ALABAstera Labs, Inc.
Semiconductors & Related Devices
- Revenue
- $853M
- 115% YoY
- Operating margin
- 20.3%
- 169% YoY
- EBITDA
- $180M
- 260% YoY
- Market cap
- $44.9B
- Employees
- 756
- $1M revenue each
- Net debt / EBITDA
- —
- AI in 10-K
- 13.7
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 2 of 7
- TSR below peersNo0 of 2 years3+ of last 5 years
- High CEO pay despite TSRNo$27M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo146% of net incomeCash flow under 80% of net income
- Dilutive SBCYes19% of revenueOver 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo5% of assetsOver 40% of assets
- Shareholder dissentYes68% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo$1M · 82nd pctBottom quartile of its SIC industry
- Quiet on AINo13.7 per 10K words · 96th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$44.9B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$784M netNet sales over $10M in 12 months
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|
| Revenue | $80M | $116M | $396M | $853M | 115% |
| Operating income | −$60M | −$29M | −$116M | $173M | 249% |
| Net income | −$58M | −$26M | −$83M | $219M | 363% |
| Operating cash flow | −$36M | −$13M | $137M | $319M | 134% |
| Capex | $4M | $3M | $34M | $38M | 9.6% |
| Stock-based comp | $30M | $11M | $235M | $160M | 32% |
| Buybacks | $313K | $210K | $1M | $0 | 100% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $784M · 504
- Net
- −$784M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $2M | $28M | 268 | 150 |
| FY2024 | $51M | $360M | 214 | 105 |