Arista Networks Reports Record $7 Billion Revenue for 2024

SANTA CLARA, Calif. – February 18, 2025 – Arista Networks, Inc. (NYSE: ANET), a leader in AI-driven cloud networking solutions, has announced its financial results for the fourth quarter and full year ending December 31, 2024. The company reported record revenue of $7.003 billion, marking a 19.5% increase compared to 2023.

Strong Financial Performance

Arista’s GAAP gross margin improved to 64.1%, up from 61.9% in 2023. The GAAP net income rose to $2.852 billion ($2.23 per diluted share), compared to $2.087 billion ($1.65 per diluted share) in 2023. On a non-GAAP basis, net income reached $2.910 billion ($2.27 per diluted share), showing strong profitability.

In Q4 2024, revenue stood at $1.930 billion, reflecting a 25.3% increase year-over-year. GAAP net income for the quarter was $801 million ($0.62 per share), compared to $613.6 million ($0.48 per share) in Q4 2023.

CEO Jayshree Ullal praised Arista’s momentum, saying, “2024 was a remarkable year, achieving record revenue and strong profitability. Our innovations are driving AI networking advancements.”

CFO Chantelle Breithaupt highlighted that operating cash flow grew by over 95% year-over-year, enabling continued investment in AI and cloud technologies.

Key Business Highlights

• AI Networking Expansion: Arista’s Etherlink AI platforms support large-scale AI clusters, enhancing performance and efficiency.
• Partnership with Meta: Meta adopted the Arista 7700R4 Distributed Etherlink™ Switch for its Ethernet-based AI clusters.
• Campus Networking Innovation: Arista introduced SWAG™ (Switch Aggregation Group), improving network management via a unified IP system.
• Wi-Fi 7 Launch: The new C-460 access point supports high-density environments, including AR/VR applications.
• Alabama Fiber Network Collaboration: Arista was selected to provide networking equipment for Alabama’s rural internet expansion.
• 20th Anniversary Celebration: Arista marked two decades in business and 10 years since its IPO, with over 10,000 customers worldwide.

Stock Split & Future Outlook

Arista completed a four-for-one stock split in December 2024, making shares more accessible to investors.

For Q1 2025, Arista expects:

• Revenue between $1.93 billion and $1.97 billion
• Non-GAAP gross margin of ~63%
• Non-GAAP operating margin of ~44%