Astera Labs first quarter 2026 revenue grew 93% to $308.4M, beating estimates while gross margins surpassed expectations.

Astera Labs reported first quarter revenue of $308.4 million, a 93% increase year-over-year, and non-GAAP EPS of $0.61, surpassing analyst expectations. The company also provided a strong revenue outlook for the second quarter, projecting sales between $355 million and $365 million.

Key Highlights

• Revenue grew 93% year-over-year to $308.4 million, exceeding consensus estimates of $292.5 million, driven by strong demand for its PCIe 6 portfolio.
• Non-GAAP gross margin was 76.4%, surpassing the 74.0% expected by analysts and easing near-term concerns about margin compression from product mix shifts.
• The company announced initial shipments of its new Scorpio X-Series 320-lane AI fabric switch, a key product for future growth.
• Management guided for second quarter revenue of $355 million to $365 million, indicating continued strong sequential growth.