A point-to-point optical link is usually based on a laser beam, where the most common propagation model is the Gaussian beam type. Due to its directional characteristics, minor alignment errors can cause considerable attenuation. The calculation of the misalignment losses involves solving an integral of a Gaussian beam translated over a receiver’s effective surface, leading to a more accurate link budget. Our work proposes a closed-form expression for calculating the geometric and misalignment attenuation, caused by translational movements in circular Gaussian beams.