Astera Labs, Inc.

Listed Company

ALABCIK 0001736297NasdaqLarge AcceleratedSemiconductors & Related DevicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$852.52M

Net Income

$219.13M

Total Assets

$1.53B

Equity

$1.36B

Shares Out

170.21M

Op. Cash Flow

$319.31M

Business

Astera Labs, Inc. designs and delivers semiconductor-based connectivity solutions for cloud and AI infrastructure, focusing on addressing data, network, and memory bottlenecks. It offers high-speed mixed-signal connectivity products and an embedded COSMOS software suite across form factors including ICs, boards, and modules, with products such as Aries retimers and cable modules, Taurus Ethernet modules, Leo CXL memory controllers, and Scorpio fabric switches. Business activities are organized around its Intelligent Connectivity Platform product families and the COSMOS software suite. It sells directly to hyperscalers, AI accelerator vendors, and system OEMs and through distributors, with deployment in data centers globally.

Summary from filing dated 2025-02-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Revenue	853	396	116	80
Cost of revenue	207	94	36	21
Gross profit	645	303	80	59
Research and development	304	201	73	74
Sales and marketing	80	124	20	24
General and administrative	88	94	16	21
Total operating expenses	472	419	109	119
Operating income (loss)	173	−116	−29	−60
Interest income	45	34	7	3
Income (loss) before income taxes	218	−82	−23	−58
Income tax (benefit) provision	−981,000	2	3	764,000
Net income (loss)	219	−83	−26	−58
Basic (in dollars per share)	1.32	−0.64	−0.71	−1.71
Diluted (in dollars per share)	1.22	−0.64	−0.71	−1.71
Basic (in shares)	166	131	37	34
Diluted (in shares)	180	131	37	34
Unrealized gain on marketable securities, net of taxes	4	167,000	488,000	−229,000
Total comprehensive income (loss)	223	−83	−26	−59

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	168	80	45	—	—
Marketable securities	1,021	835	104	—	—
Accounts receivable, net	83	39	8	—	—
Inventory	59	43	24	—	—
Prepaid expenses and other current assets	31	17	4	—	—
Total current assets	1,362	1,013	186	—	—
Property and equipment, net	92	36	5	—	—
Other assets	78	6	6	—	—
Total assets	1,532	1,055	196	—	—
Accounts payable	42	27	6	—	—
Accrued expenses and other current liabilities	91	60	29	—	—
Total current liabilities	133	87	35	—	—
Other liabilities	35	3	4	—	—
Total liabilities	168	90	39	—	—
Commitments and contingencies (Note 8)	—	—	—	—	—
Common stock, $0.0001 par value; 1,000,000 shares authorized as of December 31, 2025 and 2024, respectively; 170,186 and 162,018 shares issued and outstanding as of December 31, 2025 and 2024, respectively	17,000	16,000	4,000	—	—
Additional paid-in capital	1,349	1,173	27	—	—
Accumulated other comprehensive income	4	426,000	259,000	—	—
Retained earnings (accumulated deficit)	10	−209	−125	—	—
Total stockholders equity	1,364	965	−98	−85	−40
Total liabilities and stockholders equity	1,532	1,055	196	—	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Stock-based compensation	160	235	11	30
Depreciation and amortization	7	3	2	—
Non-cash operating lease expense	3	2	1	1
Warrants contra revenue	6	1	805,000	343,000
Accretion of discounts on marketable securities	−8	−8	−2	−525,000
Other	−1	263,000	10	—
Accounts receivable, net	−44	−30	2	−6
Inventory	−13	−19	−6	−19
Prepaid expenses and other assets	−34	−13	−720,000	−1
Accounts payable	14	21	−4	2
Accrued expenses and other liabilities	16	31	−167,000	16
Operating lease liability	−5	−2	−1	−1
Net cash provided by (used in) operating activities	319	137	−13	−36
Purchases of property and equipment	−38	−34	−3	−4
Purchases of marketable securities	−858	−931	−126	−89
Sales and maturities of marketable securities	683	209	111	2
Payments for business combinations, net of cash acquired	−29	0	0	—
Other investment activities	−500,000	−1	0	0
Net cash used in investing activities	−241	−758	−18	−91
Proceeds from issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions	0	672	0	0
Payment of deferred offering costs	0	−5	−1	0
Proceeds from exercises of stock options	2	5	1	2
Proceeds from employee stock purchase plan	8	4	0	0
Tax withholding related to net share settlements of restricted stock units	0	−20	0	0
Repurchase of common stock upon termination	0	−1	−210,000	−313,000
Net cash provided by (used in) financing activities	10	656	−502,000	152
Net increase (decrease) in cash, cash equivalents, and restricted cash	88	35	−31	25

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