Astera Labs, Inc. announced preliminary financial results for the second quarter of fiscal year 2025, reporting record revenue of $191.9 million. This represents a substantial 150% increase year-over-year and a 20% sequential increase, driving meaningful upside to earnings and cash flow from operations.
The company achieved GAAP net income of $51.2 million and non-GAAP net income of $75.2 million for the quarter. Astera Labs successfully ramped its PCIe 6 product portfolio into volume production for customized rack-scale AI systems and secured multiple new design wins for its Scorpio Fabric Switches, with Scorpio revenue expected to exceed 10% of total revenue for 2025.
For the third quarter of fiscal year 2025, Astera Labs provided an optimistic outlook, projecting revenue between $203 million and $210 million, representing a sequential increase of 6% to 9%. The company also disclosed material weaknesses in its internal control over financial reporting as of June 30, 2025, including inadequate risk assessment processes and ineffective IT general controls, and is actively working on remediation efforts.
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