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Side-by-side financial comparison of Astera Labs, Inc. (ALAB) and Fat Brands, Inc (FAT). Click either name above to swap in a different company.
Astera Labs, Inc. is the larger business by last-quarter revenue ($270.6M vs $140.0M, roughly 1.9× Fat Brands, Inc). Astera Labs, Inc. runs the higher net margin — 16.6% vs -41.6%, a 58.2% gap on every dollar of revenue. On growth, Astera Labs, Inc. posted the faster year-over-year revenue change (91.8% vs -2.3%). Astera Labs, Inc. produced more free cash flow last quarter ($76.6M vs $-16.9M). Over the past eight quarters, Astera Labs, Inc.'s revenue compounded faster (103.6% CAGR vs -6.1%).
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.
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
ALAB vs FAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $270.6M | $140.0M |
| Net Profit | $45.0M | $-58.2M |
| Gross Margin | 75.6% | — |
| Operating Margin | 24.7% | -12.4% |
| Net Margin | 16.6% | -41.6% |
| Revenue YoY | 91.8% | -2.3% |
| Net Profit YoY | 82.0% | -30.1% |
| EPS (diluted) | $0.25 | $-3.39 |
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 | — | ||
| Q3 25 | $230.6M | $140.0M | ||
| Q2 25 | $191.9M | $146.8M | ||
| Q1 25 | $159.4M | $142.0M | ||
| Q4 24 | $141.1M | $145.3M | ||
| Q3 24 | $113.1M | $143.4M | ||
| Q2 24 | $76.8M | $152.0M | ||
| Q1 24 | $65.3M | $152.0M |
| Q4 25 | $45.0M | — | ||
| Q3 25 | $91.1M | $-58.2M | ||
| Q2 25 | $51.2M | $-54.2M | ||
| Q1 25 | $31.8M | $-46.0M | ||
| Q4 24 | $24.7M | $-67.4M | ||
| Q3 24 | $-7.6M | $-44.8M | ||
| Q2 24 | $-7.5M | $-39.4M | ||
| Q1 24 | $-93.0M | $-38.3M |
| Q4 25 | 75.6% | — | ||
| Q3 25 | 76.2% | — | ||
| Q2 25 | 75.8% | — | ||
| Q1 25 | 74.9% | — | ||
| Q4 24 | 74.0% | — | ||
| Q3 24 | 77.7% | — | ||
| Q2 24 | 77.9% | — | ||
| Q1 24 | 77.4% | — |
| Q4 25 | 24.7% | — | ||
| Q3 25 | 24.0% | -12.4% | ||
| Q2 25 | 20.7% | -10.6% | ||
| Q1 25 | 7.1% | -6.0% | ||
| Q4 24 | 0.1% | -27.1% | ||
| Q3 24 | -7.9% | -6.2% | ||
| Q2 24 | -31.7% | -1.8% | ||
| Q1 24 | -127.1% | -0.9% |
| Q4 25 | 16.6% | — | ||
| Q3 25 | 39.5% | -41.6% | ||
| Q2 25 | 26.7% | -36.9% | ||
| Q1 25 | 20.0% | -32.4% | ||
| Q4 24 | 17.5% | -46.4% | ||
| Q3 24 | -6.7% | -31.2% | ||
| Q2 24 | -9.8% | -25.9% | ||
| Q1 24 | -142.5% | -25.2% |
| Q4 25 | $0.25 | — | ||
| Q3 25 | $0.50 | $-3.39 | ||
| Q2 25 | $0.29 | $-3.17 | ||
| Q1 25 | $0.18 | $-2.73 | ||
| Q4 24 | $1.23 | $-4.06 | ||
| Q3 24 | $-0.05 | $-2.74 | ||
| Q2 24 | $-0.05 | $-2.43 | ||
| Q1 24 | $-1.77 | $-2.37 |
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 | — |
| Total DebtLower is stronger | — | $1.3B |
| Stockholders' EquityBook value | $1.4B | $-585.8M |
| Total Assets | $1.5B | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $167.6M | — | ||
| Q3 25 | $140.4M | — | ||
| Q2 25 | $162.3M | — | ||
| Q1 25 | $86.4M | — | ||
| Q4 24 | $79.6M | — | ||
| Q3 24 | $126.1M | — | ||
| Q2 24 | $421.1M | — | ||
| Q1 24 | $696.1M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.3B | $-585.8M | ||
| Q2 25 | $1.1B | $-536.5M | ||
| Q1 25 | $1.0B | $-493.9M | ||
| Q4 24 | $964.8M | $-455.7M | ||
| Q3 24 | $889.6M | $-386.1M | ||
| Q2 24 | $845.3M | $-338.6M | ||
| Q1 24 | $808.8M | $-296.8M |
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.4B | $1.2B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.1B | $1.3B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $983.1M | $1.3B | ||
| Q2 24 | $915.5M | $1.4B | ||
| Q1 24 | $864.9M | $1.4B |
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 | $-14.5M |
| Free Cash FlowOCF − Capex | $76.6M | $-16.9M |
| FCF MarginFCF / Revenue | 28.3% | -12.1% |
| Capex IntensityCapex / Revenue | 6.9% | 1.7% |
| Cash ConversionOCF / Net Profit | 2.12× | — |
| TTM Free Cash FlowTrailing 4 quarters | $281.8M | $-75.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $95.3M | — | ||
| Q3 25 | $78.2M | $-14.5M | ||
| Q2 25 | $135.4M | $-26.9M | ||
| Q1 25 | $10.5M | $-13.2M | ||
| Q4 24 | $39.7M | $-10.4M | ||
| Q3 24 | $63.5M | $-3.2M | ||
| Q2 24 | $29.8M | $-14.2M | ||
| Q1 24 | $3.7M | $-28.4M |
| Q4 25 | $76.6M | — | ||
| Q3 25 | $65.9M | $-16.9M | ||
| Q2 25 | $133.3M | $-29.3M | ||
| Q1 25 | $6.0M | $-17.8M | ||
| Q4 24 | $24.3M | $-11.0M | ||
| Q3 24 | $46.8M | $-11.1M | ||
| Q2 24 | $28.5M | $-24.4M | ||
| Q1 24 | $228.0K | $-32.5M |
| Q4 25 | 28.3% | — | ||
| Q3 25 | 28.6% | -12.1% | ||
| Q2 25 | 69.5% | -20.0% | ||
| Q1 25 | 3.7% | -12.5% | ||
| Q4 24 | 17.2% | -7.6% | ||
| Q3 24 | 41.4% | -7.7% | ||
| Q2 24 | 37.1% | -16.1% | ||
| Q1 24 | 0.3% | -21.4% |
| Q4 25 | 6.9% | — | ||
| Q3 25 | 5.3% | 1.7% | ||
| Q2 25 | 1.1% | 1.6% | ||
| Q1 25 | 2.8% | 3.2% | ||
| Q4 24 | 10.9% | 0.4% | ||
| Q3 24 | 14.8% | 5.5% | ||
| Q2 24 | 1.7% | 6.7% | ||
| Q1 24 | 5.2% | 2.7% |
| Q4 25 | 2.12× | — | ||
| Q3 25 | 0.86× | — | ||
| Q2 25 | 2.64× | — | ||
| Q1 25 | 0.33× | — | ||
| Q4 24 | 1.61× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALAB
Segment breakdown not available.
FAT
| Restaurant Sales | $96.6M | 69% |
| Royalty | $21.6M | 15% |
| Factory | $9.6M | 7% |
| Advertising | $9.1M | 7% |
| Franchisor | $1.5M | 1% |
| Other | $1.5M | 1% |
