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Side-by-side financial comparison of Astera Labs, Inc. (ALAB) and Amphastar Pharmaceuticals, Inc. (AMPH). Click either name above to swap in a different company.
Astera Labs, Inc. is the larger business by last-quarter revenue ($270.6M vs $183.1M, roughly 1.5× Amphastar Pharmaceuticals, Inc.). Astera Labs, Inc. runs the higher net margin — 16.6% vs 13.3%, a 3.3% gap on every dollar of revenue. On growth, Astera Labs, Inc. posted the faster year-over-year revenue change (91.8% vs -1.8%). Astera Labs, Inc. produced more free cash flow last quarter ($76.6M vs $24.6M). Over the past eight quarters, Astera Labs, Inc.'s revenue compounded faster (103.6% CAGR vs 3.2%).
Astera Labs, Inc. is an American fabless semiconductor manufacturer and artificial intelligence company. The company specializes in designing high-speed connectivity solutions for data centers and AI infrastructure. The company has been listed on the Nasdaq since March 2024.
Amphastar Pharmaceuticals is a publicly traded American speciality pharmaceutical company. It was incorporated in May 2004 and primarily develops, manufactures, and sells inhalation and intranasal products.
ALAB vs AMPH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $270.6M | $183.1M |
| Net Profit | $45.0M | $24.4M |
| Gross Margin | 75.6% | 46.8% |
| Operating Margin | 24.7% | 19.4% |
| Net Margin | 16.6% | 13.3% |
| Revenue YoY | 91.8% | -1.8% |
| Net Profit YoY | 82.0% | -35.7% |
| EPS (diluted) | $0.25 | $0.51 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $270.6M | $183.1M | ||
| Q3 25 | $230.6M | $191.8M | ||
| Q2 25 | $191.9M | $174.4M | ||
| Q1 25 | $159.4M | $170.5M | ||
| Q4 24 | $141.1M | $186.5M | ||
| Q3 24 | $113.1M | $191.2M | ||
| Q2 24 | $76.8M | $182.4M | ||
| Q1 24 | $65.3M | $171.8M |
| Q4 25 | $45.0M | $24.4M | ||
| Q3 25 | $91.1M | $17.4M | ||
| Q2 25 | $51.2M | $31.0M | ||
| Q1 25 | $31.8M | $25.3M | ||
| Q4 24 | $24.7M | $38.0M | ||
| Q3 24 | $-7.6M | $40.4M | ||
| Q2 24 | $-7.5M | $37.9M | ||
| Q1 24 | $-93.0M | $43.2M |
| Q4 25 | 75.6% | 46.8% | ||
| Q3 25 | 76.2% | 51.4% | ||
| Q2 25 | 75.8% | 49.6% | ||
| Q1 25 | 74.9% | 50.0% | ||
| Q4 24 | 74.0% | 46.5% | ||
| Q3 24 | 77.7% | 53.3% | ||
| Q2 24 | 77.9% | 52.2% | ||
| Q1 24 | 77.4% | 52.4% |
| Q4 25 | 24.7% | 19.4% | ||
| Q3 25 | 24.0% | 13.2% | ||
| Q2 25 | 20.7% | 24.2% | ||
| Q1 25 | 7.1% | 21.9% | ||
| Q4 24 | 0.1% | 24.2% | ||
| Q3 24 | -7.9% | 29.8% | ||
| Q2 24 | -31.7% | 30.3% | ||
| Q1 24 | -127.1% | 27.9% |
| Q4 25 | 16.6% | 13.3% | ||
| Q3 25 | 39.5% | 9.0% | ||
| Q2 25 | 26.7% | 17.8% | ||
| Q1 25 | 20.0% | 14.8% | ||
| Q4 24 | 17.5% | 20.4% | ||
| Q3 24 | -6.7% | 21.1% | ||
| Q2 24 | -9.8% | 20.8% | ||
| Q1 24 | -142.5% | 25.1% |
| Q4 25 | $0.25 | $0.51 | ||
| Q3 25 | $0.50 | $0.37 | ||
| Q2 25 | $0.29 | $0.64 | ||
| Q1 25 | $0.18 | $0.51 | ||
| Q4 24 | $1.23 | $0.74 | ||
| Q3 24 | $-0.05 | $0.78 | ||
| Q2 24 | $-0.05 | $0.73 | ||
| Q1 24 | $-1.77 | $0.81 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $167.6M | $282.8M |
| Total DebtLower is stronger | — | $608.7M |
| Stockholders' EquityBook value | $1.4B | $788.8M |
| Total Assets | $1.5B | $1.6B |
| Debt / EquityLower = less leverage | — | 0.77× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $167.6M | $282.8M | ||
| Q3 25 | $140.4M | $276.2M | ||
| Q2 25 | $162.3M | $231.8M | ||
| Q1 25 | $86.4M | $236.9M | ||
| Q4 24 | $79.6M | $221.6M | ||
| Q3 24 | $126.1M | $250.5M | ||
| Q2 24 | $421.1M | $217.8M | ||
| Q1 24 | $696.1M | $289.6M |
| Q4 25 | — | $608.7M | ||
| Q3 25 | — | $608.6M | ||
| Q2 25 | — | $607.7M | ||
| Q1 25 | — | $603.9M | ||
| Q4 24 | — | $601.6M | ||
| Q3 24 | — | $596.4M | ||
| Q2 24 | — | $586.9M | ||
| Q1 24 | — | $594.0M |
| Q4 25 | $1.4B | $788.8M | ||
| Q3 25 | $1.3B | $776.7M | ||
| Q2 25 | $1.1B | $757.5M | ||
| Q1 25 | $1.0B | $751.3M | ||
| Q4 24 | $964.8M | $732.3M | ||
| Q3 24 | $889.6M | $727.7M | ||
| Q2 24 | $845.3M | $713.3M | ||
| Q1 24 | $808.8M | $672.4M |
| Q4 25 | $1.5B | $1.6B | ||
| Q3 25 | $1.4B | $1.7B | ||
| Q2 25 | $1.3B | $1.6B | ||
| Q1 25 | $1.1B | $1.6B | ||
| Q4 24 | $1.1B | $1.6B | ||
| Q3 24 | $983.1M | $1.5B | ||
| Q2 24 | $915.5M | $1.5B | ||
| Q1 24 | $864.9M | $1.6B |
| Q4 25 | — | 0.77× | ||
| Q3 25 | — | 0.78× | ||
| Q2 25 | — | 0.80× | ||
| Q1 25 | — | 0.80× | ||
| Q4 24 | — | 0.82× | ||
| Q3 24 | — | 0.82× | ||
| Q2 24 | — | 0.82× | ||
| Q1 24 | — | 0.88× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $95.3M | $32.9M |
| Free Cash FlowOCF − Capex | $76.6M | $24.6M |
| FCF MarginFCF / Revenue | 28.3% | 13.4% |
| Capex IntensityCapex / Revenue | 6.9% | 4.5% |
| Cash ConversionOCF / Net Profit | 2.12× | 1.35× |
| TTM Free Cash FlowTrailing 4 quarters | $281.8M | $121.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $95.3M | $32.9M | ||
| Q3 25 | $78.2M | $52.6M | ||
| Q2 25 | $135.4M | $35.6M | ||
| Q1 25 | $10.5M | $35.1M | ||
| Q4 24 | $39.7M | $29.0M | ||
| Q3 24 | $63.5M | $60.0M | ||
| Q2 24 | $29.8M | $69.1M | ||
| Q1 24 | $3.7M | $55.3M |
| Q4 25 | $76.6M | $24.6M | ||
| Q3 25 | $65.9M | $47.2M | ||
| Q2 25 | $133.3M | $25.0M | ||
| Q1 25 | $6.0M | $24.4M | ||
| Q4 24 | $24.3M | $16.6M | ||
| Q3 24 | $46.8M | $46.2M | ||
| Q2 24 | $28.5M | $63.1M | ||
| Q1 24 | $228.0K | $46.5M |
| Q4 25 | 28.3% | 13.4% | ||
| Q3 25 | 28.6% | 24.6% | ||
| Q2 25 | 69.5% | 14.3% | ||
| Q1 25 | 3.7% | 14.3% | ||
| Q4 24 | 17.2% | 8.9% | ||
| Q3 24 | 41.4% | 24.1% | ||
| Q2 24 | 37.1% | 34.6% | ||
| Q1 24 | 0.3% | 27.1% |
| Q4 25 | 6.9% | 4.5% | ||
| Q3 25 | 5.3% | 2.8% | ||
| Q2 25 | 1.1% | 6.1% | ||
| Q1 25 | 2.8% | 6.3% | ||
| Q4 24 | 10.9% | 6.7% | ||
| Q3 24 | 14.8% | 7.2% | ||
| Q2 24 | 1.7% | 3.3% | ||
| Q1 24 | 5.2% | 5.1% |
| Q4 25 | 2.12× | 1.35× | ||
| Q3 25 | 0.86× | 3.03× | ||
| Q2 25 | 2.64× | 1.15× | ||
| Q1 25 | 0.33× | 1.39× | ||
| Q4 24 | 1.61× | 0.76× | ||
| Q3 24 | — | 1.48× | ||
| Q2 24 | — | 1.82× | ||
| Q1 24 | — | 1.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALAB
Segment breakdown not available.
AMPH
| Other Products | $62.4M | 34% |
| Baqsimi | $46.7M | 26% |
| Primatenemist | $27.9M | 15% |
| Epinephrine | $17.1M | 9% |
| Lidocaine | $14.9M | 8% |
| Glucagon | $14.1M | 8% |
