Arista Networks (ANET) FY2025 10-K Annual Report
Arista Networks (ANET) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 17, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Arista Networks FY2025 10-K Analysis
Business Overview
- • Core cloud and AI-driven data center networking-as-a-service platform powered by proprietary EOS OS and Network Data Lake for unified data interconnectivity
- • Introduced AI Center networking strategy addressing Scale Up/Out/Across domains with 800G Etherlink portfolio including 7800R AI Spine, 7060 AI Leaf, 7700R4 DES switches
Management Discussion & Analysis
- • Revenue $9.01B in 2025, up 28.6% YoY from $7.00B in 2024; product revenue $7.58B (+28.8%), service revenue $1.43B (+27.7%)
- • Gross margin stable at 64.1% in 2025 vs 64.1% in 2024; operating expenses increased to 21.3% of revenue in 2025 from 22.1% in 2024
Risk Factors
- • Economic exposure to foreign currency fluctuations risks reduced demand if U.S. dollar strengthens, despite revenue being primarily U.S. dollar-denominated
- • Interest rate risk causing $100 million unrealized loss on fixed income securities from 100 basis point increase in U.S. market interest rates as of Dec 31, 2025
Arista Networks FY2025 Key Financial MetricsXBRL
Revenue
$9.0B
▲ +28.6% YoY
Net Income
$3.5B
▲ +23.1% YoY
Gross Margin
64.1%
▼ -8bp YoY
Operating Margin
42.8%
▲ +77bp YoY
Net Margin
39.0%
▼ -173bp YoY
ROE
28.4%
▼ -15bp YoY
Total Assets
$19.4B
▲ +38.5% YoY
EPS (Diluted)
$2.75
▲ +23.3% YoY
Operating Cash Flow
$4.4B
▲ +17.9% YoY
Source: XBRL data from Arista Networks FY2025 10-K filing on SEC EDGAR. All figures in USD.
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