Astera Labs announced record Q3 FY2024 revenue of $113.1 million, up 47% QoQ and 206% YoY. The company reported a GAAP net loss of $7.6 million and non-GAAP net income of $40.3 million. Gross margin was 77.7% GAAP and 77.8% non-GAAP.Astera Labs introduced its new Scorpio Smart Fabric Switch portfolio for AI infrastructure and joined the Ultra Accelerator Link Consortium. The company sees expanding market opportunities with higher dollar content in AI platforms. For Q4 FY2024, Astera Labs expects revenue between $126-130 million and non-GAAP EPS of $0.25-$0.26.CEO Jitendra Mohan stated the business has entered a new growth phase with multiple product families ramping across AI platforms. The company aims to cement its position in AI connectivity infrastructure and unlock additional multi-year growth trajectories.

Astera Labs announced record Q3 FY2024 revenue of $113.1 million, up 47% QoQ and 206% YoY. The company reported a GAAP net loss of $7.6 million and non-GAAP net income of $40.3 million. Gross margin was 77.7% GAAP and 77.8% non-GAAP.Astera Labs introduced its new Scorpio Smart Fabric Switch portfolio for AI infrastructure and joined the Ultra Accelerator Link Consortium. The company sees expanding market opportunities with higher dollar content in AI platforms. For Q4 FY2024, Astera Labs expects revenue between $126-130 million and non-GAAP EPS of $0.25-$0.26.CEO Jitendra Mohan stated the business has entered a new growth phase with multiple product families ramping across AI platforms. The company aims to cement its position in AI connectivity infrastructure and unlock additional multi-year growth trajectories.