Arista Networks, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $9.01B | $7.00B | $5.86B | $4.38B | $2.95B | $2.32B | $2.41B | $2.15B |
| Product revenue | $7.58B | $5.88B | $5.03B | $3.72B | $2.38B | $1.83B | $2.02B | $1.84B |
| Service revenue | $1.43B | $1.12B | $830.7M | $665.2M | $570.3M | $486.7M | $389.6M | $310.3M |
| Cost of Revenue | $3.24B | $2.51B | $2.23B | $1.71B | $1.07B | $835.6M | $866.4M | $778.0M |
| Gross Profit | $5.77B | $4.49B | $3.63B | $2.68B | $1.88B | $1.48B | $1.54B | $1.37B |
| Gross Margin | 64.1% | 64.1% | 61.9% | 61.1% | 63.8% | 63.9% | 64.1% | 63.8% |
| Operating Expenses | ||||||||
| Research & Development | $1.24B | $996.7M | $854.9M | $728.4M | $586.8M | $486.6M | $462.8M | $442.5M |
| SG&A Expense | $141.9M | $122.7M | $119.1M | $93.2M | $83.1M | $66.2M | $61.9M | $65.4M |
| Operating Income | $3.86B | $2.94B | $2.26B | $1.53B | $924.7M | $699.7M | $805.8M | $273.3M |
| Operating Margin | 42.8% | 42.0% | 38.5% | 34.9% | 31.4% | 30.2% | 33.4% | 12.7% |
| Interest Expense | — | — | — | — | — | — | — | $2.7M |
| Pretax Income | $4.25B | $3.27B | $2.42B | $1.58B | $930.9M | $738.9M | $862.3M | $288.8M |
| Income Tax Expense | $738.3M | $413.0M | $334.7M | $229.4M | $90.0M | $104.3M | $2.4M | $-39.3M |
| Net Income | $3.51B | $2.85B | $2.09B | $1.35B | $840.9M | $634.6M | $859.9M | $328.1M |
| Net Margin | 39.0% | 40.7% | 35.6% | 30.9% | 28.5% | 27.4% | 35.7% | 15.3% |
| EPS (Basic) | $2.79 | $2.27 | $1.69 | $1.10 | $0.69 | $0.52 | $0.71 | $0.27 |
| EPS (Diluted) | $2.75 | $2.23 | $1.65 | $1.07 | $0.66 | $0.50 | $0.67 | $0.25 |
| Shares Outstanding (Basic) | 1.26B | 1.26B | 1.24B | 1.23B | 1.23B | 1.22B | 1.22B | 1.20B |
| Shares Outstanding (Diluted) | 1.28B | 1.28B | 1.27B | 1.27B | 1.28B | 1.27B | 1.29B | 1.29B |
| Dividends Per Share | — | — | — | — | — | — | — | — |