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Astera Labs posts 93% YoY sales growth as Navitas revenue slumps
Astera Labs expanded its Taiwan operations and added the Nasdaq-100 Index, while Navitas shifted focus away from China mobile and consumer revenue that made up 60% of 2024 sales.
Astera Labs, which develops connectivity solutions for deploying high performance cloud and AI systems, reported 93% year over year sales growth in the first quarter and a 26% net income margin for the quarter ended March 31, 2026, according to a Motley Fool analysis published by Yahoo Finance.
The report also points to Astera Labs expanding its Taiwan operations and related facilities to support system integration with local manufacturers, and notes the company was added to the Nasdaq-100 Index.
Navitas Semiconductor, which designs gallium nitride power integrated circuits and related components for power conversion and charging applications, faced a new patent infringement lawsuit filed by Wolfspeed and issued earn out shares to satisfy contingent obligations, the analysis said.
On the operating side, Navitas reported a negative 318% EBIT margin for the quarter ended March 31, 2026, and the piece attributes its sales decline to a strategic shift away from its mobile and consumer businesses in China, which accounted for 60% of its revenue in 2024.
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