Earnings summaries and quarterly performance for Arista Networks.
Executive leadership at Arista Networks.
Jayshree Ullal
Detailed
Chief Executive Officer, President and Chairperson
CEO
Chantelle Breithaupt
Detailed
Chief Financial Officer
Hugh Holbrook
Detailed
Chief Development Officer
Kenneth Duda
Detailed
President and Chief Technology Officer
Sean Christofferson
Detailed
General Counsel
Todd Nightingale
Detailed
President and Chief Operating Officer
Board of directors at Arista Networks.
Research analysts who have asked questions during Arista Networks earnings calls.
Aaron Rakers
Wells Fargo
6 questions for ANET
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Amit Daryanani
Evercore
6 questions for ANET
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New Street Research
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BNP Paribas
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Morgan Stanley
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JPMorgan Chase & Co.
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Bank of America
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UBS Group AG
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Goldman Sachs
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Raymond James
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Cleveland Research Company
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Piper Sandler Companies
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Needham & Company, LLC
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Melius Research
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Jefferies
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William Blair
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Melius Research LLC
2 questions for ANET
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Needham & Company
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Matthew Niknam
Deutsche Bank
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William Blair & Company, L.L.C.
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Barclays
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Timothy Long
Barclays
1 question for ANET
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Recent press releases and 8-K filings for ANET.
Arista Networks outlines $105B TAM and diversification strategy
ANET
Revenue Acceleration/Inflection
Guidance Update
- Arista is a pure-play networking company approaching $10 billion in revenue with a 20% growth estimate for next year and targets a $105 billion total addressable market across AI, data center, cloud, enterprise, campus, routing, and observability (up from $70 billion).
- While Arista’s top two hyperscalers once drove ~40% of revenue, it is diversifying into enterprise and campus, aiming for $800 million in campus revenue in 2025 and $1.25 billion in 2026 (≈5% market share) by replicating its data center strategy.
- AI spending is projected at $2.3 trillion from 2022–2035, and Arista anticipates $0.30–$2 of front-end pull-through for every back-end AI dollar, supported by its capabilities across both segments.
- Arista plans to pursue future scale-up Ethernet opportunities through the ESUN consortium; this potential market is currently excluded from the $105 billion TAM and may become accretive once standards mature over the next 24 months.
1 day ago
Arista Networks outlines growth and AI-driven networking opportunity at Raymond James TMT+C
ANET
- Arista targets a $105 billion TAM in networking—up from $70 billion—spanning AI, data center, cloud, enterprise, campus, routing and observability.
- The company expects to reach $10 billion in revenue next fiscal year, reflecting a 20% growth rate.
- To reduce customer concentration (two customers ~40% of revenue), Arista is diversifying into enterprise and campus, aiming for $800 million in campus revenue in 2025 and $1.25 billion in 2026 (~5% market share).
- Positions to capture a $2.3 trillion AI investment (2022–2035) with $0.30–$2 of front-end pull-through per back-end dollar deployed.
- Maintains a direct-sales focus while expanding channel-fulfilled and curated channel-led go-to-market models in campus markets.
1 day ago
Arista Networks projects $10B revenue and expands TAM to $105B
ANET
Guidance Update
Revenue Acceleration/Inflection
New Projects/Investments
- Arista expects to reach $10 billion in revenue next year, reflecting a 20% growth rate as it marks 12 years past its IPO.
- Management increased its total addressable market to $105 billion (up from $70 billion), spanning AI, data center, cloud, enterprise, campus, routing, and observability.
- To reduce customer concentration, Arista is diversifying beyond its top two clients by scaling enterprise and campus sales, targeting $800 million in campus revenue in 2025 and $1.25 billion in 2026 (≈5% market share).
- The AI sector is forecast to see $2.3 trillion in spend from 2022–2035, with Arista estimating a $0.30–$2 network revenue pull-through for each back-end AI dollar.
1 day ago
Arista Networks previews fiscal 2026 growth outlook
ANET
Guidance Update
Revenue Acceleration/Inflection
- Fiscal 2026 guidance: 20% revenue growth target with 62–64% gross margin and sustaining ~48% operating margin at the midpoint of the year.
- Segment targets: Campus revenue set to grow from $0.8 billion in FY25 to $1.25 billion (+50%) and AI data center revenue from ≈$1.5 billion to $2.75 billion (+60–80%).
- Deferred revenue and pipeline: Q3 FY25 deferred revenue grew 86%, reflecting current hyperscaler CapEx trends and a typical 12–24 month lag from design win to revenue recognition in 2026–27.
- Product and partner strategy: Emphasizes a best-of-breed, chip-agnostic portfolio across front-end and back-end AI, expands campus via direct and channel partners, and offers Blue Box hardware flexibility for custom OS deployments.
Dec 2, 2025, 5:15 PM
Arista Networks previews FY26 growth targets at UBS Tech Conference
ANET
Guidance Update
Revenue Acceleration/Inflection
- Arista expects 20% revenue growth in FY26, following nearly 27% growth and a 48% operating margin in FY25; it guided a 62–64% gross margin range for next year.
- AI infrastructure revenue (front- and back-end) exceeded $1.5 billion in FY25, with a target of $2.75 billion in FY26 (60–80% growth).
- Campus networking grew to $800 million in FY25 and is targeting $1.25 billion in FY26 (50% growth) by leveraging refresh cycles and expanded partner channels.
- Deferred revenue climbed 86% in Q3, reflecting strong customer CapEx commitments that typically convert to revenue with a 24-month lag.
- Arista has increased multi-year purchase commitments to secure Broadcom chip supply and mitigate component tightness for FY26 production.
Dec 2, 2025, 5:15 PM
Arista reiterates FY26 20% growth guide at Wells Fargo TMT Summit
ANET
Guidance Update
- No supply constraints expected in FY2025–FY2026; management reiterated confidence in 20% revenue growth for FY2026 as early as September.
- Q3 deferred revenue up 87%, with product-related deferred revenue growing by $625 million quarter-over-quarter, driven by complex AI data center build-outs extending acceptance cycles to 18–24 months.
- Management set FY2025 AI revenue target of $1.5 billion rising to $2.75 billion in FY2026 and campus revenue from $700–$800 million to $1.25 billion, underpinned by expanding deployments across hyperscalers and 15–20 additional customers.
Nov 18, 2025, 6:15 PM
Arista outlines AI growth and deferred revenue at Wells Fargo TMT Summit
ANET
Guidance Update
- Arista reaffirmed a 20% revenue growth guide for fiscal 2026 and sees no supply constraints due to elevated purchase commitments to secure components.
- Deferred revenue rose 87% in Q3 FY 2025 as AI data center build-outs extend project timelines to 18–24 months from a prior 6–12-month cycle.
- For FY 2026, Arista set $2.75 billion in AI revenue and $1.25 billion in campus revenue targets, each implying 60%+ segment growth, while the non-AI/non-campus business is modeled conservatively.
- The “blue box” strategy delivers Arista’s hardware design, supply-chain and diagnostics advantages under customer-selected network OS, enabling dual-source deployment and future EOS upgrades.
Nov 18, 2025, 6:15 PM
Arista Networks reports Q3 2025 results
ANET
Earnings
Guidance Update
Share Buyback
- Record Q3 revenue of $2.3 billion, up 27.5% YoY; non-GAAP gross margin of 65.2%, above guidance of 64%.
- Q3 net income of $962.3 million (41.7% of revenue) and diluted EPS of $0.75, up 25% YoY.
- Cash, cash equivalents and investments of $10.1 billion, with $1.4 billion remaining under the $1.5 billion repurchase program.
- Q4 revenue guidance of $2.3–2.4 billion; gross margin 62–63%; FY 2025 revenue expected at $8.87 billion (+26–27%) with ~64% gross margin; FY 2026 revenue target $10.65 billion (+20%).
Nov 4, 2025, 9:30 PM
Arista Networks reports Q3 2025 results
ANET
Earnings
Management Change
Guidance Update
- Q3 2025 non-GAAP revenue was $2.308 B, up 27.5% YoY; gross margin 65.2%; operating margin 48.6%; EPS $0.75, up 25% YoY.
- Appointed Kenneth Duda as President & Chief Technology Officer and Tyson Lamoreaux as SVP of Cloud and AI Networking.
- Q4 2025 guidance calls for $2.3–2.4 B revenue, non-GAAP gross margin 62–63%, and operating margin 47–48%.
- Ended Q3 with $10.1 B in cash, cash equivalents & marketable securities; $983 M of share repurchases in first nine months.
Nov 4, 2025, 9:30 PM
Arista Networks reports Q3 2025 results
ANET
Earnings
Guidance Update
- Q3 revenue of $2.31 B, up 27.5% YoY, with software & services at 18.7% of sales and non-GAAP gross margin of 65.2%
- Operating income of $1.12 B (48.6% margin) and net income of $962.3 M (41.7% margin), delivering diluted EPS of $0.75, up 25% YoY
- Ended the quarter with $10.1 B in cash & investments, generated $1.3 B in operating cash flow; $1.4 B remains available for share repurchases
- Q4 FY25 guidance: revenue $2.3–2.4 B, gross margin 62–63%, operating margin 47–48%; FY25 revenue growth of 26–27% to ~$8.87 B with AI revenue ≥ $1.5 B, and FY26 outlook of 20% growth to $10.65 B
- Promoted Ken Duda to President & CTO and appointed Tyson Lamoreaux to lead the cloud & AI segment, bolstering its AI ecosystem partnerships
Nov 4, 2025, 9:30 PM
Quarterly earnings call transcripts for Arista Networks.
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