ALAB Q2 2024 Earnings
Reported Aug 6, 2024 at 4:08 PM ET · SEC Source
Q2 24 EPS
$0.13
BEAT +116.67%
Est. $0.06
Q2 24 Revenue
$76.9M
BEAT +20.40%
Est. $63.8M
vs S&P Since Q2 24
+349.6%
BEATING MARKET
ALAB +388.5% vs S&P +38.9%
Market Reaction
Did ALAB Beat Earnings? Q2 2024 Results
Astera Labs delivered a standout second quarter for 2024, posting results that cleared Wall Street expectations by a wide margin as surging demand for AI infrastructure connectivity drove the company's revenue to $76.85 million, a staggering 619% inc… Read more Astera Labs delivered a standout second quarter for 2024, posting results that cleared Wall Street expectations by a wide margin as surging demand for AI infrastructure connectivity drove the company's revenue to $76.85 million, a staggering 619% increase year over year and a 20.40% beat against the $63.83 million consensus estimate. Non-GAAP diluted EPS of $0.13 more than doubled the $0.06 analyst estimate, a 116.67% positive surprise, underscoring the operating leverage building within the business as hyperscaler customers accelerate production ramps of new AI platforms featuring both third-party and internally developed accelerators. Non-GAAP gross margin held firm at 78%, reflecting the premium positioning of Astera's PCIe, CXL, and Ethernet connectivity solutions. Looking ahead, management guided Q3 2024 revenue of $95 million to $100 million, implying continued strong sequential momentum, with non-GAAP EPS of $0.16 to $0.17, even as a modest gross margin step-down to approximately 75% signals near-term product mix shifts tied to new platform ramps.
Key Takeaways
- • Production ramp of new AI platforms at hyperscalers featuring both third-party and internally developed accelerators
- • Sustained secular trends in AI adoption
- • Design wins across diverse AI platform architectures
- • Increasing average dollar content in next-generation GPU-based AI platforms
ALAB YoY Financials
Q2 2024 vs Q2 2023, source: SEC Filings
“Astera Labs achieved robust top-line growth during Q2, and we expect even stronger sequential growth in the September quarter, fueled by the production ramp of new AI platforms at hyperscalers featuring both third-party and internally developed accelerators.”
— Jitendra Mohan, Q2 2024 Earnings Press Release
ALAB Earnings Trends
ALAB vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ALAB EPS Trend
Earnings per share: estimate vs actual
ALAB Revenue Trend
Quarterly revenue: estimate vs actual
ALAB Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 25 BEAT | $0.39 | $0.49 | +25.61% | $230.6M | +11.70% |
| Q1 25 BEAT | $0.28 | $0.33 | +16.28% | $159.4M | +5.21% |
| Q3 24 BEAT | $0.16 | $0.23 | +43.75% | $113.1M | +29.39% |
| Q2 24 BEAT | $0.06 | $0.13 | +116.67% | $76.9M | +20.40% |