Filing Flows › Arista Networks (ANET) › Q3 2026 › vs Q3 2025
Arista Networks (ANET) Q3 2026 vs Q3 2025 (year over year)
Arista Networks's revenue rose $1.3B (+58%) from $2.3B in Q3 2025 to $3.7B in Q3 2026. The biggest changes: Product +$1.3B (+67%); Service +$71.0M (+18%). Gross margin 63.6% against 64.6% (-1.0 pts).
Arista Networks, Q3 2026: revenue $3.7B (+58% year over year), operating margin 44.9%, net earnings $1.6B, operating cash flow $1.2B. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 63.6% | 64.6% | -1.0 pts |
| Operating margin | 44.9% | 42.4% | +2.5 pts |
| Net margin | 42.7% | 37.0% | +5.7 pts |
| Free cash flow margin | 30.1% | 53.6% | -23.6 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Product | $3.2B | $1.9B | $1.3B | +67% |
| Service | $468M | $397M | $71.0M | +18% |
| Revenue | $3.7B | $2.3B | $1.3B | +58% |
| Gross profit | $2.3B | $1.5B | $836M | +56% |
| Cost of revenue | $1.3B | $818M | $514M | +63% |
| Other income, net | $273M | $98.9M | $174M | +176% |
| Operating profit | $1.6B | $978M | $664M | +68% |
| Operating expenses | $683M | $512M | $171M | +33% |
| Pre-tax earnings | $1.9B | $1.1B | $838M | +78% |
| Research & development | $487M | $326M | $161M | +49% |
| Sales & marketing | $157M | $151M | $5.4M | +4% |
| General & admin | $39.8M | $34.8M | $5.0M | +14% |
| Net earnings | $1.6B | $853M | $707M | +83% |
| Income tax | $355M | $224M | $131M | +58% |
| Depreciation & amortization | $23.6M | $23.2M | $400K | +2% |
| Share-based compensation | $138M | $128M | $10.2M | +8% |
| Working capital & other | $521M | −$264M | $785M | — |
| Operating cash flow | $1.2B | $1.3B | −$67.3M | -5% |
| Free cash flow (OCF − capex) | $1.1B | $1.2B | −$138M | -11% |
| Capital expenditures | $101M | $30.1M | $70.6M | +235% |
Questions
How much did Arista Networks's revenue grow year over year in Q3 2026?
Arista Networks's revenue rose $1.3B (+58%) from $2.3B in Q3 2025 to $3.7B in Q3 2026.
What drove Arista Networks's revenue change in Q3 2026?
Product +$1.3B (+67%); Service +$71.0M (+18%).