Astera Labs (ALAB) reported strong Q4 FY2024 results with record quarterly revenue of $141.1 million, up 25% QoQ and 179% YoY. Full-year revenue reached $396.3 million, marking a 242% increase from the previous year.
Q4 GAAP performance showed a gross margin of 74.0% and net income of $24.7 million ($0.14 per diluted share). Non-GAAP Q4 results included operating income of $48.4 million and net income of $66.5 million ($0.37 per diluted share).
For Q1 FY2025, the company projects revenue between $151-155 million with a GAAP gross margin of approximately 74%. Growth was primarily driven by Aries PCIe Retimer products and Taurus Smart Cable Modules, with expectations for 2025 to be a breakout year as all four product families contribute to revenue.
