Mayer Bethany sold $271K of ALAB

Astera Labs (ALAB) reported record fiscal Q2 2026 results, with revenue of $392.4M up 104% year over year, and issued fiscal Q3 2026 guidance of $540M to $560M, above expectations. The stock later fell about 12% after four prior up sessions. The article attributes the shift to product mix, with PCIe 6 and Scorpio switch family ramping, and a non-GAAP gross margin guide down to about 72% from 74%.

Astera Labs (ALAB) shares fell about 12% to around $318 after its Q2 earnings. The company reported adjusted EPS of $0.80 on revenue of $392.4 million, and Q3 guidance of $540 million to $560 million revenue and non-GAAP EPS of $1.16 to $1.21. Analysts cited high expectations tied to the Scorpio ramp; valuation models estimate a ~$320 target by 2028.

Astera Labs (ALAB) shares moved in after-hours after preliminary Q2 revenue rose 104% to $392.4 million, beating consensus by 8.7%. For Q3, the company guided revenue midpoint to $550 million, about 31.9% above prior forecasts, with adjusted operating margin estimated near 43.3%.

Astera Labs (NASDAQ:ALAB) said on its Q2 earnings call that a lead Scorpio X customer is expected to ramp to high-volume production in Q3, with Scorpio X revenue expected to exceed Scorpio P-Series in that period. Management forecast Q3 revenue of $540 million to $560 million, non-GAAP gross margin about 72%, and non-GAAP EPS of $1.16 to $1.21.

Astera Labs reported Q2 2026 non-GAAP EPS of 80 cents, up 81.8% YoY and 15.94% above the Zacks Consensus. Revenue rose 104.4% YoY to $392.4 million, beating estimates. Management cited PCIe 6 and Scorpio X-Series strength. Q3 guidance calls for $540-$560 million revenue and $1.16-$1.21 non-GAAP EPS.

Astera Labs (ALAB) said its Q2 2026 results reflected an earlier-than-expected production ramp for Scorpio fabric switches and a planned Q3 revenue step-up. Q3 revenue guidance is $540-$560 million, midpoint 40% sequential growth. Q2 revenue rose to $392.4M, non-GAAP EPS 80 cents, and margins improved.