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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- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Net Profit Margin since 2014
- Total Asset Turnover 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: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Revenue Trends
- The total revenue displayed consistent growth across the periods, originating from approximately $523 million and reaching beyond $2.3 billion in the latest period. Both product and service revenues rose steadily, with product revenue being the larger contributor but services showing significant growth and increasing its share over time.
- Cost of Revenue and Gross Profit
- Cost of revenue similarly increased in line with revenue growth, more than quadrupling from around $185 million to over $818 million. Despite rising costs, gross profit expanded substantially, increasing roughly from $338 million to $1.49 billion. Gross margins improved due to revenue growth outpacing the cost increases.
- Operating Expenses
- Operating expenses grew consistently, driven mainly by research and development (R&D), sales and marketing, and general and administrative (G&A) costs. R&D expenses showed a notable upward trend, more than doubling over the timeframe, which indicates strong ongoing investment in innovation. Sales and marketing expenses rose steadily, albeit at a more moderate pace. G&A expenses presented fluctuations but generally increased, especially with a spike in one period followed by a partial decline.
- Operating Income
- Income from operations showed a robust increase from approximately $150 million to close to $1 billion. This indicates strong operational leverage with expanding profit margins as revenues grow faster than operating expenses.
- Other Income (Expense), Net
- This category exhibited volatility with both positive spikes and occasional declines. The values generally increased over time, contributing positively to income before taxes, particularly noticeable spikes in several periods.
- Income Before Taxes and Net Income
- Income before income taxes rose markedly, paralleling operating income growth and other income trends, growing from around $162 million to over $1 billion. The provision for income taxes varied significantly, with some periods showing increased tax expense reducing net income growth. Nonetheless, net income expanded steadily, approximately sixfold from $138 million to over $850 million, reflecting overall profitability improvement despite tax rate fluctuations.
- Overall Insights
- The company demonstrates strong revenue growth driven by both product and service lines, with effective cost and expense management enabling improved gross profit and operating income margins. Continued investment in R&D and sales functions underscores strategic priorities for innovation and market expansion. Although tax provisions fluctuate, net income growth remains robust, signaling healthy bottom-line performance and operational efficiency gains over time.