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Astera Labs Inc. (ALAB-2.27%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a significant increase in revenue to $396.3 million, a 242% rise compared to the previous year, driven by higher demand for its Aries products and an increase in average selling prices.
Cost of revenue amounted to $93.6 million, up from $36 million in the prior year, primarily due to a 217% increase in unit shipments.
The company reported a gross profit of $302.7 million, with a gross margin of 76.4%, up from 68.9% in the previous year. This improvement was attributed to a decrease in inventory write-downs.
Research and development expenses increased to $200.8 million, up 174% from the previous year, driven by higher stock-based compensation and personnel-related expenses.
Sales and marketing expenses rose to $123.7 million, a 519% increase, primarily due to increased stock-based compensation expenses and personnel costs.
General and administrative expenses were $94.3 million, up 492% from the prior year, due to higher stock-based compensation and increased personnel-related expenses.
The company reported a net loss of $83.4 million, compared to a net loss of $26.3 million in the previous year.
Interest income increased to $34.3 million, primarily due to higher average short-term investments and cash equivalents balances.
Astera Labs Inc. continues to focus on developing semiconductor-based connectivity solutions for cloud and AI infrastructure, with significant investments in research and development to support future growth.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Astera Labs Inc. annual 10-K report dated February 14, 2025. To report an error, please email earnings@qz.com.