Arista Networks files 8-K: results of operations
ITEM 2.02 Results of Operations and Financial Condition
On August 4, 2026, Arista Networks, Inc. issued a press release announcing its financial results for the quarter ended June 30, 2026. The full text of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Arista Networks, Inc. Reports Second Quarter 2026 Financial Results
• Delivered 40% growth in non-GAAP EPS year-over-year as the company achieved its first $3+ billion revenue quarter.
• Recognized on the 2026 Fortune 500 list of the largest United States corporations by revenue and named a Leader in the 2026 Gartner® Magic Quadrant™ for Enterprise Wired and Wireless LAN.
• Introduced 1.6 Tbps AI fabric platforms, including liquid-cooled options optimized for scale-up, scale-out, and scale-across networks.
SANTA CLARA, Calif. - August 4, 2026 -- Arista Networks, Inc. (NYSE: ANET), an industry leader in data-driven, client-to-cloud networking for large AI, data center, campus, and routing environments, today announced financial results for its second quarter ended June 30, 2026.
“As we deliver our first $3 billion quarter in Q2 2026, it is clear that our Arista 2.0 platform strategy is compelling,” stated Jayshree Ullal, Chairperson and CEO of Arista Networks. “Customers see networking as the central nervous system for infrastructure from the client to campus to data and AI centers.”
Second Quarter Financial Highlights
• Revenue of $3.036 billion, an increase of 12.1% compared to the first quarter of 2026, and an increase of 37.7% from the second quarter of 2025.
• GAAP and non-GAAP operating margin of 45.4% and 49.9%, respectively, compared to GAAP and non-GAAP operating margin of 44.7% and 48.8% in the second quarter of 2025.
• GAAP and non-GAAP diluted earnings per share of $0.95 and $1.02, respectively, compared to GAAP and non-GAAP diluted earnings per share of $0.70 and $0.73 in the second quarter of 2025.
A reconciliation of the company’s non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included in this press release.
Commenting on the company's financial results, Chantelle Breithaupt, Arista’s CFO, said, “Our second quarter 2026 reflects strong, broad-based growth, with revenue up 37.7% and EPS up 39.7%. This performance underscores the strength of our market position and the continued dedication of our global team." Company Highlights
• Defending the Keys to the Kingdom: Resilient Infrastructure vs. AI-Capable Adversaries – Join Arista, Anthropic and Palo Alto Networks for a webinar to discuss the future of security in an AI world. Register here: https://events.arista.com/webinar-defending-the-keys-to-the-kingdom.
• Arista Networks was named a Leader in the 2026 Gartner® Magic Quadrant™ for Enterprise Wired and Wireless LAN – The recognition reflects Arista's continued momentum in the enterprise campus, built on its unified, single-EOS architecture spanning the data center to the campus edge.
• Arista introduced the 7060XE7 Series, a next-generation 1.6-terabit portfolio for AI fabrics – The new Etherlink™ platforms deliver up to 100 Tbps of system bandwidth and support Linear Pluggable Optics, cutting interconnect power consumption by approximately 60% compared to traditional pluggable optics.
Financial Outlook For the third quarter of 2026, we expect:
• Revenue of approximately $3.3 billion;
• Non-GAAP operating margin of 48 - 49%; and
• Non-GAAP diluted net income per share between $1.06 and $1.08.
Guidance for non-GAAP financial measures excludes certain items, including stock-based compensation expense, intangible asset amortization, tax benefits on stock-based awards, the income tax effect on non-GAAP exclusions, and potential non-recurring charges or benefits. A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort because these exclusions can be uncertain or difficult to predict, including stock-based compensation expense and tax benefits on stock-based awards, which is impacted by the timing of employee stock transactions, and the future fair market value of the company’s common stock. The actual amount of these exclusions will have a significant impact on the company's GAAP gross margin, operating margin, and net income per share.
Prepared Materials and Conference Call Information
Arista's executives will discuss the second quarter 2026 financial results on a conference call today at 1:30 PM Pacific Time. To listen to the call via telephone, dial (888) 330-2502 in the United States or +1 (240) 789-2713 from international locations. The Conference ID is 5655862.
The financial results conference call will also be available via live webcast on Arista's investor relations website at https://investors.arista.com/ . Shortly after the conference call concludes, a replay of the audio webcast will be available on Arista’s investor relations website.
ARISTA NETWORKS, INC.
Condensed Consolidated Income Statements (Unaudited, in millions, except per share amounts)
ARISTA NETWORKS, INC.
Reconciliation of Selected GAAP to Non-GAAP Financial Measures (Unaudited, in millions, except percentages and per share amounts)
(1) Prior period amounts have been updated to conform to the current period presentation to reflect the change in methodology for calculating non-GAAP income taxes associated with stock-based awards. The retrospective application of this change resulted in an increase to non-GAAP net income of $10.7 million and $30.4 million for the three and six months ended June 30, 2025, respectively. The impact of this change on non-GAAP diluted net income per share was an increase of nil and $0.03 for the three and six months ended June 30, 2025, respectively. Please refer to the discussions under "Non-GAAP Financial Measures" for further information with respect to this change.
ARISTA NETWORKS, INC.
Condensed Consolidated Balance Sheets (Unaudited, in millions)
ARISTA NETWORKS, INC.
Condensed Consolidated Statements of Cash Flows (Unaudited, in millions)
Non-GAAP Financial Measures
The company uses these non-GAAP financial measures internally in analyzing its financial results and believes that these non-GAAP financial measures are useful to investors as an additional tool to evaluate ongoing operating results and trends. In addition, these measures are the primary indicators management uses as a basis for its planning and forecasting for future periods.
Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for the comparable GAAP financial measures. Non-GAAP financial measures are subject to limitations and should be read only in conjunction with the company's consolidated financial statements prepared in accordance with GAAP. Non-GAAP financial measures do not have any standardized meaning and are, therefore, unlikely to be comparable to similarly titled measures presented by other companies. A description of these non-GAAP financial measures and a reconciliation of the company’s non-GAAP financial measures to their most directly comparable GAAP measures have been provided in the financial statement tables included in this press release, and investors are encouraged to review the reconciliation.