Astera Labs stock shifts into Scorpio-led growth phase

Astera Labs reported record third-quarter revenue on Tuesday, November 3, 2026, as Scorpio fabric switches became the company's largest product family. The GlobeNewswire release carried by Yahoo Finance said revenue for the quarter ended September 30 reached 584.9 million US dollars, up 49 percent from the second quarter and 154 percent from a year earlier.

Scorpio Leads The Product Mix

Volume production of the Scorpio X-Series 320-lane fabric switch drove the change in mix. Scorpio revenue exceeded P-Series revenue, while the combined Scorpio family passed a 1 billion US dollar annualized revenue rate.

GAAP gross margin was 72.3 percent, down from 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. Non-GAAP operating margin was 44.7 percent and non-GAAP diluted earnings per share was 1.32 US dollars; these figures exclude items including stock-based compensation and acquisition-related costs.

Fourth-Quarter Outlook Remains Strong

Astera Labs expects fourth-quarter revenue of 730 million to 750 million US dollars for the period ending December 31. 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.

Aries 7 products are scheduled to begin sampling with selected customers in the fourth quarter. Orion rack reference and system designs remain on track for availability through OEM and ODM partners from the first quarter of 2027.

What Investors Watch Next

Execution now shifts to sustaining the Scorpio ramp across customers while Astera Labs expands its memory, signal-conditioning and rack-scale portfolio. The margin outlook will also matter as research and development spending rises.

Astera Labs stock traded at 199.50 euros on Lang & Schwarz at 16:04:02 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 shifts 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 product ramps, customer adoption and the quarterly outlook.