# Arista Networks, Inc.: financial statements, quarterly ANET · NYSE · CIK 1596532 · [Technology](/sectors/technology.md) · fiscal year ends Dec 31 Pages: [Overview](/companies/anet.md) · [Financials](/companies/anet/financials.md) · [Filings](/companies/anet/filings.md) · [Insiders](/companies/anet/insiders.md) Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/anet/financials.md?period=annual). ## Income statement | Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | | --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Revenue | $m | [1,509](/filings/0001596532-24-000368.md) | [1,540 d](/filings/0001596532-26-000013.md) | [1,571](/filings/0001596532-25-000106.md) | [1,690](/filings/0001596532-25-000216.md) | [1,811](/filings/0001596532-25-000286.md) | [1,930 d](/filings/0001596532-26-000013.md) | [2,005](/filings/0001596532-26-000078.md) | [2,205](/filings/0001596532-26-000175.md) | [2,308](/filings/0001596532-25-000286.md) | [2,488 d](/filings/0001596532-26-000013.md) | [2,709](/filings/0001596532-26-000078.md) | [3,036](/filings/0001596532-26-000175.md) | | Cost of revenue | $m | [567](/filings/0001596532-24-000368.md) | [541 d](/filings/0001596532-26-000013.md) | [570](/filings/0001596532-25-000106.md) | [593](/filings/0001596532-25-000216.md) | [649](/filings/0001596532-25-000286.md) | [699 d](/filings/0001596532-26-000013.md) | [729](/filings/0001596532-26-000078.md) | [766](/filings/0001596532-26-000175.md) | [818](/filings/0001596532-25-000286.md) | [924 d](/filings/0001596532-26-000013.md) | [1,032](/filings/0001596532-26-000078.md) | [1,125](/filings/0001596532-26-000175.md) | | Gross profit | $m | [942](/filings/0001596532-24-000368.md) | [999 d](/filings/0001596532-26-000013.md) | [1,001](/filings/0001596532-25-000106.md) | [1,097](/filings/0001596532-25-000216.md) | [1,162](/filings/0001596532-25-000286.md) | [1,231 d](/filings/0001596532-26-000013.md) | [1,276](/filings/0001596532-26-000078.md) | [1,439](/filings/0001596532-26-000175.md) | [1,490](/filings/0001596532-25-000286.md) | [1,564 d](/filings/0001596532-26-000013.md) | [1,677](/filings/0001596532-26-000078.md) | [1,910](/filings/0001596532-26-000175.md) | | Research and development | $m | [212](/filings/0001596532-24-000368.md) | [211 d](/filings/0001596532-26-000013.md) | [208](/filings/0001596532-25-000106.md) | [268](/filings/0001596532-25-000216.md) | [236](/filings/0001596532-25-000286.md) | [285 d](/filings/0001596532-26-000013.md) | [266](/filings/0001596532-26-000078.md) | [297](/filings/0001596532-26-000175.md) | [326](/filings/0001596532-25-000286.md) | [348 d](/filings/0001596532-26-000013.md) | [344](/filings/0001596532-26-000078.md) | [348](/filings/0001596532-26-000175.md) | | Operating income | $m | [603](/filings/0001596532-24-000368.md) | [640 d](/filings/0001596532-26-000013.md) | [660](/filings/0001596532-25-000106.md) | [700](/filings/0001596532-25-000216.md) | [785](/filings/0001596532-25-000286.md) | [800 d](/filings/0001596532-26-000013.md) | [859](/filings/0001596532-26-000078.md) | [986](/filings/0001596532-26-000175.md) | [978](/filings/0001596532-25-000286.md) | [1,033 d](/filings/0001596532-26-000013.md) | [1,158](/filings/0001596532-26-000078.md) | [1,378](/filings/0001596532-26-000175.md) | | Interest expense | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | | Income tax | $m | [99.2](/filings/0001596532-24-000368.md) | [80.8 d](/filings/0001596532-26-000013.md) | [85.1](/filings/0001596532-25-000106.md) | [105](/filings/0001596532-25-000216.md) | [135](/filings/0001596532-25-000286.md) | [88.0 d](/filings/0001596532-26-000013.md) | [141](/filings/0001596532-26-000078.md) | [191](/filings/0001596532-26-000175.md) | [224](/filings/0001596532-25-000286.md) | [182 d](/filings/0001596532-26-000013.md) | [249](/filings/0001596532-26-000078.md) | [291](/filings/0001596532-26-000175.md) | | Net income | $m | [545](/filings/0001596532-24-000368.md) | [614 d](/filings/0001596532-26-000013.md) | [638](/filings/0001596532-25-000106.md) | [665](/filings/0001596532-25-000216.md) | [748](/filings/0001596532-25-000286.md) | [801 d](/filings/0001596532-26-000013.md) | [814](/filings/0001596532-26-000078.md) | [889](/filings/0001596532-26-000175.md) | [853](/filings/0001596532-25-000286.md) | [956 d](/filings/0001596532-26-000013.md) | [1,023](/filings/0001596532-26-000078.md) | [1,213](/filings/0001596532-26-000175.md) | | Diluted EPS | $ per share | [1.72](/filings/0001596532-24-000368.md) | not reported | [0.50](/filings/0001596532-25-000106.md) | [0.52](/filings/0001596532-25-000216.md) | [0.58](/filings/0001596532-25-000286.md) | not reported | [0.64](/filings/0001596532-26-000078.md) | [0.70](/filings/0001596532-26-000175.md) | [0.67](/filings/0001596532-25-000286.md) | not reported | [0.80](/filings/0001596532-26-000078.md) | [0.95](/filings/0001596532-26-000175.md) | | Basic EPS | $ per share | [1.76](/filings/0001596532-24-000368.md) | not reported | [0.51](/filings/0001596532-25-000106.md) | [0.53](/filings/0001596532-25-000216.md) | [0.59](/filings/0001596532-25-000286.md) | not reported | [0.65](/filings/0001596532-26-000078.md) | [0.71](/filings/0001596532-26-000175.md) | [0.68](/filings/0001596532-25-000286.md) | not reported | [0.81](/filings/0001596532-26-000078.md) | [0.96](/filings/0001596532-26-000175.md) | - Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax - Cost of revenue: us-gaap:CostOfGoodsAndServicesSold - Gross profit: us-gaap:GrossProfit - Research and development: us-gaap:ResearchAndDevelopmentExpense - Operating income: us-gaap:OperatingIncomeLoss - Interest expense: not reported - Income tax: us-gaap:IncomeTaxExpenseBenefit - Net income: us-gaap:NetIncomeLoss - Diluted EPS: us-gaap:EarningsPerShareDiluted - Basic EPS: us-gaap:EarningsPerShareBasic ## Balance sheet | Line item | Unit | Q3 FY2023 (2023-09-30) | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | | --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Cash and equivalents | $bn | [1.7](/filings/0001596532-23-000274.md) | [1.9](/filings/0001596532-25-000028.md) | [2.1](/filings/0001596532-24-000173.md) | [2.4](/filings/0001596532-24-000279.md) | [3.2](/filings/0001596532-24-000368.md) | [2.8](/filings/0001596532-26-000013.md) | [1.8](/filings/0001596532-25-000106.md) | [2.2](/filings/0001596532-25-000216.md) | [2.3](/filings/0001596532-25-000286.md) | [2.0](/filings/0001596532-26-000175.md) | [2.8](/filings/0001596532-26-000078.md) | [2.3](/filings/0001596532-26-000175.md) | | Current assets | $bn | [7.7](/filings/0001596532-23-000274.md) | [8.4](/filings/0001596532-25-000028.md) | [8.9](/filings/0001596532-24-000173.md) | [9.8](/filings/0001596532-24-000279.md) | [10.9](/filings/0001596532-24-000368.md) | [11.9](/filings/0001596532-26-000013.md) | [12.3](/filings/0001596532-25-000106.md) | [13.5](/filings/0001596532-25-000216.md) | [15.2](/filings/0001596532-25-000286.md) | [16.4](/filings/0001596532-26-000175.md) | [18.6](/filings/0001596532-26-000078.md) | [20.2](/filings/0001596532-26-000175.md) | | Total assets | $bn | [9.1](/filings/0001596532-23-000274.md) | [10.0](/filings/0001596532-25-000028.md) | [10.6](/filings/0001596532-24-000173.md) | [11.6](/filings/0001596532-24-000279.md) | [12.8](/filings/0001596532-24-000368.md) | [14.0](/filings/0001596532-26-000013.md) | [14.5](/filings/0001596532-25-000106.md) | [16.5](/filings/0001596532-25-000216.md) | [18.0](/filings/0001596532-25-000286.md) | [19.4](/filings/0001596532-26-000175.md) | [21.7](/filings/0001596532-26-000078.md) | [23.7](/filings/0001596532-26-000175.md) | | Current liabilities | $bn | [1.8](/filings/0001596532-23-000274.md) | [1.9](/filings/0001596532-25-000028.md) | [1.8](/filings/0001596532-24-000173.md) | [2.2](/filings/0001596532-24-000279.md) | [2.4](/filings/0001596532-24-000368.md) | [2.7](/filings/0001596532-26-000013.md) | [3.1](/filings/0001596532-25-000106.md) | [4.1](/filings/0001596532-25-000216.md) | [4.7](/filings/0001596532-25-000286.md) | [5.4](/filings/0001596532-26-000175.md) | [6.6](/filings/0001596532-26-000078.md) | [6.8](/filings/0001596532-26-000175.md) | | Total liabilities | $bn | [2.6](/filings/0001596532-23-000274.md) | [2.7](/filings/0001596532-25-000028.md) | [2.7](/filings/0001596532-24-000173.md) | [3.2](/filings/0001596532-24-000279.md) | [3.6](/filings/0001596532-24-000368.md) | [4.0](/filings/0001596532-26-000013.md) | [4.4](/filings/0001596532-25-000106.md) | [5.6](/filings/0001596532-25-000216.md) | [6.1](/filings/0001596532-25-000286.md) | [7.1](/filings/0001596532-26-000175.md) | [8.2](/filings/0001596532-26-000078.md) | [8.9](/filings/0001596532-26-000175.md) | | Long-term debt | $bn | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | | Current portion of debt | $bn | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | | Shareholders' equity | $bn | [6.5](/filings/0001596532-24-000368.md) | [7.2](/filings/0001596532-26-000013.md) | [7.9](/filings/0001596532-25-000216.md) | [8.4](/filings/0001596532-25-000286.md) | [9.2](/filings/0001596532-25-000286.md) | [10.0](/filings/0001596532-26-000175.md) | [10.1](/filings/0001596532-26-000175.md) | [10.9](/filings/0001596532-26-000175.md) | [11.9](/filings/0001596532-25-000286.md) | [12.4](/filings/0001596532-26-000175.md) | [13.5](/filings/0001596532-26-000175.md) | [14.8](/filings/0001596532-26-000175.md) | - Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue - Current assets: us-gaap:AssetsCurrent - Total assets: us-gaap:Assets - Current liabilities: us-gaap:LiabilitiesCurrent - Total liabilities: us-gaap:Liabilities - Long-term debt: not reported - Current portion of debt: not reported - Shareholders' equity: us-gaap:StockholdersEquity ## Cash flow | Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | | --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Operating cash flow | $m | [699 d](/filings/0001596532-24-000368.md) | [526 d](/filings/0001596532-26-000013.md) | [514](/filings/0001596532-25-000106.md) | [989 d](/filings/0001596532-25-000216.md) | [1,175 d](/filings/0001596532-25-000286.md) | [1,031 d](/filings/0001596532-26-000013.md) | [642](/filings/0001596532-26-000078.md) | [1,200 d](/filings/0001596532-26-000175.md) | [1,268 d](/filings/0001596532-25-000286.md) | [1,262 d](/filings/0001596532-26-000013.md) | [1,694](/filings/0001596532-26-000078.md) | [1,083 d](/filings/0001596532-26-000175.md) | | Capital expenditure | $m | [11.2 d](/filings/0001596532-24-000368.md) | [6.0 d](/filings/0001596532-26-000013.md) | [9.4](/filings/0001596532-25-000106.md) | [3.2 d](/filings/0001596532-25-000216.md) | [7.0 d](/filings/0001596532-25-000286.md) | [12.4 d](/filings/0001596532-26-000013.md) | [28.4](/filings/0001596532-26-000078.md) | [24.0 d](/filings/0001596532-26-000175.md) | [30.1 d](/filings/0001596532-25-000286.md) | [37.0 d](/filings/0001596532-26-000013.md) | [54.5](/filings/0001596532-26-000078.md) | [29.7 d](/filings/0001596532-26-000175.md) | | Share repurchases | $m | [0.0 d](/filings/0001596532-24-000368.md) | [0.0 d](/filings/0001596532-26-000013.md) | [62.7](/filings/0001596532-25-000106.md) | [172 d](/filings/0001596532-25-000216.md) | [65.1 d](/filings/0001596532-25-000286.md) | [124 d](/filings/0001596532-26-000013.md) | [787](/filings/0001596532-26-000078.md) | [196 d](/filings/0001596532-26-000175.md) | [0.0 d](/filings/0001596532-25-000286.md) | [620 d](/filings/0001596532-26-000013.md) | [0.0](/filings/0001596532-26-000078.md) | [0.0 d](/filings/0001596532-26-000175.md) | - Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities - Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment, us-gaap:PaymentsToAcquireProductiveAssets - Share repurchases: us-gaap:PaymentsForRepurchaseOfCommonStock ## Shares | Line item | Unit | Q3 FY2022 (2022-09-30) | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | | --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Diluted shares (weighted) | millions of shares | [314](/filings/0001596532-23-000274.md) | [316](/filings/0001596532-24-000173.md) | [316](/filings/0001596532-24-000279.md) | [318](/filings/0001596532-24-000368.md) | [1,279](/filings/0001596532-25-000106.md) | [1,280](/filings/0001596532-25-000216.md) | [1,282](/filings/0001596532-25-000286.md) | [1,279](/filings/0001596532-26-000078.md) | [1,271](/filings/0001596532-26-000175.md) | [1,277](/filings/0001596532-25-000286.md) | [1,274](/filings/0001596532-26-000078.md) | [1,276](/filings/0001596532-26-000175.md) | - Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding Shares outstanding: 1,261,224,648 at 2026-07-30, from the cover of the [10-Q filed 2026-08-05](/filings/0001596532-26-000175.md) (dei:EntityCommonStockSharesOutstanding). Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:43 ET. No prices; not investment advice.