Astera Labs stock posts record Q3 revenue as Scorpio takes lead

Astera Labs reported record third-quarter revenue on Tuesday, November 3, 2026, as Scorpio fabric switches became the company's largest product family. The company said in its financial release that revenue for the quarter ended September 30 rose to 584.9 million US dollars, an increase of 49 percent from the second quarter and 154 percent from a year earlier.

Scorpio Becomes The Growth Engine

Volume production of the Scorpio X-Series 320-lane fabric switch drove the shift in product mix. Astera Labs said Scorpio revenue exceeded that of its P-Series during the quarter, while the combined Scorpio family surpassed a 1 billion US dollar annualized revenue rate. Chief Executive Jitendra Mohan said growth was broad-based across the company's AI fabric and signal-conditioning portfolio.

GAAP gross margin was 72.3 percent, compared with 73.3 percent in the second quarter. GAAP operating income reached 179.1 million US dollars and net income was 182.9 million US dollars, or 0.99 US dollars per diluted share. On a non-GAAP basis, which excludes items including stock-based compensation and acquisition-related costs, operating margin was 44.7 percent and diluted earnings per share was 1.32 US dollars.

Fourth-Quarter Outlook Stays Ambitious

Astera Labs expects fourth-quarter revenue of 730 million to 750 million US dollars for the period ending December 31. The midpoint would represent 27 percent sequential growth. The company forecasts GAAP diluted earnings per share of 1.13 to 1.17 US dollars and non-GAAP diluted earnings per share of 1.62 to 1.66 US dollars.

Management expects continued expansion of Scorpio X-Series and P-Series products across customers and platforms. Aries 7 products are scheduled to begin sampling with selected customers in the fourth quarter, while Orion rack reference and system designs are on track for availability through original-equipment manufacturers and original-design manufacturers from the first quarter of 2027.

Investors Watch Execution And Mix

The results reinforce Astera Labs' exposure to rising AI infrastructure spending, but the next test is execution across a broader customer and product base. Investors will likely focus on whether the Scorpio ramp remains strong while the company funds new connectivity, memory and rack-scale products. The margin outlook also matters as research and development spending expands.

Astera Labs stock traded at 199.25 euros on Lang & Schwarz at 13:11:52 CET on Wednesday, November 4, 2026. The real-time quote of Astera Labs stock provides the latest trading view.

US technology stocks remain sensitive to changes in AI infrastructure spending and semiconductor demand; current S&P 500 market reports provide the broader backdrop.

More news and analyses on Astera Labs stock will track the company's product ramps, customer adoption and quarterly outlook.