Arista Networks, Inc.
As of Fiscal Year 2025 (ended December 31, 2025)
Key KPIs at a Glance
| Metric | Value |
|---|---|
| Total revenue (FY2025) | $9.01 billion, up 29% year-over-year |
| GAAP operating income (FY2025) | $3.86 billion, up 31% year-over-year |
| GAAP net income (FY2025) | $3.51 billion, up 23% year-over-year; diluted EPS $2.75 |
| Non-GAAP net income (FY2025) | $3.81 billion; non-GAAP diluted EPS $2.98 |
| GAAP gross margin (FY2025) | 64.1% |
| Deferred revenue (as of December 31, 2025) | $5.37 billion total ($4.00 billion current, $1.37 billion non-current) |
| Free cash flow (FY2025, derived from operating cash flow less capex) | approximately $4.25 billion, up from about $3.68 billion in FY2024 |
| Customer concentration (FY2025) | two customers, disclosed only as 'Customer A' and 'Customer B,' accounted for 26% and 16% of revenue, respectively (42% combined) |
| Employees (as of December 31, 2025) | approximately 5,115 full-time employees worldwide |
Sources: Figures are from Arista Networks' Q4/FY2025 earnings release (SEC Form 8-K Exhibit 99.1, reported February 12, 2026) and FY2025 Form 10-K. Arista discloses customer categories only qualitatively ('Cloud and AI Titans,' 'Enterprise,' 'AI and Specialty Providers') without dollar or percentage figures by category, so no revenue-by-end-market pie is included; its two largest customers are disclosed only as 'Customer A' and 'Customer B; ' any public identification of them by name is analyst speculation, not company disclosure. Dell'Oro Group has publicly described Arista as the leading vendor in Ethernet data center switching, but without a specific attributed market-share percentage, so no market-share figure is charted.