Short answer
Arista Networks (ANET) filed its Q1 2026 10-Q quarterly report on May 6, 2026 for the quarter ended Mar 31, 2026. Quarterly revenue was $2.7B (up 35.1% year over year) with net income of $1.0B.
Q1 2026 key financials · XBRL
- Revenue
- $2.7B
- +35.1% YoY
- Net income
- $1.0B
- +25.7% YoY
- Operating margin
- 42.7%
- Gross margin
- 61.9%
- EPS (diluted)
- $0.80
- +25.0% YoY
Source: XBRL data from the Arista Networks (ANET) Q1 2026 10-Q on SEC EDGAR. USD.
Arista Networks Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Quarterly revenue $2,709.0M, up 35.1% YoY from $2,004.8M
- Gross margin 61.9% vs 63.7% YoY, driven by higher large-customer discounts
- Product revenue $2,311.3M, up 36.6%; service revenue $397.7M, up 27.3%
- Cash and marketable securities $12.4B; operating cash flow $1,693.5M vs $641.7M YoY
- Headwinds: memory and silicon constraints, tariffs, elevated inventory commitments, and uncertain AI demand timing
Risk Factors
- New tariff-refund risk triggered by February 2026 Supreme Court ruling; CAPE repayment timing remains uncertain amid ongoing litigation
- Regulatory trade risk from China export controls on critical minerals and potential retaliatory tariffs affecting supply and manufacturing costs
- Operational supply risk from tightening memory and silicon availability driven by rising AI infrastructure demand
- Customer concentration risk: one end customer represented 26% of 2025 revenue
- Financial liquidity risk from uninsured cash balances and potential inability to access funds during bank insolvencies
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
Other Arista Networks quarterly reports
Ask about this quarter
Compare quarters, check guidance or see what insiders and funds did around the report.