This analysis of our Q3 results and our guidance for Q4 2025 is based on non-GAAP and excludes all non-cash stock-based compensation impacts, certain acquisition-required charges, and other non-recurring items. A full reconciliation of our selected GAAP to non-GAAP results is provided in our earnings release. Arista continues to drive its 19th consecutive record quarter of growth in this AI era. We achieved almost $2.31 billion this quarter, with software and services contributing approximately 18.7% of revenue.

Our non-GAAP gross margin of 65.2% was influenced by favorable mix and inventory benefits. We are now committed to $2.75 billion out of our new target of $10.65 billion in revenue, representing 20% revenue growth in 2026. This time, we want to celebrate the promotion of Ken Duda, our President and Chief Technology Officer, not only of engineering, but our top AI and cloud segment of customers as well. EtherLink speeds are going from 800 Gb today to 1.6 terabits in the near future, while leveraging our EOS operating system and our NetDI diagnostics infrastructure for top hardware and software reliability.

Other recent innovations include SWAG, a switch aggregation technology that provides the features of campus stacking, along with fault containment and in-service software upgrades for maximum uptime. Turning now to Q3 performance, total revenues were $2.3 billion, up 27.5% year-over-year, above our guidance of $2.25 billion. This was supported by strong growth across all of our product sectors. International revenues for the quarter came in at $468.3 million, at 20.2% of total revenue, down from 21.8% in the prior quarter.

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Reported 2025-11-04 · figures from the Arista Networks, Inc. Q3 2025 earnings call.

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