Arista Networks
What matters nowUpdated 7 h ago
- Arista unveiled an open Ethernet rack-scale AI portfolio on October 7, with liquid-cooled racks holding up to 144 accelerators each and up to 1,024 across racks, built with AMD, Arm, Broadcom, d-Matrix, Meta, Microsoft and Qualcomm; the release gave no ship dates or pricing, and the portfolio is being demonstrated at the OCP Global Summit (October 12 to 15, Booth E61) 1 2.
- The stock traded at $201.78 on the pooled 24/7 venue price, down 4.06% from the prior close of $210.31; it rose 4.53% on October 6, the day Arista set its Q3 results date 3, then recorded moves of -4.04% on October 12 and -4.91% on October 13.
- Insiders sold and did not buy: 45 sales worth $1.40 billion (7.57 million shares) over the last 180 days, all under planned Rule 10b5-1 trading plans; CEO Jayshree Ullal sold at about $211 to $213 on October 6 and at $217.14 on October 7 4 5 6.
- Trailing 12-month revenue is $10.54 billion, up 32.6% year on year (37.7% in the latest quarter), with a 63.0% gross margin, 43.1% operating margin and 38.4% net margin at June 30, 2026; the shares trade at 63.7 times earnings, 24.1 times sales and 55.0 times EV/EBITDA, with a 2.0% free-cash-flow yield on a $254.5 billion market capitalisation.
- Q3 2026 results are due after the U.S. market close on Tuesday, November 3, with the call at 4:30 PM ET, covering the quarter ended September 30 3; management guided Q3 revenue to about $3.3 billion. The 7060XE7 1.6T air-cooled switches are due in Q4 2026 (not yet confirmed) and the liquid-cooled and 128-port models in Q1 2027. September CPI is due on October 14, and Polymarket odds for the Fed's October meeting put no change at 81.5% and a 25 bp increase at 17.5%.
Arista Networks newsroom · Oct 7
Arista Networks newsroom · Oct 12
Arista Networks newsroom · Oct 6
SEC EDGAR Form 4 filings · Oct 6
SEC EDGAR Form 4 filing · Oct 7
SEC EDGAR Form 4 filing · Sep 25
Arista sells Ethernet switches, routers and the EOS operating system and CloudVision management software that run cloud, AI and enterprise data centers. Its largest customers are cloud and AI operators, and two of them accounted for 26% and 16% of 2025 revenue. Revenue in the second quarter of 2026 was $3.04 billion, up 37.7% from a year earlier, and management guided third-quarter revenue to about $3.3 billion. The stock trades on the NYSE under ANET.
How it makes money
Arista makes most of its money from selling switches and routers, mainly high-speed Ethernet systems for AI clusters, cloud data centers and campus networks. Product revenue was $7.58 billion in 2025, about 84% of the total. Service revenue of $1.43 billion, about 16% of the total, comes from support and maintenance contracts sold with the hardware. Large cloud and AI customers place lumpy, high-volume orders, so quarterly revenue can move sharply with the timing of their deployments.
Last 12 monthsChart & venues →
Valuation & fundamentalsFull financials →
TTM through 2026-06-30 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price. Quarterly statements →
Biggest businessesAll products & projects →
AI and cloud data-center networking
Main growth engine. Q2 2026 revenue rose 37.7% year on year to $3.04 billion.
Campus and routing
Mature enterprise line: campus switching, Wi-Fi access points and routing.
Services and support
Recurring support revenue of $430.5 million in Q2 2026.
EOS and CloudVision software
Arista's operating system and network management platform, sold with its switches.
Latest newsAll news →
Arista to demo rack-scale AI portfolio at OCP Global Summit, Booth E61
Arista said it will demonstrate its new rack-scale AI portfolio at the OCP Global Summit, October 12 to 15, 2026, at Booth E61.
Arista unveils open Ethernet rack-scale AI portfolio with 144 accelerators per rack
Arista announced an open Ethernet rack-scale portfolio for scale-up and scale-out AI networks, with liquid-cooled racks that hold up to 144 accelerators each and up to 1,024 across racks.
Jayshree Ullal sells Arista shares at a weighted average of $217.14
A Form 4 filed on October 9 shows CEO Jayshree Ullal selling Arista common stock on October 7 at a weighted-average price of $217.14 per share.
Arista sets November 3 date for Q3 2026 results
Arista said it will release third-quarter 2026 financial results after the U.S.
Ullal sells Arista stock at about $211 to $213; CFO sells at $215
Form 4 filings show CEO Jayshree Ullal selling Arista stock on October 6 at weighted-average prices of about $211 to $213 per share.
Jayshree Ullal sells Arista stock at about $211 on September 25
A Form 4 shows CEO Jayshree Ullal selling Arista common stock on September 25, 2026 at about $211.40 per share.
Products & businesses
AI and cloud data-center networking
Main growth engine. Q2 2026 revenue rose 37.7% year on year to $3.04 billion.
Campus and routing
Mature enterprise line: campus switching, Wi-Fi access points and routing.
Services and support
Recurring support revenue of $430.5 million in Q2 2026.
EOS and CloudVision software
Arista's operating system and network management platform, sold with its switches.
What it's building next
7060XE7 1.6T switch platforms
Launched June 9, 2026. Air-cooled models due Q4 2026, liquid-cooled and 128-port models due Q1 2027.
Next: Air-cooled 7060XE7-64PS and 7060XE7-64PRS available · 2026-12-31
Rack-scale AI architectures
Rack-scale portfolio for scale-up and scale-out AI fabrics announced October 7, 2026. No availability date given.
Segments
| Segment | Revenue | Share | |
|---|---|---|---|
| Products Ethernet switches and routers for AI and cloud data centers, campus and enterprise networks, and the EOS and CloudVision software sold with them. Core AI, cloud and data-center networking is the main growth driver. | $7.58B | 84.1% | |
| Services Support, maintenance and professional services sold with Arista hardware and software, mainly as recurring contracts. | $1.43B | 15.9% |
Fiscal FY2025 · from the annual report
Valuation & fundamentals
TTM through 2026-06-30 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price.
Financial statements
| Metric | TTM | Q2 FY2026 2026-06-30 | Q1 FY2026 2026-03-31 | Q4 FY2025 2025-12-31 | Q3 FY2025 2025-09-30 | Q2 FY2025 2025-06-30 | Q1 FY2025 2025-03-31 | Q4 FY2024 2024-12-31 | Q3 FY2024 2024-09-30 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $10.54B | $3.04B +38% | $2.71B +35% | $2.49Bd +29% | $2.31B +27% | $2.20B +30% | $2.00B +28% | $1.93Bd +25% | $1.81B +20% |
| Gross profit | $6.64B | $1.91B +33% | $1.68B +31% | $1.56Bd +27% | $1.49B +28% | $1.44B +31% | $1.28B +27% | $1.23Bd +23% | $1.16B +23% |
| Operating income | $4.55B | $1.38B +40% | $1.16B +35% | $1.03Bd +29% | $978.2M +25% | $986.2M +41% | $858.8M +30% | $799.6Md +25% | $785.3M +30% |
| Net income | $4.04B | $1.21B +36% | $1.02B +26% | $955.8Md +19% | $853.0M +14% | $888.8M +34% | $813.8M +28% | $801.0Md +31% | $748.0M +37% |
| EPS (diluted) | $3.17 | $0.95 +36% | $0.80 +25% | $0.75d +19% | $0.67 +16% | $0.70 +35% | $0.64 +28% | $0.63d | $0.58 -66% |
| Operating cash flow | $5.31B | $1.08Bd -10% | $1.69B +164% | $1.26Bd +22% | $1.27Bd +8% | $1.20Bd +21% | $641.7M +25% | $1.03Bd +96% | $1.17Bd +68% |
| Capital expenditure | $151.3M | $29.7Md +24% | $54.5M +92% | $37.0Md +198% | $30.1Md +330% | $24.0Md +650% | $28.4M +202% | $12.4Md +107% | $7.0Md -38% |
| Share buybacks | $620.1M | $0d -100% | $0 -100% | $620.1Md +401% | $0d -100% | $195.9Md +14% | $787.1M +1155% | $123.8Md +589424% | $65.1Md |
| Cash & equivalents | $2.29B | $2.29B | $2.79B | $1.96B | $2.33B | $2.23B | $1.85B | $2.76B | $3.18B |
| Shares outstanding | 1.26B | 1.26B | 1.26B | 1.26B | 1.26B | 1.26B | 1.26B | 1.26B | 314.8M |
| Metric | FY2025 2025-12-31 | FY2024 2024-12-31 | FY2023 2023-12-31 | FY2022 2022-12-31 |
|---|---|---|---|---|
| Revenue | $9.01B +29% | $7.00B +20% | $5.86B +34% | $4.38B |
| Cost of revenue | $3.24B +29% | $2.51B +13% | $2.23B +31% | $1.71B |
| Gross profit | $5.77B +28% | $4.49B +24% | $3.63B +36% | $2.68B |
| Research & development | $1.24B +24% | $996.7M +17% | $854.9M +17% | $728.4M |
| Operating income | $3.86B +31% | $2.94B +30% | $2.26B +48% | $1.53B |
| EBIT | $3.86B +31% | $2.94B +30% | $2.26B +48% | $1.53B |
| Depreciation & amortization | $72.6M +17% | $62.0M -12% | $70.6M +13% | $62.7M |
| Income tax | $738.3M +79% | $413.0M +23% | $334.7M +46% | $229.3M |
| Net income | $3.51B +23% | $2.85B +37% | $2.09B +54% | $1.35B |
| EPS (diluted) | $2.75 +23% | $2.23 +35% | $1.65 +54% | $1.07 |
| Diluted shares (weighted) | 1.28B | 1.28B | 1.27B | 1.27B |
| Operating cash flow | $4.37B +18% | $3.71B +82% | $2.03B +313% | $492.8M |
| Capital expenditure | $119.5M +273% | $32.0M -7% | $34.4M -23% | $44.6M |
| Share buybacks | $1.60B +278% | $423.6M +277% | $112.3M -83% | $670.3M |
| Cash & equivalents | $1.96B | $2.76B | $1.94B | $671.7M |
| Total assets | $19.45B | $14.04B | $9.96B | $6.78B |
| Total liabilities | $7.08B | $4.05B | $2.74B | $1.89B |
| Shareholders' equity | $12.37B | $9.99B | $7.22B | $4.89B |
| Shares outstanding | 1.26B | 1.26B | 1.25B | 306.9M |
From XBRL data in SEC filings. Small figures under each value: change vs the same period a year earlier. d = derived (e.g. Q4 = full year − first nine months).
NewsFull archive →
Arista to demo rack-scale AI portfolio at OCP Global Summit, Booth E61
Arista said it will demonstrate its new rack-scale AI portfolio at the OCP Global Summit, October 12 to 15, 2026, at Booth E61.
Arista unveils open Ethernet rack-scale AI portfolio with 144 accelerators per rack
Arista announced an open Ethernet rack-scale portfolio for scale-up and scale-out AI networks, with liquid-cooled racks that hold up to 144 accelerators each and up to 1,024 across racks.
Jayshree Ullal sells Arista shares at a weighted average of $217.14
A Form 4 filed on October 9 shows CEO Jayshree Ullal selling Arista common stock on October 7 at a weighted-average price of $217.14 per share.
Arista sets November 3 date for Q3 2026 results
Arista said it will release third-quarter 2026 financial results after the U.S.
Ullal sells Arista stock at about $211 to $213; CFO sells at $215
Form 4 filings show CEO Jayshree Ullal selling Arista stock on October 6 at weighted-average prices of about $211 to $213 per share.
Jayshree Ullal sells Arista stock at about $211 on September 25
A Form 4 shows CEO Jayshree Ullal selling Arista common stock on September 25, 2026 at about $211.40 per share.
Kenneth Duda exercises options and sells Arista shares on September 21
A Form 4 shows Arista co-founder and CTO Kenneth Duda exercising options on 17,333 shares with an exercise price of $14.15 and selling shares on the same day at about $201.70 to $205.50.
Andy Bechtolsheim sells Arista shares on September 17
A Form 4 filing shows co-founder and chief architect Andy Bechtolsheim selling Arista common stock on September 17, 2026 in several blocks.
S&P Dow Jones Indices adds Sandisk to the S&P 100, effective September 21
S&P Dow Jones Indices announced on September 4, 2026 that Sandisk will join the S&P 100, replacing Colgate-Palmolive before the open on September 21.
Jayshree Ullal reports Form 4 sales of Arista stock at about $207 to $211
A Form 4 filed on August 14 shows CEO Jayshree Ullal selling Arista common stock on August 12 at prices from about $207 to $211 per share.
Ullal and Bechtolsheim sell Arista shares on August 5 and 6
Form 4 filings show CEO Jayshree Ullal and co-founder Andy Bechtolsheim selling Arista stock in the first two sessions after the Q2 report.
Arista shares rise more than 11% in late trading after Q2 beat
Arista shares gained just over 3% in the regular session on August 4 and then rose more than 11% in after-hours trading once the quarterly report was out.
Arista Q2 2026 revenue hits $3.04 billion, up 37.7%; Q3 guidance tops estimates
Arista reported second-quarter 2026 revenue of $3,035.7 million, up 37.7% from a year earlier and 12.1% from the first quarter, .
Arista adds AI-driven zero-trust edge security to VeloCloud SD-WAN
Arista launched AI-driven Edge Threat Management for its VeloCloud SD-WAN, a software option that brings firewalling, segmentation and threat prevention to branch offices.
Arista sets August 4 date for Q2 2026 results
Arista said it would report second-quarter 2026 results after the U.S.
Arista unveils 1.6T 7060XE7 switch portfolio for AI fabrics with Meta, Microsoft and Oracle
Arista introduced a 1.6 terabit-per-port switch portfolio for AI fabrics, covering air-cooled 64-port rack switches, a liquid-cooled 2OU platform and a 128-port 800G system.
Arista named a Gartner Magic Quadrant leader and adds ruggedized campus switches
Arista said Gartner named it a Leader in the 2026 Magic Quadrant for Enterprise Wired and Wireless LAN Infrastructure, with the report cited as published May 18, 2026.
Arista shares fall 13.6% after Q1 beat as margin guide and supply limits weigh
Arista shares closed down 13.6% on May 6, the day after first-quarter results beat estimates, and traded as much as 17.4% lower during the session.
Arista Q1 2026 revenue rises 35% to $2.71 billion, but Q2 margin guide is lower
Arista reported first-quarter 2026 revenue of $2.709 billion, up 35.1% year on year, with non-GAAP EPS of $0.87 and operating cash flow of $1.69 billion.
Arista launches XPO multi-source agreement for 12.8 Tbps liquid-cooled optics
Arista announced a multi-source agreement (MSA) for XPO, a 64-channel pluggable optics module rated at 12.8 Tbps with an integrated cold plate.
Arista closes 2025 with $2.49 billion Q4 revenue and sets a $2.6 billion Q1 target
Arista reported fourth-quarter 2025 revenue of $2.488 billion, up 28.9% from a year earlier, and non-GAAP diluted EPS of $0.82.
Arista Networks reports fiscal Q3 2025 results: revenue $2.31B, up 27% from a year earlier
Arista Networks filed a Form 8-K with the SEC on Nov 4, 2025, 4:08 PM ET, reporting an event dated Nov 4, 2025.
SEC filings
| Oct 9, 26 | 4 | Form 4: Ullal Jayshree (CEO and Chairperson, Director) — open-market sale 96,992 sh | sec.gov ↗ |
| Oct 9, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 8, 26 | 4 | Form 4: Ullal Jayshree (CEO and Chairperson, Director) — open-market sale 460,374 sh | sec.gov ↗ |
| Oct 8, 26 | 4 | Form 4: Breithaupt Chantelle Yvette (Senior Vice President, CFO) — open-market sale 1,224 sh | sec.gov ↗ |
| Oct 8, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 7, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 6, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 6, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 5, 26 | 4 | Form 4: TEMPLETON MARK B (Director) — open-market sale 5,000 sh | sec.gov ↗ |
| Sep 29, 26 | 4 | Form 4: Ullal Jayshree (CEO and Chairperson, Director) — open-market sale 62,622 sh | sec.gov ↗ |
| Sep 25, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 23, 26 | 4 | Form 4: Duda Kenneth (President and CTO, Director) — option exercise 17,333 sh, open-market sale 43,333 sh | sec.gov ↗ |
| Sep 21, 26 | 4 | Form 4: BECHTOLSHEIM ANDREAS (10% Owner) — open-market sale 300,000 sh | sec.gov ↗ |
| Sep 17, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 14, 26 | 4 | Form 4: Duda Kenneth (President and CTO, Director) — other 114,464 sh | sec.gov ↗ |
| Sep 10, 26 | 4 | Form 4: TEMPLETON MARK B (Director) — open-market sale 5,000 sh | sec.gov ↗ |
| Sep 10, 26 | 4 | Form 4: Duda Kenneth (President and CTO, Director) — other 400,000 sh | sec.gov ↗ |
| Sep 8, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 3, 26 | 4 | Form 4: Breithaupt Chantelle Yvette (Senior Vice President, CFO) — open-market sale 612 sh | sec.gov ↗ |
| Sep 1, 26 | 4 | Form 4: Duda Kenneth (President and CTO, Director) — other 548,140 sh | sec.gov ↗ |
| Sep 1, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Aug 31, 26 | 4 | Form 4: BECHTOLSHEIM ANDREAS (10% Owner) — open-market sale 300,000 sh | sec.gov ↗ |
| Aug 27, 26 | 4 | Form 4: Ullal Jayshree (CEO and Chairperson, Director) — open-market sale 13,809 sh | sec.gov ↗ |
| Aug 27, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Aug 25, 26 | 4 | Form 4: Battles Kelly Bodnar (Director) — open-market sale 422 sh | sec.gov ↗ |
Insider trades, 12 months
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-07 | Ullal Jayshree CEO and Chairperson, Director | Sale 10b5-1 plan | 97.0K | $217.14 | $21.1M |
| 2026-10-06 | Breithaupt Chantelle Yvette Senior Vice President, CFO | Sale 10b5-1 plan | 1.2K | $215.00 | $263.2K |
| 2026-10-06 | Ullal Jayshree CEO and Chairperson, Director | Sale 10b5-1 plan | 460.4K | $212.09 | $97.6M |
| 2026-10-01 | TEMPLETON MARK B Director | Sale 10b5-1 plan | 5.0K | $204.37 | $1.0M |
| 2026-09-25 | Ullal Jayshree CEO and Chairperson, Director | Sale 10b5-1 plan | 62.6K | $211.40 | $13.2M |
| 2026-09-21 | Duda Kenneth President and CTO, Director | Sale 10b5-1 plan | 43.3K | $203.50 | $8.8M |
| 2026-09-17 | BECHTOLSHEIM ANDREAS 10% Owner | Sale 10b5-1 plan | 300.0K | $198.95 | $59.7M |
| 2026-09-08 | TEMPLETON MARK B Director | Sale 10b5-1 plan | 5.0K | $197.16 | $985.8K |
| 2026-09-01 | Breithaupt Chantelle Yvette Senior Vice President, CFO | Sale 10b5-1 plan | 612 | $195.77 | $119.8K |
| 2026-08-27 | BECHTOLSHEIM ANDREAS 10% Owner | Sale 10b5-1 plan | 300.0K | $202.60 | $60.8M |
| 2026-08-25 | Ullal Jayshree CEO and Chairperson, Director | Sale 10b5-1 plan | 13.8K | $191.79 | $2.6M |
| 2026-08-21 | Battles Kelly Bodnar Director | Sale 10b5-1 plan | 422 | $187.34 | $79.1K |
| 2026-08-20 | Duda Kenneth President and CTO, Director | Sale 10b5-1 plan | 43.3K | $185.42 | $8.0M |
| 2026-08-12 | Ullal Jayshree CEO and Chairperson, Director | Sale 10b5-1 plan | 573.5K | $208.13 | $119.4M |
| 2026-08-06 | BECHTOLSHEIM ANDREAS 10% Owner | Sale 10b5-1 plan | 411.8K | $192.75 | $79.4M |
| 2026-08-05 | Ullal Jayshree CEO and Chairperson, Director | Sale 10b5-1 plan | 331.4K | $201.22 | $66.7M |
| 2026-08-05 | Ullal Jayshree CEO and Chairperson, Director | Sale 10b5-1 plan | 1.0K | $201.24 | $207.7K |
| 2026-08-05 | Ullal Jayshree CEO and Chairperson, Director | Sale 10b5-1 plan | 767.0K | $201.22 | $154.3M |
| 2026-08-05 | BECHTOLSHEIM ANDREAS 10% Owner | Sale 10b5-1 plan | 300.0K | $203.30 | $61.0M |
| 2026-08-03 | Giancarlo Charles H Director | Sale 10b5-1 plan | 8.0K | $181.02 | $1.4M |
| 2026-07-20 | Duda Kenneth President and CTO, Director | Sale 10b5-1 plan | 43.3K | $170.51 | $7.4M |
| 2026-07-14 | BECHTOLSHEIM ANDREAS 10% Owner | Sale 10b5-1 plan | 300.0K | $180.77 | $54.2M |
| 2026-07-10 | Ullal Jayshree CEO and Chairperson, Director | Sale 10b5-1 plan | 234.6K | $187.18 | $43.9M |
| 2026-07-09 | Ullal Jayshree CEO and Chairperson, Director | Sale 10b5-1 plan | 242.4K | $188.17 | $45.6M |
| 2026-07-02 | BECHTOLSHEIM ANDREAS 10% Owner | Sale 10b5-1 plan | 240.0K | $162.67 | $39.0M |