Astera Labs' second quarter revenue doubles year-over-year, beating estimates and guiding Q3 sharply higher.

Astera Labs reported record second quarter revenue of $392.4 million, up 104% year-over-year and well ahead of analyst expectations. The company also posted non-GAAP EPS of $0.80, nearly double the consensus estimate, and provided a significantly stronger-than-expected revenue outlook for the third quarter.

Key Highlights

• Second quarter revenue grew 104% year-over-year to $392.4 million, driven by broad-based strength across its portfolio for AI infrastructure.
• Non-GAAP gross margin was 73.7%, slightly ahead of the 73.0% consensus and showing resilience despite the ramp of newer products.
• Management guided third quarter revenue to a range of $540 million to $560 million, implying a sequential acceleration driven by the Scorpio fabric switch ramp.