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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- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Net Profit Margin since 2014
- Return on Equity (ROE) since 2014
- Debt to Equity since 2014
- Aggregate Accruals
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Arista Networks Inc., consolidated income statement (quarterly data)
US$ in thousands
Based on: 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).
The financial performance from March 2021 through March 2026 is characterized by aggressive revenue expansion and significant scaling of profitability. Total revenue grew from $667.6 million to $2.71 billion, reflecting a sustained upward trajectory. This growth is mirrored in the net income, which increased from $180.4 million to $1.02 billion over the same period, indicating that the company has successfully converted increased sales into bottom-line growth.
- Revenue Stream Analysis
- Growth is primarily driven by the product segment, which rose from $539.1 million to $2.31 billion. While product sales remain the dominant contributor, service revenue also experienced steady growth, increasing from $128.4 million to $397.7 million. The simultaneous growth in both segments suggests a successful strategy of scaling hardware deployments while expanding the associated service ecosystem.
- Gross Profitability and Cost Management
- Gross profit expanded from $425.3 million to $1.68 billion. Although the cost of revenue increased in absolute terms, the gross profit margin remained robust throughout the period. The scaling of production and service delivery has allowed the company to maintain a high margin of profitability despite the significant increase in operational volume.
- Operating Leverage and Expense Trends
- A notable trend of operating leverage is evident as revenue grew significantly faster than operating expenses. Operating expenses increased from $219.0 million to $519.0 million, a much slower rate of growth compared to the fourfold increase in revenue. Research and development remains the largest operating expenditure, increasing from $132.5 million to $343.7 million to support product innovation. Sales and marketing and general and administrative expenses have remained relatively lean, contributing to the expansion of the operating margin.
- Operational and Net Income Growth
- Income from operations grew from $206.3 million to $1.16 billion, demonstrating enhanced operational efficiency. This growth was further bolstered by a significant increase in other income (net), which rose from $1.6 million in the first quarter of 2021 to $113.6 million by the first quarter of 2026. Consequently, the net income margin expanded, with net income increasing from $180.4 million to $1.02 billion, highlighting a strong conversion of operational success into shareholder value.