Astera Labs Q1 revenue jumps 93% on strong demand, beats estimates

Astera Labs,

05/05/2026 21:35

Overview

US semiconductor connectivity firm's preliminary fiscal Q1 revenue rose 93% yr/yr, beating analyst expectations

Adjusted EPS for preliminary fiscal Q1 beat analyst expectations

Growth driven by strong demand for PCIe 6 portfolio and new Scorpio switch launches

Outlook

Astera Labs sees Q2 revenue between $355 mln and $365 mln

Company expects Q2 GAAP diluted EPS of $0.44 to $0.46

Astera Labs targets Q2 GAAP gross margin of about 73%

Result Drivers

PCIe 6 PORTFOLIO DEMAND - Co said Q1 growth was driven by strong demand for its PCIe 6 AI fabric and signal conditioning products

NEW PRODUCT SHIPMENTS - Initial shipments of Scorpio X-Series 320-lane AI Fabric switch and expanded Scorpio P-Series PCIe 6 switch family contributed to results

Company press release: ID:nGNXbZs5V7

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$308.40 mln
$292.23 mln (19 Analysts)
Q1 Adjusted EPS
Beat
$0.61
$0.54 (20 Analysts)
Q1 Adjusted Net Income
Beat
$110.10 mln
$97.47 mln (19 Analysts)
Q1 Net Income
$80.30 mln
Q1 Gross Margin
76.30%
Q1 Adjusted Operating Income
Beat
$111.70 mln
$101.43 mln (19 Analysts)
Q1 Adjusted Gross Margin
76.40%
Q1 Operating Income
$61.80 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the semiconductors peer group is "buy"

Wall Street's median 12-month price target for Astera Labs, Inc is $202.50, about 0.6% above its May 4 closing price of $201.25

The stock recently traded at 71 times the next 12-month earnings vs. a P/E of 64 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)