increase of 362.7% from the prior year.
Astera Labs earned $1.22 per diluted share (EPS) in fiscal year 2025. This represents an increase of 290.6% from the prior year.
Cash & Balance Sheet
Astera Labs generated $281.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 175.1% from the prior year.
Astera Labs held $167.6M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Astera Labs's gross margin was 75.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.7 percentage points from the prior year.
Astera Labs's operating margin was 20.3% in fiscal year 2025, reflecting core business profitability. This is up 49.6 percentage points from the prior year.
Astera Labs's net profit margin was 25.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 46.8 percentage points from the prior year.
Astera Labs's ROE was 16.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 24.7 percentage points from the prior year.
Capital Allocation
Astera Labs invested $304.0M in research and development in fiscal year 2025. This represents an increase of 51.4% from the prior year.
Astera Labs repurchased no shares in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Astera Labs invested $37.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 9.6% from the prior year.
ALAB Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|---|
| Revenue | $1.2B | $852.5M+115.1% | $396.3M+242.2% | $115.8M+45.0% | $79.9M |
| Cost of Revenue | $298.9M | $207.3M+121.5% | $93.6M+160.2% | $36.0M+69.7% | $21.2M |
| Gross Profit | $903.0M | $645.3M+113.2% | $302.7M+279.2% | $79.8M+36.0% | $58.7M |
| R&D Expenses | $434.3M | $304.0M+51.4% | $200.8M+173.6% | $73.4M-0.4% | $73.7M |
| SG&A Expenses | $107.6M | $88.1M-6.6% | $94.3M+492.0% | $15.9M-23.3% | $20.8M |
| Operating Income | $273.4M | $173.4M+249.4% | -$116.1M-293.5% | -$29.5M+51.0% | -$60.2M |
| Income Tax | -$47.5M | -$981K-159.7% | $1.6M-50.3% | $3.3M+333.1% | $764K |
| Net Income | $369.5M | $219.1M+362.7% | -$83.4M-217.7% | -$26.3M+55.0% | -$58.3M |
| EPS (Diluted) | — | $1.22+290.6% | -$0.64 | -$0.71+58.5% | -$1.71 |
Not reported in any period shown, so not listed: Interest Expense.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
ALAB Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|
| Total Assets | $1.5B+45.3% | $1.1B+437.2% | $196.3M | N/A |
| Current Assets | $1.4B+34.5% | $1.0B+445.2% | $185.8M | N/A |
| Cash & Equivalents | $167.6M+110.7% | $79.6M+76.4% | $45.1M-40.7% | $76.1M |
| Inventory | $59.0M+36.5% | $43.2M+79.4% | $24.1M | N/A |
| Accounts Receivable | $83.2M+114.4% | $38.8M+365.6% | $8.3M | N/A |
| Goodwill | $19.0M | N/A | N/A | N/A |
| Total Liabilities | $168.2M+87.5% | $89.7M-69.5% | $294.0M | N/A |
| Current Liabilities | $133.0M+53.7% | $86.5M+146.7% | $35.1M | N/A |
| Total Equity | $1.4B+41.3% | $964.8M+1087.5% | -$97.7M-14.5% | -$85.3M |
| Retained Earnings | $10.3M+105.0% | -$208.8M-66.5% | -$125.4M | N/A |
Not reported in any period shown, so not listed: Long-Term Debt.
ALAB Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|---|
| Operating Cash Flow | $335.7M | $319.3M+133.6% | $136.7M+1174.8% | -$12.7M+64.6% | -$35.9M |
| Capital Expenditures | $59.0M | $37.5M+9.6% | $34.2M+1140.3% | $2.8M-28.7% | $3.9M |
| Free Cash Flow | $276.7M | $281.8M+175.1% | $102.4M+761.8% | -$15.5M+61.1% | -$39.8M |
| Investing Cash Flow | -$399.4M | -$241.5M+68.1% | -$757.6M-4162.7% | -$17.8M+80.4% | -$90.6M |
| Financing Cash Flow | $11.8M | $9.8M-98.5% | $655.8M+130745.0% | -$502K-100.3% | $151.7M |
| Share Buybacks | N/A | $0-100.0% | $1.1M+407.6% | $210K-32.9% | $313K |
Not reported in any period shown, so not listed: Dividends Paid.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
ALAB Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|
| Gross Margin | 75.7%-0.7pp | 76.4%+7.4pp | 68.9%-4.5pp | 73.5% |
| Operating Margin | 20.3%+49.6pp | -29.3%-3.8pp | -25.5%+49.9pp | -75.4% |
| Net Margin | 25.7%+46.8pp | -21.1%+1.6pp | -22.7%+50.4pp | -73.0% |
| Return on Equity | 16.1%+24.7pp | -8.6% | N/A | N/A |
| Return on Assets | 14.3%+22.2pp | -7.9%+5.5pp | -13.4% | N/A |
| Current Ratio | 10.24-1.5x | 11.71+6.4x | 5.30 | N/A |
| Debt-to-Equity | 0.120.0x | 0.09 | N/A | N/A |
| FCF Margin | 33.1%+7.2pp | 25.9%+39.2pp | -13.4%+36.4pp | -49.8% |
Similar Companies
Where Astera Labs Ranks
Frequently Asked Questions
What is Astera Labs's annual revenue?
Astera Labs (ALAB) reported $852.5M in total revenue for fiscal year 2025. This represents a 115.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Astera Labs's revenue growing?
Astera Labs (ALAB) revenue grew by 115.1% year-over-year, from $396.3M to $852.5M in fiscal year 2025.
Is Astera Labs profitable?
Yes, Astera Labs (ALAB) reported a net income of $219.1M in fiscal year 2025, with a net profit margin of 25.7%.
What is Astera Labs's EBITDA?
Astera Labs (ALAB) had EBITDA of $180.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Astera Labs's gross margin?
Astera Labs (ALAB) had a gross margin of 75.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Astera Labs's operating margin?
Astera Labs (ALAB) had an operating margin of 20.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Astera Labs's net profit margin?
Astera Labs (ALAB) had a net profit margin of 25.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Astera Labs's return on equity (ROE)?
Astera Labs (ALAB) has a return on equity of 16.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Astera Labs's free cash flow?
Astera Labs (ALAB) generated $281.8M in free cash flow during fiscal year 2025. This represents a 175.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Astera Labs's operating cash flow?
Astera Labs (ALAB) generated $319.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Astera Labs's total assets?
Astera Labs (ALAB) had $1.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Astera Labs's capital expenditures?
Astera Labs (ALAB) invested $37.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Astera Labs spend on research and development?
Astera Labs (ALAB) invested $304.0M in research and development during fiscal year 2025.
What is Astera Labs's current ratio?
Astera Labs (ALAB) had a current ratio of 10.24 as of fiscal year 2025, which is generally considered healthy.
What is Astera Labs's debt-to-equity ratio?
Astera Labs (ALAB) had a debt-to-equity ratio of 0.12 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Astera Labs's return on assets (ROA)?
Astera Labs (ALAB) had a return on assets of 14.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Astera Labs's Altman Z-Score?
Astera Labs (ALAB) has an Altman Z-Score of 178.27, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Astera Labs's Piotroski F-Score?
Astera Labs (ALAB) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Astera Labs's earnings high quality?
Astera Labs (ALAB) has an earnings quality ratio of 1.46x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Astera Labs?
Astera Labs (ALAB) scores 74 out of 100 on our Financial Health Score, indicating strong standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.