Reports › ALAB › 10-Q FY2025

SEC filings, compared

What changed in Astera Labs,'s 10-Q for the quarter ended September 30, 2025

Compared with the 10-Q for the quarter ended September 30, 2024. Part I, Item 2 and Part II, Item 1A analysed; every summary checked against the quoted filing text.

Registrant: Astera Labs, Inc. · ALAB
This filing: 0001736297-25-000147 ↗ · filed Nov 5, 2025
Compared with: 0001736297-24-000043 ↗ · filed Nov 5, 2024
Processed: Sep 20, 2026 UTC · parser-v5 · classify-v4 · select-v1

Research tool. Describes what filings say. Not investment advice. Verify independently. Read the cited paragraph before relying on it.

How a report is made

54 material changes among 73 changed paragraphs

11 shown by default across the three sections below; each section's "Show all" reaches the rest, in filing order.

Numbers from XBRL

Each figure is the one the filing itself tagged, taken from the filing that reported it. Not written by a model.

Concept	FY2025	FY2024	Change (our arithmetic)
Revenueus-gaap:RevenueFromContractWithCustomerExcludingAssessedTax	230,575,000USD · Jul 1, 2025 to Sep 30, 2025	113,086,000USD · Jul 1, 2024 to Sep 30, 2024	+117,489,000+103.9%
Net income or lossus-gaap:NetIncomeLoss	91,114,000USD · Jul 1, 2025 to Sep 30, 2025	(7,593,000)USD · Jul 1, 2024 to Sep 30, 2024	+98,707,000+1,300%
Cash and cash equivalentsus-gaap:CashAndCashEquivalentsAtCarryingValue	140,407,000USD · at Sep 30, 2025	126,117,000USD · at Sep 30, 2024	+14,290,000+11.3%
Net cash from operating activitiesus-gaap:NetCashProvidedByUsedInOperatingActivities	224,041,000USD · Jan 1, 2025 to Sep 30, 2025	96,973,000USD · Jan 1, 2024 to Sep 30, 2024	+127,068,000+131%

Values as tagged in the filing's inline XBRL, resolved by accession rather than by period matching. When a value is not tagged, we show that instead of estimating it. FY2025: 0001736297-25-000147 · FY2024: 0001736297-24-000043

What the company says for the first time

Paragraphs with no counterpart in the prior filing.

1 material addition

Part I, Item 2 · MD&A

1 of 1 shown · In filing order, too few to rank

01AddedPart I, Item 2 › Interest Income

Summary · quote-checked

Added an MD&A explanation that interest income increased due primarily to higher short-term investment and cash equivalent balances from operating cash flow.

The new paragraph adds a reported result and its stated driver, providing substantive information about interest income and cash balances rather than merely rolling forward periods.

Filing text · FY2024 10-Q · filed Nov 5, 2024

No corresponding language in the FY2024 10-Q.

Filing text · FY2025 10-Q · filed Nov 5, 2025

[added] For the three months ended September 30, 2025, interest income increased $0.5 million, or 5%, compared to the same period in 2024. The increase was primarily due to higher average balances of short-term investments and cash equivalents as a result of cash flow from operations.

Cite this change

"For the three months ended September 30, 2025, interest income increased $0.5 million, or 5%, compared to the same period in 2024. The increase was primarily due to higher average balances of short-term investments and cash equivalents as a result of cash flow from operations."

Astera Labs,, Form 10-Q for FY2025, Part I, Item 2, accession 0001736297-25-000147, filed 5 November 2025.

Filing: https://www.sec.gov/Archives/edgar/data/1736297/000173629725000147/alab-20250930.htm

Comparison: https://yearover.com/reports/alab/0001736297-25-000147?ref=quote

What the company no longer says

Paragraphs of the prior filing that this filing dropped. Only last year's text can show these.

20 material removals

Part I, Item 2 · MD&A

5 of 20 shown · Ordered by the model, quote-checked

01RemovedPart I, Item 2 › Income Tax Provision

Summary · quote-checked

Removed disclosure of the full valuation allowance on federal and state deferred tax assets and the conclusion that they were unlikely to be realized.

The removed paragraph disclosed a tax-related valuation allowance and an assessment of deferred tax asset realizability, changing the stated tax obligation and financial condition disclosure.

Why the model ranked it here

The removed disclosure addressed whether deferred tax assets were realizable and described a full valuation allowance, directly affecting the company’s stated tax position.

Filing text · FY2024 10-Q · filed Nov 5, 2024

[removed] Income tax provision consists primarily of U.S. federal, state, and foreign income taxes. We maintain a full valuation allowance on our federal and state deferred tax assets as we have concluded that it is more likely than not that the deferred tax assets will not be realized.

Filing text · FY2025 10-Q · filed Nov 5, 2025

No corresponding language in the FY2025 10-Q.

Cite this change

"We maintain a full valuation allowance on our federal and state deferred tax assets as we have concluded that it is more likely than not that the deferred tax assets will not be realized."

Astera Labs,, Form 10-Q for FY2024, Part I, Item 2, accession 0001736297-24-000043, filed 5 November 2024.

Filing: https://www.sec.gov/Archives/edgar/data/1736297/000173629724000043/alab-20240930.htm

Comparison: https://yearover.com/reports/alab/0001736297-25-000147?ref=quote

02RemovedPart I, Item 2 › Initial Public Offering

Summary · quote-checked

The current filing removes disclosure of cumulative RSU compensation expense and related tax withholding paid after the IPO.

The removed paragraph disclosed a specific compensation expense, tax obligation, and payment connected to IPO-related RSU vesting; its removal changes disclosed obligations and cash outflows.

Why the model ranked it here

The removed disclosure quantified IPO-related stock compensation and associated tax withholding, providing important information about compensation obligations and cash outflows.

Filing text · FY2024 10-Q · filed Nov 5, 2024

[removed] We recognized $88.9 million of cumulative stock-based compensation expense associated with the time-based vesting and settlement of RSUs that had previously met the time-based vesting condition and for which the liquidity event vesting condition was satisfied in connection with our IPO. Based on our IPO price of $36.00 per share, our tax withholding obligation in connection with the vesting of these RSUs was $20.1 million, which we paid in the first quarter of 2024.

Filing text · FY2025 10-Q · filed Nov 5, 2025

No corresponding language in the FY2025 10-Q.

Cite this change

"We recognized $88.9 million of cumulative stock-based compensation expense associated with the time-based vesting and settlement of RSUs that had previously met the time-based vesting condition and for which the liquidity event vesting condition was satisfied in connection with our IPO."

Astera Labs,, Form 10-Q for FY2024, Part I, Item 2, accession 0001736297-24-000043, filed 5 November 2024.

Filing: https://www.sec.gov/Archives/edgar/data/1736297/000173629724000043/alab-20240930.htm

Comparison: https://yearover.com/reports/alab/0001736297-25-000147?ref=quote

03RemovedPart I, Item 2 › Initial Public Offering

Summary · quote-checked

The MD&A no longer discloses completion of the IPO, shares sold, offering proceeds, underwriting costs, or deferred offering costs.

Removing this paragraph eliminates substantive disclosure about an equity financing transaction, including its size, proceeds, costs, and related share sales.

Why the model ranked it here

The removed disclosure described the equity financing, its proceeds, costs, and share sales, which are central to understanding the company’s capitalization and liquidity history.

Filing text · FY2024 10-Q · filed Nov 5, 2024

[removed] On March 22, 2024, we completed our initial public offering (the "IPO") of 22,770,000 shares of our common stock, par value $0.0001 per share (our "Common Stock"), at a price to the public of $36.00 per share, which included 19,758,903 shares of Common Stock sold by us, inclusive of 2,970,000 shares sold by us pursuant to the full exercise of the underwriters' over-allotment option, as well as 3,011,097 shares of Common Stock sold by certain of our existing stockholders. We received net proceeds of $672.2 million, after deducting underwriting discounts and commissions of $39.1 million, and we did not receive any proceeds from the sale of our common stock by our existing shareholders in the IPO. In connection with the IPO, we recognized deferred offering costs of $6.2 million.

Filing text · FY2025 10-Q · filed Nov 5, 2025

No corresponding language in the FY2025 10-Q.

Cite this change

"On March 22, 2024, we completed our initial public offering (the "IPO") of 22,770,000 shares of our common stock, par value $0.0001 per share (our "Common Stock"), at a price to the public of $36.00 per share, which included 19,758,903 shares of Common Stock sold by us, inclusive of 2,970,000 shares sold by us pursuant to the full exercise of the underwriters' over-allotment option, as well as 3,011,097 shares of Common Stock sold by certain of our existing stockholders. We received net proceeds of $672.2 million, after deducting underwriting discounts and commissions of $39.1 million, and we did not receive any proceeds from the sale of our common stock by our existing shareholders in the IPO. In connection with the IPO, we recognized deferred offering costs of $6.2 million."

Astera Labs,, Form 10-Q for FY2024, Part I, Item 2, accession 0001736297-24-000043, filed 5 November 2024.

Filing: https://www.sec.gov/Archives/edgar/data/1736297/000173629724000043/alab-20240930.htm

Comparison: https://yearover.com/reports/alab/0001736297-25-000147?ref=quote

04RemovedPart I, Item 2 › Revenue

Summary · quote-checked

The revenue discussion was removed, eliminating disclosure of revenue growth and its stated shipment, demand, and product-mix drivers.

The removed paragraph substantively described revenue performance and specific drivers; its absence is more than a date, period, or formatting update.

Why the model ranked it here

The removed disclosure explained revenue performance through shipment growth, customer demand, and product mix, eliminating key context for the company’s operating results.

Filing text · FY2024 10-Q · filed Nov 5, 2024

[removed] Total revenue increased $76.2 million, or 206%, for the three months ended September 30, 2024 compared to the three months ended September 30, 2023, primarily due to a 197% increase in overall unit shipments driven by higher demand for our Aries products. The increase in revenue was also attributable to higher overall average selling prices resulting from an increased mix of our second-generation Aries retimers, which have a higher average selling price than our first-generation products.

Filing text · FY2025 10-Q · filed Nov 5, 2025

No corresponding language in the FY2025 10-Q.

Cite this change

"Total revenue increased $76.2 million, or 206%, for the three months ended September 30, 2024 compared to the three months ended September 30, 2023, primarily due to a 197% increase in overall unit shipments driven by higher demand for our Aries products. The increase in revenue was also attributable to higher overall average selling prices resulting from an increased mix of our second-generation Aries retimers, which have a higher average selling price than our first-generation products."

Astera Labs,, Form 10-Q for FY2024, Part I, Item 2, accession 0001736297-24-000043, filed 5 November 2024.

Filing: https://www.sec.gov/Archives/edgar/data/1736297/000173629724000043/alab-20240930.htm

Comparison: https://yearover.com/reports/alab/0001736297-25-000147?ref=quote

05RemovedPart I, Item 2 › Summary of Financial Highlights

Summary · quote-checked

The current report removes the paragraph explaining revenue growth, gross-margin improvement, and inventory write-down drivers for the nine months ended September 30, 2024.

The removed paragraph contains substantive MD&A results and explanations, including revenue, margin, product mix, unit cost, and inventory write-down drivers; its removal changes disclosed information.

Why the model ranked it here

The removed disclosure explained changes in revenue and gross margin through demand, product mix, unit costs, and inventory write-downs, materially reducing insight into reported profitability.

Filing text · FY2024 10-Q · filed Nov 5, 2024

[removed] Our revenue for the nine months ended September 30, 2024, increased by 291% compared to the nine months ended September 30, 2023, primarily due to an increase in overall unit shipments driven by higher demand for our Aries products. Gross margin increased 1,520 bps to 77.7% for the nine months ended September 30, 2024 from 62.5% for the nine months ended September 30, 2023, primarily driven by an increase in product mix, lower average unit cost, and a $9.2 million decrease from inventory write-downs. The inventory write-downs during the nine months ended September 30, 2023 were due primarily to inventory in excess of our sales forecast for a legacy customer product.

Filing text · FY2025 10-Q · filed Nov 5, 2025

No corresponding language in the FY2025 10-Q.

Cite this change

"Our revenue for the nine months ended September 30, 2024, increased by 291% compared to the nine months ended September 30, 2023, primarily due to an increase in overall unit shipments driven by higher demand for our Aries products. Gross margin increased 1,520 bps to 77.7% for the nine months ended September 30, 2024 from 62.5% for the nine months ended September 30, 2023, primarily driven by an increase in product mix, lower average unit cost, and a $9.2 million decrease from inventory write-downs. The inventory write-downs during the nine months ended September 30, 2023 were due primarily to inventory in excess of our sales forecast for a legacy customer product."

Astera Labs,, Form 10-Q for FY2024, Part I, Item 2, accession 0001736297-24-000043, filed 5 November 2024.

Filing: https://www.sec.gov/Archives/edgar/data/1736297/000173629724000043/alab-20240930.htm

Comparison: https://yearover.com/reports/alab/0001736297-25-000147?ref=quote

Show all 20 in Part I, Item 2 (15 more, in filing order)

What the company says differently

Paragraphs that changed between the two filings, shown as a word diff.

33 material changes

Part I, Item 2 · MD&A

5 of 33 shown · Ordered by the model, quote-checked

01ChangedPart I, Item 2 › Overview

Summary · quote-checked

Revenue disclosure was updated to include 2024 and nine-month 2025 results, and quarterly net income was newly disclosed while annual profitability remained unmet.

The new quarterly net income statement changes the profitability disclosure; the revenue periods and figures also materially update the reported financial condition.

Why the model ranked it here

The company now reports quarterly net income while still acknowledging that annual profitability has not been achieved, materially changing its stated earnings trajectory.

Filing text · FY2024 10-Q · filed Nov 5, 2024

Since our inception, we have created and commercialized first-to-market PCIe, Ethernet, and CXL products. We have become a trusted partner and a proven supplier to our hyperscaler and system OEM customers. We have experienced strong growth since the commercial launch of Aries in 2020. Our revenue grew from $34.8 million in 2021, $79.9 million in 2022, and $115.8 million in 2023 to ~~[removed] $255.2~~ million for the nine months ended September 30, ~~[removed] 2024,~~ driven by a sizable increase in demand for our products. We have made significant investments in the design and development of new products and platform ~~[removed] enhancements, and, as a result,~~ we have not yet achieved profitability on an annual basis.

Filing text · FY2025 10-Q · filed Nov 5, 2025

Since our inception, we have created and commercialized first-to-market PCIe, Ethernet, and CXL products. We have become a trusted partner and a proven supplier to our hyperscaler and system OEM customers. We have experienced strong growth since the commercial launch of Aries in 2020. Our revenue grew from $34.8 million in 2021, $79.9 million in 2022, and $115.8 million in 2023 to [added] $396.3 million in 2024. Our revenue was $581.9 million for the nine months ended September 30, [added] 2025, driven by a sizable increase in demand for our products. We have made significant investments in the design and development of new products and platform [added] enhancements. Although we have recently recorded quarterly net income, we have not yet achieved profitability on an annual basis.

Cite this change

"Our revenue grew from $34.8 million in 2021, $79.9 million in 2022, and $115.8 million in 2023 to $396.3 million in 2024. Our revenue was $581.9 million for the nine months ended September 30, 2025, driven by a sizable increase in demand for our products. We have made significant investments in the design and development of new products and platform enhancements. Although we have recently recorded quarterly net income, we have not yet achieved profitability on an annual basis."

Astera Labs,, Form 10-Q for FY2025, Part I, Item 2, accession 0001736297-25-000147, filed 5 November 2025.

Filing: https://www.sec.gov/Archives/edgar/data/1736297/000173629725000147/alab-20250930.htm

Comparison: https://yearover.com/reports/alab/0001736297-25-000147?ref=quote

02ChangedPart I, Item 2 › Change in Cash Flows from Operating Activities

Summary · quote-checked

Operating cash flow increased, with net income replacing a net loss and materially different working-capital and non-cash drivers.

The MD&A changes the direction and amount of cash flow, replaces a net loss with increased net income, and identifies substantially different operating asset, liability, and compensation drivers.

Why the model ranked it here

Operating cash flow is now supported by net income rather than a net loss, with materially different working-capital and non-cash drivers.

Filing text · FY2024 10-Q · filed Nov 5, 2024

Net cash provided by operating activities for the nine months ended September 30, [removed] 2024 of $97.0 million resulted primarily from non-cash charges of $187.3 million primarily related to $186.4 million in stock-based compensation expense and cash provided by operating assets and liabilities of $17.8 million offset by ~~[removed] a net loss of $108.1 million. Cash provided by~~ operating assets and liabilities ~~[removed] during the period was primarily from $31.1 million increase in accrued expenses and other liabilities primarily due to accrued customer deposits and timing of payments, and a $11.7~~ million increase in ~~[removed] accounts payable~~ primarily due to ~~[removed] timing of payments. The net cash flow provided by operating assets and liabilities were partially offset by an increase of $17.1~~ million in ~~[removed] accounts receivable due to higher product sales and~~ timing of ~~[removed] customer payments, a $5.0~~ million increase in [removed] prepaid expenses and other assets primarily related to accrued interest receivable on our short-term investments, $1.7 million decrease in operating lease liability, and a $1.3 million increase in inventory.

Filing text · FY2025 10-Q · filed Nov 5, 2025

Net cash provided by operating activities for the nine months ended September 30, [added] 2025 was $224.0 million, compared to $97.0 million for the comparable period in 2024. The $127.1 million increase in operating cash inflows was a result of a $282.3 million increase in net income, partially offset by [added] both unfavorable change of $90.9 million from changes in operating assets and liabilities [added] and lower non-cash charges of $64.4 million, primarily due to a $67.7 million decrease in stock-based compensation expense, partially offset by increased warrants contra revenue of $3.1 million. The $90.9 million of unfavorable changes in operating assets and liabilities was predominantly attributable to (i) a $51.8 million increase in [added] the changes of the prepaid expenses and other assets primarily due to [added] a higher income tax receivable from excess of tax benefits related to equity compensation and prepayment for a research and development vendor, (ii) a $44.5 million in [added] unfavorable changes in accounts payables and accrued other liabilities primarily due to the timing of [added] payments, and (iii) a $5.8 million increase in [added] inventory primarily due to build up for anticipated demand. These unfavorable changes were partially offset by favorable changes of $13.0 million in accounts receivable due to higher product sales and the timing of customer payments.

Cite this change

"Net cash provided by operating activities for the nine months ended September 30, 2025 was $224.0 million, compared to $97.0 million for the comparable period in 2024. The $127.1 million increase in operating cash inflows was a result of a $282.3 million increase in net income, partially offset by both unfavorable change of $90.9 million from changes in operating assets and liabilities and lower non-cash charges of $64.4 million"

Astera Labs,, Form 10-Q for FY2025, Part I, Item 2, accession 0001736297-25-000147, filed 5 November 2025.

Filing: https://www.sec.gov/Archives/edgar/data/1736297/000173629725000147/alab-20250930.htm

Comparison: https://yearover.com/reports/alab/0001736297-25-000147?ref=quote

03ChangedPart I, Item 2 › Liquidity and Capital Resources

Summary · quote-checked

The paragraph adds current positive operating cash flow, changes the accumulated deficit figure and period, and replaces production masks with production equipment.

The added positive cash-flow disclosure and substantially different deficit framing change the liquidity narrative; the capital-expenditure wording is secondary.

Why the model ranked it here

The liquidity discussion now emphasizes positive operating cash generation and a substantially different accumulated-deficit position.

Filing text · FY2024 10-Q · filed Nov 5, 2024

~~[removed] We~~ have generated significant losses from operations and negative cash flows from operating activities ~~[removed] in the past~~ as reflected in our accumulated deficit of ~~[removed] $233.5~~ million as of September 30, ~~[removed] 2024.~~ We believe that our current cash, cash equivalents, and marketable securities will be sufficient to fund our operations for at least the next 12 months and beyond. Our future capital requirements, however, will depend on many factors, including our growth rate, the timing and extent of our sales and marketing and research and development expenditures, capital expenditures for production ~~[removed] masks,~~ the continuing market acceptance of our products, and the use of cash to fund potential mergers or acquisitions. In the event that additional financing is required from outside sources, we may seek to raise additional funds through equity, equity-linked arrangements, and debt. If we are unable to raise additional capital when desired and at reasonable rates, our business, results of operations, and financial condition could be adversely affected.

Filing text · FY2025 10-Q · filed Nov 5, 2025

[added] While we have generated [added] $224.0 million in cash flow from operating activities for the nine months ended September 30, 2025, in prior years we generated significant losses from operations and negative cash flows from operating activities as reflected in our accumulated deficit of [added] $34.6 million as of September 30, [added] 2025. We believe that our current cash, cash equivalents, and marketable securities will be sufficient to fund our operations for at least the next 12 months and beyond. Our future capital requirements, however, will depend on many factors, including our growth rate, the timing and extent of our sales and marketing and research and development expenditures, capital expenditures for production [added] equipment, the continuing market acceptance of our products, and the use of cash to fund potential mergers or acquisitions. In the event that additional financing is required from outside sources, we may seek to raise additional funds through equity, equity-linked arrangements, and debt. If we are unable to raise additional capital when desired and at reasonable rates, our business, results of operations, and financial condition could be adversely affected.

Cite this change

"While we have generated $224.0 million in cash flow from operating activities for the nine months ended September 30, 2025, in prior years we generated significant losses from operations and negative cash flows from operating activities as reflected in our accumulated deficit of $34.6 million as of September 30, 2025."

Astera Labs,, Form 10-Q for FY2025, Part I, Item 2, accession 0001736297-25-000147, filed 5 November 2025.

Filing: https://www.sec.gov/Archives/edgar/data/1736297/000173629725000147/alab-20250930.htm

Comparison: https://yearover.com/reports/alab/0001736297-25-000147?ref=quote

04ChangedPart I, Item 2 › Change in Cash Flows from Financing Activities

Summary · quote-checked

Financing cash flow changed from IPO-driven proceeds of $650.2 million in 2024 to $6.1 million in 2025, with different stated drivers.

The paragraph changes the financing cash-flow amount, direction of comparison, and underlying drivers, including reduced IPO proceeds and increased tax withholding.

Why the model ranked it here

Financing cash inflows have shifted away from IPO proceeds, materially changing the explanation of how cash was funded.

Filing text · FY2024 10-Q · filed Nov 5, 2024

Net cash provided by financing activities for the nine months ended September 30, ~~[removed] 2024 of~~ $650.2 million [removed] was the result of $672.2 million in proceeds from our IPO, net of underwriting discounts and commissions, and $2.9 million in proceeds from exercises of stock options net of repurchases. This was partially offset by $20.1 million in tax withholding related to net share settlement of [removed] RSUs that had previously met the time-based vesting condition and for which the liquidity event vesting condition was satisfied in connection with our IPO, and $4.8 million in payments of deferred offering costs.

Filing text · FY2025 10-Q · filed Nov 5, 2025

Net cash provided by financing activities for the nine months ended September 30, [added] 2025 was $6.1 million, compared to $650.2 million [added] for the comparable period in 2024. The $644.1 million decrease in cash provided by financing activities was primarily due to a decrease of $667.4 million related to proceeds received from the IPO net of underwriting discounts and commissions and deferred offering costs, partially offset by [added] a $20.1 million [added] increase in tax withholding related to net share settlement of [added] RSUs.

Cite this change

"Net cash provided by financing activities for the nine months ended September 30, 2025 was $6.1 million, compared to $650.2 million for the comparable period in 2024. The $644.1 million decrease in cash provided by financing activities was primarily due to a decrease of $667.4 million related to proceeds received from the IPO net of underwriting discounts and commissions and deferred offering costs, partially offset by a $20.1 million increase in tax withholding related to net share settlement of RSUs."

Astera Labs,, Form 10-Q for FY2025, Part I, Item 2, accession 0001736297-25-000147, filed 5 November 2025.

Filing: https://www.sec.gov/Archives/edgar/data/1736297/000173629725000147/alab-20250930.htm

Comparison: https://yearover.com/reports/alab/0001736297-25-000147?ref=quote

05ChangedPart I, Item 2 › Cost of Revenue, Gross Profit, and Gross Margin

Summary · quote-checked

Gross margin shifted from increasing to decreasing, with new nine-month results and a changed stated driver tied to shipping more hardware modules.

The narrative changes direction, adds a nine-month comparison, and replaces the prior drivers with product mix and increased hardware-module shipments, making the disclosure substantively different.

Why the model ranked it here

Gross margin has changed from expanding to contracting, with the decline attributed to product mix and greater hardware-module shipments.

Filing text · FY2024 10-Q · filed Nov 5, 2024

Gross margin ~~[removed] increased 160~~ bps to ~~[removed] 77.7%~~ for the three months ended September 30, ~~[removed] 2024~~ compared to ~~[removed] 76.1%~~ for the ~~[removed] three~~ months ended September 30, ~~[removed] 2023. The increase~~ was primarily driven by ~~[removed] an increase in overall~~ product mix ~~[removed] and lower average unit cost.~~

Filing text · FY2025 10-Q · filed Nov 5, 2025

Gross margin [added] decreased 150 bps to [added] 76.2% for the three months ended September 30, [added] 2025 compared to [added] 77.7% for the [added] same period in 2024. Gross margin decreased 200 bps to 75.7% for the nine months ended September 30, [added] 2025 compared to 77.7% for the same period in 2024. The decrease for both periods was primarily driven by product mix [added] as we shipped more hardware modules.

Cite this change

"Gross margin decreased 150 bps to 76.2% for the three months ended September 30, 2025 compared to 77.7% for the same period in 2024. Gross margin decreased 200 bps to 75.7% for the nine months ended September 30, 2025 compared to 77.7% for the same period in 2024. The decrease for both periods was primarily driven by product mix as we shipped more hardware modules."

Astera Labs,, Form 10-Q for FY2025, Part I, Item 2, accession 0001736297-25-000147, filed 5 November 2025.

Filing: https://www.sec.gov/Archives/edgar/data/1736297/000173629725000147/alab-20250930.htm

Comparison: https://yearover.com/reports/alab/0001736297-25-000147?ref=quote

Show all 33 in Part I, Item 2 (28 more, in filing order)

What the company reported as changed this quarter

We have not parsed the annual report this quarter's risk factors refers to, so we cannot tell whether it restates the section or reports changes to it. Nothing is compared until we can.

Part II, Item 1A · Risk Factors

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