Tearsheet

Astera Labs (ALAB)

Market Price (4/13/2026): $168.25 | Market Cap: $28.5 Bil
Sector: Financials | Industry: Diversified Banks

Astera Labs (ALAB)

Market Price (4/13/2026): $168.25
Market Cap: $28.5 Bil
Sector: Financials
Industry: Diversified Banks

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 115%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 37%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 33%

Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -27%

Megatrend and thematic drivers
Megatrends include Artificial Intelligence. Themes include Data Centers & Infrastructure, and AI Chips.

Expensive valuation multiples
P/SPrice/Sales ratio is 33x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 163x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 89x, P/EPrice/Earnings or Price/(Net Income) is 129x

Stock price has recently run up significantly
12M Rtn12 month market price return is 177%

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 19%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.2%

Key risks
ALAB key risks include [1] a high concentration of major cloud and server OEM customers who could develop in-house or alternative solutions, Show more.

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 115%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 37%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 33%
2	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -27%
3	Megatrend and thematic drivers Megatrends include Artificial Intelligence. Themes include Data Centers & Infrastructure, and AI Chips.
4	Expensive valuation multiples P/SPrice/Sales ratio is 33x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 163x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 89x, P/EPrice/Earnings or Price/(Net Income) is 129x
5	Stock price has recently run up significantly 12M Rtn12 month market price return is 177%
6	Significant share based compensation SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 19%
7	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.2%
8	Key risks ALAB key risks include [1] a high concentration of major cloud and server OEM customers who could develop in-house or alternative solutions, Show more.

Valuation, Metrics & Events

	4/13/26	2025	2024	2023	2022
Share Price CYE	$168.25	$59.67	$74.19	�	�
Market Cap CYE ($ Bil)	28.5	9.7	3.9	-	-
Total Debt ($ Bil)	0.0	0.0	0.0	0.0	0.0
Total Cash ($ Bil)	0.2	0.1	0.7	0.0	0.0
Enterprise Value ($ Bil)	28.4	9.7	3.9
Valuation Ratios
P/S TTM	33.5	19.9	23.9	-	-
P/EBIT TTM	164.5	-446.4	-41.7	-	-
P/E TTM	130.2	235.3	-38.3	-	-
P/FCF TTM	101.2	91.1	-354.6	-	-
Sector Ratios
P/S TTM (Sector)	3.2	2.9	2.7	2.4	3.3
P/EBIT TTM (Sector)	6.6	8.1	7.4	7.5	7.0
P/E TTM (Sector)	11.4	11.2	9.8	8.3	9.9
P/FCF TTM (Sector)	8.8	8.4	7.7	6.0	7.6

	4/13/26	2025	2024
Share Price CYE	$168.25	$59.67	$74.19
Market Cap CYE ($ Bil)	28.5	9.7	3.9
Total Debt ($ Bil)	0.0	0.0	0.0
Total Cash ($ Bil)	0.2	0.1	0.7
Enterprise Value ($ Bil)	28.4	9.7	3.9
Valuation Ratios
P/S TTM	33.5	19.9	23.9
P/EBIT TTM	164.5	-446.4	-41.7
P/E TTM	130.2	235.3	-38.3
P/FCF TTM	101.2	91.1	-354.6
Sector Ratios
P/S TTM (Sector)	3.2	2.9	2.7
P/EBIT TTM (Sector)	6.6	8.1	7.4
P/E TTM (Sector)	11.4	11.2	9.8
P/FCF TTM (Sector)	8.8	8.4	7.7

	ALAB	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	0.9
Rev Chg Q	91.8%	7.5%
Rev Chg LTM	115.1%	6.8%
Rev Chg 3Y Avg	178.7%	5.7%
PROFITABILITY	GOOD
Op Inc LTM ($ Bil)	0.2
CFO LTM ($ Bil)	0.3
Net Inc LTM ($ Bil)	0.2
Op Mgn LTM	20.3%	18.6%
CFO/Rev LTM	37.5%	20.6%
Net Inc Mgn	25.7%	12.8%
VALUATION	VERY HIGH
P/S	33.5	3.2
P/CFO	89.3	15.4
P/FCF	101.2	19.8
P/E	130.2	24.1

AI Analysis | Feedback

Metric	Value	Date	Source
Backlog and long-term agreements	Extending into late 2026	8052025	Link
Workforce Expansion Target	Plans to increase workforce by 60% by the end of 2025	11052025	Link
Top Three End Customer Revenue Concentration	Approximately 70% of revenues	12312023	Link

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Price Chart

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Astera Labs (ALAB) stock has remained largely at the same level since 12/31/2025 because of the following key factors:

1. Post-IPO Volatility and Valuation Adjustment Following Rapid Ascent.

Astera Labs experienced a significant stock price increase following its IPO on March 20, 2024, reaching an all-time high of $251.88 on September 18, 2025. The period since December 31, 2025, has largely seen the stock consolidate within a range, such as trading between $97.89 and $151.38 after its Q4 2025 earnings in February 2026, indicating a natural valuation adjustment and stabilization after its initial rapid growth phase rather than continued explosive upward momentum.

2. Mixed Q4 2025 Financial Results and Q1 2026 Guidance Indicating Decelerating Revenue Growth.

While Astera Labs exceeded analyst expectations for Q4 2025, reporting $0.58 EPS against a $0.51 consensus and $270.58 million in revenue against a $249.46 million consensus, its Q1 2026 revenue guidance of approximately $291.5 million at the midpoint, despite being above consensus, implied an 83% year-over-year growth rate, which marked a seventh consecutive quarter of top-line growth deceleration. This trend introduced some caution among investors, tempering further significant stock appreciation.

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Stock Movement Drivers

Fundamental Drivers

The 1.1% change in ALAB stock from 12/31/2025 to 4/13/2026 was primarily driven by a 17.9% change in the company's Total Revenues ($ Mil).

(LTM values as of)	12312025	4132026	Change
Stock Price ($)	166.36	168.25	1.1%
Change Contribution By:
Total Revenues ($ Mil)	723	853	17.9%
Net Income Margin (%)	27.5%	25.7%	-6.5%
P/E Multiple	140.1	130.2	-7.1%
Shares Outstanding (Mil)	167	170	-1.2%
Cumulative Contribution			1.1%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 4/13/2026

	Return	Correlation
ALAB	0.3%
Market (SPY)	-5.4%	41.1%
Sector (XLF)	-5.7%	16.9%

Fundamental Drivers

The -14.1% change in ALAB stock from 9/30/2025 to 4/13/2026 was primarily driven by a -59.7% change in the company's P/E Multiple.

(LTM values as of)	9302025	4132026	Change
Stock Price ($)	195.80	168.25	-14.1%
Change Contribution By:
Total Revenues ($ Mil)	606	853	40.8%
Net Income Margin (%)	16.5%	25.7%	55.4%
P/E Multiple	323.4	130.2	-59.7%
Shares Outstanding (Mil)	165	170	-2.4%
Cumulative Contribution			-14.1%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 4/13/2026

	Return	Correlation
ALAB	-14.8%
Market (SPY)	-2.9%	43.3%
Sector (XLF)	-3.8%	13.5%

Fundamental Drivers

The 182.0% change in ALAB stock from 3/31/2025 to 4/13/2026 was primarily driven by a 115.1% change in the company's Total Revenues ($ Mil).

(LTM values as of)	3312025	4132026	Change
Stock Price ($)	59.67	168.25	182.0%
Change Contribution By:
Total Revenues ($ Mil)	396	853	115.1%
P/S Multiple	24.1	33.5	38.8%
Shares Outstanding (Mil)	160	170	-5.6%
Cumulative Contribution			182.0%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2025 to 4/13/2026

	Return	Correlation
ALAB	179.5%
Market (SPY)	16.3%	48.3%
Sector (XLF)	4.8%	29.1%

Fundamental Drivers

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Market Drivers

3/31/2023 to 4/13/2026

	Return	Correlation
ALAB
Market (SPY)	63.3%	45.3%
Sector (XLF)	67.8%	21.3%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
ALAB Return	-	-	-	114%	26%	-10%	140%
Peers Return	59%	-11%	67%	76%	46%	15%	606%
S&P 500 Return	27%	-19%	24%	23%	16%	-0%	81%
Monthly Win Rates [3]
ALAB Win Rate	-	-	-	60%	50%	25%
Peers Win Rate	67%	48%	62%	57%	52%	45%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
ALAB Max Drawdown	-	-	-	-41%	-60%	-40%
Peers Max Drawdown	-6%	-37%	-11%	-21%	-40%	-17%
S&P 500 Max Drawdown	-1%	-25%	-1%	-2%	-15%	-7%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: AVGO, MRVL, CRDO, MCHP, RMBS.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/13/2026 (YTD)

How Low Can It Go

ALAB has limited trading history. Below is the Financials sector ETF (XLF) in its place.

Unique Key	Event	XLF	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-26.9%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	36.7%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	525 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-43.3%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	76.5%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	295 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-26.1%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	35.2%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	338 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-83.7%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	515.2%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	4,470 days	1,480 days

Compare to AVGO, MRVL, CRDO, MCHP, RMBS

In The Past

SPDR Select Sector Fund's stock fell -26.9% during the 2022 Inflation Shock from a high on 1/12/2022. A -26.9% loss requires a 36.7% gain to breakeven.

Preserve Wealth

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Asset Allocation

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About Astera Labs (ALAB)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Our mission is to innovate, design, and deliver semiconductor-based connectivity solutions that are purpose-built to unleash the full potential of cloud and AI infrastructure. Building on years of experience with a singular focus on addressing connectivity challenges in data-centric systems, we have developed and deployed our leading Intelligent Connectivity Platform built from the ground up for cloud and AI infrastructure. Our Intelligent Connectivity Platform comprises: i) Semiconductor-based, high-speed, mixed-signal connectivity products that integrate a matrix of microcontrollers and sensors; and ii) COSMOS, our software suite which is embedded in our connectivity products and integrated into our customers’ systems. Our Intelligent Connectivity Platform provides our customers with the ability to deploy and operate high-performance cloud and AI infrastructure at scale, addressing an increasingly diverse set of requirements. We provide our connectivity products in various form factors including ICs, boards, and modules. AI touches many aspects of our daily lives today, from vision processing for autonomous vehicles to speech recognition systems for chatbots. According to IDC, by 2025, the Global 2000 organizations will allocate over 40% of their core IT spend to AI-related initiatives, leading to a double-digit increase in the rate of product and process innovations. The shift towards the cloud from on-premise computing is rapidly accelerating due to increasing demand for compute-intensive AI workloads that are truly optimized when deployed at cloud scale. To address the performance and scalability requirements of AI and other compute-intensive applications, hyperscalers have adopted heterogeneous, “accelerated computing” system architectures within their data centers, which include GPUs and other AI accelerators, such as TPUs, AI processors, custom ASICs, and FPGAs, to target specific workloads. These new system architectures require a connectivity backbone that is significantly faster, has lower latency, is robust, and supports cloud scale deployment. Our patented software-defined platform approach delivers critical connectivity performance, enables flexibility and customization, and supports observability and predictive analytics. This approach efficiently addresses the data, network, and memory bottlenecks, scalability, and other unique infrastructure requirements of our hyperscaler and system OEM customers. Based on trusted relationships with the leading hyperscalers and collaboration with data center infrastructure suppliers such as NVIDIA, Advanced Micro Devices, Intel, and many others, our platform is designed to meet our customers’ unique cloud scale requirements. Our COSMOS software suite is foundational to our Intelligent Connectivity Platform and is designed to enable our customers to seamlessly configure, manage, monitor, optimize, troubleshoot, and customize functions in our IC, board, and module products. We believe that our Intelligent Connectivity Platform addresses a large and growing total addressable market (“TAM”) of $17.2 billion. Specifically, our technology and product portfolios target the global wired connectivity market, including PCIe and Ethernet, and the CXL memory connectivity controller market. We believe that our TAM will grow to $27.4 billion by 2027, and we expect to address an increasing share of this TAM as we expand the breadth and depth of our product portfolio. Today, our connectivity solutions are at the heart of major AI platforms deployed worldwide featuring both commercially available GPUs and proprietary AI accelerators. In the last four years, we have successfully introduced three revenue-generating product families across multiple form factors including ICs, boards, and modules, shipping millions of devices across all of the major hyperscalers. Our products, which include Aries PCIe®/CXL™ Smart DSP Retimers (“Aries”), Taurus Ethernet Smart Cable Modules™ (“Taurus”), and Leo CXL Memory Connectivity Controllers (“Leo”), leverage our ICs that are built upon industry standard connectivity protocols such as PCIe, Ethernet, and CXL to address the growing demand for purpose-built connectivity solutions that solve critical data, network, and memory bottlenecks inherent in cloud and AI infrastructure. Since our inception, we have created and commercialized first-to-market PCIe, Ethernet, and CXL products, and, with more than 300 design wins, we have become a trusted partner and a proven supplier to our hyperscaler and system OEM customers. We have experienced strong growth since our founding in October 2017, and particularly since the commercial launch of Aries in 2020. We were incorporated in Delaware in October 2017 under the name Astera Labs, Inc. Our principal executive offices are located at 2901 Tasman Drive, Suite 205, Santa Clara, CA.

AI Analysis | Feedback

Astera Labs is like Mellanox (now part of NVIDIA), but specialized in the ultra-high-speed internal data and memory connections within AI and cloud data centers.

Alternatively, think of them as Rambus, but focused on next-generation PCIe and CXL memory and data connectivity controllers crucial for advanced AI and cloud infrastructure.

AI Analysis | Feedback

Astera Labs (ALAB) provides the following major products:

Aries PCIe®/CXL™ Smart DSP Retimers: These semiconductor products enhance signal integrity and extend the reach of PCIe and CXL interfaces in cloud and AI infrastructure.
Taurus Ethernet Smart Cable Modules™: These modules provide advanced Ethernet connectivity solutions, resolving network bottlenecks in high-performance cloud and AI data centers.
Leo CXL Memory Connectivity Controllers: These controllers manage and optimize CXL (Compute Express Link) memory connectivity, addressing memory bottlenecks within cloud and AI infrastructure.
COSMOS software suite: This software enables customers to configure, manage, monitor, and optimize the functions of Astera Labs' connectivity IC, board, and module products.

AI Analysis | Feedback

Astera Labs (ALAB) sells primarily to other companies. Its major customers can be categorized as:

Hyperscalers: These are large cloud service providers that deploy and operate high-performance cloud and AI infrastructure at scale. While no specific names of hyperscaler customers are provided, Astera Labs states it ships millions of devices across "all of the major hyperscalers."
System OEM (Original Equipment Manufacturer) customers: These are companies that build and supply systems for data centers.

Astera Labs also emphasizes "trusted relationships" and "collaboration" with leading data center infrastructure suppliers. This indicates these companies are either direct customers, integrating Astera Labs' connectivity solutions into their own offerings, or critical partners whose platforms incorporate Astera Labs' technology which is then sold to hyperscalers and system OEMs. These named companies include:

NVIDIA (NASDAQ: NVDA)
Advanced Micro Devices (NASDAQ: AMD)
Intel (NASDAQ: INTC)

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Jitendra Mohan, Chief Executive Officer

Jitendra Mohan is a co-founder of Astera Labs, establishing the company in 2017, and has served as its Chief Executive Officer and a member of the board of directors since November 2017. He led Astera Labs through a successful IPO in March 2024. Prior to co-founding Astera Labs, Mr. Mohan was the Product Line (General) Manager at Texas Instruments Inc. from March 2012 to October 2017. Before that, he held various technical leadership roles, including Design Director, at National Semiconductor Corporation from June 1996 to March 2012. He holds over 35 patents. Mr. Mohan co-founded Astera Labs with Sanjay Gajendra and Casey Morrison, having previously worked together at Texas Instruments.

Desmond Lynch, Chief Financial Officer

Desmond Lynch was appointed as Chief Financial Officer of Astera Labs, effective March 2, 2026. Before joining Astera Labs, he served as Senior Vice President, Finance and Chief Financial Officer of Rambus Inc. from August 2022 to February 2026. His experience also includes roles as Vice President of Finance and Investor Relations at Rambus from 2020 to 2022, and Vice President, Finance at Knowles Corporation from 2019 to 2020. Mr. Lynch also held financial leadership positions at Renesas Electronics Corporation/Integrated Device Technology, Inc. from 2016 to 2019, and was Director, Financial Planning and Analysis at Atmel Corporation from 2010 to 2016 before its acquisition by Microchip Technology. He is a Chartered Accountant with the Institute of Chartered Accountants of Scotland and holds a bachelor's degree in Accounting and Finance from the University of Glasgow, Scotland.

Sanjay Gajendra, President and Chief Operating Officer

Sanjay Gajendra is a co-founder of Astera Labs and has served as Chief Operating Officer and a member of the board of directors since November 2017, taking on the role of President in November 2023. He previously served as Chief Financial Officer and Treasurer of the company from November 2017 to July 2020. Prior to co-founding Astera Labs, Mr. Gajendra was a Product Line (General) Manager at Texas Instruments Inc. from July 2014 to October 2017. His background also includes various roles at National Semiconductor Corporation, including Product Manager, Principal Software Engineer, and Senior Software Engineer, as well as a Senior Software Engineer at Wipro Limited. Mr. Gajendra holds a Master of Engineering degree in Engineering Management from the University of Colorado Boulder. He co-founded Astera Labs with Jitendra Mohan and Casey Morrison, having worked together at Texas Instruments.

Casey Morrison, Chief Product Officer

Casey Morrison is a co-founder of Astera Labs. As Chief Product Officer, he is responsible for leading the product organization, which includes defining products and ensuring their seamless integration into customer systems. He co-founded Astera Labs with Jitendra Mohan and Sanjay Gajendra after their time working together at Texas Instruments.

Philip Mazzara, General Counsel & Secretary

Philip Mazzara serves as the General Counsel and Secretary for Astera Labs, where he oversees the company's legal and compliance functions. Before joining Astera Labs, he held the position of General Counsel and Secretary at Innovium, Inc., a company specializing in network switch silicon for the data center market. Mr. Mazzara earned both a JD and an MBA from Stanford Law School and the Stanford Graduate School of Business.

AI Analysis | Feedback

The key risks to Astera Labs' business are:

Reliance on a rapidly evolving cloud and AI infrastructure market: Astera Labs' core business is purpose-built around providing semiconductor-based connectivity solutions specifically for cloud and AI infrastructure. While this market is experiencing significant growth, it is also highly dynamic with continuous technological advancements and architectural shifts. A slowdown in AI or cloud infrastructure investment, a shift in dominant computing paradigms, or the emergence of new technologies that address connectivity bottlenecks differently could significantly impact the demand for Astera Labs' specialized solutions.
Customer concentration with leading hyperscalers and reliance on strategic partnerships: The company's success is deeply intertwined with its "trusted relationships with the leading hyperscalers" and collaborations with major data center infrastructure suppliers like NVIDIA, AMD, and Intel. While Astera Labs has achieved "more than 300 design wins" and ships to "all of the major hyperscalers," the number of these "major" customers is relatively limited. The loss of a significant hyperscaler customer or a shift in their technology preferences, procurement strategies, or preferred partners could have a substantial adverse effect on Astera Labs' revenue and market position.
Intense competition and the need for continuous innovation: Astera Labs operates in the highly competitive semiconductor industry, focusing on critical connectivity components like PCIe, Ethernet, and CXL. While the company has introduced "first-to-market" products and employs a "patented software-defined platform," it faces competition from both established semiconductor giants and other innovative startups. The ability to maintain technological leadership, continuously innovate, and bring new products to market rapidly to address evolving customer needs and industry standards is crucial for sustained growth and market share against well-resourced competitors.

AI Analysis | Feedback

The clear emerging threat for Astera Labs is the potential for their major hyperscaler customers to vertically integrate and develop their own custom connectivity ASICs.

The company description states that hyperscalers "have adopted heterogeneous, 'accelerated computing' system architectures within their data centers, which include GPUs and other AI accelerators, such as TPUs, AI processors, custom ASICs, and FPGAs, to target specific workloads." This demonstrates that Astera Labs' primary customers possess the capability and strategic intent to design and deploy their own specialized silicon for critical data center functions. Should these hyperscalers extend this in-house chip design capability to the core connectivity components (such as PCIe/CXL retimers or CXL memory controllers) that Astera Labs currently supplies, it could directly reduce or eliminate the need for Astera Labs' products, similar to how major tech companies like Apple developed their own processors or how hyperscalers develop their own AI accelerators, diminishing reliance on third-party suppliers.

AI Analysis | Feedback

Astera Labs' Intelligent Connectivity Platform targets a global total addressable market (TAM) of $17.2 billion. This market includes the global wired connectivity market (PCIe and Ethernet) and the CXL memory connectivity controller market. Astera Labs anticipates this TAM will grow to $27.4 billion by 2027.

AI Analysis | Feedback

Astera Labs (ALAB) is poised for significant revenue growth over the next 2-3 years, driven by several key factors in the rapidly evolving data center and AI infrastructure markets:

Surging Demand for AI and Cloud Infrastructure: Astera Labs is a critical enabler of high-performance AI and cloud infrastructure. The explosion in AI-related spending by major hyperscalers such as Google, AWS, and Microsoft is creating robust and structural demand for Astera Labs' connectivity solutions. The company's Q4 2025 results highlighted accelerating demand from U.S. hyperscalers for AI and cloud infrastructure solutions, with substantial new design wins and diversification across multiple customers. Analysts expect Astera Labs to grow substantially faster than its industry, with forecasted annualized revenue growth of 58% to the end of 2026.
Expansion of Product Portfolio and Technology Leadership: The company is continuously expanding its Intelligent Connectivity Platform with new and advanced semiconductor-based solutions. This includes a focus on next-generation PCIe (e.g., PCIe 6.0), CXL (Compute Express Link), and advanced smart fabric switches like the Scorpio X-Series. Astera Labs is the first to market with a complete PCIe 6.0 solution set, including retimers, gearboxes, smart fabric switches, and optical modules. The shift from Aries retimers to Scorpio scale-up fabrics is expected to materially increase the dollar content per rack and enhance system lock-in. The expanded Scorpio X-Series roadmap includes new capabilities such as increased radix support, platform-specific protocols, in-network computing, Hypercast technology, and optical connectivity to enable multi-rack deployments for complex AI workloads.
Growing Adoption of Advanced Connectivity Standards and Strategic Partnerships: Astera Labs is actively involved in the adoption and implementation of critical new industry standards such as CXL, PCIe 6.0, and Ultra Accelerator (UA) Link. The company's platform integrates these technologies along with Ethernet and NVLink. Its strategic partnerships and collaborations with leading data center infrastructure suppliers like NVIDIA, Advanced Micro Devices, Intel, and its involvement in the Arm Total Design ecosystem are crucial for driving the adoption of its solutions in next-generation AI platforms. These collaborations and first-to-market products have resulted in over 300 design wins.

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Capital Allocation Decisions (Last 3-5 Years)

1. Share Repurchases

No significant share repurchases were reported; as of September 2025, Astera Labs had a 6-Month Share Buyback Ratio of -2.42%, indicating no buybacks or potential share issuance.

2. Share Issuance

Astera Labs completed its Initial Public Offering (IPO) in March 2024, selling 19,758,903 shares of common stock at $36.00 per share.
The IPO generated gross proceeds of approximately $819.7 million for the company.
Certain existing stockholders also sold 3,011,097 shares in the IPO.

3. Inbound Investments

Astera Labs raised $819.7 million in gross proceeds from its IPO in March 2024.
Prior to its public offering, Astera Labs had a private valuation of $3.15 billion in November 2022.
Institutional investors, including Vanguard Group Inc., State Street Corp, Geode Capital Management LLC, and Swiss National Bank, significantly increased their holdings in Astera Labs during 2025.

4. Outbound Investments

Astera Labs entered into a definitive agreement to acquire aiXscale Photonics GmbH.
The company utilized recent funding to establish two new international research and development centers in Canada, expand its workforce, and broaden its product lines.

5. Capital Expenditures

Capital expenditures for the fourth quarter of 2025 totaled $18.7 million, following $12.3 million in the third quarter of 2025, demonstrating ongoing investments in facilities or equipment.
Net cash used in investing activities was substantial in 2025, with figures of -$72.8 million in Q4, -$101.0 million in Q3, -$63.7 million in Q2, and -$3.97 million in Q1.

Interactive Breakdown

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Better Bets vs. Astera Labs (ALAB)

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Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	Astera Labs Stock 7-Day Winning Spree: Stock Climbs 57%	04/14/2026
2	6-Day Rally Sends Astera Labs Stock Up 40%	04/11/2026
3	Astera Labs Stock Plummets 19% With 5-Day Losing Streak	03/31/2026
4	Astera Labs (ALAB) -8.9%: Gross Margin Headwind Disclosed at Conference	03/04/2026
5	Astera Labs Stock (+10%): Israel R&D News Sparks Pre-Earnings Chase	02/10/2026
6	Astera Labs Earnings Notes	12/28/2026
7	Astera Labs Stock (-14%): Insider Distribution Sparks Valuation Reset	12/13/2025
8	Does Astera Labs Stock Lead the Pack?	08/13/2025
9	ARTICLES
10	Astera Labs Stock 5-Day Losing Spree: Stock Falls -19%	03/31/2026
11	Astera Labs Stock (+10%): Israel R&D News Sparks Pre-Earnings Chase	02/10/2026
12	ALAB Leaps 11% In One Week, Things To Be Wary Of When Buying The Stock	09/17/2025
13	ALAB vs the Competition: Which Stock Comes Out on Top?	08/12/2025
14	Mid Cap Stocks Trading At 52-Week High	08/12/2025

	Title
0	DASHBOARDS
1	Astera Labs Stock 7-Day Winning Spree: Stock Climbs 57%
2	6-Day Rally Sends Astera Labs Stock Up 40%
3	Astera Labs Stock Plummets 19% With 5-Day Losing Streak
4	Astera Labs (ALAB) -8.9%: Gross Margin Headwind Disclosed at Conference
5	Astera Labs Stock (+10%): Israel R&D News Sparks Pre-Earnings Chase
6	Astera Labs Earnings Notes
7	Astera Labs Stock (-14%): Insider Distribution Sparks Valuation Reset
8	Does Astera Labs Stock Lead the Pack?
9	ARTICLES
10	Astera Labs Stock 5-Day Losing Spree: Stock Falls -19%
11	Astera Labs Stock (+10%): Israel R&D News Sparks Pre-Earnings Chase
12	ALAB Leaps 11% In One Week, Things To Be Wary Of When Buying The Stock
13	ALAB vs the Competition: Which Stock Comes Out on Top?
14	Mid Cap Stocks Trading At 52-Week High

Trade Ideas

Select ideas related to ALAB.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
HBAN_3312026_Insider_Buying_45D_2Buy_200K	03312026	HBAN	Huntington Bancshares	Insider	Insider Buys 45DStrong Insider Buying Companies with multiple insider buys in the last 45 days	0.0%	0.0%	0.0%
NP_3312026_Insider_Buying_45D_2Buy_200K	03312026	NP	Neptune Insurance	Insider	Insider Buys 45DStrong Insider Buying Companies with multiple insider buys in the last 45 days	0.0%	0.0%	0.0%
JKHY_3272026_Monopoly_xInd_xCD_Getting_Cheaper	03272026	JKHY	Jack Henry & Associates	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	3.1%	3.1%	0.0%
MKTX_3202026_Dip_Buyer_FCFYield	03202026	MKTX	MarketAxess	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-5.2%	-5.2%	-5.7%
RYAN_3202026_Insider_Buying_GTE_1Mil_EBITp+DE_V2	03202026	RYAN	Ryan Specialty	Insider	Insider Buys \| Low D/EStrong Insider Buying Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	-2.7%	-2.7%	-8.5%
ALAB_2272026_Dip_Buyer_High_CFO_Margins_ExInd_DE	02272026	ALAB	Astera Labs	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	-7.8%	-7.8%	-15.6%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
RVMD	Revolution Medicines	26.5	41.3%	71.1%
CAR	Avis Budget	13.1	23.7%	189.1%
SYRE	Spyre Therapeutics	4.7	23.4%	93.1%
SGML	Sigma Lithium	1.9	17.1%	31.8%
QURE	uniQure	1.1	16.5%	-25.1%
PAR	PAR Technology	0.6	16.2%	-62.2%
QDEL	QuidelOrtho	1.1	16.1%	-43.7%
BTGO	BitGo	1.1	14.4%	-47.2%
ANRO	Alto Neuroscience	0.9	13.0%	44.7%
ORCL	Oracle	447.3	12.7%	-19.7%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
REPL	Replimune	0.2	-64.3%	-82.5%
MSEX	Middlesex Water	1.0	-7.0%	3.7%
FAST	Fastenal	52.6	-6.9%	14.8%
SG	Sweetgreen	0.7	-6.8%	-15.1%
IOVA	Iovance Biotherapeutics	1.4	-6.5%	26.7%
AMRC	Ameresco	1.3	-6.0%	-15.3%
URGN	UroGen Pharma	1.0	-6.0%	-13.4%
SAM	Boston Beer	2.6	-5.5%	24.6%
NXT	Nextpower	16.6	-5.4%	28.1%
BROS	Dutch Bros	6.7	-5.4%	-13.7%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
CAR	Avis Budget	13.1	74.5%	189.1%
AXTI	AXT	3.0	58.2%	306.4%
LWLG	Lightwave Logic	1.5	44.7%	251.5%
RVMD	Revolution Medicines	26.5	42.9%	71.1%
AAOI	Applied Optoelectronics	10.8	42.6%	339.4%
ALAB	Astera Labs	28.3	41.4%	0.3%
OGN	Organon	2.2	41.2%	19.4%
HUT	Hut 8	7.6	40.7%	51.9%
AEHR	Aehr Test Systems	2.2	37.4%	254.9%
CRWV	CoreWeave	55.9	36.2%	54.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
REPL	Replimune	0.2	-80.1%	-82.5%
KRUS	Kura Sushi USA	0.7	-23.3%	6.4%
FSLY	Fastly	3.7	-22.7%	139.4%
SMPL	Simply Good Foods	1.1	-21.9%	-44.7%
VG	Venture Global	31.2	-20.0%	87.2%
OKTA	Okta	11.6	-18.7%	-24.3%
PLSE	Pulse Biosciences	1.3	-17.5%	37.8%
AKAM	Akamai Technologies	13.7	-17.2%	8.8%
HUBS	HubSpot	10.8	-16.3%	-48.8%
GWRE	Guidewire Software	10.5	-16.0%	-38.2%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
XLO	Xilio Therapeutics	0.6	1554.6%	-5.6%
CAR	Avis Budget	13.1	272.6%	189.1%
SATL	Satellogic	1.0	151.7%	303.7%
APLS	Apellis Pharmaceuticals	5.2	122.1%	62.6%
ORKA	Oruka Therapeutics	3.3	91.9%	102.5%
AEHR	Aehr Test Systems	2.2	90.3%	254.9%
FBYD	Falcons Beyond Global	0.5	85.0%	-15.5%
KOD	Kodiak Sciences	2.2	76.3%	50.0%
KODK	Eastman Kodak	1.2	73.4%	41.3%
HTZ	Hertz Global	2.1	69.9%	28.6%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
REPL	Replimune	0.2	-77.6%	-82.5%
VRDN	Viridian Therapeutics	1.4	-47.9%	-52.4%
MAZE	Maze Therapeutics	1.3	-47.1%	-33.8%
WVE	WAVE Life Sciences	1.3	-45.6%	-57.3%
BUR	Burford Capital	1.0	-42.4%	-49.7%
FRMI	Fermi	3.0	-36.8%	-36.0%
TE	T1 Energy	0.8	-34.0%	-23.5%
BOBS	Bobs Discount Furniture	1.5	-32.0%	-34.1%
ADMA	ADMA Biologics	2.5	-30.8%	-43.1%
CSIQ	Canadian Solar	0.9	-29.5%	-46.5%

Peer Comparisons

Peers to compare with:

Financials

	ALAB	AVGO	MRVL	CRDO	MCHP	RMBS	Median
Name	Astera L.	Broadcom	Marvell .	Credo Te.	Microchi.	Rambus
Mkt Price	168.25	379.50	132.22	146.82	73.75	113.45	139.52
Mkt Cap	28.5	1,799.2	113.8	26.8	39.9	12.2	34.2
Rev LTM	853	68,282	8,195	1,068	4,372	708	2,720
Op Inc LTM	173	28,309	1,338	324	277	260	301
FCF LTM	282	28,911	1,392	284	820	333	577
FCF 3Y Avg	122	22,679	1,267	87	1,535	235	751
CFO LTM	319	29,684	1,750	340	911	360	636
CFO 3Y Avg	148	23,269	1,601	123	1,735	262	931

Growth & Margins

	ALAB	AVGO	MRVL	CRDO	MCHP	RMBS	Median
Name	Astera L.	Broadcom	Marvell .	Credo Te.	Microchi.	Rambus
Rev Chg LTM	115.1%	25.2%	42.1%	226.1%	-8.1%	27.1%	34.6%
Rev Chg 3Y Avg	-	26.2%	13.3%	104.0%	-15.4%	16.4%	16.4%
Rev Chg Q	91.8%	29.5%	22.1%	201.5%	15.6%	18.1%	25.8%
QoQ Delta Rev Chg LTM	17.9%	6.9%	5.1%	34.2%	3.8%	4.3%	6.0%
Op Mgn LTM	20.3%	41.5%	16.3%	30.3%	6.3%	36.8%	25.3%
Op Mgn 3Y Avg	-11.5%	38.2%	0.7%	0.5%	19.0%	29.6%	9.8%
QoQ Delta Op Mgn LTM	5.6%	0.6%	1.6%	5.1%	2.7%	0.3%	2.1%
CFO/Rev LTM	37.5%	43.5%	21.4%	31.8%	20.8%	50.9%	34.6%
CFO/Rev 3Y Avg	20.3%	43.7%	25.1%	15.2%	27.2%	44.9%	26.2%
FCF/Rev LTM	33.1%	42.3%	17.0%	26.6%	18.8%	47.1%	29.8%
FCF/Rev 3Y Avg	15.1%	42.6%	19.9%	6.5%	24.0%	40.1%	22.0%

Valuation

	ALAB	AVGO	MRVL	CRDO	MCHP	RMBS	Median
Name	Astera L.	Broadcom	Marvell .	Credo Te.	Microchi.	Rambus
Mkt Cap	28.5	1,799.2	113.8	26.8	39.9	12.2	34.2
P/S	33.5	26.3	13.9	25.0	9.1	17.3	21.2
P/EBIT	164.5	63.0	34.9	82.6	228.2	43.1	72.8
P/E	130.2	72.0	42.6	78.7	-579.7	53.0	62.5
P/CFO	89.3	60.6	65.0	78.7	43.8	34.0	62.8
Total Yield	0.8%	1.4%	2.5%	1.4%	1.7%	1.9%	1.5%
Dividend Yield	0.0%	0.0%	0.2%	0.0%	1.9%	0.0%	0.0%
FCF Yield 3Y Avg	-	2.4%	1.8%	0.3%	3.8%	3.1%	2.4%
D/E	0.0	0.0	0.0	0.0	0.1	0.0	0.0
Net D/E	-0.0	0.0	0.0	-0.0	0.1	-0.1	-0.0

Returns

	ALAB	AVGO	MRVL	CRDO	MCHP	RMBS	Median
Name	Astera L.	Broadcom	Marvell .	Credo Te.	Microchi.	Rambus
1M Rtn	39.8%	18.0%	50.6%	24.8%	19.1%	20.7%	22.7%
3M Rtn	-2.5%	8.0%	59.6%	-5.9%	1.1%	22.1%	4.5%
6M Rtn	-15.7%	6.8%	48.1%	-2.1%	16.2%	16.9%	11.5%
12M Rtn	179.8%	110.3%	148.3%	279.2%	96.2%	141.2%	144.7%
3Y Rtn	171.2%	537.4%	231.5%	1,551.5%	-0.1%	126.6%	201.4%
1M Excs Rtn	37.1%	10.0%	47.7%	28.1%	14.4%	23.2%	25.6%
3M Excs Rtn	4.6%	11.4%	60.1%	-1.1%	-0.2%	22.6%	8.0%
6M Excs Rtn	-27.6%	8.2%	43.8%	-5.3%	11.4%	12.7%	9.8%
12M Excs Rtn	135.1%	80.5%	91.4%	210.7%	42.9%	90.7%	91.0%
3Y Excs Rtn	102.3%	459.5%	164.3%	1,449.4%	-68.6%	62.4%	133.3%

Comparison Analyses

	Title
0	Does Astera Labs Stock Lead the Pack?

FDIC Bank Data

Bank Capital

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Bank Deposits

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Bank Assets

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Bank Loans

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FDA Approved Drugs Data

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Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2025	2024	2023	2022
Period End	12/31/2025	12/31/2025	12/31/2024	12/31/2023	12/31/2022
Filing Date	2/20/2026	2/20/2026	2/14/2025	3/21/2024	2/14/2025
Key Financials
Total Revenue	853	853	396	116	80
Net Income	219	219	-83	-26	-58
EPS	1.31	1.32	-0.64	-0.17	-0.45
Growth Rates
Total Revenue Growth	115.1%	115.1%	242.2%	45.0%	-
Net Income Growth	362.7%	362.7%	-217.7%	55.0%	-
Margins
Net Income Margin	25.7%	25.7%	-21.1%	-22.7%	-73.0%
Cash & Debt
Total Cash	1,189	1,189	914	149	163
Total Debt	4	4	1	2	2
Net Debt / (Cash)	-1,185	-1,185	-913	-147	-162
Cash Flows
Net Cash from Operations	319	319	137	-13	-36
Free Cash from Operations	282	282	102	-15	-40
Returns to Shareholders
Dividends	0	-0	-0	-0	-0
Share Repurchases	-0	-0	1	0	0

$ Mil \| FY: 12/31	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1
Period End	12/31/2025	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023
Filing Date	2/20/2026	11/5/2025	8/6/2025	5/7/2025	2/14/2025	11/5/2024	8/7/2024	5/8/2024	3/21/2024	11/5/2024	8/7/2024	5/8/2024
Key Financials Quarterly
Total Revenue	271	231	192	159	141	113	77	65	51	37	11	18
Net Income	45	91	51	32	25	-8	-8	-93	14	-3	-20	-17
EPS	0.27	0.54	0.31	0.19	0.15	-0.05	-0.05	-1.77	0.09	-0.02	-0.15	-0.13
Key Financials TTM
Total Revenue TTM	853	723	606	490	396	306	230	163	116	-	-	-
Net Income TTM	219	199	100	41	-83	-94	-89	-102	-26	-	-	-
Growth Rates Quarterly
Total Revenue Growth	91.8%	103.9%	149.7%	144.3%	179.3%	206.2%	619.0%	269.4%	-	-	-	-
Net Income Growth	82.0%	1300.0%	778.8%	134.2%	72.5%	-143.1%	62.3%	-432.8%	-	-	-	-
Margins Quarterly
Net Income Margin	16.6%	39.5%	26.7%	20.0%	17.5%	-6.7%	-9.8%	-142.5%	28.4%	-8.5%	-187.2%	-98.8%
Cash & Debt
Total Cash	1,189	1,134	1,065	925	914	887	831	801	149	-	-	-
Total Debt	4	0	0	0	1	0	2	2	2	0	0	0
Net Debt / (Cash)	-1,185	-1,134	-1,065	-925	-913	-887	-829	-799	-147	-	-	-
Cash Flows Quarterly
FCF from Operations	95	78	135	11	40	64	30	4	14	-0	-23	-4
Cash Flows TTM
FCF from Operations TTM	319	264	249	144	137	111	48	-5	-13	-	-	-
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	90.5%	128.9%	81.0%	15.4%	0.2%	-15.1%	-21.5%	-145.5%	-	-	-	-
Return on Invested Capital (ROIC) TTM
ROIC TTM	102.8%	62.0%	21.5%	-7.4%	-44.5%	-45.4%	-41.4%	-41.0%	-	-	-	-

Segment Financials

Revenue by Segment

$ Mil	2025	2024
Product sales	393	112
Engineering services	3	4
Total	396	116

Price Behavior

Price Behavior

Market Price	$166.79
Market Cap ($ Bil)	28.3
First Trading Date	03/20/2024
Distance from 52W High	-33.8%
	50 Days	200 Days
DMA Price	$129.53	$156.14
DMA Trend	up	down
Distance from DMA	28.8%	6.8%
	3M	1YR
Volatility	103.3%	91.1%
Downside Capture	1.11	1.50
Upside Capture	313.74	342.71
Correlation (SPY)	40.3%	41.5%

ALAB Betas & Captures as of 3/31/2026

	1M	2M	3M	6M	1Y	3Y
Beta	3.35	4.10	3.02	3.15	2.32	-0.01
Up Beta	5.78	8.46	5.30	2.82	1.95	0.56
Down Beta	4.06	0.98	1.07	1.96	1.89	-0.29
Up Capture	448%	552%	364%	491%	1199%	1641%
Bmk +ve Days	7	16	27	65	139	424
Stock +ve Days	10	18	29	61	133	258
Down Capture	205%	344%	297%	254%	166%	112%
Bmk -ve Days	12	23	33	58	110	323
Stock -ve Days	12	24	34	65	118	247

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with ALAB
ALAB	157.2%	91.2%	1.45	-
Sector ETF (XLF)	10.5%	15.6%	0.45	19.8%
Equity (SPY)	18.7%	13.7%	1.06	44.0%
Gold (GLD)	53.7%	27.6%	1.55	5.0%
Commodities (DBC)	25.2%	16.2%	1.37	14.2%
Real Estate (VNQ)	14.8%	14.0%	0.76	2.8%
Bitcoin (BTCUSD)	-11.7%	43.0%	-0.17	25.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with ALAB
ALAB	21.6%	92.4%	0.93	-
Sector ETF (XLF)	10.1%	18.7%	0.42	21.4%
Equity (SPY)	11.1%	17.0%	0.50	45.4%
Gold (GLD)	21.8%	17.8%	1.01	9.3%
Commodities (DBC)	11.7%	18.8%	0.51	21.8%
Real Estate (VNQ)	3.7%	18.8%	0.10	9.7%
Bitcoin (BTCUSD)	4.6%	56.6%	0.30	21.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with ALAB
ALAB	10.3%	92.4%	0.93	-
Sector ETF (XLF)	13.0%	22.2%	0.54	21.4%
Equity (SPY)	13.9%	17.9%	0.67	45.4%
Gold (GLD)	14.2%	15.9%	0.74	9.3%
Commodities (DBC)	8.8%	17.6%	0.42	21.8%
Real Estate (VNQ)	5.2%	20.7%	0.22	9.7%
Bitcoin (BTCUSD)	67.5%	66.9%	1.07	21.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	3312026
Short Interest: Shares Quantity	15.5 Mil
Short Interest: % Change Since 3152026	14.6%
Average Daily Volume	4.4 Mil
Days-to-Cover Short Interest	3.6 days
Basic Shares Quantity	169.5 Mil
Short % of Basic Shares	9.1%

Returns Analyses

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Earnings Returns History

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	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
2/10/2026	-21.4%	-29.1%	-34.4%
11/4/2025	1.5%	-6.6%	-10.1%
8/5/2025	28.7%	41.7%	38.7%
5/6/2025	-0.4%	23.0%	27.1%
2/10/2025	-10.9%	-9.7%	-33.4%
11/4/2024	37.7%	32.4%	65.5%
8/6/2024	-14.4%	-4.9%	-1.9%
5/7/2024	-9.1%	-5.1%	-17.3%
SUMMARY STATS
# Positive	3	3	3
# Negative	5	5	5
Median Positive	28.7%	32.4%	38.7%
Median Negative	-10.9%	-6.6%	-17.3%
Max Positive	37.7%	41.7%	65.5%
Max Negative	-21.4%	-29.1%	-34.4%

	Forward Returns
2/10/2026	-21.4%	-29.1%	-34.4%
11/4/2025	1.5%	-6.6%	-10.1%
8/5/2025	28.7%	41.7%	38.7%
5/6/2025	-0.4%	23.0%	27.1%
2/10/2025	-10.9%	-9.7%	-33.4%
11/4/2024	37.7%	32.4%	65.5%
8/6/2024	-14.4%	-4.9%	-1.9%
5/7/2024	-9.1%	-5.1%	-17.3%
SUMMARY STATS
# Positive	3	3	3
# Negative	5	5	5
Median Positive	28.7%	32.4%	38.7%
Median Negative	-10.9%	-6.6%	-17.3%
Max Positive	37.7%	41.7%	65.5%
Max Negative	-21.4%	-29.1%	-34.4%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
12/31/2025	02/20/2026	10-K
09/30/2025	11/05/2025	10-Q
06/30/2025	08/06/2025	10-Q
03/31/2025	05/07/2025	10-Q
12/31/2024	02/14/2025	10-K
09/30/2024	11/05/2024	10-Q
06/30/2024	08/07/2024	10-Q
03/31/2024	05/08/2024	10-Q
12/31/2023	03/21/2024	424B4

Recent Forward Guidance [BETA]

Latest: Q4 2025 Earnings Reported 2/10/2026

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q1 2026 Revenue	286.00 Mil	291.50 Mil	297.00 Mil	17.1%		Higher New	Guidance: 249.00 Mil for Q4 2025
Q1 2026 GAAP Gross Margin		74.0%		-1.3%	-1.0%	Lower New	Guidance: 75.0% for Q4 2025
Q1 2026 GAAP Operating Expenses	155.00 Mil	158.00 Mil	161.00 Mil	20.2%		Higher New	Guidance: 131.50 Mil for Q4 2025
Q1 2026 GAAP EPS	0.36	0.37	0.38	85.0%		Higher New	Guidance: 0.2 for Q4 2025
Q1 2026 Non-GAAP EPS	0.53	0.54	0.54	4.9%		Higher New	Guidance: 0.51 for Q4 2025

Prior: Q3 2025 Earnings Reported 11/4/2025

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q4 2025 Revenue	245.00 Mil	249.00 Mil	253.00 Mil	20.6%		Raised	Guidance: 206.50 Mil for Q3 2025
Q4 2025 GAAP Gross Margin		75.0%		0	0	Affirmed	Guidance: 75.0% for Q3 2025
Q4 2025 GAAP Operating Expenses	129.00 Mil	131.50 Mil	134.00 Mil	11.4%		Raised	Guidance: 118.00 Mil for Q3 2025
Q4 2025 Non-GAAP Operating Expenses	85.00 Mil	87.50 Mil	90.00 Mil	12.2%		Raised	Guidance: 78.00 Mil for Q3 2025
Q4 2025 GAAP EPS		0.2		-14.9%		Lowered	Guidance: 0.23 for Q3 2025
Q4 2025 Non-GAAP EPS		0.51		32.5%		Raised	Guidance: 0.39 for Q3 2025

Insider Activity

Expand for More

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Mazzara, Philip	General Counsel and Secretary	Direct	Sell	1062026	178.41	10,000	1,784,071	24,448,909	Form
2	Alba, Manuel		Casa Alameda 2007, LLC	Sell	12032025	166.18	33,000	5,483,981	58,639,207	Form
3	Alba, Manuel		Alba Trust	Sell	12032025	166.18	150,000	24,927,221	261,652,401	Form
4	Lazar, Jack R		Direct	Sell	11212025	149.55	2,500	373,873	14,184,902	Form
5	Mazzara, Philip	General Counsel and Secretary	Direct	Sell	11192025	144.69	4,620	668,477	21,275,497	Form

Collapse to Preview

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Mazzara, Philip	General Counsel and Secretary	Direct	Sell	1062026	178.41	10,000	1,784,071	24,448,909	Form
2	Alba, Manuel		Casa Alameda 2007, LLC	Sell	12032025	166.18	33,000	5,483,981	58,639,207	Form
3	Alba, Manuel		Alba Trust	Sell	12032025	166.18	150,000	24,927,221	261,652,401	Form
4	Lazar, Jack R		Direct	Sell	11212025	149.55	2,500	373,873	14,184,902	Form
5	Mazzara, Philip	General Counsel and Secretary	Direct	Sell	11192025	144.69	4,620	668,477	21,275,497	Form
6	Tate, Michael Truett	Chief Financial Officer	Direct	Sell	11192025	144.69	11,430	1,653,859	27,824,336	Form
7	Gajendra, Sanjay	President and COO	Direct	Sell	11192025	144.69	90,459	13,088,904	231,474,746	Form
8	Mohan, Jitendra	Chief Executive Officer	Direct	Sell	11192025	144.69	90,459	13,088,904	301,024,677	Form
9	Mazzara, Philip	General Counsel and Secretary	Direct	Sell	10032025	192.16	10,000	1,921,572	29,125,846	Form
10	Alba, Manuel		Alba Trust	Sell	9042025	173.27	150,000	25,989,932	298,797,244	Form
11	Alba, Manuel		Casa Alameda 2007, LLC	Sell	9042025	173.27	33,000	5,717,781	66,856,971	Form
12	Mazzara, Philip	General Counsel and Secretary	Direct	Sell	9022025	188.70	10,000	1,886,956	30,488,117	Form
13	Lazar, Jack R		Direct	Sell	8282025	178.42	22,500	4,014,398	17,369,139	Form
14	Gajendra, Sanjay	President and COO	Direct	Sell	8202025	183.51	91,441	16,780,383	398,378,718	Form
15	Mazzara, Philip	General Counsel and Secretary	Direct	Sell	8202025	183.51	7,237	1,328,065	31,485,431	Form
16	Mohan, Jitendra	Chief Executive Officer	Direct	Sell	8202025	183.51	91,441	16,780,383	398,378,718	Form
17	Tate, Michael Truett	Chief Financial Officer	Direct	Sell	8202025	183.51	18,861	3,461,184	47,623,080	Form
18	Tate, Michael Truett	Chief Financial Officer	Tate Trust	Sell	8142025	191.19	100,000	19,118,988	76,761,972	Form
19	Dyckerhoff, Stefan A		Direct	Sell	8112025	173.42	25,000	4,335,539	17,195,441	Form
20	Dyckerhoff, Stefan A		Limited Partnership (TF)	Sell	8112025	173.42	1,000	173,421	1,549,686	Form
21	Dyckerhoff, Stefan A		Direct	Sell	8112025	175.26	25,000	4,381,478	12,996,163	Form
22	Dyckerhoff, Stefan A		Limited Partnership (TF)	Sell	8112025	175.26	1,000	175,259	1,390,856	Form
23	Mohan, Jitendra	Chief Executive Officer	Living Trust	Sell	8112025	170.33	25,423	4,330,244	729,003,325	Form
24	Mohan, Jitendra	Chief Executive Officer	Trust	Sell	8112025	170.33	25,414	4,328,711	119,229,290	Form
25	Mohan, Jitendra	Chief Executive Officer	2021 Trust 1	Sell	8112025	170.33	25,420	4,329,733	119,229,460	Form
26	Mohan, Jitendra	Chief Executive Officer	2021 Trust 2	Sell	8112025	170.33	25,420	4,329,733	119,229,460	Form
27	Mohan, Jitendra	Chief Executive Officer	2022 Trust 1	Sell	8112025	170.33	25,420	4,329,733	76,647,680	Form
28	Mohan, Jitendra	Chief Executive Officer	2022 Trust 2	Sell	8112025	170.33	25,420	4,329,733	76,647,680	Form
29	Tate, Michael Truett	Chief Financial Officer	Tate Trust	Sell	8112025	171.38	100,000	17,138,485	88,948,050	Form
30	Gajendra, Sanjay	President and COO	Trust 1	Sell	8082025	170.02	280,000	47,604,991	939,441,136	Form
31	Alba, Manuel		Alba Trust	Sell	7232025	111.00	13,259	1,471,749	208,069,278	Form
32	Mohan, Jitendra	Chief Executive Officer	Living Trust	Sell	7232025	112.72	12,708	1,432,490	485,322,575	Form
33	Mohan, Jitendra	Chief Executive Officer	Trust	Sell	7232025	112.72	12,710	1,432,716	81,771,092	Form
34	Mohan, Jitendra	Chief Executive Officer	2021 Trust 1	Sell	7232025	112.72	12,710	1,432,716	81,771,881	Form
35	Mohan, Jitendra	Chief Executive Officer	2021 Trust 2	Sell	7232025	112.72	12,710	1,432,716	81,771,881	Form
36	Mohan, Jitendra	Chief Executive Officer	2022 Trust 1	Sell	7232025	112.72	12,710	1,432,716	53,591,119	Form
37	Mohan, Jitendra	Chief Executive Officer	2022 Trust 2	Sell	7232025	112.72	12,710	1,432,716	53,591,119	Form
38	Mohan, Jitendra	Chief Executive Officer	Living Trust	Sell	7212025	94.37	13,418	1,266,194	408,201,451	Form
39	Mohan, Jitendra	Chief Executive Officer	Trust	Sell	7212025	94.37	13,417	1,266,099	70,372,828	Form
40	Mohan, Jitendra	Chief Executive Officer	2021 Trust 1	Sell	7212025	94.37	13,417	1,266,099	70,373,489	Form
41	Mohan, Jitendra	Chief Executive Officer	2021 Trust 2	Sell	7212025	94.37	13,417	1,266,099	70,373,489	Form
42	Mohan, Jitendra	Chief Executive Officer	2022 Trust 1	Sell	7212025	94.37	13,417	1,266,099	46,782,258	Form
43	Mohan, Jitendra	Chief Executive Officer	2022 Trust 2	Sell	7212025	94.37	13,417	1,266,099	46,782,258	Form
44	Mohan, Jitendra	Chief Executive Officer	Living Trust	Sell	7212025	100.25	7,625	764,438	432,910,969	Form
45	Mohan, Jitendra	Chief Executive Officer	Trust	Sell	7212025	100.25	7,626	764,539	73,999,931	Form
46	Mohan, Jitendra	Chief Executive Officer	2021 Trust 1	Sell	7212025	100.25	7,626	764,539	74,000,633	Form
47	Mohan, Jitendra	Chief Executive Officer	2021 Trust 2	Sell	7212025	100.25	7,626	764,539	74,000,633	Form
48	Mohan, Jitendra	Chief Executive Officer	2022 Trust 1	Sell	7212025	100.25	7,626	764,539	48,937,183	Form
49	Mohan, Jitendra	Chief Executive Officer	2022 Trust 2	Sell	7212025	100.25	7,626	764,539	48,937,183	Form
50	Gajendra, Sanjay	President and COO	Trust 1	Sell	7112025	98.73	125,000	12,341,532	573,194,550	Form
51	Gajendra, Sanjay	President and COO	Trust 2	Sell	7112025	98.21	20,000	1,964,156	68,254,421	Form
52	Gajendra, Sanjay	President and COO	Trust 3	Sell	7112025	98.22	20,000	1,964,360	68,261,510	Form
53	Mohan, Jitendra	Chief Executive Officer	Living Trust	Sell	7112025	100.01	1,162	116,211	434,145,738	Form
54	Mohan, Jitendra	Chief Executive Officer	Trust	Sell	7112025	100.01	1,164	116,411	76,111,602	Form
55	Mohan, Jitendra	Chief Executive Officer	2021 Trust 1	Sell	7112025	100.01	1,164	116,411	76,112,302	Form
56	Mohan, Jitendra	Chief Executive Officer	2021 Trust 2	Sell	7112025	100.01	1,164	116,411	76,112,302	Form
57	Mohan, Jitendra	Chief Executive Officer	2022 Trust 1	Sell	7112025	100.01	1,164	116,411	51,110,102	Form
58	Mohan, Jitendra	Chief Executive Officer	2022 Trust 2	Sell	7112025	100.01	1,164	116,411	51,110,102	Form
59	Mohan, Jitendra	Chief Executive Officer	Living Trust	Sell	7112025	102.46	1,882	192,831	444,595,010	Form
60	Mohan, Jitendra	Chief Executive Officer	Trust	Sell	7112025	102.46	1,880	192,626	77,784,680	Form
61	Mohan, Jitendra	Chief Executive Officer	2021 Trust 1	Sell	7112025	102.46	1,880	192,626	77,785,397	Form
62	Mohan, Jitendra	Chief Executive Officer	2021 Trust 2	Sell	7112025	102.46	1,880	192,626	77,785,397	Form
63	Mohan, Jitendra	Chief Executive Officer	2022 Trust 1	Sell	7112025	102.46	1,880	192,626	52,170,324	Form
64	Mohan, Jitendra	Chief Executive Officer	2022 Trust 2	Sell	7112025	102.46	1,880	192,626	52,170,324	Form
65	Alba, Manuel		Casa Alameda 2007, LLC	Sell	7072025	89.95	12,000	1,079,385	37,855,290	Form
66	Alba, Manuel		Alba Trust	Sell	7072025	89.95	51,000	4,587,394	172,410,186	Form
67	Alba, Manuel		Casa Alameda 2007, LLC	Sell	7072025	91.13	1,991	181,430	38,168,967	Form
68	Alba, Manuel		Alba Trust	Sell	7072025	91.13	29,000	2,642,658	172,024,016	Form
69	Mayer, Bethany		Direct	Sell	6262025	87.47	686	60,003	545,628	Form
70	Mohan, Jitendra	Chief Executive Officer	Living Trust	Sell	6242025	100.86	8,790	886,536	437,944,585	Form
71	Mohan, Jitendra	Chief Executive Officer	Trust	Sell	6242025	100.86	8,793	886,838	76,874,443	Form
72	Mohan, Jitendra	Chief Executive Officer	2021 Trust 1	Sell	6242025	100.86	8,790	886,536	76,875,149	Form
73	Mohan, Jitendra	Chief Executive Officer	2021 Trust 2	Sell	6242025	100.86	8,790	886,536	76,875,149	Form
74	Mohan, Jitendra	Chief Executive Officer	2022 Trust 1	Sell	6242025	100.86	8,790	886,536	51,660,924	Form
75	Mohan, Jitendra	Chief Executive Officer	2022 Trust 2	Sell	6242025	100.86	8,790	886,536	51,660,924	Form
76	Alba, Manuel		Casa Alameda 2007, LLC	Sell	6242025	100.84	3,709	374,001	43,647,347	Form
77	Alba, Manuel		Alba Trust	Sell	6242025	100.84	16,441	1,657,851	198,421,559	Form
78	Gajendra, Sanjay	President and COO	Trust 1	Sell	6232025	98.45	57,859	5,696,129	583,852,935	Form
79	Gajendra, Sanjay	President and COO	Trust 2	Sell	6232025	98.19	9,257	908,970	70,207,780	Form
80	Gajendra, Sanjay	President and COO	Trust 3	Sell	6232025	98.20	9,257	909,008	70,210,712	Form
81	Mohan, Jitendra	Chief Executive Officer	Living Trust	Sell	6182025	94.54	17,752	1,678,304	411,351,882	Form
82	Mohan, Jitendra	Chief Executive Officer	Trust	Sell	6182025	94.54	17,752	1,678,304	72,891,934	Form
83	Mohan, Jitendra	Chief Executive Officer	2021 Trust 1	Sell	6182025	94.54	17,752	1,678,304	72,892,312	Form
84	Mohan, Jitendra	Chief Executive Officer	2021 Trust 2	Sell	6182025	94.54	17,752	1,678,304	72,892,312	Form
85	Mohan, Jitendra	Chief Executive Officer	2022 Trust 1	Sell	6182025	94.54	17,751	1,678,210	49,256,982	Form
86	Mohan, Jitendra	Chief Executive Officer	2022 Trust 2	Sell	6182025	94.54	17,751	1,678,210	49,256,982	Form
87	Gajendra, Sanjay	President and COO	Trust 1	Sell	6062025	98.11	67,141	6,587,163	587,518,723	Form
88	Gajendra, Sanjay	President and COO	Trust 2	Sell	6062025	98.11	10,743	1,053,989	71,056,420	Form
89	Gajendra, Sanjay	President and COO	Trust 3	Sell	6062025	98.11	10,743	1,053,989	71,056,420	Form
90	Tate, Michael Truett	Chief Financial Officer	Tate Trust	Sell	6032025	90.23	500,000	45,113,208	55,849,791	Form
91	Alba, Manuel		Casa Alameda 2007, LLC	Sell	6022025	100.00	300	30,000	43,656,300	Form
92	Alba, Manuel		Alba Trust	Sell	6022025	100.00	300	30,000	198,419,800	Form
93	Mohan, Jitendra	Chief Executive Officer	Living Trust	Sell	6022025	100.00	2,366	236,601	436,877,511	Form
94	Mohan, Jitendra	Chief Executive Officer	Trust	Sell	6022025	100.00	2,370	237,001	78,875,737	Form
95	Mohan, Jitendra	Chief Executive Officer	2021 Trust 1	Sell	6022025	100.00	2,366	236,601	78,876,137	Form
96	Mohan, Jitendra	Chief Executive Officer	2021 Trust 2	Sell	6022025	100.00	2,366	236,601	78,876,137	Form
97	Mohan, Jitendra	Chief Executive Officer	2022 Trust 1	Sell	6022025	100.00	2,366	236,601	53,876,062	Form
98	Mohan, Jitendra	Chief Executive Officer	2022 Trust 2	Sell	6022025	100.00	2,366	236,601	53,876,062	Form
99	Gajendra, Sanjay	President and COO	Trust 1	Sell	5292025	98.27	125,000	12,283,975	595,089,307	Form
100	Gajendra, Sanjay	President and COO	Trust 2	Sell	5292025	98.17	20,000	1,963,500	72,158,625	Form
101	Gajendra, Sanjay	President and COO	Trust 3	Sell	5292025	98.17	20,000	1,963,454	72,156,934	Form
102	Mohan, Jitendra	Chief Executive Officer	Living Trust	Sell	5212025	90.02	21,375	1,924,167	393,486,757	Form
103	Mohan, Jitendra	Chief Executive Officer	Trust	Sell	5212025	90.02	21,375	1,924,167	71,216,677	Form
104	Mohan, Jitendra	Chief Executive Officer	2021 Trust 1	Sell	5212025	90.02	21,375	1,924,167	71,216,677	Form
105	Mohan, Jitendra	Chief Executive Officer	2021 Trust 2	Sell	5212025	90.02	21,375	1,924,167	71,216,677	Form
106	Mohan, Jitendra	Chief Executive Officer	2022 Trust 1	Sell	5212025	90.02	21,375	1,924,167	48,711,802	Form
107	Mohan, Jitendra	Chief Executive Officer	2022 Trust 2	Sell	5212025	90.02	21,375	1,924,167	48,711,802	Form
108	Gajendra, Sanjay	See Remarks	Direct	Sell	5202025	90.67	91,337	8,281,408	205,121,462	Form
109	Mohan, Jitendra	Chief Executive Officer	Direct	Sell	5202025	90.67	91,337	8,281,408	205,121,462	Form
110	Mazzara, Philip	General Counsel and Secretary	Direct	Sell	5202025	90.67	3,809	345,358	17,009,153	Form
111	Mazzara, Philip	General Counsel and Secretary	Direct	Sell	5202025	90.13	25,000	2,253,228	14,654,631	Form
112	Tate, Michael Truett	Chief Financial Officer	Direct	Sell	5202025	90.67	9,107	825,715	21,319,266	Form
113	Hurlston, Michael E		Direct	Sell	5192025	91.56	2,500	228,907	8,176,004	Form
114	Mohan, Jitendra	Chief Executive Officer	Living Trust	Sell	5162025	90.90	12,500	1,136,290	399,292,579	Form
115	Mohan, Jitendra	Chief Executive Officer	2021 Trust 1	Sell	5162025	90.90	12,500	1,136,290	73,858,850	Form
116	Mohan, Jitendra	Chief Executive Officer	2021 Trust 2	Sell	5162025	90.90	12,500	1,136,290	73,858,850	Form
117	Mohan, Jitendra	Chief Executive Officer	2022 Trust 1	Sell	5162025	90.90	12,500	1,136,290	51,133,050	Form
118	Mohan, Jitendra	Chief Executive Officer	2022 Trust 2	Sell	5162025	90.90	12,500	1,136,290	51,133,050	Form
119	Mohan, Jitendra	Chief Executive Officer	Trust	Sell	5162025	90.90	12,500	1,136,290	73,858,850	Form
120	Gajendra, Sanjay	See Remarks	Trust 1	Sell	5122025	71.76	125,000	8,970,161	443,523,871	Form
121	Gajendra, Sanjay	See Remarks	Trust 2	Sell	5122025	71.77	20,000	1,435,367	54,185,118	Form
122	Gajendra, Sanjay	See Remarks	Trust 3	Sell	5122025	71.78	20,000	1,435,545	54,191,814	Form
123	Mohan, Jitendra	Chief Executive Officer	Living Trust	Sell	5122025	71.05	12,500	888,126	312,975,904	Form
124	Mohan, Jitendra	Chief Executive Officer	2021 Trust 1	Sell	5122025	71.05	12,500	888,126	58,616,332	Form
125	Mohan, Jitendra	Chief Executive Officer	2021 Trust 2	Sell	5122025	71.05	12,500	888,126	58,616,332	Form
126	Mohan, Jitendra	Chief Executive Officer	2022 Trust 1	Sell	5122025	71.05	12,500	888,126	40,853,808	Form
127	Mohan, Jitendra	Chief Executive Officer	2022 Trust 2	Sell	5122025	71.05	12,500	888,126	40,853,808	Form
128	Mohan, Jitendra	Chief Executive Officer	Trust	Sell	5122025	71.05	12,500	888,126	58,616,332	Form
129	Alba, Manuel		Casa Alameda 2007, LLC	Sell	4042025	63.35	12,000	760,210	28,182,423	Form
130	Alba, Manuel		Alba Trust	Sell	4042025	63.37	51,000	3,231,853	127,594,696	Form
131	Alba, Manuel		Casa Alameda 2007, LLC	Sell	4042025	56.79	8,000	454,310	24,808,888	Form
132	Alba, Manuel		Alba Trust	Sell	4042025	56.80	29,000	1,647,165	112,717,078	Form
133	Mohan, Jitendra	Chief Executive Officer	Living Trust	Sell	3052025	71.37	12,500	892,110	315,271,888	Form
134	Mohan, Jitendra	Chief Executive Officer	2021 Trust 1	Sell	3052025	71.37	12,500	892,110	59,771,370	Form
135	Mohan, Jitendra	Chief Executive Officer	2021 Trust 2	Sell	3052025	71.37	12,500	892,110	59,771,370	Form
136	Mohan, Jitendra	Chief Executive Officer	2022 Trust 1	Sell	3052025	71.37	12,500	892,110	41,929,170	Form
137	Mohan, Jitendra	Chief Executive Officer	2022 Trust 2	Sell	3052025	71.37	12,500	892,110	41,929,170	Form
138	Mohan, Jitendra	Chief Executive Officer	Trust	Sell	3052025	71.37	12,500	892,110	59,771,370	Form
139	Tate, Michael Truett	Chief Financial Officer	CRUT Trust	Sell	2282025	82.53	125,800			Form
140	Gajendra, Sanjay	President and COO	Direct	Sell	2192026	123.81	94,971	11,758,146	189,586,932	Form
141	Mohan, Jitendra	Chief Executive Officer	Direct	Sell	2192026	123.81	94,971	11,758,146	179,860,348	Form
142	Tate, Michael Truett	Chief Financial Officer	Direct	Sell	2192026	123.81	12,001	1,485,784	23,780,846	Form
143	Mazzara, Philip	General Counsel and Secretary	Direct	Sell	2192026	123.80	4,849	600,328	17,095,409	Form
144	Mazzara, Philip	General Counsel and Secretary	Direct	Sell	3042026	117.47	10,000	1,174,741	15,046,547	Form
145	Lazar, Jack R		Direct	Sell	3092026	119.80	7,500	898,472	10,464,319	Form
146	Lazar, Jack R		Direct	Sell	3172026	130.00	2,500	325,000	11,030,630	Form

ALAB Trade Sentinel

Stock Conviction

null

CONVICTION RATIONALE

null

STOCK ARCHETYPE

null

INVESTMENT THESIS

null

Mechanism: null

Supporting Evidence:

PRIMARY RISK

null

Mechanism: null

Supporting Evidence:

Key KPI Watchlist

KPI	Threshold	Rationale

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

Key Events in Last 6 Months

Date	Event	Stock Impact

Risk Management

Position Sizing

null

Diversification Alternatives

How Is The Market Pricing ALAB?

What will confirm the thesis

What will damage the thesis

Noise: Real but irrelevant to thesis

Repricing Catalyst

What ALAB Makes & Who Pays

TTM figures based on

ALAB Evolution: Price Return by Era

① Structure

② Volume / Momentum

③ Catalyst

Combined Score

0 / 12

1 Price Structure & Trend · ▾

2 Momentum ▾

3 Relative Strength vs. SPY ▾

4 Institutional Footprint & Volume ▾

5 Volatility ▾

6 Key Price Levels Range · Vol ▾

7 Earnings Reaction History ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

ℹ Bull Pillars: 0 · Bear Pillars: 0 · Combined Score: 0 →

Industry Resources

Financials Resources

Federal Reserve Economic Data

External Quote Links

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Astera Labs (ALAB)

Market Price (4/13/2026): $168.25 | Market Cap: $28.5 BilSector: Financials | Industry: Diversified Banks

Astera Labs (ALAB)

Market Price (4/13/2026): $168.25Market Cap: $28.5 BilSector: FinancialsIndustry: Diversified Banks

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Astera Labs (ALAB)

Capital Allocation Decisions (Last 3-5 Years)

1. Share Repurchases

2. Share Issuance

3. Inbound Investments

4. Outbound Investments

5. Capital Expenditures

Interactive Breakdown

Better Bets vs. Astera Labs (ALAB)

Latest Trefis Analyses

Trade Ideas

Recent Active Movers

Top Gainers

Top Losers

Top Gainers

Top Losers

Top Gainers

Top Losers

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Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons

Financials

Growth & Margins

Valuation

Returns

Comparison Analyses

FDIC Bank Data

Bank Capital

Bank Deposits

Bank Assets

Bank Loans

FDA Approved Drugs Data

Financials

Segment Financials

Price Behavior

Based On 1-Year Data

Based On 5-Year Data

Based On 10-Year Data

Short Interest

Returns Analyses

Earnings Returns History

SEC Filings

Recent Forward Guidance [BETA]

Insider Activity

ALAB Trade Sentinel

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CONVICTION RATIONALE

STOCK ARCHETYPE

INVESTMENT THESIS

PRIMARY RISK

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Market Price (4/13/2026): $168.25 | Market Cap: $28.5 Bil
Sector: Financials | Industry: Diversified Banks

Market Price (4/13/2026): $168.25
Market Cap: $28.5 Bil
Sector: Financials
Industry: Diversified Banks