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Arista Networks
Arista Networks (ANET) investor relations material
Arista Networks Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary12 Feb, 2026
Executive summary
Achieved record annual revenue of $9.01 billion in 2025, up 28.6% year-over-year, driven by strong AI and cloud demand, and Q4 revenue of $2.49 billion, up 28.9% year-over-year.
Surpassed 150 million cumulative ports shipped and expanded international revenue by over 40% in Asia and Europe.
Cloud and AI titans contributed 48% of 2025 revenue, with enterprise/financials at 32% and AI/specialty providers at 20%.
Two customers accounted for more than 10% each of total revenue, with expectations for further diversification in 2026.
Launched new products and initiatives, including the 7800 R4 spine, Blue Box diagnostics, and completed the VeloCloud acquisition.
Financial highlights
Q4 2025 revenue was $2.49 billion, up 28.9% year-over-year and above guidance.
Q4 non-GAAP net income was $1.05 billion ($0.82 per diluted share), up from $849.6 million ($0.66) in Q4 2024.
FY 2025 diluted EPS was $2.98, up 28.4% year-over-year.
Q4 non-GAAP gross margin was 63.4%, slightly above guidance but down from 64.2% a year ago due to higher cloud/AI mix.
Q4 non-GAAP operating margin was 47.5%; FY 2025 non-GAAP operating margin was 48.2%.
Outlook and guidance
FY 2026 revenue guidance raised to $11.25 billion, representing 25% annual growth.
AI networking revenue goal increased to $3.25 billion for 2026; campus revenue goal maintained at $1.25 billion.
FY 2026 gross margin expected in the 62%-64% range, with operating margin outlook raised to ~46%.
Q1 2026 guidance: revenue ~$2.6 billion, gross margin 62%-63%, operating margin ~46%, tax rate ~21.5%.
Guidance excludes stock-based compensation, intangible amortization, and potential non-recurring items.
Q1 2026 gross margin outlook drivers
Impact of new AI/campus innovations on growth
VeloCloud acquisition: portfolio enhancement
Will memory cost hikes necessitate price increases?
What drives muted non-AI/campus growth outlook?
Profile of potential new 10% customers?
Partial view of Summaries dataset, powered by Quartr API
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Next Arista Networks earnings date
Morgan Stanley Technology, Media & Telecom Conference 20263 Mar, 2026
Arista Networks
Next Arista Networks earnings date
Morgan Stanley Technology, Media & Telecom Conference 20263 Mar, 2026
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Frequently asked questions
Arista Networks, Inc. develops, markets, and sells cloud networking solutions primarily in the Americas, Europe, the Middle East and Africa, and the Asia-Pacific. The company offers extensible operating system, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products. It provides its products for use in large data center and computing environments. The company sells its products to value-added resellers or distributors; and original equipment manufacturers. Arista Networks, Inc. was founded in 2004 and is headquartered in Santa Clara, California
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