Arista Networks Inc. is a technology company that provides data-driven, client-to-cloud networking solutions for data centers, AI clusters, and campus environments. Headquartered in California, the company specializes in high-performance Ethernet switches and routers powered by its proprietary Extensible Operating System (EOS). Arista is a critical infrastructure provider for hyperscale cloud operators, large enterprises, and financial services firms worldwide.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
9,005,700
7,003,100
5,860,200
4,381,310
Cost of Sales
3,237,000
2,511,800
2,229,900
1,705,614
Gross Profit
5,768,700
4,491,300
3,630,300
2,675,696
Selling, General & Administrative Expenses
675,300
550,000
518,100
420,196
Research & Development Expenses
1,237,300
996,700
854,900
728,394
Operating Profit
3,856,100
2,944,600
2,257,300
1,527,106
Non-Operating Income
393,600
320,500
164,700
54,690
Total Non-Operating Income
393,600
320,500
164,700
54,690
Income Before Provision for Income Taxes
4,249,700
3,265,100
2,422,000
1,581,796
Provision for Income Taxes
738,300
413,000
334,700
229,350
Consolidated Net Income
3,511,400
2,852,100
2,087,300
1,352,446
Net Income Attributable to Common Shareholders
3,511,400
2,852,100
2,087,300
1,352,446
Basic EPS
2.79
2.27
1.69
1.10
Diluted EPS
2.75
2.23
1.65
1.07
Basic Weighted Average Shares Outstanding
1,258,000
1,256,300
1,237,400
1,225,891
Diluted Weighted Average Shares Outstanding
1,275,700
1,281,100
1,268,500
1,265,835
Shares Outstanding
1,256,500
1,261,334
1,248,982
1,227,562
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
1,963,900
2,762,400
1,938,606
671,707
Short-Term Investments
8,779,100
5,541,100
3,069,362
2,352,022
Total Cash and Cash Equivalents
10,743,000
8,303,500
5,007,968
3,023,729
Accounts Receivable
1,886,900
1,140,500
1,034,398
923,096
Total Trade Receivables
1,886,900
1,140,500
1,034,398
923,096
Inventories
2,247,100
1,834,600
1,945,180
1,289,706
Other Current Assets
1,510,000
632,300
412,518
314,217
Total Current Assets
16,387,000
11,910,900
8,400,064
5,550,748
Net Property, Plant & Equipment
203,100
98,800
101,580
95,009
Net Intangible Assets
—
—
357,299
122,205
Goodwill
416,100
268,500
—
265,924
Other Long-Term Assets
2,442,400
1,765,700
1,097,692
741,524
Total Assets
19,448,600
14,043,900
9,956,635
6,775,410
Accounts Payable
651,700
381,100
435,059
232,572
Accrued Expenses
475,400
435,300
407,302
292,487
Unearned Revenue
4,002,600
1,727,300
915,204
637,432
Other Current Liabilities
246,800
188,500
161,870
131,040
Total Current Liabilities
5,376,500
2,732,200
1,919,435
1,293,531
Other Long-Term Liabilities
1,701,600
1,316,900
818,141
596,059
Total Long-Term Liabilities
1,701,600
1,316,900
818,141
596,059
Total Liabilities
7,078,100
4,049,100
2,737,576
1,889,590
Common Stock
100
100
125
31
Additional Paid-in Capital
2,911,800
2,465,400
2,108,237
1,780,714
Accumulated Other Comprehensive Income
12,000
(13,200)
(3,328)
(33,908)
Retained Earnings
9,446,600
7,542,500
5,114,025
3,138,983
Total Common Shareholders' Equity
12,370,500
9,994,800
7,219,059
4,885,820
Total Shareholders' Equity
12,370,500
9,994,800
7,219,059
4,885,820
Total Liabilities and Shareholders' Equity
19,448,600
14,043,900
9,956,635
6,775,410
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
3,511,400
2,852,100
2,087,300
1,352,446
Depreciation & Amortization
72,600
62,000
70,600
62,700
Share-Based Compensation Expense
439,200
355,400
296,800
230,934
Other Adjustments
(339,100)
(546,500)
(404,800)
(240,446)
Changes in Trade Receivables
(746,400)
(106,100)
(105,900)
(401,950)
Changes in Inventories
(412,500)
110,600
(655,500)
(638,948)
Changes in Accounts Payable
260,500
(51,600)
198,600
31,436
Changes in Income Taxes Payable
(47,800)
(66,500)
20,200
44,026
Changes in Unearned Revenue
2,452,000
1,285,200
465,000
98,957
Changes in Other Operating Activities
(818,000)
(186,400)
61,700
(46,342)
Cash from Operating Activities
4,371,900
3,708,200
2,034,000
492,813
Capital Expenditure
(119,500)
(32,000)
(34,400)
(44,644)
Purchases of Investments
(6,748,400)
(4,526,100)
(2,606,900)
(1,418,857)
Proceeds from Sale of Investments
3,576,800
2,107,400
1,955,200
1,837,606
Payments for Business Acquisitions
(300,000)
—
1,800
(145,087)
Other Investing Activities
14,900
(6,600)
(3,200)
(12,691)
Cash from Investing Activities
(3,576,200)
(2,457,300)
(687,500)
216,327
Issuance of Common Shares
57,700
60,200
62,100
48,411
Repurchases of Common Shares
(1,653,600)
(482,000)
(145,900)
(703,012)
Net Issuance / (Repurchases) of Common Shares
(1,595,900)
(421,800)
(83,800)
(654,601)
Cash from Financing Activities
(1,595,900)
(421,800)
(83,800)
(654,601)
Effect of Exchange Rate Changes on Cash and Cash Equivalents
1,700
(4,800)
800
(3,611)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash