Astera Labs, Inc. (ALAB) · Q2 2026 results and valuation

At 20.0% growth a year (3-year revenue growth), the model's fair value is $87.24 a share — the stock trades 165% above it. Today's price assumes 34.5% growth a year.

1. Figure

   Astera Labs posted record revenue of $392.4 million in Q2, rising 27% from the previous quarter and 104% year-over-year.

   Source quote

   “Astera Labs delivered outstanding results in Q2, with record revenue of $392.4 million, up 27% sequentially and up 104% year-over-year.”

2. Guidance

   The company expects to ship both standard and custom Leo CXL memory controllers in volume across general-purpose compute and AI inferencing applications to two U.S. customers in 2027.

   Source quote

   “Looking into 2027, we expect to ship both standard and custom Leo CXL memory controllers in volume across general-purpose compute and AI inferencing applications to two U.S.”

3. Guidance

   Astera Labs expects revenue to be in the range of $540 million-$560 million.

Script and answers carried a similar tone, so the script's message held up under questioning.

Sentences that drove the tone

“These secular trends are increasing the need for intelligent connectivity and expanding our long-term growth opportunity.”

“With leading hyperscalers planning large-scale training and inference deployments with ever-growing accelerator cluster sizes, our Scorpio X-series high-radix fabric switch family provides intelligent AI fabric with industry-leading features to maximize...”

“Aries growth is being fueled by increased AI system deployments, expanding AI accelerator cluster sizes, greater unit attach rates, and higher ASPs associated with the transition to PCIe 6.”