Astera Labs stock sets Q4 growth target after record Q3

Astera Labs reported record third-quarter revenue on Tuesday, November 3, 2026, as the Scorpio fabric-switch portfolio reached high-volume production. In its financial results release, the company said revenue for the quarter ended September 30 rose 49 percent from the previous quarter and 154 percent from a year earlier to 584.9 million US dollars.

Scorpio drives a broader platform

Chief Executive Officer Jitendra Mohan said growth was broad-based across Astera Labs' AI fabric and signal-conditioning portfolios. Scorpio became the largest product family by revenue, led by the Scorpio X-Series 320-lane fabric switch, while X-Series revenue exceeded the P-Series during the quarter.

The quarter also brought portfolio expansion. Astera Labs introduced Aries 7 for optical and copper signal conditioning, expanded its Leo Smart Memory Controller family and unveiled Orion, a compute-agnostic rack-scale reference architecture. The company said Orion rack reference and system designs are on track to become available through original equipment and design manufacturers beginning in the first quarter of 2027.

Margins and guidance remain central

GAAP gross margin was 72.3 percent, operating income was 179.1 million US dollars and net income was 182.9 million US dollars. Diluted GAAP earnings were 0.99 US dollars per share. On a non-GAAP basis, operating margin reached 44.7 percent and diluted earnings were 1.32 US dollars per share. The adjusted presentation excludes items including stock-based compensation and acquisition-related costs, so investors should distinguish it from the GAAP result.

For the fourth quarter ending December 31, Astera Labs guided to revenue of 730 million to 750 million US dollars and GAAP diluted earnings of 1.13 to 1.17 US dollars per share. The midpoint of the revenue range implies another sequential step-up. Non-GAAP diluted earnings are expected at 1.62 to 1.66 US dollars per share, with adjusted operating expenses forecast at 194 million to 200 million US dollars.

Astera Labs stock traded at 173.75 euros on Lang & Schwarz at 12:43 CET on Monday, November 9, 2026. Investors are likely to focus next on whether Scorpio demand broadens across customers and platforms while new Aries, Leo and Orion offerings convert design activity into production.

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More news and analyses on Astera Labs stock will track the next guidance update, product ramps and evidence of customer diversification.