Arista Networks income statement
In fiscal 2025, Arista Networks reported revenue of $9.01bn, up 28.6% on the year before, operating income of $3.86bn (a 42.8% margin) and net income of $3.51bn, or $2.75 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.2 | 0.4 | 0.6 | 0.8 | 1.1 | 1.6 | 2.2 | 2.4 | 2.3 | 2.9 | 4.4 | 5.9 | 7.0 | 9.0 | 10.5 |
| Cost of revenue | 0.1 | 0.1 | 0.2 | 0.3 | 0.4 | 0.6 | 0.8 | 0.9 | 0.8 | 1.1 | 1.7 | 2.2 | 2.5 | 3.2 | 3.9 |
| Gross profit | 0.1 | 0.2 | 0.4 | 0.5 | 0.7 | 1.1 | 1.4 | 1.5 | 1.5 | 1.9 | 2.7 | 3.6 | 4.5 | 5.8 | 6.6 |
| Research and development | 0.1 | 0.1 | 0.1 | 0.2 | 0.3 | 0.3 | 0.4 | 0.5 | 0.5 | 0.6 | 0.7 | 0.9 | 1.0 | 1.2 | 1.4 |
| Selling and marketing | 0.0 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | 0.3 | 0.3 | 0.4 | 0.4 | 0.5 | 0.6 |
| General and administrative | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
| Operating income | 0.0 | 0.1 | 0.1 | 0.1 | 0.2 | 0.5 | 0.3 | 0.8 | 0.7 | 0.9 | 1.5 | 2.3 | 2.9 | 3.9 | 4.5 |
| Interest expense | — | — | — | — | 0.0 | 0.0 | 0.0 | — | — | — | — | — | — | — | — |
| Income before tax | 0.0 | 0.1 | 0.1 | 0.1 | 0.2 | 0.5 | 0.3 | 0.9 | 0.7 | 0.9 | 1.6 | 2.4 | 3.3 | 4.2 | 5.0 |
| Income tax | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | −0.0 | 0.0 | 0.1 | 0.1 | 0.2 | 0.3 | 0.4 | 0.7 | 0.9 |
| Net income | 0.0 | 0.0 | 0.1 | 0.1 | 0.2 | 0.4 | 0.3 | 0.9 | 0.6 | 0.8 | 1.4 | 2.1 | 2.9 | 3.5 | 4.0 |
| Diluted EPS | $0.02 | $0.04 | $0.08 | $0.10 | $0.16 | $0.33 | $0.25 | $0.67 | $0.50 | $0.66 | $1.07 | $1.65 | $2.23 | $2.75 | $3.17 |
| Diluted shares (average) | 398m | 481m | 873m | 1,143m | 1,172m | 1,264m | 1,294m | 1,294m | 1,271m | 1,277m | 1,266m | 1,269m | 1,281m | 1,276m | 1,276m |
| EBITDA | 0.0 | 0.1 | 0.1 | 0.2 | 0.3 | 0.5 | 0.3 | 0.8 | 0.7 | 1.0 | 1.6 | 2.3 | 3.0 | 3.9 | 4.6 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,811 | 1,930 | 2,005 | 2,205 | 2,308 | 2,488 | 2,709 | 3,036 |
| Cost of revenue | 649 | 699 | 729 | 766 | 818 | 924 | 1,032 | 1,125 |
| Gross profit | 1,162 | 1,231 | 1,276 | 1,439 | 1,490 | 1,564 | 1,677 | 1,910 |
| Research and development | 236 | 285 | 266 | 297 | 326 | 348 | 344 | 348 |
| Selling and marketing | 107 | 111 | 117 | 127 | 151 | 139 | 142 | 150 |
| General and administrative | 34 | 35 | 34 | 29 | 35 | 43 | 34 | 34 |
| Operating income | 785 | 800 | 859 | 986 | 978 | 1,033 | 1,158 | 1,378 |
| Income before tax | 883 | 889 | 955 | 1,080 | 1,077 | 1,137 | 1,271 | 1,504 |
| Income tax | 135 | 88 | 141 | 191 | 224 | 182 | 249 | 291 |
| Net income | 748 | 801 | 814 | 889 | 853 | 956 | 1,023 | 1,213 |
| Diluted EPS | $0.58 | $0.63 | $0.64 | $0.70 | $0.67 | $0.75 | $0.80 | $0.95 |
| EBITDA | 794 | 815 | 873 | 994 | 986 | 1,056 | 1,181 | 1,401 |
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