Astera Labs (NASDAQ: ALAB) Reports Record Q4FY24 Results with Revenue Growth, Projects Continued Growth in FY2025

February 10, 2025 07:24 PM PST | By Team Kalkine Media

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Astera Labs (NASDAQ: ALAB) Reports Record Q4FY24 Results with Revenue Growth, Projects Continued Growth in FY2025 — Image source: Shutterstock

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Highlights:

Q4 FY2024 revenue of $141.1M reflects 179% YoY growth, with strong profitability.

Astera Labs projects continued growth with Q1 FY2025 revenue guidance of $151-155M.

Full-year FY2024 revenue reached $396.3M, a 242% increase compared to the previous year.

Astera Labs (NASDAQ:ALAB), a leader in high-performance connectivity solutions for the semiconductor industry, has reported outstanding financial results for the fourth quarter (Q4) and full fiscal year 2024. The company achieved a record quarterly revenue of $141.1 million, reflecting an impressive 25% increase quarter-over-quarter (QoQ) and an even more remarkable 179% year-over-year (YoY) growth. For the full fiscal year 2024, Astera Labs posted revenue of $396.3 million, a staggering 242% growth compared to the previous year. This robust performance highlights the company’s rapid expansion and strong market demand for its products.

Astera Labs’ Q4 GAAP results were equally impressive, with a gross margin of 74.0% and a net income of $24.7 million, or $0.14 per diluted share. On a non-GAAP basis, the company reported even stronger results, with operating income of $48.4 million and net income of $66.5 million, or $0.37 per diluted share. These exceptional results reflect Astera Labs' ability to generate strong profitability while scaling its operations to meet rising demand.

The growth in Astera Labs' revenue was driven largely by its Aries PCIe Retimer products and Taurus Smart Cable Modules, both of which saw significant customer adoption during the quarter. The Aries PCIe Retimer products are designed to improve the performance and reliability of high-speed data transmission, while the Taurus Smart Cable Modules enable advanced connectivity solutions for data centers and other high-performance computing environments. The company anticipates that all four of its product families will contribute to revenue growth in 2025, positioning the company for another breakout year.

Looking ahead to the first quarter of fiscal year 2025 (Q1 FY2025), Astera Labs projects continued growth, with expected revenue between $151 million and $155 million. The company also expects to maintain a strong GAAP gross margin of approximately 74%. This guidance indicates that Astera Labs is well-positioned to continue its upward trajectory in the coming months, with its innovative products continuing to drive customer demand across a variety of industries.

Despite the strong revenue growth, Astera Labs did experience some challenges in FY2024. The company reported a full-year GAAP operating loss of $116.1 million and a GAAP net loss of $83.4 million, with a GAAP operating margin of -29.3%. These losses were primarily driven by the significant investments the company made in scaling its operations and expanding its product portfolio to support future growth. However, Astera Labs remains focused on long-term profitability and is confident that its ongoing investments will lead to continued market success.

In summary, Astera Labs has delivered exceptional financial results for Q4 FY2024 and the full fiscal year, positioning itself as a leader in the semiconductor industry. The company’s strong product portfolio, impressive revenue growth, and positive outlook for FY2025 all point to a bright future. With continued investment in innovative solutions and a strong market presence, Astera Labs is well on its way to achieving further success in the years ahead.

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