Astera Labs Reports Third Quarter 2026 Financial Results

• Reco d qua te ly eve ue of $584.9 millio , up 49% QoQ a d up 154% yea -ove -yea
• Sco pio™ fab ic switches became the compa y’s la gest p oduct family, led by volume p oductio of the Sco pio X-Se ies 320-la e fab ic switch
• Po tfolio expa ded ac oss memo y, optical a d coppe sig al co ditio i g, a d ack-scale AI platfo ms with Leo 2 a d Leo X-Se ies, A ies 7 a d O io

SAN JOSE, Calif., Nov. 03, 2026 (GLOBE NEWSWIRE) — Aste a Labs, I c. (Nasdaq: ALAB), a leade i semico ducto -based co ectivity solutio s fo ack-scale AI i f ast uctu e, today a ou ced fi a cial esults fo the thi d qua te of fiscal yea 2026, e ded Septembe 30, 2026.

“Aste a Labs delive ed outsta di g Q3 2026 esults, with eco d qua te ly eve ue of $584.9 millio , up 49% seque tially a d up 154% yea -ove -yea , with b oad-based g owth led by Sco pio, which amped to high-volume p oductio a d became ou la gest p oduct family by eve ue,” said Jite d a Moha , Aste a Labs’ Chief Executive Office . “Desig activity accele ated with wi s ac oss a b oad set of p og ams a d applicatio s at multiple custome s. We expa ded ou po tfolio with the i t oductio of A ies 7 fo optical a d coppe sig al co ditio i g, Leo 2 a d Leo X-Se ies fo AI a d ge e al-pu pose memo y expa sio , a d O io ack-scale efe e ce a chitectu e. The expa sio of ou i tellige t co ectivity platfo m a d ew desig wi s positio us to st o gly g ow ou dolla co te t pe accele ato a d fu the i c ease ou total ma ket oppo tu ity.”

Thi d Qua te of Fiscal 2026 Fi a cial HighlightsGAAP Fi a cial Results:  

• Reve ue of $584.9 millio , up 49% seque tially a d up 154% yea -ove -yea
• GAAP g oss ma gi of 72.3%
• GAAP ope ati g i come of $179.1 millio
• GAAP ope ati g ma gi of 30.6%
• GAAP et i come of $182.9 millio
• GAAP diluted et i come pe sha e of $0.99

No -GAAP Fi a cial Results ⁽¹⁾:

• No -GAAP g oss ma gi of 72.4%
• No -GAAP ope ati g i come of $261.6 millio
• No -GAAP ope ati g ma gi of 44.7%
• No -GAAP et i come of $243.4 millio
• No -GAAP diluted et i come pe sha e of $1.32

____________(1) See “Reco ciliatio of GAAP to No -GAAP Fi a cial Measu es” table i cluded below.

Q3 2026 a d Rece t Busi ess Highlights

• A ou ced A ies 7, the i dust y’s fi st a d b oadest PCIe^® 7 sig al co ditio i g po tfolio, spa i g Sma t Retime s, Sma t Red ive s, Sma t Cable Modules, Sma t Optical D ive s, a d Sma t Optical T a simpeda ce Amplifie s (TIAs). The expa ded po tfolio exte ds each f om ce timete s of PCB t ace to 50+ mete s ove optical cables spa i g multiple acks a d i cludes optical co ectivity solutio s pu pose-built fo ea -packaged optics (NPO) a d li ea pluggable optics (LPO) applicatio s. A ies 7 Sma t Retime s a d Sma t Red ive s suppo t the OCP Sig al Co ditio e Sta da d Footp i t, allowi g custome s to select diffe e t sig al co ditio e s without edesig i g the boa d. A ies 7 p oducts a e expected to begi sampli g i Q4 2026 to select hype scale, OEM, a d NPO custome s.
• U veiled O io , a compute-ag ostic ack-scale efe e ce a chitectu e that allows custome s to choose thei ow GPU a d CPU. O io comp ises six p oductio -g ade efe e ce desig s—spa i g ack, compute t ay, fab ic t ay, memo y t ay, li k boa d, a d compute boa d—a d its high- adix 320-la e PCIe switch fab ic is desig ed to scale f om 8 to 160 accele ato s pe pod while helpi g the same accele ato ext act mo e toke s pe seco d ac oss AI i fe e ce wo kloads. All desig s a e i teg ated with COSMOS Rack Ma age a d COSMOS Fab ic Ma age o chest atio softwa e fo ma ageme t, fleet-wide telemet y a d diag ostics. O io is desig ed p ima ily fo eocloud a d e te p ise custome s buildi g AI i fe e ce capacity, a d ack efe e ce a d system desig s a e o t ack fo availability th ough Aste a Labs’ OEM a d ODM pa t e s begi i g i Q1 2027.
• Expa ded the Leo Sma t Memo y Co t olle ™ family with th ee ew memo y co ectivity solutio s—Leo X-Se ies a d the Leo 2 E-Se ies a d P-Se ies—exte di g the po tfolio ac oss di ect fab ic-attached GPU memo y, CPU-attached expa sio , a d pooled memo y a chitectu es. Pai ed with Sco pio X-Se ies Fab ic Switches, Leo X-Se ies e ables fab ic-attached memo y fo lo g-co text, KV-cache-i te sive wo kloads, imp ovi g i fe e ce pe fo ma ce with up to 62% faste time-to-fi st-toke a d up to 22% mo e toke s pe seco d (as measu ed by the compa y’s i te al testi g). The ew Leo 2 E-Se ies a d P-Se ies suppo t CPU-attached DDR4 a d DDR5 memo y expa sio with PCIe^® 6 a d CXL^® 3.2 suppo t, a d double memo y ba dwidth a d capacity ve sus the p evious ge e atio .
• Showcased the expa ded A ies a d O io families at the 2026 Ope Compute P oject (OCP) Global Summit i Sa Jose, i cludi g a powe ed O io ack featu i g i te cha geable, p e-validated compute t ays with diffe e t CPU a d accele ato co figu atio s a d live demo st atio s of the Sco pio X-Se ies 320-la e Sma t Fab ic Switch with Hype cast™ a d I -Netwo k Compute, the Leo X-Se ies Sma t Memo y Co t olle , a d PCIe 7 coppe a d optical sig al co ditio i g.

Fou th Qua te of Fiscal 2026 Fi a cial OutlookBased o cu e t busi ess t e ds a d co ditio s, Aste a Labs estimates the followi g:

GAAP Fi a cial Outlook:

• Reve ue withi a a ge of $730 millio to $750 millio
• GAAP g oss ma gi of app oximately 72%
• GAAP ope ati g expe ses withi a a ge of app oximately $273 millio to $279 millio
• GAAP tax ate of app oximately 20%
• GAAP diluted et i come pe sha e of app oximately $1.13 to $1.17 o weighted-ave age diluted sha es outsta di g of app oximately 187 millio

No -GAAP Fi a cial Outlook⁽²⁾:

• No -GAAP g oss ma gi of app oximately 72%
• No -GAAP ope ati g expe ses withi a a ge of app oximately $194 millio to $200 millio
• No -GAAP tax ate of app oximately 12%
• No -GAAP diluted et i come pe sha e of app oximately $1.62 to $1.66 o weighted-ave age diluted sha es outsta di g of app oximately 187 millio

_____________(2) See “Reco ciliatio of GAAP to No -GAAP Outlook” table i cluded below.

Ea i gs Webcast a d Co fe e ce CallAste a Labs will host a co fe e ce call to eview its fi a cial esults fo the thi d qua te of 2026 a d to discuss its fi a cial outlook today at 1:30 p.m. Pacific Time. I te ested pa ties may joi the co fe e ce call by diali g 1-833-461-5787 a d usi g co fe e ce ID 751 181 378. The call will also be webcast a d ca be accessed at the Aste a Labs website at https://i .aste alabs.com/. The webcast will be eco ded a d available fo eplay o the compa y’s website fo the ext six mo ths.

Discussio of No -GAAP Fi a cial Measu esWe use ce tai o -GAAP fi a cial measu es, i cludi g those co ce i g ou fi a cial outlook, to suppleme t the pe fo ma ce measu es i ou co solidated fi a cial stateme ts, which a e p ese ted i acco da ce with GAAP. A eco ciliatio of these o -GAAP measu es to the closest GAAP measu es ca be fou d late i this elease. The timi g a d impact of a y adjustme ts to a ive at the co espo di g GAAP fi a cial measu es co ce i g ou fi a cial outlook a e i he e tly depe de t o futu e eve ts that a e typically u ce tai o that may be outside of ou co t ol. These o -GAAP fi a cial measu es i clude o -GAAP g oss p ofit, o -GAAP g oss ma gi , o -GAAP ope ati g expe ses, o -GAAP ope ati g i come, o -GAAP ope ati g ma gi , o -GAAP tax ate, o -GAAP et i come, a d o -GAAP diluted et i come pe sha e. We use these o -GAAP fi a cial measu es fo fi a cial a d ope atio al decisio -maki g a d as a mea s to assist us i evaluati g pe iod-to-pe iod compa iso s. By excludi g ce tai items that may ot be i dicative of ou ecu i g co e ope ati g esults, we believe that o -GAAP g oss p ofit, o -GAAP g oss ma gi , o -GAAP ope ati g expe ses, o -GAAP ope ati g i come, o -GAAP ope ati g ma gi , o -GAAP tax ate, o -GAAP et i come, a d o -GAAP diluted et i come pe sha e p ovide mea i gful suppleme tal i fo matio ega di g ou pe fo ma ce. Acco di gly, we believe these o -GAAP fi a cial measu es a e useful to i vesto s a d othe s because they allow fo additio al i fo matio with espect to fi a cial measu es used by ma ageme t i its fi a cial a d ope atio al decisio -maki g a d they may be used by ou i stitutio al i vesto s a d the a alyst commu ity to help them a alyze the health of ou busi ess. Howeve , the e a e a umbe of limitatio s elated to the use of o -GAAP fi a cial measu es, a d these o -GAAP measu es should be co side ed i additio to, ot as a substitute fo o i isolatio f om, ou fi a cial esults p epa ed i acco da ce with GAAP. Othe compa ies, i cludi g compa ies i ou i dust y, may calculate these o -GAAP fi a cial measu es diffe e tly o ot at all, which educes thei useful ess as compa ative measu es.

We adjust the followi g items f om o e o mo e of ou o -GAAP fi a cial measu es:

Stock-based compe satio expe se We exclude o -cash stock-based compe satio expe se f om ce tai of ou o -GAAP fi a cial measu es because we believe that excludi g this item p ovides mea i gful suppleme tal i fo matio ega di g ope atio al pe fo ma ce. I pa ticula , compa ies calculate o -cash stock-based compe satio expe se usi g a va iety of valuatio methodologies a d subjective assumptio s. Mo eove , stock-based compe satio expe se is a o -cash cha ge that ca va y sig ifica tly f om pe iod to pe iod fo easo s that a e u elated to ou co e ope ati g pe fo ma ce, a d the efo e excludi g this item p ovides i vesto s a d othe use s of ou fi a cial i fo matio with i fo matio that allows mea i gful compa iso s of ou busi ess pe fo ma ce ac oss pe iods.

Acquisitio – elated costsWe exclude acquisitio – elated costs i cu ed i co ectio with ou acquisitio s, which we ge e ally would ot have othe wise i cu ed i the pe iods p ese ted as pa t of ou co ti ui g ope atio s. Acquisitio – elated costs i clude ce tai i c eme tal expe ses i cu ed to effect a busi ess combi atio such as thi d-pa ty costs: adviso y, legal, accou ti g, valuatio , a d othe p ofessio al fees. We believe that p ovidi g the o -GAAP measu es excludi g these costs assists ou i vesto s because such costs a e ot eflective of ou o goi g ope ati g esults.

Othe We exclude othe adjustme ts, i cludi g o -cash fai value adjustme ts elated to equity i vestme ts without eadily dete mi able fai values. These i vestme ts a e measu ed at cost a d adjusted fo obse vable p ice cha ges o impai me t o a o ecu i g basis o ly upo the occu e ce of ce tai eve ts. Acco di gly, these adjustme ts a e ot i dicative of ou co e ope ati g pe fo ma ce. 

I come tax effectThis ep ese ts the impact of the o -GAAP adjustme ts o a afte -tax basis a d o e-off disc ete tax adjustme ts that a e u elated to ou co e ope ati g pe fo ma ce i co ectio with the p ese tatio of o -GAAP et i come a d o -GAAP diluted et i come pe sha e. This app oach is desig ed to e ha ce i vesto s’ ability to u de sta d the impact of ou o -GAAP tax expe se o ou cu e t ope atio s, p ovide imp oved modeli g accu acy, a d substa tially educe fluctuatio s caused by GAAP to o -GAAP adjustme ts.

Cautio a y Note Rega di g Fo wa d-Looki g Stateme tsThis p ess elease a d the accompa yi g o al p ese tatio co tai fo wa d-looki g stateme ts based o Aste a Labs’ cu e t expectatio s. The wo ds “accele ati g,” “adva ce,” “ahead,” “aim,” “a ticipate,” “begi i g,” “believe,” “built to,” “ca ,” “capabilities,” “comi g,” “comme ce,” “committed,” “co fide ce,” “co ti ue,” “could,” “delive ,” “desig ed,” “d ive,” “ea ly stages,” “e able,” “estimates,” “expa di g,” “expect,” “fo ecasti g,” “fo thcomi g,” “fo wa d,” “futu e,” “goal,” “goi g fo wa d,” “g owth,” “guida ce,” “i te d,” “i te est,” “jou ey,” “lo g-te m,” “look,” “may,” “missio ,” “mome tum,” “multi-yea ,” “ ext,” “o t ack,” “oppo tu ity,” “outlook,” “paths,” “pla ,” “poised,” “positio ,” “pote tial,” “p og essi g,” “p oject,” “p olife ate,” “p oposed,” “p ospects,” “p ovide,” “pu sui g,” “ amp,” “ ep ese t,” “ oadmap,” “should,” “st ategy,” “ta geted,” “t ack,” “t ajecto y,” “t e ds,” “upcomi g,” “upside,” “ultimately,” “vecto s,” “visio ,” “well positio ed,” “will,” “would,” a d simila ph ases as they elate to Aste a Labs, as well as a y efe e ces to futu e pe iods, a e i te ded to ide tify such fo wa d-looki g stateme ts. These fo wa d-looki g stateme ts eflect the cu e t views a d assumptio s of Aste a Labs as of Novembe 3, 2026, a d a e subject to va ious assumptio s, beliefs, isks a d u ce tai ties that could cause actual esults to diffe mate ially f om expectatio s. These fo wa d-looki g stateme ts i clude, but a e ot limited to, stateme ts ega di g ma ket t e ds, dy amics a d expectatio s (i cludi g cloud a d AI i f ast uctu e a d co ectivity ma ket t e ds a d the i dust y’s build-out); ou a d ou ultimate custome s’ futu e dema d, p oduct pu chases, deployme t of systems i co po ati g ou p oducts, busi ess, ope ati g esults, cash flow, fi a cial positio , outlook a d guida ce (a d a y u de lyi g d ive s), i cludi g fo the fou th qua te of fiscal 2026; ou busi ess st ategy, pla s a d ma ket, eve ue o othe fo ms of oppo tu ities, ou absolute o elative ma ket sha e o g owth p ofile o ate a d ou timi g, dive sificatio a d ability to fu the build upo ou eve ue base, expa d ou p oduct offe i gs, po tfolio a d featu es o pe fo ma ce, i c ease a d se vice ou ma ket oppo tu ity (i cludi g the timi g a d exte t of such ma ket oppo tu ities), emai at the fo ef o t of a AI i f ast uctu e t a sfo matio , a d scale o expa d ou co ectivity platfo m; ou objectives o st ategies fo futu e ope atio s (such as ou optical, custom solutio s a d ack-scale platfo m busi esses), o ga izatio al i vestme ts a d cha ges, a d the d ive s, timi g a d impacts associated the ewith; ou p e-p oductio , p oductio , developme t, shippi g/shipme ts a d delive y of (i cludi g timi g a d custome s), activity, applicatio s a d dema d fo , availability of, as well as absolute a d elative eve ue, g owth (i cludi g the d ive s), p ici g, ampi g a d oadmap (e.g., optical, Leo a d O io ) fo , existi g, ew, g owi g o e ha ced (whethe tech ologically o othe wise) p oducts o softwa e, i cludi g the high volume deployme t of Sco pio X-Se ies solutio s, the expa sio of ou Sco pio P-Se ies custome base, the sampli g a d availability of ou A ies 7 po tfolio, the availability of O io ack efe e ce a d system desig s th ough ou OEM a d ODM pa t e s, the adoptio of ou expa ded Leo po tfolio, a d additio al g owth catalysts ac oss ou Sco pio, A ies, Tau us a d Leo po tfolios, a d the compa ative capabilities, pe fo ma ce a d esults of those p oducts o softwa e fo ou custome s; the be efits, timi g, impact, p olife atio a d custome adoptio of diffe e t co ectivity sta da ds a d dema ds; the desig wi s at a d dive sificatio , activity, e gageme ts a d expectatio s of ou custome s; the pla s a d pote tial success of ou a ou ced a d o goi g collabo atio s, pa t e ships a d st ategic elatio ships, i cludi g ou wa a t ag eeme t with Amazo a d ou collabo atio s with AMD, I tel a d NVIDIA; the ability of UALi k 2.0 to p ovide fo a pu pose-built AI compute fab ic capable of scali g with i dust y eeds ove time a d the timi g of a y i itial p og ams; ou competitive positio i g a d the impacts the eof; ou esea ch a d developme t, tech ology a d st ategic IP pla s; the st ategies associated with, i vestme ts i a d size of ou team, as well as the associated impacts; a d futu e i dust y a d mac oeco omic co ditio s, eve ts a d t e ds such as i cloud a d AI i f ast uctu e as well as ou p epa ed ess a d solutio s fo them.

A va iety of isks a d facto s that a e beyo d ou co t ol could cause actual esults to diffe mate ially f om those i the fo wa d-looki g stateme ts i cludi g, without limitatio : the competitive a d cyclical atu e of the semico ducto i dust y; the co ce t atio of ou custome base; the cha ges i dema d fo AI; the mac oeco omic a d/o geopolitical e vi o me t, i cludi g eco omic u ce tai ty a d volatility i the capital ma kets; isks that dema d fo ou p oducts a d the supply chai may be adve sely affected, i cludi g by the impositio of ta iffs by the U ited States o a y othe ju isdictio a d a y co espo di g etaliato y ta iffs, cha ges i political policies, milita y co flict (such as betwee Russia/Uk ai e a d i Is ael, I a a d the Middle East), te o ism, sa ctio s o othe geopolitical eve ts globally (i cludi g co flict betwee Taiwa a d Chi a); qua te ly fluctuatio s i eve ues a d ope ati g esults; difficulties developi g ew p oducts that achieve ma ket accepta ce; isks associated with ma agi g i te atio al activities (i cludi g t ade ba ie s, pa ticula ly with espect to Chi a); ou ability to successfully complete acquisitio s a d to i teg ate ewly acqui ed busi esses a d offe i gs; abse ce of lo g-te m commitme ts f om custome s; isks that Aste a Labs may ot be able to ma age st ai s associated with its g owth; c edit isks associated with its accou ts eceivable; stock p ice volatility; i fo matio tech ology isks, i cludi g cybe secu ity isks such as cybe -attacks agai st Aste a Labs’ p oducts a d its etwo ks; a d othe isks a d u ce tai ties that a e detailed u de the captio “Risk Facto s” a d elsewhe e i ou A ual Repo t o Fo m 10-K, filed with the U.S. Secu ities a d Excha ge Commissio (“SEC”) o Feb ua y 20, 2026, a d i subseque t Qua te ly Repo ts o Fo m 10-Q filed with the SEC a d the othe SEC fili gs a d epo ts Aste a Labs may make f om time to time. Mo eove , we ope ate i a ve y competitive a d apidly cha gi g e vi o me t, a d ew isks may eme ge f om time to time. It is ot possible fo ou ma ageme t to p edict all isks, o ca we assess the impact of all facto s o ou busi ess o the exte t to which a y facto (s) may cause actual esults o outcomes to diffe mate ially f om those co tai ed i a y fo wa d-looki g stateme ts we may make. Acco di gly, you should ot u duly ely o a y of the fo wa d-looki g stateme ts. Aste a Labs disclaims a y i te tio o obligatio to update o evise a y fo wa d-looki g stateme ts, whethe as a esult of ew i fo matio , futu e eve ts, o othe wise, except as equi ed by law.

About Aste a LabsAste a Labs (Nasdaq: ALAB) p ovides ack-scale AI i f ast uctu e th ough pu pose-built co ectivity solutio s. By collabo ati g with hype scale s a d ecosystem pa t e s, Aste a Labs e ables o ga izatio s to u lock the full pote tial of mode AI. Aste a Labs’ I tellige t Co ectivity Platfo m i teg ates CXL^®, Ethe et, NVLi k Fusio , PCIe^®, a d UALi k™ semico ducto -based tech ologies with the compa y’s COSMOS softwa e suite to u ify dive se compo e ts i to cohesive, flexible systems that delive e d-to-e d scale-up a d scale-out co ectivity. The compa y’s custom co ectivity solutio s busi ess compleme ts its sta da ds-based po tfolio, e abli g custome s to deploy tailo ed a chitectu es to meet thei u ique i f ast uctu e equi eme ts. Discove mo e at www.aste alabs.com.

____________________

(1) Total may ot sum due to ou di g.

(2) Acquisitio – elated costs i cluded ce tai i c eme tal expe ses i cu ed to effect a busi ess combi atio such as thi d-pa ty costs: adviso y, legal, accou ti g, valuatio , a d othe p ofessio al fees.

(3) Othe i cluded o -cash a d o ecu i g fai value adjustme ts o equity i vestme ts without eadily dete mi able fai values.

(4) I come tax effect is calculated based o the tax laws i the ju isdictio s i which we ope ate a d is calculated to exclude the impact of stock-based compe satio expe se a d o e-off disc ete tax adjustme ts that a e u elated to ou co e ope ati g pe fo ma ce. Fo the th ee mo ths e ded Septembe 30, 2026, Ju e 30, 2026, a d Septembe 30, 2025, the o -GAAP tax ate was app oximately 11%, 12%, a d 18%, espectively. Fo the i e mo ths e ded Septembe , 2026 a d 2025, the o -GAAP tax ate was app oximately 11% a d 12%, espectively.   

IR CONTACT: Leslie G ee leslie.g ee @aste alabs.com