Astera Labs Files Q3 2024 10-Q

TL;DR

Astera Labs dropped its Q3 10-Q. Check financials.

AI Summary

Astera Labs, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported its financial performance for the third quarter of 2024, detailing revenues, expenses, and net income. Key financial data and operational highlights are presented in this filing.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for Astera Labs, crucial for understanding the company's current health and future prospects in the semiconductor industry.

Risk Assessment

Risk Level: medium — As a publicly traded company in the volatile semiconductor sector, Astera Labs faces inherent market and operational risks detailed within its SEC filings.

Key Players & Entities

• Astera Labs, Inc. (company) — Filer of the 10-Q report
• 2024-09-30 (date) — End of the reporting period for the 10-Q
• 2024-11-05 (date) — Filing date of the 10-Q

FAQ

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share ALAB Nasdaq Global Select Ma

Filing Documents

• alab-20240930.htm (10-Q) — 1559KB
• q324exhibit311.htm (EX-31.1) — 11KB
• q324exhibit312.htm (EX-31.2) — 11KB
• q324exhibit321.htm (EX-32.1) — 7KB
• q324exhibit322.htm (EX-32.2) — 7KB
• 0001736297-24-000043.txt ( ) — 6659KB
• alab-20240930.xsd (EX-101.SCH) — 34KB
• alab-20240930_cal.xml (EX-101.CAL) — 56KB
• alab-20240930_def.xml (EX-101.DEF) — 166KB
• alab-20240930_lab.xml (EX-101.LAB) — 554KB
• alab-20240930_pre.xml (EX-101.PRE) — 384KB
• alab-20240930_htm.xml (XML) — 926KB

- Financial Information

Part I - Financial Information Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and nine months ended September 30, 2024 and 2023 2 Condensed Consolidated Statements of Changes in Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) for the three and nine months ended September 30, 2024 and 2023 3 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 5 Notes to Unaudited Condensed Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 17 Item 3. Quantitative and Qualitative Disclosure About Market Risk 27 Item 4.

Controls and Procedures

Controls and Procedures 27

- Other Information

Part II - Other Information Item 1.

Legal Proceedings

Legal Proceedings 30 Item 1A

Risk Factors

Risk Factors 30 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 Item 3. Defaults Upon Senior Securities 30 Item 4. Mine Safety Disclosures 30 Item 5. Other Information 30 Item 6. Exhibits 31

Signatures

Signatures 32 Table of Contents Special Note about Forward-Looking Statements This Quarterly Report on Form 10Q contains forward-looking statements within the meaning of the federal securities laws, which are statements that involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. All statements other than statements of historical fact included in this Quarterly Report on Form 10Q, including statements regarding our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "will," "shall," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements described under the heading "Risk Factors" included in this Quarterly Report on Form 10Q and those included within our final prospectus dated March 19, 2024, as filed with the SEC on March 21, 2024. Forward-looking statements contained in this Quarterly Report on Form 10Q include, but are not limited to, statements about: our expectations regarding our revenue, expenses, and other operating results; our ability to acquire new customers and grow our customer base; our ability to successfully retain existing customers and expand sales within our existing customer base; launching new products, adding new product capabilities and the market potential of those products and capabilities; future investments in developing and enhancing our business; our expectati

- Financial Information

Part I - Financial Information

Financial Statements (Unaudited)

ITEM 1. Financial Statements (Unaudited) ASTERA LABS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except par values) (unaudited) As of September 30, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 126,117 $ 45,098 Marketable securities 760,684 104,215 Accounts receivable, net 25,386 8,335 Inventory 24,415 24,095 Prepaid expenses and other current assets 8,987 4,064 Total current assets 945,589 185,807 Property and equipment, net 35,137 4,712 Other assets 2,339 5,773 Total assets $ 983,065 $ 196,292 Liabilities, Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) Current liabilities Accounts payable $ 18,551 $ 6,337 Accrued expenses and other current liabilities 69,489 28,742 Total current liabilities 88,040 35,079 Other liabilities 5,413 3,787 Total liabilities 93,453 38,866 Commitments and contingencies (Note 5) Redeemable convertible preferred stock, $ 0.0001 par value; 0 and 91,131 shares authorized as of September 30, 2024 and December 31, 2023, respectively; 0 and 90,891 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively; liquidation preference of $ 0 and $ 265,699 as of September 30, 2024 and December 31, 2023, respectively — 255,127 Stockholders' equity (deficit) Common stock, $ 0.0001 par value; 1,000,000 and 162,641 shares authorized as of September 30, 2024 and December 31, 2023, respectively; 158,561 and 42,046 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 16 4 Additional paid-in capital 1,118,675 27,411 Accumulated other comprehensive income 4,430 259 Accumulated deficit ( 233,509 ) ( 125,375 ) Total stockholders' equity (deficit) 889,612 ( 97,701 ) Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit) $ 983,065 $ 196,292 The accompanying notes are an integral part of these consolidated financial statements. 1 Table of Content

View Full Filing

View this 10-Q filing on SEC EDGAR