Arista Networks Q4 revenue $1.54B (+20.8% YoY), non-GAAP EPS $2.08; appoints new CFO

Arista Networks, Inc.

2023-FY EPS reported $6.58 revenue$5,860,168,000

Q4 revenue $1,540.4M (+20.8% YoY); GAAP net income $613.6M ($1.92 diluted EPS), non-GAAP $664.3M ($2.08).
FY2023 revenue $5,860.2M (+33.8% YoY); non-GAAP net income $2,199.4M ($6.94 diluted EPS).
Q1 2024 guidance: revenue $1.52-1.56B, non-GAAP gross margin ~62%, operating margin ~42%.
Chantelle Breithaupt appointed CFO effective February 2024, succeeding outgoing CFO Ita Brennan.
GAAP gross margin improved to 64.9% in Q4 from 60.3% a year ago; non-GAAP gross margin 65.4%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Arista Networks, Inc. reported year ended December 31, 2023 results: revenue $5,860.2 million, net income $2,087.3 million, EPS $6.58 per diluted share.

Period: year ended December 31, 2023
Revenue: $5,860.2 million
Net income: $2,087.3 million
EPS: $6.58 per diluted share
Result: reported results

Exact text from the filing

• Revenue of $5,860.2 million, an increase of 33.8% compared to fiscal year 2022 . • GAAP gross margin of 61.9%, compared to GAAP gross margin of 61.1% in fiscal year 2022 . • Non-GAAP gross margin of 62.6%, compared to non-GAAP gross margin of 61.9% in fiscal year 2022 . • GAAP net income of $2,087.3 million, or $6.58 per diluted share, compared to GAAP net income of $1,352.4 million, or $4.27 per diluted share, in fiscal year 2022 . • Non-GAAP net income of $2,199.4 million or $6.94 per diluted share, compared to non-GAAP net income of $1,448.3 million or $4.58 per diluted share, in fiscal year 2022 .

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Arista Networks, Inc. reported quarter ending March 31, 2024 results: revenue $1.52 billion to $1.56 billion. Guidance initiated.

Period: quarter ending March 31, 2024
Revenue: $1.52 billion to $1.56 billion
Guidance: initiated
Result: guidance update

Exact text from the filing

Financial Outlook For the first quarter of 2024, we expect: • Revenue between $1.52 billion to $1.56 billion; • Non-GAAP gross margin of approximately 62%; and • Non-GAAP operating margin of approximately 42%.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Arista Networks, Inc. reported quarter ended December 31, 2023 results: revenue $1,540.4 million, net income $613.6 million, EPS $1.92 per diluted share.

Period: quarter ended December 31, 2023
Revenue: $1,540.4 million
Net income: $613.6 million
EPS: $1.92 per diluted share
Result: reported results

Exact text from the filing

• Revenue of $1,540.4 million, an increase of 2.1% compared to the third quarter of 2023, and an increase of 20.8% from the fourth quarter of 2022. • GAAP gross margin of 64.9%, compared to GAAP gross margin of 62.4% in the third quarter of 2023 and 60.3% in the fourth quarter of 2022. • Non-GAAP gross margin of 65.4%, compared to non-GAAP gross margin of 63.1% in the third quarter of 2023 and 61.0% in the fourth quarter of 2022. • GAAP net income of $613.6 million, or $1.92 per diluted share, compared to GAAP net income of $427.1 million, or $1.35 per diluted share, in the fourth quarter of 2022. • Non-GAAP net income of $664.3 million, or $2.08 per diluted share, compared to non-GAAP net income of $445.1 million, or $1.41 per diluted share, in the fourth quarter of 2022.

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Source: SEC EDGAR

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