Astera Labs delivered exceptional Q3 2024 performance with revenue soaring 206% year-over-year to $113.1 million, primarily driven by a 197% increase in unit shipments of Aries products. Gross margin improved to 77.7%, while non-GAAP operating income reached $36.6 million compared to $0.7 million in Q3 2023.The company maintained strong operational execution with cash flow from operations of $97.0 million for the nine months ended September 30, 2024. The successful completion of its IPO in March 2024 generated net proceeds of $672.2 million, strengthening the balance sheet with cash and marketable securities of $886.8 million as of quarter-end.Research and development investments increased 146% year-over-year to $50.7 million as the company expanded its product development initiatives. Management remains focused on innovation in semiconductor-based connectivity solutions for cloud and AI infrastructure, with continued strong demand for its Intelligent Connectivity Platform products across major hyperscalers.

Astera Labs delivered exceptional Q3 2024 performance with revenue soaring 206% year-over-year to $113.1 million, primarily driven by a 197% increase in unit shipments of Aries products. Gross margin improved to 77.7%, while non-GAAP operating income reached $36.6 million compared to $0.7 million in Q3 2023.The company maintained strong operational execution with cash flow from operations of $97.0 million for the nine months ended September 30, 2024. The successful completion of its IPO in March 2024 generated net proceeds of $672.2 million, strengthening the balance sheet with cash and marketable securities of $886.8 million as of quarter-end.Research and development investments increased 146% year-over-year to $50.7 million as the company expanded its product development initiatives. Management remains focused on innovation in semiconductor-based connectivity solutions for cloud and AI infrastructure, with continued strong demand for its Intelligent Connectivity Platform products across major hyperscalers.