Filing Flows › Arista Networks (ANET) › Q1 2026
Arista Networks (ANET) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Arista Networks (ANET) reported revenue of $2.7B for the first quarter 2026 (Q1 2026), +35% from a year earlier and +9% from the quarter before. Operating margin was 42.7%, net earnings $1.0B (37.8% of revenue).
Arista Networks, Q1 2026: revenue $2.7B (+35% year over year), operating margin 42.7%, net earnings $1.0B, operating cash flow $1.7B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.7B | +9% | +35% |
| Gross profit | $1.7B | +7% | +31% |
| Operating profit | $1.2B | +12% | +35% |
| Net earnings | $1.0B | +7% | +26% |
| Operating cash flow | $1.7B | +34% | +164% |
| Free cash flow | $1.6B | +34% | +167% |
What changed
Revenue was $2.7B in Q1 2026, up 35% year over year and up 9% from the previous quarter. Product was the largest line at 85% of revenue. Product added $0.62B year over year (up 37%), 88% of the total change.
Gross margin was 61.9%, down 1.8 points from Q1 2025. Operating profit was $1.2B, a 42.7% margin (down 0.1 points year over year). Of the extra revenue versus Q1 2025, 42% reached operating profit, below the 43% margin then. Operating expenses grew 24% against revenue growth of 35%. The fastest-growing cost line was Research & development (+29%). Net earnings were $1.0B, up 26% year over year. The effective tax rate was 19.5%.
Operating cash flow was $1.7B (up 164% year over year), 166% of net earnings. Non-cash charges added back $0.02B of depreciation and amortization and $0.12B of share-based compensation. Working capital and other items added $0.53B. Capital expenditures of $0.05B left free cash flow of $1.6B.
Questions
What was Arista Networks' revenue in the first quarter 2026?
Arista Networks (ANET) reported revenue of $2.7B for the first quarter 2026 (Q1 2026), +35% from a year earlier and +9% from the quarter before.
Was Arista Networks profitable in the first quarter 2026?
Operating profit was $1.2B (42.7% of revenue) and net earnings $1.0B.
Source: Arista Networks 10-Q on SEC EDGAR.