Astera Labs

treasury and agency securities $ 228,121 $ 54 $ ( 1,003 ) $ 227,172 Commercial paper 19,371 ( 27 ) 19,344 Corporate debt securities 897,382 634 ( 3,027 ) 894,989 Total marketable securities $ 1,144,874 $ 688 $ ( 4,057 ) $ 1,141,505 As of December 31, 2025 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash equivalents Money market funds $ 142,772 $ $ $ 142,772 Commercial paper 5,496 ( 1 ) 5,495 Total cash equivalents $ 148,268 $ $ ( 1 ) $ 148,267 Marketable securities U.

SEC original ↗Astera Labs — 10-Q Quarterly report10-QAug 5, 2026

treasury and agency securities $ 203,175 $ 630 $ ( 11 ) $ 203,794 Commercial paper 11,459 4 ( 1 ) 11,462 Corporate debt securities 802,261 3,800 ( 112 ) 805,949 Total marketable securities $ 1,016,895 $ 4,434 $ ( 124 ) $ 1,021,205 As of June 30, 2026 and December 31, 2025, the Company s marketable securities that were in a continuous loss position for 12 months or more, as well as the unrealized losses on those marketable securities, were not material.

SEC original ↗Astera Labs — 10-Q Quarterly report10-QAug 5, 2026

treasury and agency securities $ $ 227,172 $ 227,172 Commercial paper 19,344 19,344 Corporate debt securities 894,989 894,989 Total marketable securities $ $ 1,141,505 $ 1,141,505 As of December 31, 2025 Level 1 Level 2 Total Fair Value Cash equivalents Money market funds $ 142,772 $ $ 142,772 Commercial paper 5,495 5,495 Total cash equivalents $ 142,772 $ 5,495 $ 148,267 Marketable securities U.

SEC original ↗Astera Labs — 10-Q Quarterly report10-QAug 5, 2026

treasury and agency securities $ $ 203,794 $ 203,794 Commercial paper 11,462 11,462 Corporate debt securities 805,949 805,949 Total marketable securities $ $ 1,021,205 $ 1,021,205 10 Table of Contents As of June 30, 2026 and December 31, 2025, there were no marketable securities with Level 3 fair value hierarchy measurement.

SEC original ↗Astera Labs — 10-Q Quarterly report10-QAug 5, 2026

The per share grant date fair values of the 2026 Warrant were estimated using the following assumptions: 2026 Warrant Expected dividend yield % Risk-free interest rate 4.3 % Expected volatility 54.8 % Expected term (in years) 7.0 Per share fair value of common stock $ 142.82 As of June 30, 2026 and December 31, 2025, an aggregate of 1,663,042 shares and 1,165,513 shares, respectively, of the underlying Warrants were vested and exercisable.

SEC original ↗Astera Labs — 10-Q Quarterly report10-QAug 5, 2026

All statements other than statements of historical fact included in this Quarterly Report on Form 10 Q, including statements regarding our strategy, future operations, financial position, prospects, plans and objectives of management are forward-looking statements.

SEC original ↗Astera Labs — 10-Q Quarterly report10-QAug 5, 2026

Building on years of experience with a singular focus on addressing connectivity challenges in data-centric systems, we have developed and deployed our Intelligent Connectivity Platform built from the ground up for cloud and AI infrastructure.

SEC original ↗Astera Labs — 10-Q Quarterly report10-QAug 5, 2026

These forward-looking statements reflect the current views and assumptions of Astera Labs as of August 5, 2025, and are subject to various assumptions, beliefs, risks and uncertainties that could cause actual results to differ materially from expectations.

SEC original ↗Astera Labs — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Legal Proceedings 29 Item 1A Risk Factors 29 Item 2.

SEC original ↗Astera Labs — 10-Q Quarterly report10-QAug 5, 2026

Exhibits 30 Signatures 31 Table of Contents Special Note about Forward-Looking Statements This Quarterly Report on Form 10 Q contains forward-looking statements within the meaning of the federal securities laws, which are statements that involve substantial risks and uncertainties.

SEC original ↗Astera Labs — 10-Q Quarterly report10-QAug 5, 2026

In some cases, you can identify forward-looking statements because they contain words such as aims, anticipated, believe, budget, can, committed, continued, could, designed, estimates, expect, forecasted, future, growing, indicative, intended, likely, may, mission, opportunities, plan, position, potential, predict, probable, projections, scheduled, should, to be, trends, uncertainty, will, or would, or the negative of these words or other similar terms or expressions.

SEC original ↗Astera Labs — 10-Q Quarterly report10-QAug 5, 2026

Forward-looking statements are subject to risks, uncertainties and other factors described under the heading Risk Factors included in this Quarterly Report on Form 10 Q and those included within our Annual Report on Form 10-K filed with the U.

SEC original ↗Astera Labs — 10-Q Quarterly report10-QAug 5, 2026

New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this Quarterly Report on Form 10-Q.

SEC original ↗Astera Labs — 10-Q Quarterly report10-QAug 5, 2026