Astera Labs reported Q3 revenue of $584.9M, exceeding analyst projections of $551M. The connectivity chipmaker’s adjusted earnings per share reached $1.32, compared to an estimated $1.19, representing a 169% increase year-over-year. Looking ahead, the company provided Q4 revenue guidance between $730M and $750M and adjusted EPS of $1.62 to $1.66, both of which surpass market expectations of $656M and $1.42.
Non-GAAP operating income for the quarter was $261.6M, beating the $233M expected by analysts, with non-GAAP gross margins at 72.4%. Astera Labs also highlighted growth in its product portfolio, noting that its Scorpio 320-lane fabric switch is now its largest product family and that the Leo X-Series offers up to 62% faster time-to-first-token performance.