Astera Labs, Inc.ALAB

Astera Labs, Inc. Segments Disclosure

10-KFiled Feb 20, 20262 min read
Segment and Geographical Information
The Company’s chief operating decision maker (“CODM”) is its Chief Executive Officer (“CEO”), who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources. The CODM uses net income or loss to evaluate the return on assets and to determine investment opportunities related to product development, platform enhancements, and new technologies. The CODM also uses net income or loss to monitor budget versus actual results. The Company manages its operations and allocates resources as a single operating segment.
The following table includes the significant expense categories and amounts that are regularly provided to the CODM (in thousands):
Years Ended December 31,
202520242023
Revenue$852,525 $396,290 $115,794 
Less:
Cost of revenue207,26493,59135,967
Stock-based compensation (1)
158,910233,74310,655
Personnel-related expenses (1)
192,926117,36665,327
Other segment items (2)
74,29135,01130,102
Consolidated net income (loss)
$219,134 $(83,421)$(26,257)
(1) Stock-based compensation and personnel-related expenses presented in the above table are related to operating expenses and exclude amounts included in the cost of revenue.
(2) Other segment items included are primarily related to interest income, income tax (benefit) provision, engineering design related costs, and professional and consulting services fees.
Revenue by location is determined by the billing address of the Company’s customers, which includes the Company’s end customers’ manufacturing partners and the Company’s distributors.
The following table sets forth revenue by geographic area (in thousands):
Years Ended December 31,
202520242023
Singapore$276,989 $29,056 $— 
China256,276 72,672 5,540 
Taiwan247,448 269,935 72,174 
United States27,428 11,296 30,664 
Other44,384 13,331 7,416 
Total$852,525 $396,290 $115,794 
Property and equipment by geographic location is based on the location of the asset. As of December 31, 2025, 20% and 73% of the Company’s property and equipment was located in the United States and Taiwan, respectively. As of December 31, 2024, 17% and 82% of the Company’s property and equipment was located in the United States and Taiwan, respectively. As of December 31, 2023, substantially all of the Company’s property and equipment was located in the United States.

Historical Timeline

Fiscal YearFiled
2025Feb 20, 2026Showing above
2024Feb 14, 2025

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

Income TaxesEarnings Per ShareFair ValuePP&ELeasesCommitmentsStock CompensationNew StandardsPay vs Performance