Astera Labs stock broadens AI platform after record Q3

Astera Labs reported record third-quarter revenue on Tuesday, November 3, 2026, as Scorpio fabric switches became the company's largest product family by revenue. The company's financial release put revenue for the quarter ended September 30 at USD 584.9 million, up 49 percent from the previous quarter and 154 percent from a year earlier.

Scorpio leads record growth

Volume production of the Scorpio X-Series 320-lane fabric switch drove the product-mix shift. Astera Labs said Scorpio revenue exceeded P-Series revenue during the quarter, while the combined Scorpio family surpassed a USD 1 billion annualized revenue rate.

The release also expands the growth story beyond switching. Astera Labs introduced Leo X-Series and Leo 2 E-Series and P-Series memory connectivity solutions for fabric-attached and CPU-attached memory architectures. The company said internal testing showed up to 62 percent faster time-to-first-token and up to 22 percent more tokens per second with Leo X-Series in selected workloads.

Fourth-quarter outlook stays elevated

Astera Labs expects fourth-quarter revenue of USD 730 million to USD 750 million for the period ending December 31. The outlook includes GAAP diluted earnings per share of USD 1.13 to USD 1.17 and non-GAAP diluted earnings per share of USD 1.62 to USD 1.66, with both GAAP and non-GAAP gross margin expected at 72 percent.

The real-time quote of Astera Labs stock was 172.25 euros on Lang & Schwarz at 15:34 CET on Friday, November 6, 2026.

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Investors will now focus on whether Scorpio can sustain its production ramp across more customers while Leo, Aries 7 and Orion move from product expansion toward broader adoption. More news and analyses on Astera Labs stock will follow as those milestones develop.