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.

Arista Networks Inc., consolidated income statement (quarterly data)

US$ in thousands

3 months ended:	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Product	1,877,000)	1,692,500)	1,608,098)	1,523,807)	1,423,271)	1,328,845)	1,310,314)	1,285,548)	1,261,537)	1,172,094)	1,096,866)	1,008,689)	885,806)	724,718)	667,955)	604,160)	566,467)	539,145)	518,281)	480,242)	421,413)	410,906)
Service	327,800)	312,300)	322,338)	287,129)	267,129)	242,529)	230,123)	223,908)	197,387)	179,257)	178,686)	168,112)	166,085)	152,348)	156,504)	144,537)	140,852)	128,417)	130,201)	125,189)	119,157)	112,123)
Revenue	2,204,800)	2,004,800)	1,930,436)	1,810,936)	1,690,400)	1,571,374)	1,540,437)	1,509,456)	1,458,924)	1,351,351)	1,275,552)	1,176,801)	1,051,891)	877,066)	824,459)	748,697)	707,319)	667,562)	648,482)	605,431)	540,570)	523,029)
Product	(707,300)	(672,700)	(643,648)	(593,343)	(540,393)	(521,679)	(495,826)	(522,866)	(533,613)	(508,862)	(471,617)	(432,569)	(375,634)	(293,809)	(270,809)	(243,342)	(225,779)	(218,433)	(210,436)	(199,465)	(176,432)	(163,629)
Service	(58,900)	(56,000)	(55,794)	(55,876)	(52,794)	(48,316)	(45,385)	(44,171)	(41,182)	(37,982)	(35,329)	(34,252)	(32,992)	(29,412)	(30,936)	(26,740)	(27,362)	(23,857)	(23,462)	(21,004)	(20,049)	(21,149)
Cost of revenue	(766,200)	(728,700)	(699,442)	(649,219)	(593,187)	(569,995)	(541,211)	(567,037)	(574,795)	(546,844)	(506,946)	(466,821)	(408,626)	(323,221)	(301,745)	(270,082)	(253,141)	(242,290)	(233,898)	(220,469)	(196,481)	(184,778)
Gross profit	1,438,600)	1,276,100)	1,230,994)	1,161,717)	1,097,213)	1,001,379)	999,226)	942,419)	884,129)	804,507)	768,606)	709,980)	643,265)	553,845)	522,714)	478,615)	454,178)	425,272)	414,584)	384,962)	344,089)	338,251)
Research and development	(296,500)	(266,400)	(285,016)	(235,824)	(267,482)	(208,395)	(211,481)	(212,353)	(229,676)	(201,408)	(190,423)	(187,807)	(178,158)	(172,006)	(157,879)	(153,093)	(143,293)	(132,487)	(133,847)	(128,049)	(111,544)	(113,154)
Sales and marketing	(126,500)	(116,600)	(110,949)	(106,832)	(104,403)	(105,080)	(105,538)	(102,033)	(97,971)	(93,492)	(85,443)	(81,401)	(79,372)	(80,739)	(74,786)	(69,740)	(70,625)	(71,020)	(67,671)	(53,372)	(51,237)	(57,086)
General and administrative	(29,400)	(34,300)	(35,377)	(33,811)	(25,755)	(27,763)	(42,293)	(25,338)	(26,420)	(25,029)	(23,821)	(23,425)	(22,882)	(23,113)	(24,261)	(22,488)	(20,895)	(15,473)	(18,428)	(15,146)	(14,319)	(18,349)
Operating expenses	(452,400)	(417,300)	(431,342)	(376,467)	(397,640)	(341,238)	(359,312)	(339,724)	(354,067)	(319,929)	(299,687)	(292,633)	(280,412)	(275,858)	(256,926)	(245,321)	(234,813)	(218,980)	(219,946)	(196,567)	(177,100)	(188,589)
Income from operations	986,200)	858,800)	799,652)	785,250)	699,573)	660,141)	639,914)	602,695)	530,062)	484,578)	468,919)	417,347)	362,853)	277,987)	265,788)	233,294)	219,365)	206,292)	194,638)	188,395)	166,989)	149,662)
Other income (expense), net	94,000)	96,200)	89,275)	97,660)	70,863)	62,620)	54,477)	41,815)	56,339)	12,146)	16,926)	6,817)	(533)	31,480)	1,500)	1,346)	1,719)	1,575)	5,542)	13,224)	8,256)	12,157)
Income before income taxes	1,080,200)	955,000)	888,927)	882,910)	770,436)	722,761)	694,391)	644,510)	586,401)	496,724)	485,845)	424,164)	362,320)	309,467)	267,288)	234,640)	221,084)	207,867)	200,180)	201,619)	175,245)	161,819)
Provision for income taxes	(191,400)	(141,200)	(87,931)	(134,972)	(105,008)	(85,069)	(80,755)	(99,183)	(94,516)	(60,251)	(58,756)	(70,165)	(63,221)	(37,208)	(27,993)	(10,335)	(24,196)	(27,501)	(17,222)	(33,244)	(30,452)	(23,388)
Net income	888,800)	813,800)	800,996)	747,938)	665,428)	637,692)	613,636)	545,327)	491,885)	436,473)	427,089)	353,999)	299,099)	272,259)	239,295)	224,305)	196,888)	180,366)	182,958)	168,375)	144,793)	138,431)

The quarterly financial data indicates a general upward trend in revenue and profitability over the observed periods. Product revenue consistently increases from $410.9 million in March 2020 to a projected $1.877 billion by June 2025, reflecting strong demand or successful sales strategies. Service revenue follows a similar upward trajectory, rising from $112.1 million to an estimated $327.8 million within the same timeframe. Overall revenue growth is robust, increasing from $523 million to $2.204 billion, showing steady expansion in business volume.

Cost of revenue for both product and service categories demonstrates a consistent rise, which is expected with growing sales. Product costs escalate from approximately $163.6 million to $707.3 million, and service costs from around $21.1 million to $58.9 million. Despite these increases, gross profit also trends upward, growing from roughly $338.3 million in early 2020 to a forecasted $1.438 billion in mid-2025, indicating maintained or improved gross margins overall.

Operating expenses show notable fluctuations. Research and development expenses generally rise but with some variability, increasing from $113.2 million to about $296.5 million, suggesting ongoing investment in innovation. Sales and marketing expenses steadily grow, from about $57.1 million to $126.5 million, consistent with supporting revenue increases. General and administrative costs fluctuate more substantially, notably peaking in December 2023 before decreasing somewhat thereafter, possibly indicating restructuring or increased efficiency efforts.

Despite growing operational costs, income from operations continues to show strong gains, climbing from $149.7 million to nearly $1 billion by mid-2025. Other income experiences variability, with a significant positive spike around early 2022 that enhances total income before taxes. This income before tax rises consistently from $161.8 million to over $1.08 billion, reflecting strong overall earnings performance.

Provision for income taxes varies quarter to quarter without a clear trend but reaches substantial amounts in later years, correlating with higher pre-tax income. Net income exhibits a steady increase from $138.4 million to an estimated $888.8 million, demonstrating effective management of costs and strong profitability growth throughout the period.

Revenue Trends: Consistent growth in both product and service revenues with total revenue nearing $2.2 billion by mid-2025.
Cost of Revenue: Increasing costs parallel revenue growth but gross margin expansion maintains profitability.
Operating Expenses: R&D and sales & marketing expenses steadily increase, while administrative expenses show some volatility.
Profitability: Income from operations and net income display strong upward trends, supported by efficient cost controls and favorable other income impacts.
Tax Provisions: Tax expenses grow with earnings but fluctuate, affecting net income consistency slightly.

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Arista Networks Inc. (NYSE:ANET)

Income StatementQuarterly Data

Income Statement
Quarterly Data