Astera Labs (ALAB) financial statements
Astera Labs reported revenue of $853M in fiscal 2025, up 120.2% a year over 3 years.
Net income was $219M and the operating margin 20.3%, against -75.4% in 2022.
Free cash flow was $282M.
The diluted share count rose 425% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Astera Labs's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | $80M | $116M | $396M | $853M |
| Cost of revenue | $21M | $36M | $94M | $207M |
| Gross profit | $59M | $80M | $303M | $645M |
| Research and development | $74M | $73M | $201M | $304M |
| Selling, general and admin | $45M | $36M | $218M | $168M |
| Operating income | -$60M | -$29M | -$116M | $173M |
| Pre-tax income | -$58M | -$23M | -$82M | $218M |
| Income tax | $764,000 | $3M | $2M | -$981,000 |
| Net income | -$58M | -$26M | -$83M | $219M |
| EPS (diluted) | -$1.71 | -$0.71 | -$0.64 | $1.22 |
| Diluted shares | 34M | 37M | 131M | 180M |
| Gross margin | 73.5% | 68.9% | 76.4% | 75.7% |
| Operating margin | -75.4% | -25.5% | -29.3% | 20.3% |
| Net margin | -73.0% | -22.7% | -21.1% | 25.7% |
Balance sheet
Fiscal years, from Astera Labs's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Cash and short-term investments | $76M | $149M | $914M | $1.2B |
| Receivables | — | $8M | $39M | $83M |
| Inventory | — | $24M | $43M | $59M |
| Total current assets | — | $186M | $1.0B | $1.4B |
| Property, plant and equipment | — | $5M | $36M | $92M |
| Goodwill | — | — | — | $19M |
| Total assets | — | $196M | $1.1B | $1.5B |
| Total current liabilities | — | $35M | $87M | $133M |
| Total liabilities | — | $39M | $90M | $168M |
| Shareholders' equity | -$85M | -$98M | $965M | $1.4B |
| Net debt | -$76M | -$45M | -$80M | -$168M |
Cash flow
Fiscal years, from Astera Labs's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating cash flow | -$36M | -$13M | $137M | $319M |
| Capital spending | $4M | $3M | $34M | $38M |
| Free cash flow | -$40M | -$15M | $102M | $282M |
| Stock-based compensation | $30M | $11M | $235M | $160M |
| Share buybacks (net) | -$313,000 | -$210,000 | -$1M | $0 |
| Free cash flow margin | -49.8% | -13.4% | 25.8% | 33.1% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for ALAB.
Open ALAB in InvestinglyQuestions
What was Astera Labs's revenue in 2025?
$853M in fiscal 2025, from its 10-K filing.
How much free cash flow does Astera Labs generate?
$282M in fiscal 2025 (operating cash flow minus capital spending).
From Astera Labs's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.