ANET Arista Networks
Q3 2025 10-Q
Arista Networks (ANET) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Nov 5, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
AI Filing AnalysisQ3 2025 10-Q
Management Discussion & Analysis
- • Revenue $2.31B, up 27.5% YoY; Product revenue $1.91B (+25.5%), Service revenue $397M (+38.1%) for Q3 FY25
- • Gross margin 64.6% vs 64.2% YoY for Q3 FY25; 64.5% vs 64.3% YoY for 9 months FY25
Risk Factors
- • New risk: April 2025 U.S. tariffs under Int’l Emergency Economic Powers Act on China, Mexico; impacts supply chain costs, customers' order timing and demand
- • Most updated risk: Customer concentration volatility; Microsoft 20% and Meta 15% of 2024 revenue with fluctuating purchasing and AI infrastructure investment impact
Quarterly Financial SummaryXBRL
Revenue
$2.3B
▲ +27.5% YoY▲ +4.7% QoQ
Net Income
$853M
▲ +14.0% YoY▼ -4.0% QoQ
Gross Margin
64.6%
▲ +41bp YoY▼ -69bp QoQ
Operating Margin
42.4%
▼ -98bp YoY▼ -235bp QoQ
Net Margin
37.0%
▼ -435bp YoY▼ -336bp QoQ
ROE
7.2%
Total Assets
$18.0B
EPS (Diluted)
$0.66
▼ -71.8% YoY▼ -5.7% QoQ
Operating Cash Flow
$1.3B
▲ +8.0% YoY▲ +5.7% QoQ
Source: XBRL data from Arista Networks Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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