{ "ticker": "ANET", "cik": "0001596532", "company": "Arista Networks, Inc.", "business_type": "industrial", "schema_template": "standard (technology hardware / networking)", "reporting_currency": "USD", "converted_to_usd": false, "units": "actual dollars (not millions)", "units_notes_seen": { "FY2025 10-K consolidated balance sheets": "(In millions, except par value)", "FY2025 10-K consolidated statements of income": "(In millions, except per share amounts)", "FY2025 10-K consolidated statements of stockholders' equity": "(In millions)", "FY2025 10-K consolidated statements of cash flows": "(In millions)", "Q2 FY2026 10-Q condensed consolidated balance sheets": "(In millions, except par value)", "Q2 FY2026 10-Q condensed consolidated income statements": "(Unaudited, in millions, except per share amounts)", "Q2 FY2026 10-Q condensed consolidated statements of stockholders' equity": "(Unaudited, in millions)", "Q2 FY2026 10-Q condensed consolidated statements of cash flows": "(Unaudited, in millions)", "Q1 FY2026 results furnished on Form 8-K, condensed consolidated income statements": "(Unaudited, in millions, except per share amounts)", "Q3 FY2025 results furnished on Form 8-K, condensed consolidated income statements": "(Unaudited, in millions, except per share amounts)", "Q3 FY2025 results furnished on Form 8-K, condensed consolidated balance sheets": "(Unaudited, in millions)", "Q4 FY2025 results furnished on Form 8-K, condensed consolidated statements of income": "(Unaudited, in millions, except per share amounts)", "Q4 FY2025 results furnished on Form 8-K, condensed consolidated balance sheets": "(Unaudited, in millions)" }, "adjustments": { "splits_applied": [], "adr_ratio": null, "fx": "none \u2014 Arista reports in U.S. dollars", "note": "Arista split its common stock four-for-one in November 2021 and again in December 2024 (announced November 7, 2024 and effected December 3, 2024 by an amendment to its certificate of incorporation). No split adjustment was applied here because the FY2025 Form 10-K retroactively restates all three years it presents \u2014 2023, 2024 and 2025 \u2014 on a post-split basis, as do the quarterly filings and press releases used here, so every share count and per-share amount in this record is already stated post-split and on the same basis." }, "annual": [ { "fiscal_year": 2023, "label": "FY2023", "period_start": "2023-01-01", "period_end": "2023-12-31", "period_type": "fiscal year", "source_accession": "0001596532-26-000013", "income_statement": { "product_revenue": 5029500000, "service_revenue": 830700000, "total_revenue": 5860200000, "product_cost_of_revenue": 2061200000, "service_cost_of_revenue": 168700000, "total_cost_of_revenue": 2229900000, "gross_profit": 3630300000, "research_and_development": 854900000, "sales_and_marketing": 399000000, "general_and_administrative": 119100000, "total_operating_expenses": 1373000000, "operating_income": 2257300000, "other_income_net": 164700000, "income_before_income_taxes": 2422000000, "provision_for_income_taxes": 334700000, "net_income": 2087300000, "basic_eps": 1.69, "diluted_eps": 1.65, "basic_shares": 1237400000, "diluted_shares": 1268500000 }, "balance_sheet": { "shares_outstanding": 1249000000, "total_equity": 7219000000, "total_debt": 0 }, "cash_flow": { "depreciation_and_amortization": 70600000, "stock_based_compensation": 296800000, "operating_cash_flow": 2034000000, "capex": -34400000, "free_cash_flow": 1999600000, "share_repurchases": -112300000, "dividends_paid": 0, "cash_and_equivalents_and_restricted_cash_end_of_period": 1939500000 } }, { "fiscal_year": 2024, "label": "FY2024", "period_start": "2024-01-01", "period_end": "2024-12-31", "period_type": "fiscal year", "source_accession": "0001596532-26-000013", "income_statement": { "product_revenue": 5884000000, "service_revenue": 1119100000, "total_revenue": 7003100000, "product_cost_of_revenue": 2299000000, "service_cost_of_revenue": 212800000, "total_cost_of_revenue": 2511800000, "gross_profit": 4491300000, "research_and_development": 996700000, "sales_and_marketing": 427300000, "general_and_administrative": 122700000, "total_operating_expenses": 1546700000, "operating_income": 2944600000, "other_income_net": 320500000, "income_before_income_taxes": 3265100000, "provision_for_income_taxes": 413000000, "net_income": 2852100000, "basic_eps": 2.27, "diluted_eps": 2.23, "basic_shares": 1256300000, "diluted_shares": 1281100000 }, "balance_sheet": { "cash_and_cash_equivalents": 2762400000, "marketable_securities": 5541100000, "accounts_receivable_net": 1140500000, "inventories": 1834600000, "total_current_assets": 11910900000, "total_assets": 14043900000, "accounts_payable": 381100000, "deferred_revenue_current": 1727300000, "total_current_liabilities": 2732200000, "deferred_revenue_noncurrent": 1064100000, "total_liabilities": 4049100000, "total_equity": 9994800000, "total_debt": 0, "shares_outstanding": 1261300000 }, "cash_flow": { "depreciation_and_amortization": 62000000, "stock_based_compensation": 355400000, "operating_cash_flow": 3708200000, "capex": -32000000, "free_cash_flow": 3676200000, "share_repurchases": -423600000, "dividends_paid": 0, "cash_and_equivalents_and_restricted_cash_end_of_period": 2763800000 } }, { "fiscal_year": 2025, "label": "FY2025", "period_start": "2025-01-01", "period_end": "2025-12-31", "period_type": "fiscal year", "source_accession": "0001596532-26-000013", "income_statement": { "product_revenue": 7576900000, "service_revenue": 1428800000, "total_revenue": 9005700000, "product_cost_of_revenue": 2978700000, "service_cost_of_revenue": 258300000, "total_cost_of_revenue": 3237000000, "gross_profit": 5768700000, "research_and_development": 1237300000, "sales_and_marketing": 533400000, "general_and_administrative": 141900000, "total_operating_expenses": 1912600000, "operating_income": 3856100000, "other_income_net": 393600000, "income_before_income_taxes": 4249700000, "provision_for_income_taxes": 738300000, "net_income": 3511400000, "basic_eps": 2.79, "diluted_eps": 2.75, "basic_shares": 1258000000, "diluted_shares": 1275700000 }, "balance_sheet": { "cash_and_cash_equivalents": 1963900000, "marketable_securities": 8779100000, "accounts_receivable_net": 1886900000, "inventories": 2247100000, "total_current_assets": 16387000000, "total_assets": 19448600000, "accounts_payable": 651700000, "deferred_revenue_current": 4002600000, "total_current_liabilities": 5376500000, "deferred_revenue_noncurrent": 1369800000, "total_liabilities": 7078100000, "total_equity": 12370500000, "total_debt": 0, "shares_outstanding": 1256500000 }, "cash_flow": { "depreciation_and_amortization": 72600000, "stock_based_compensation": 439200000, "operating_cash_flow": 4371900000, "capex": -119500000, "free_cash_flow": 4252400000, "share_repurchases": -1603100000, "dividends_paid": 0, "cash_and_equivalents_and_restricted_cash_end_of_period": 1965300000 } } ], "quarterly": [ { "fiscal_year": 2025, "label": "Q1 FY2025", "period_start": "2025-01-01", "period_end": "2025-03-31", "period_type": "three months", "source_accession": "0001596532-26-000175; 0001596532-26-000074", "income_statement": { "product_revenue": 1692500000, "service_revenue": 312300000, "total_revenue": 2004800000, "product_cost_of_revenue": 672700000, "service_cost_of_revenue": 56000000, "total_cost_of_revenue": 728700000, "gross_profit": 1276100000, "research_and_development": 266400000, "sales_and_marketing": 116600000, "general_and_administrative": 34300000, "total_operating_expenses": 417300000, "operating_income": 858800000, "other_income_net": 96200000, "income_before_income_taxes": 955000000, "provision_for_income_taxes": 141200000, "net_income": 813800000, "basic_eps": 0.65, "diluted_eps": 0.64, "basic_shares": 1260000000, "diluted_shares": 1279200000 }, "derivation": "Income statement lines are the six-month column of the Q2 FY2026 Form 10-Q (accession 0001596532-26-000175) less the corresponding three-month column, line by line. Every derived line matches the first-quarter income statement Arista furnished on Form 8-K (accession 0001596532-26-000074); the per-share amounts and weighted-average share counts, which cannot be obtained by subtraction, are taken from that same release." }, { "fiscal_year": 2025, "label": "Q2 FY2025", "period_start": "2025-04-01", "period_end": "2025-06-30", "period_type": "three months", "source_accession": "0001596532-26-000175", "income_statement": { "product_revenue": 1877000000, "service_revenue": 327800000, "total_revenue": 2204800000, "product_cost_of_revenue": 707300000, "service_cost_of_revenue": 58900000, "total_cost_of_revenue": 766200000, "gross_profit": 1438600000, "research_and_development": 296500000, "sales_and_marketing": 126500000, "general_and_administrative": 29400000, "total_operating_expenses": 452400000, "operating_income": 986200000, "other_income_net": 94000000, "income_before_income_taxes": 1080200000, "provision_for_income_taxes": 191400000, "net_income": 888800000, "basic_eps": 0.71, "diluted_eps": 0.7, "basic_shares": 1256300000, "diluted_shares": 1271200000 }, "balance_sheet": { "shares_outstanding": 1256800000, "total_equity": 10901600000, "total_debt": 0 } }, { "fiscal_year": 2025, "label": "Q3 FY2025", "period_start": "2025-07-01", "period_end": "2025-09-30", "period_type": "three months", "source_accession": "0001596532-25-000284", "income_statement": { "product_revenue": 1911700000, "service_revenue": 396600000, "total_revenue": 2308300000, "product_cost_of_revenue": 745500000, "service_cost_of_revenue": 72600000, "total_cost_of_revenue": 818100000, "gross_profit": 1490200000, "research_and_development": 326000000, "sales_and_marketing": 151200000, "general_and_administrative": 34800000, "total_operating_expenses": 512000000, "operating_income": 978200000, "other_income_net": 98900000, "income_before_income_taxes": 1077100000, "provision_for_income_taxes": 224100000, "net_income": 853000000, "basic_eps": 0.68, "diluted_eps": 0.67, "basic_shares": 1258000000, "diluted_shares": 1276600000 }, "balance_sheet": { "cash_and_cash_equivalents": 2326600000, "marketable_securities": 7779600000, "accounts_receivable_net": 1489400000, "inventories": 2155700000, "total_current_assets": 15184800000, "total_assets": 18048800000, "accounts_payable": 481000000, "deferred_revenue_current": 3520700000, "total_current_liabilities": 4666600000, "deferred_revenue_noncurrent": 1165500000, "total_liabilities": 6141700000, "total_equity": 11907100000, "total_debt": 0 }, "derivation": "Read directly from the three months ended September 30, 2025 column of the condensed consolidated income statements in the third-quarter results Arista furnished on Form 8-K (accession 0001596532-25-000284, Exhibit 99.1), and the balance sheet at September 30, 2025 in the same exhibit. That release reports cash flows only for the nine months then ended, so no three-month cash flow is shown for this quarter." }, { "fiscal_year": 2025, "label": "Q4 FY2025", "period_start": "2025-10-01", "period_end": "2025-12-31", "period_type": "three months", "source_accession": "0001596532-26-000010", "income_statement": { "product_revenue": 2095700000, "service_revenue": 392100000, "total_revenue": 2487800000, "product_cost_of_revenue": 853200000, "service_cost_of_revenue": 70800000, "total_cost_of_revenue": 924000000, "gross_profit": 1563800000, "research_and_development": 348400000, "sales_and_marketing": 139100000, "general_and_administrative": 43400000, "total_operating_expenses": 530900000, "operating_income": 1032900000, "other_income_net": 104500000, "income_before_income_taxes": 1137400000, "provision_for_income_taxes": 181600000, "net_income": 955800000, "basic_eps": 0.76, "diluted_eps": 0.75, "basic_shares": 1257800000, "diluted_shares": 1275800000 }, "balance_sheet": { "cash_and_cash_equivalents": 1963900000, "marketable_securities": 8779100000, "accounts_receivable_net": 1886900000, "inventories": 2247100000, "total_current_assets": 16387000000, "total_assets": 19448600000, "accounts_payable": 651700000, "deferred_revenue_current": 4002600000, "total_current_liabilities": 5376500000, "deferred_revenue_noncurrent": 1369800000, "total_liabilities": 7078100000, "total_equity": 12370500000, "total_debt": 0 }, "derivation": "Read directly from the three months ended December 31, 2025 column of the condensed consolidated statements of income in the fourth-quarter and full-year results Arista furnished on Form 8-K (accession 0001596532-26-000010, Exhibit 99.1), and the balance sheet at December 31, 2025 in the same exhibit, which agrees line for line with the audited balance sheet in the FY2025 Form 10-K. That release reports cash flows only for the twelve months then ended, so no three-month cash flow is shown for this quarter." }, { "fiscal_year": 2026, "label": "Q1 FY2026", "period_start": "2026-01-01", "period_end": "2026-03-31", "period_type": "three months", "source_accession": "0001596532-26-000175; 0001596532-26-000074", "income_statement": { "product_revenue": 2311300000, "service_revenue": 397700000, "total_revenue": 2709000000, "product_cost_of_revenue": 961900000, "service_cost_of_revenue": 70300000, "total_cost_of_revenue": 1032200000, "gross_profit": 1676800000, "research_and_development": 343700000, "sales_and_marketing": 141600000, "general_and_administrative": 33700000, "total_operating_expenses": 519000000, "operating_income": 1157800000, "other_income_net": 113600000, "income_before_income_taxes": 1271400000, "provision_for_income_taxes": 248500000, "net_income": 1022900000, "basic_eps": 0.81, "diluted_eps": 0.8, "basic_shares": 1257700000, "diluted_shares": 1273800000 }, "derivation": "Income statement lines are the six-month column of the Q2 FY2026 Form 10-Q (accession 0001596532-26-000175) less the corresponding three-month column, line by line. Every derived line matches the first-quarter income statement Arista furnished on Form 8-K (accession 0001596532-26-000074); the per-share amounts and weighted-average share counts, which cannot be obtained by subtraction, are taken from that same release." }, { "fiscal_year": 2026, "label": "Q2 FY2026", "period_start": "2026-04-01", "period_end": "2026-06-30", "period_type": "three months", "source_accession": "0001596532-26-000175", "income_statement": { "product_revenue": 2605200000, "service_revenue": 430500000, "total_revenue": 3035700000, "product_cost_of_revenue": 1047500000, "service_cost_of_revenue": 77900000, "total_cost_of_revenue": 1125400000, "gross_profit": 1910300000, "research_and_development": 348200000, "sales_and_marketing": 150300000, "general_and_administrative": 33800000, "total_operating_expenses": 532300000, "operating_income": 1378000000, "other_income_net": 126300000, "income_before_income_taxes": 1504300000, "provision_for_income_taxes": 291400000, "net_income": 1212900000, "basic_eps": 0.96, "diluted_eps": 0.95, "basic_shares": 1260100000, "diluted_shares": 1276000000 }, "balance_sheet": { "cash_and_cash_equivalents": 2290200000, "marketable_securities": 11053100000, "accounts_receivable_net": 2266200000, "inventories": 2535300000, "total_current_assets": 20163400000, "total_assets": 23720100000, "accounts_payable": 692700000, "deferred_revenue_current": 5100700000, "total_current_liabilities": 6818400000, "deferred_revenue_noncurrent": 1765200000, "total_liabilities": 8922400000, "total_equity": 14797700000, "total_debt": 0, "shares_outstanding": 1261200000 } } ], "year_to_date": { "fiscal_year": 2026, "label": "Six months ended June 30, 2026", "period_start": "2026-01-01", "period_end": "2026-06-30", "period_type": "six months", "source_accession": "0001596532-26-000175", "income_statement": { "product_revenue": 4916500000, "service_revenue": 828200000, "total_revenue": 5744700000, "product_cost_of_revenue": 2009400000, "service_cost_of_revenue": 148200000, "total_cost_of_revenue": 2157600000, "gross_profit": 3587100000, "research_and_development": 691900000, "sales_and_marketing": 291900000, "general_and_administrative": 67500000, "total_operating_expenses": 1051300000, "operating_income": 2535800000, "other_income_net": 239900000, "income_before_income_taxes": 2775700000, "provision_for_income_taxes": 539900000, "net_income": 2235800000, "basic_eps": 1.78, "diluted_eps": 1.75, "basic_shares": 1258900000, "diluted_shares": 1274900000 }, "cash_flow": { "depreciation_and_amortization": 46700000, "stock_based_compensation": 241300000, "operating_cash_flow": 2776500000, "capex": -84200000, "free_cash_flow": 2692300000, "share_repurchases": 0, "dividends_paid": 0, "cash_and_equivalents_and_restricted_cash_end_of_period": 2291600000 }, "derivation": "Read directly from the six-month columns of the Q2 FY2026 Form 10-Q (accession 0001596532-26-000175)." }, "trailing_twelve_months": { "fiscal_year": 2026, "label": "Trailing twelve months ended June 30, 2026", "period_start": "2025-07-01", "period_end": "2026-06-30", "period_type": "trailing twelve months", "source_accession": "0001596532-26-000013; 0001596532-26-000175", "income_statement": { "product_revenue": 8923900000, "service_revenue": 1616900000, "total_revenue": 10540800000, "product_cost_of_revenue": 3608100000, "service_cost_of_revenue": 291600000, "total_cost_of_revenue": 3899700000, "gross_profit": 6641100000, "research_and_development": 1366300000, "sales_and_marketing": 582200000, "general_and_administrative": 145700000, "total_operating_expenses": 2094200000, "operating_income": 4546900000, "other_income_net": 443300000, "income_before_income_taxes": 4990200000, "provision_for_income_taxes": 945600000, "net_income": 4044600000, "diluted_eps": 3.17, "diluted_shares": 1275400000 }, "cash_flow": { "depreciation_and_amortization": 92700000, "stock_based_compensation": 502300000, "operating_cash_flow": 5306600000, "capex": -151300000, "free_cash_flow": 5155300000, "share_repurchases": -620100000, "dividends_paid": 0 }, "derivation": "FY2025 as reported in the Form 10-K (accession 0001596532-26-000013) plus the six months ended June 30, 2026 less the six months ended June 30, 2025, both from the Form 10-Q (accession 0001596532-26-000175). The diluted share count is combined the same way, and trailing diluted earnings per share is trailing net income divided by that count, so it is an approximation rather than a figure Arista reports." }, "notes": [ "Schema: the standard operating-company template (revenue, cost of revenue, gross profit, operating expenses, net income, per-share amounts; balance sheet; cash flow). Arista sells networking hardware and software with an attached support business, and reports as a single segment, so product and service are shown separately on both revenue and cost of revenue.", "All amounts are in actual U.S. dollars. The statements are printed in millions \u2014 share counts included \u2014 and those printed amounts have been scaled up here, so $9,005.7 million of FY2025 revenue appears as 9,005,700,000. Per-share amounts are left as printed.", "Annual figures are from the FY2025 Form 10-K (accession 0001596532-26-000013). It presents three years of income statement and cash flow (2023, 2024 and 2025) but only two years of balance sheet (December 31, 2025 and 2024).", "FY2023 therefore carries only the equity and share balances the statement of stockholders' equity shows at December 31, 2023; the rest of that year's balance sheet is not presented in this 10-K, and no earlier annual report was used.", "The 2026 quarters and the year-ago second quarter come from the Q2 FY2026 Form 10-Q (accession 0001596532-26-000175), which prints the three and six months ended June 30, 2026 and June 30, 2025. Q1 FY2026 and Q1 FY2025 are derived by subtracting each three-month column from the matching six-month column; every derived line agrees exactly with the first-quarter results Arista furnished on Form 8-K (accession 0001596532-26-000074), from which the per-share amounts and share counts for those two quarters are taken.", "Q3 FY2025 and Q4 FY2025 are taken from Arista's own quarterly results releases, furnished on Form 8-K: the three months ended September 30, 2025 from accession 0001596532-25-000284 and the three months ended December 31, 2025 from accession 0001596532-26-000010. These are press-release figures rather than 10-Q figures, but they are the same statements in the same format; the four quarters of 2025 add up exactly to the audited full year on every additive income-statement line, including revenue of $9,005.7 million and net income of $3,511.4 million. Per-share amounts and weighted-average share counts are averages rather than totals and so do not sum: the four quarterly diluted per-share figures add to $2.76 against the $2.75 reported for the full year.", "Balance sheets appear only where a filing dates one: December 31, 2024 and 2025 in the 10-K, September 30, 2025 and December 31, 2025 in the third- and fourth-quarter results releases, and June 30, 2026 in the 10-Q. For Q2 FY2025 only total stockholders' equity and shares outstanding are available, from the statement of stockholders' equity. The results releases do not print a share count on the balance sheet, so Q3 and Q4 FY2025 carry no shares outstanding.", "Cash flow is reported for the full year in the 10-K, for the nine and twelve months in the third- and fourth-quarter results releases, and for the six months in the 10-Q. Arista does not publish a three-month cash flow statement, so no discrete quarter carries one; the six-month cash flow is in the year-to-date block.", "Arista has no borrowings. No balance sheet reported here shows short-term or long-term debt, so total debt is zero in every period, and the company states it has never declared or paid a cash dividend, so dividends paid is zero in every period.", "Capital expenditures and share repurchases are shown as negative amounts, matching the cash flow statement's presentation of cash outflows. Free cash flow is operating cash flow less capital expenditures. The capital expenditure line is 'Purchases of property, equipment and intangible assets' in the 10-K and 'Purchases of property and equipment' in the 10-Q.", "The cash figure in the cash flow block is the statement's own 'Cash, cash equivalents and restricted cash' total, which is slightly larger than balance-sheet cash because it includes restricted cash.", "The 10-Q's comparative FY2025 columns agree with the FY2025 10-K, and the 10-Q's December 31, 2025 balance sheet agrees line for line with the audited one, so nothing on record was restated. The 10-Q notes only routine reclassifications to conform prior-period presentation, which did not change any figure reported here." ], "uncertainties": [ "FY2023 has no full balance sheet. Total assets, cash, liabilities and the rest of that year's balance sheet are not presented in the FY2025 10-K, and only total stockholders' equity and shares outstanding at December 31, 2023 are reported here.", "Q1 FY2026 and Q1 FY2025 income statements are derived by subtraction rather than read from a quarterly statement. They match Arista's own first-quarter release exactly, but they are arithmetic, and neither quarter has a balance sheet or a cash flow statement.", "No quarter carries a discrete three-month cash flow statement, because Arista reports interim cash flows only on a cumulative year-to-date basis. Quarter-level operating cash flow, capital expenditure and free cash flow are therefore unavailable.", "Trailing-twelve-month diluted earnings per share of $3.17 is computed as trailing net income over a trailing diluted share count, not reported by Arista. Combining the reported per-share amounts the same way gives $3.16; the one-cent gap is rounding.", "Statements are printed to the nearest $0.1 million, so a total can differ by $0.1 million from the sum of its components, and derived figures inherit that rounding." ], "headline": { "period": "Q2 FY2026", "period_end_words": "June 30, 2026", "metrics": [ { "label": "Revenue", "format": "usd", "value": 3035700000, "text": "$3.04 billion", "exact": "$3,035,700,000", "compact": "$3.04B", "abs": "$3.04 billion", "prior_value": 2204800000, "prior": "$2.20 billion", "priorabs": "$2.20 billion", "yoy": "up 37.7%", "source": { "array": "quarterly", "field": "income_statement.total_revenue", "index": 5, "period_label": "Q2 FY2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0001596532-26-000175", "prior_index": 1, "prior_period_label": "Q2 FY2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0001596532-26-000175", "gap_days": 365 } }, { "label": "Net income", "format": "usd", "value": 1212900000, "text": "$1.21 billion", "exact": "$1,212,900,000", "compact": "$1.21B", "abs": "$1.21 billion", "prior_value": 888800000, "prior": "$888.80 million", "priorabs": "$888.80 million", "yoy": "up 36.5%", "source": { "array": "quarterly", "field": "income_statement.net_income", "index": 5, "period_label": "Q2 FY2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0001596532-26-000175", "prior_index": 1, "prior_period_label": "Q2 FY2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0001596532-26-000175", "gap_days": 365 } }, { "label": "Diluted EPS", "format": "eps", "value": 0.95, "text": "$0.95", "exact": "$0.95", "compact": "$0.95", "abs": "$0.95", "prior_value": 0.7, "prior": "$0.70", "priorabs": "$0.70", "yoy": "up 35.7%", "source": { "array": "quarterly", "field": "income_statement.diluted_eps", "index": 5, "period_label": "Q2 FY2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0001596532-26-000175", "prior_index": 1, "prior_period_label": "Q2 FY2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0001596532-26-000175", "gap_days": 365 } }, { "label": "Gross profit", "format": "usd", "value": 1910300000, "text": "$1.91 billion", "exact": "$1,910,300,000", "compact": "$1.91B", "abs": "$1.91 billion", "prior_value": 1438600000, "prior": "$1.44 billion", "priorabs": "$1.44 billion", "yoy": "up 32.8%", "source": { "array": "quarterly", "field": "income_statement.gross_profit", "index": 5, "period_label": "Q2 FY2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0001596532-26-000175", "prior_index": 1, "prior_period_label": "Q2 FY2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0001596532-26-000175", "gap_days": 365 } }, { "label": "Operating income", "format": "usd", "value": 1378000000, "text": "$1.38 billion", "exact": "$1,378,000,000", "compact": "$1.38B", "abs": "$1.38 billion", "prior_value": 986200000, "prior": "$986.20 million", "priorabs": "$986.20 million", "yoy": "up 39.7%", "source": { "array": "quarterly", "field": "income_statement.operating_income", "index": 5, "period_label": "Q2 FY2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0001596532-26-000175", "prior_index": 1, "prior_period_label": "Q2 FY2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0001596532-26-000175", "gap_days": 365 } } ], "summary": "Arista Networks reported $3.04 billion in revenue for Q2 FY2026, the quarter ended June 30, 2026, up 37.7% from $2.20 billion a year earlier, as demand for its Ethernet switching and routing platforms from AI and cloud data center customers kept building. Net income was $1.21 billion, up 36.5%, and diluted earnings per share was $0.95 against $0.70. Gross profit of $1.91 billion was up 32.8%, a slower pace than revenue, because a heavier mix of sales to large end customers on higher discounts left gross margin below the year-ago level, while operating income of $1.38 billion was up 39.7%, ahead of revenue growth, as operating expenses rose well behind the top line.", "qa": [ { "q": "How much revenue did Arista Networks report in Q2 FY2026?", "a": "Arista Networks reported $3.04 billion in revenue for Q2 FY2026, the quarter ended June 30, 2026. That is up 37.7% from $2.20 billion in the same quarter a year earlier." }, { "q": "What was Arista Networks earnings per share in Q2 FY2026?", "a": "Arista Networks reported diluted earnings per share of $0.95 for Q2 FY2026, the quarter ended June 30, 2026, up 35.7% from $0.70 a year earlier. Net income was $1.21 billion, up 36.5%." }, { "q": "Why did Arista Networks gross profit grow more slowly than revenue?", "a": "Arista Networks reported gross profit of $1.91 billion in Q2 FY2026, up 32.8%, against revenue up 37.7%. The company attributes the gap to a higher proportion of sales to large end customers, who receive higher discounts, which held gross margin below where it stood a year earlier even as revenue growth picked up." }, { "q": "How profitable was Arista Networks in Q2 FY2026?", "a": "Arista Networks earned operating income of $1.38 billion in Q2 FY2026, up 39.7%, and net income of $1.21 billion, up 36.5%. Operating income grew faster than revenue because research and development, sales and marketing and administrative costs together rose well behind the top line." } ] }, "company_details": { "Name": "Arista Networks, Inc.", "Ticker": "ANET", "CIK": "0001596532", "Exchange": "NYSE", "State": "California", "Incorporation": "Delaware", "SIC": "3576", "Office": "Technology", "Industry": "Computer Communications Equipment" }, "next_filing": { "predicted_date": "2026-10-27", "predicted_type": "10-Q" }, "fiscal_period": { "fiscal_year": 2026, "fiscal_period": "Q2", "tag": "FY26Q2", "period_end": "2026-06-30", "form": "10-Q", "accession": "0001596532-26-000175", "fiscal_year_end": "1231", "source": "facts" } }