Astera Labs stock gains as Scorpio leads record Q3 growth

Astera Labs stock traded at 195.25 euros on Lang & Schwarz at 16:30 CET on Tuesday, November 10, 2026, 2.23 percent above the 191.00-euro quote in the latest AD HOC NEWS report published at 13:01 CET the same day. The report-to-report comparison is separate from the Xetra daily close.

Scorpio Leads Record Third Quarter

Astera Labs reported record third-quarter revenue for the period ended September 30, 2026. In the company's November 3 financial release, revenue reached 584.9 million US dollars, up 49 percent from the previous quarter and 154 percent from a year earlier. The results were carried by broad-based demand for AI infrastructure connectivity and the high-volume ramp of Scorpio.

Scorpio fabric switches became Astera Labs' largest product family by revenue during the quarter. The shift was led by volume production of the Scorpio X-Series 320-lane fabric switch, which is designed for scale-up networks in AI systems. Third-quarter GAAP gross margin was 72.3 percent, while diluted GAAP earnings per share reached 0.99 US dollars.

Astera Labs also expanded its platform beyond fabric switches. The company introduced Aries 7 for optical and copper signal conditioning, expanded its Leo Smart Memory Controller family and unveiled Orion, a rack-scale reference architecture for AI inference deployments.

Fourth-Quarter Outlook Sets Higher Bar

Management expects fourth-quarter fiscal 2026 revenue of 730 million to 750 million US dollars, with the midpoint implying 27 percent sequential growth. GAAP diluted earnings per share are forecast at 1.13 to 1.17 US dollars, while non-GAAP diluted earnings per share are expected at 1.62 to 1.66 US dollars.

The company expects Scorpio X-Series and P-Series expansion to drive connectivity growth. PCIe Gen 6 retimer adoption in Aries and the ramp of Taurus 800-gigabit solutions are expected to support signal-conditioning revenue. Aries 7 products are scheduled to begin sampling with selected customers in the fourth quarter, while Orion rack and system designs are targeted for availability through OEM and ODM partners from the first quarter of 2027.

These developments raise the execution bar for Astera Labs as the company broadens its customer base and product mix. Investors will focus on whether the Scorpio ramp can remain strong while new memory, signal-conditioning and rack-scale products move toward wider adoption.

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