Arista Networks files 8-K: results of operations
ITEM 2.02 Results of Operations and Financial Condition
On November 3, 2026, Arista Networks, Inc. issued a press release announcing its financial results for the quarter ended September 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 Third Quarter 2026 Financial Results
• Delivered total revenues in Q3 2026 of approximately $3.66 billion, exceeding guidance of $3.3 billion while growing 58.5%, the highest year-over-year revenue growth since our IPO.
• In partnership with AMD, Arm, Broadcom, d-Matrix, Meta, Microsoft, and Qualcomm, Arista launched open standards-based rack-scale architectures for scale-up and scale-out AI networks.
• In September 2026, Arista was added to the S&P 100, an index comprised of 100 major blue-chip companies across multiple industry groups.
SANTA CLARA, Calif. - November 3, 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 third quarter ended September 30, 2026.
“Arista registered another momentous quarter with the highest year-over-year revenue growth since our IPO and record profitability, surpassing even my high expectations,” stated Jayshree Ullal, Chairperson and CEO of Arista Networks. “This strong momentum across customer sectors highlights our increased relevance for the generative and agentic AI era." Third Quarter Financial Highlights
• Revenue of $3.66 billion, an increase of 20.5% compared to the second quarter of 2026, and an increase of 58.5% from the third quarter of 2025.
• GAAP and non-GAAP operating margin of 44.9% and 49.1%, respectively, compared to GAAP and non-GAAP operating margin of 42.4% and 48.6% in the third quarter of 2025.
• GAAP and non-GAAP diluted earnings per share of $1.22 and $1.20, respectively, compared to GAAP and non-GAAP diluted earnings per share of $0.67 and $0.77 in the third 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 performance, Chantelle Breithaupt, CFO, said, "This quarter brought a true trifecta for our company, setting new record highs in revenue growth, net income, and EPS. I’m incredibly proud of the Arista team for their hard work in driving such outstanding performance for our shareholders." Company Highlights
• Arista announced open Ethernet rack-scale architectures for scale-up and scale-out AI fabrics – The new liquid-cooled portfolio leverages Ethernet for Scale-Up Networks (ESUN) and introduces the Etherlink™ SU-144 architecture, supporting up to 144 accelerators per rack in a single hop and scaling up to 1,024 XPUs via cross-rack topologies.
• Arista detailed its scale-across networking strategy for distributed AI fabrics – Highlighting the flagship Arista 7800 AI Spine and unified Arista EOS®, the company outlined how Segment Routing over IPv6 (SRv6) multiplane forwarding, deterministic routing, and real-time congestion signaling enable lossless, high-radix AI fabrics across geographically distributed data centers up to one million XPUs.
Financial Outlook For the fourth quarter of 2026, we expect:
• Revenue of $3.9 - $4.0 billion;
• Non-GAAP operating margin of 48 - 49%; and
• Non-GAAP diluted net income per share of $1.26 - $1.30.
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 are 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 diluted net income per share.
Prepared Materials and Conference Call Information
Arista's executives will discuss the third 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 $17.1 million and $47.5 million for the three and nine months ended September 30, 2025, respectively. The impact of this change on non-GAAP diluted net income per share was an increase of $0.02 and $0.03 for the three and nine months ended September 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.