.August 19, 2024 03:52:44 AM

Astera Labs, Inc. (NASDAQ:ALAB) reported a revenue surge to $76.9 million for the second quarter of fiscal year 2024, marking an 18% sequential growth and a remarkable 619% growth year-over-year. The company achieved a gross profit of $59.85 million with a GAAP gross margin of 77.9%, despite a GAAP operating loss of $24.3 million. CEO Jitendra Mohan credited the growth to new AI platforms at hyperscalers, emphasizing the increasing average dollar content in next-generation GPU-based AI platforms. Astera Labs projects Q3 fiscal 2024 GAAP revenue between $95 million to $100 million, with a GAAP gross margin of approximately 75%.