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. It guided second-quarter revenue to about $2.8 billion and non-GAAP operating margin to 46% to 47%, below the 48.8% a year earlier. The company made no share repurchases in the quarter.

• Q1 2026 revenue $2.709 billion, up 35.1% year on year and 8.9% sequentially
• Product revenue $2,311.3 million; service revenue $397.7 million
• Non-GAAP gross margin 62.4%; non-GAAP operating margin 47.8%; GAAP diluted EPS $0.80, non-GAAP $0.87
• Q2 2026 guidance: revenue about $2.8 billion, non-GAAP diluted EPS about $0.88, non-GAAP operating margin 46% to 47%
• No common stock repurchases in Q1 2026, versus $787.1 million in Q1 2025

SEC filing 8-K · accession 0001596532-26-000074 · sec.gov ↗