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.

13 hours ago

Transcript

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.

14 hours ago

Transcript

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

Transcript

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

Presentation

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

Transcript

Arista reports Q3 2025 results and updates guidance

ANET

Earnings

Guidance Update

Management Change

Arista delivered Q3 2025 revenue of $2.31 billion, up 27.5% YoY, with 65.2% non-GAAP gross margin and net income of $962.3 million (41.7% of revenue); software & services accounted for 18.7% of revenue.
Cash, cash equivalents & investments totaled $10.1 billion, and Arista has $1.4 billion remaining under its $1.5 billion share repurchase program; cash from operations was $1.3 billion in Q3.
Q4 FY25 revenue is guided at $2.3–2.4 billion with gross margin of 62–63%, and FY25 revenue is on track for 26–27% growth to $8.87 billion; FY26 outlook calls for 20% revenue growth to $10.65 billion.
Leadership updates include promotion of Ken Duda to President & CTO, appointment of Tyson Lamoreaux to head the Cloud & AI segment, and recognition of Chantelle Breithaupt for her promotion within finance.

Nov 4, 2025, 9:30 PM

Transcript

Arista Networks reports Q3 2025 financial results

ANET

Earnings

Guidance Update

Management Change

Revenue reached $2.308 billion, up 27.5% year-over-year and 4.7% sequentially.
GAAP net income was $853.0 million ( $0.67 diluted EPS ); non-GAAP net income was $962.3 million ( $0.75 diluted EPS ).
GAAP gross margin stood at 64.6%, and non-GAAP gross margin at 65.2%.
Q4 2025 guidance: revenue of $2.3–$2.4 billion, non-GAAP gross margin of 62–63%, and non-GAAP operating margin of 47–48%.
Kenneth Duda named President & CTO and Tyson Lamoreaux appointed SVP of Cloud and AI Networking.

Nov 4, 2025, 9:08 PM

8-K

Arista Networks reports Q3 2025 results

ANET

Earnings

Guidance Update

Management Change

Revenue of $2.308 billion, up 27.5% year-over-year and 4.7% sequentially.
GAAP gross margin of 64.6% and non-GAAP gross margin of 65.2%, with GAAP EPS of $0.67 and non-GAAP EPS of $0.75.
GAAP net income of $853.0 million and non-GAAP net income of $962.3 million.
Fourth quarter 2025 outlook: $2.3–$2.4 billion revenue, non-GAAP gross margin 62–63%, and non-GAAP operating margin 47–48%.
Appointed Kenneth Duda as President & CTO and Tyson Lamoreaux as SVP of Cloud and AI Networking.

Nov 4, 2025, 9:05 PM

Press Release

Arista unveils next-generation R4 series for AI and data centers

ANET

Product Launch

Arista introduced the R4 Series routers delivering dense 800 Gbps throughput and 3.2 Tbps HyperPorts for distributed AI workloads, reducing AI job completion time.
The 7800R4 modular and 7280R4 fixed platforms support up to 576 ports of 800 GbE and wirespeed TunnelSec encryption on every port.
New 7020R4 Ethernet leaf switches for high-speed server connectivity are slated for Q1 ’26, offering 10 / 25 GbE ports and 100 GbE uplinks with per-port TunnelSec encryption.
7800R4 systems, two new linecards, and two 7280R4 platforms are shipping now, with full HyperPort capability and 7020R4 chassis following in early 2026.

Oct 29, 2025, 1:00 PM

Press Release

Arista Networks outlines FY26 guidance and AI networking roadmap

ANET

Guidance Update

Product Launch

Arista targets $10.5 billion in FY 2026 revenue, reflecting 20% growth on a large base driven by AI and campus/branch segments.
The company estimates its total addressable market will exceed $100 billion by 2029, fueled by AI networking (front-end and back-end) and campus modernization.
Introduced NetDI diagnostics layer atop the NetDL state foundation, and unveiled AVA (Autonomous Virtual Assist) plus the Etherlink portfolio (7060, 7800, 7700 series) to optimize and scale AI networks.
Campus/branch business to grow from $800 million to $1.25 billion, targeting 60% year-over-year expansion through VeloCloud SD-WAN, Arista Wi-Fi (Mojo) and Agni NAC solutions.

Sep 11, 2025, 10:00 PM

Transcript

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