Astera Labs reported a blowout quarter with beat/raise that is impressive even for ALAB’s standards. Not only did Astera Labs beat by nearly $20M or 11.3% but the guide exceeded this and beat by 14.35%. To sweeten the deal, the roughly $20M beat flowed through to profits for a company that is comfortably GAAP profitable despite a fairly recent IPO in 2024 with elevated stock-based compensation at 20% of revenue. The fundamental profile of Astera Labs could not be cleaner, and when it comes ...
