Arista Networks (ANET)

NYSE: ANET · Computer Communications Equipment · Santa Clara, CA · filing with the SEC since 2014

Grade7.3

◀ Past 7.7● Present 7.4▶ Future 6.8

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Income statement, as filed

In thousands of US dollars (USD), as filed; per-share figures in US dollars; share counts in thousands. The fiscal year ends in December.

Income statement, by fiscal year, newest first
Fiscal year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
Report filed	Feb 17, 2026	Feb 19, 2025	Feb 13, 2024	Feb 14, 2023	Feb 15, 2022	Feb 19, 2021	Feb 14, 2020	Feb 15, 2019	Feb 20, 2018	Feb 17, 2017
Revenue	9,005,700	7,003,100^r	5,860,200^r	4,381,310	2,948,037	2,317,512	2,410,706	2,151,369	1,646,186	1,129,167
Cost of revenue	3,237,000	2,511,800^r	2,229,900^r	1,705,614	1,067,258	835,626	866,368	777,992	584,417	406,051
Gross profit	5,768,700	4,491,300^r	3,630,300^r	2,675,696	1,880,779	1,481,886	1,544,338	1,373,377	1,061,769	723,116
Research and development	1,237,300	996,700^r	854,900^r	728,394	586,752	486,594	462,759	442,468	349,594	273,581
Sales and marketing	533,400	427,300^r	399,000^r	326,955	286,171	229,366	213,907	187,142	155,105	130,887
General and administrative	141,900	122,700^r	119,100^r	93,241	83,117	66,242	61,898	65,420	86,798	75,239
Total operating expenses	1,912,600	1,546,700^r	1,373,000^r	1,148,590	956,040	782,202	738,564	1,100,030	591,497	479,707
Operating income	3,856,100	2,944,600^r	2,257,300^r	1,527,106	924,739	699,684	805,774	273,347	470,272	243,409
Interest expense	·	·	·	·	·	·	·	2,701	2,780	3,136
Interest and investment income	383,400	311,000^r	152,400^r	27,556	7,215	27,139	51,144	31,666	8,093	2,995
Other income (expense), net	·	·	·	·	·	·	·	18,155	7,268	1,952
Total non-operating income (expense)	393,600	320,500^r	164,700^r	54,690	6,140	39,179	56,496	15,454	4,488	-1,184
Income before income taxes	4,249,700	3,265,100^r	2,422,000^r	1,581,796	930,879	738,863	862,270	288,801	474,760	242,225
Income tax expense	738,300	413,000^r	334,700^r	229,350	90,025	104,306	2,403	-39,314	51,559	58,036
Net income	3,511,400	2,852,100^r	2,087,300^r	1,352,446	840,854	634,557	859,867	328,115	423,201	184,189
Net income to common shareholders	3,511,400	2,852,100^r	2,087,300^r	1,352,446	840,854	634,557	859,444	327,926	422,400	182,965
Earnings per share, basic	2.79	2.27	1.69^r	1.10^r	0.685^b	0.5225^rb	0.705^rb	0.2744^b	0.3656^b	0.1663^b
Earnings per share, diluted	2.75	2.23	1.65^r	1.07^r	0.6575^b	0.50^rb	0.665^rb	0.2537^b	0.3344^b	0.1562^b
Weighted average shares, basic	1,258,000	1,256,300^r	1,237,400^r	1,225,891^r	1,226,048^b	1,215,744^rb	1,220,992^rb	1,196,000^b	1,156,128^b	1,100,336^b
Weighted average shares, diluted	1,275,700	1,281,100^r	1,268,500^r	1,265,835^r	1,276,952^b	1,271,440^rb	1,294,064^rb	1,293,504^b	1,263,632^b	1,171,552^b

As filed with the SEC, each figure from the newest report that carries it, and linked to it. Nothing here is computed.Share counts and per-share figures are on the newest report's basis, after the 4-for-1 split of Dec 2024.A dot is a line not tagged for that period. ^r restated by the company in a later report; ^b a share figure put on the newest basis or filed in the wrong unit. Hover a figure for its filing and note.

What each line is, and the XBRL concept behind it

Revenue what customers paid for what it sold

us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
us-gaap:SalesRevenueNet

Cost of revenue what it cost to make or buy what it sold

us-gaap:CostOfGoodsAndServicesSold
us-gaap:CostOfRevenue

Gross profit revenue less the cost of what it soldus-gaap:GrossProfit

Research and development spent on inventing what it sells nextus-gaap:ResearchAndDevelopmentExpense

Sales and marketing the cost of finding and serving customersus-gaap:SellingAndMarketingExpense

General and administrative the cost of running the company itselfus-gaap:GeneralAndAdministrativeExpense

Total operating expenses the running costs togetherus-gaap:OperatingExpenses

Operating income profit from running the business, before interest and taxus-gaap:OperatingIncomeLoss

Interest expense what its borrowing costus-gaap:InterestExpense

Interest and investment income what its cash and investments earnedus-gaap:InterestIncomeOther

Other income (expense), net gains and costs outside the businessus-gaap:OtherNonoperatingIncomeExpense

Total non-operating income (expense) everything outside the business, togetherus-gaap:NonoperatingIncomeExpense

Income before income taxes profit before taxus-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest

Income tax expense tax charged on the period's profitus-gaap:IncomeTaxExpenseBenefit

Net income the profit or loss that belongs to the company's shareholdersus-gaap:NetIncomeLoss

Net income to common shareholders what is left for common shareholdersus-gaap:NetIncomeLossAvailableToCommonStockholdersBasic

Earnings per share, basic net income per share outstandingus-gaap:EarningsPerShareBasic

Earnings per share, diluted net income per share, counting every share that could be issuedus-gaap:EarningsPerShareDiluted

Weighted average shares, basic the average count of shares outstandingus-gaap:WeightedAverageNumberOfSharesOutstandingBasic

Weighted average shares, diluted the average count with every share that could be issuedus-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

SI Assistanton ANET · research, not advice