Astera Labs shares sank 10.3% in extended trading on Tuesday after the tech company reported fourth-quarter results that topped Wall Street's forecast, and announced a shake up of its management team.

For the period ending Dec. 31, Astera said it earned an adjusted $0.58 per share as revenue soared 91.8% year-over-year to come in at $270.6M. Analysts had expected the company to earn an adjusted $0.51 per share on $249.55M in revenue.

“Astera Labs delivered strong financial results in Q4 with revenue growing by 17% sequentially to a new record level of $270.6 million, highlighting a stellar 2025 with full-year revenue growth of 115% year-over-year,” said Jitendra Mohan, Astera Labs’ Chief Executive Officer, in a statement. “The market opportunity for our Intelligent Connectivity Platform continues to grow rapidly, encompassing multiple product lines, physical media, form factors, and protocols for standard and custom applications. Considering the strong customer momentum and revenue opportunities, Astera Labs is accelerating R&D investment, including opening a new design center in Israel to further capitalize on this high-growth market opportunity.”

Looking ahead to the first-quarter of fiscal 2026, Astera expects to earn an adjusted $0.53 or $0.54 per share, with revenue between $286M and $297M. Analysts had expected the company to earn an adjusted $0.52 per share on $260.2M in revenue.

In addition, Astera announced CFO Mike Tate will transition from his role to become a full-time strategic advisor to the CEO. He will be replaced by Desmond Lynch, who formerly worked at Rambus. Separately, Rambus reconfirmed its guidance that it issued on Feb. 2.