Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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Arista Networks Inc. pages available for free this week:
- Common-Size Income Statement
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Price to Sales (P/S) since 2014
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Arista Networks Inc., consolidated income statement (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
Revenue demonstrates a consistent and significant upward trajectory, growing from 667.5 million in the first quarter of 2021 to 3.03 billion by the second quarter of 2026. This growth is primarily driven by the product segment, although service revenue has also scaled steadily, indicating a diversifying income base and increased long-term customer engagement.
- Profitability and Margin Analysis
- Gross profit exhibits strong growth, mirroring the revenue trend and increasing from 425.2 million to 1.91 billion over the analyzed period. The gross margin remains remarkably stable, generally fluctuating within a narrow band, which suggests that the cost of revenue is scaling linearly with sales and that pricing power is being maintained despite significant volume increases.
- Operating Expense Trends
- Operating expenses have increased in absolute terms, but at a slower rate than revenue, signifying positive operating leverage. Research and development expenditures have risen from 132.4 million to 348.2 million, reflecting a commitment to continuous innovation. Sales and marketing expenses have also grown, though they represent a smaller proportion of total revenue over time. General and administrative costs have remained relatively contained, showing minimal volatility compared to other expense categories.
- Operating Income and Efficiency
- Income from operations has grown substantially, moving from 206.2 million in early 2021 to 1.37 billion by mid-2026. This expansion in operating income suggests that the company is successfully converting a higher percentage of each incremental dollar of revenue into operating profit, driven by the aforementioned operating leverage.
- Net Income and Other Income Impacts
- Net income shows a steady climb from 180.3 million to 1.21 billion. A notable observation is the increase in other income (net), which became a more significant contributor to the bottom line starting in 2022. While net income growth is primarily driven by core operations, these non-operating gains have provided additional support to the final net result.
Overall, the financial performance is characterized by aggressive top-line expansion, disciplined expense management, and a significant increase in absolute profitability. The transition from 2021 to 2026 reveals a business that has successfully scaled its operations while maintaining consistent gross margins and improving its overall operating efficiency.