Arista Networks exceeded revenue guidance in Q3 2026

ITEM 2.02 Results of Operations and Financial Condition

On November 3, 2026, Arista Networks, Inc. issued a press release announcing its financial results for the quarter ended September 30, 2026.^{1 1}The full text of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.¹

This information and Exhibit 99.1 are intended to be furnished under Item 2.02, "Results of Operations and Financial Condition," and Item 9.01, "Financial Statements and Exhibits," of Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934², as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

ITEM 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No. Description

99.1 Press release issued by Arista Networks, Inc. dated November 3, 2026.³

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)³

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ARISTA NETWORKS, INC.

November 3, 2026 /s/ CHANTELLE BREITHAUPT

Chantelle Breithaupt

Senior Vice President, Chief Financial Officer

(Principal Financial Officer and Principal Accounting Officer)

Arista Networks, Inc. Reports Third Quarter 2026 Financial Results

• Delivered total revenues in Q3 2026 of approximately $3.66 billion, exceeding guidance of $3.3 billion⁵ while growing 58.5%, the highest year-over-year revenue growth since our IPO.

• In partnership with AMD, Arm, Broadcom, d-Matrix, Meta, Microsoft, and Qualcomm, Arista launched open standards-based rack-scale architectures for scale-up and scale-out AI networks.

• In September 2026, Arista was added to the S&P 100, an index comprised of 100 major blue-chip companies across multiple industry groups.

SANTA CLARA, Calif. - November 3, 2026 -- Arista Networks, Inc. (NYSE: ANET), an industry leader in data-driven, client-to-cloud networking for large AI, data center, campus, and routing environments, today announced financial results for its third quarter ended September 30, 2026.

"Arista registered another momentous quarter with the highest year-over-year revenue growth since our IPO and record profitability, surpassing even my high expectations," stated Jayshree Ullal, Chairperson and CEO of Arista Networks. "This strong momentum across customer sectors highlights our increased relevance for the generative and agentic AI era."

Third Quarter Financial Highlights

• Revenue of $3.66 billion, an increase of 20.5% compared to the second quarter of 2026, and an increase of 58.5% from the third quarter of 2025.⁴

• GAAP and non-GAAP operating margin of 44.9% and 49.1%, respectively, compared to GAAP and non-GAAP operating margin of 42.4% and 48.6% in the third quarter of 2025.⁶

• GAAP and non-GAAP diluted earnings per share of $1.22 and $1.20, respectively, compared to GAAP and non-GAAP diluted earnings per share of $0.67 and $0.77 in the third quarter of 2025.⁷

A reconciliation of the company's non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included in this press release.

Commenting on the company's financial performance, Chantelle Breithaupt, CFO, said, "This quarter brought a true trifecta for our company, setting new record highs in revenue growth, net income, and EPS. I'm incredibly proud of the Arista team for their hard work in driving such outstanding performance for our shareholders."

Company Highlights

• Arista announced open Ethernet rack-scale architectures for scale-up and scale-out AI fabrics – The new liquid-cooled portfolio leverages Ethernet for Scale-Up Networks (ESUN) and introduces the Etherlink™ SU-144 architecture, supporting up to 144 accelerators per rack in a single hop and scaling up to 1,024 XPUs via cross-rack topologies.

• Arista detailed its scale-across networking strategy for distributed AI fabrics – Highlighting the flagship Arista 7800 AI Spine and unified Arista EOS®, the company outlined how Segment Routing over IPv6 (SRv6) multiplane forwarding, deterministic routing, and real-time congestion signaling enable lossless, high-radix AI fabrics across geographically distributed data centers up to one million XPUs.

• Arista expanded AI-driven software security across its development lifecycle – Collaborating with the likes of Anthropic, Google, and OpenAI, Arista embedded domain-specific AI harnesses that accelerate

1 proactive vulnerability discovery, building on the company's track record of low CVEs and no-downtime upgrades.

Financial Outlook

For the fourth quarter of 2026, we expect:⁸

• Revenue of $3.9 - $4.0 billion;⁸

• Non-GAAP operating margin of 48 - 49%; and⁸

• Non-GAAP diluted net income per share of $1.26 - $1.30.⁸

Guidance for non-GAAP financial measures excludes certain items, including stock-based compensation expense, intangible asset amortization, tax benefits on stock-based awards, the income tax effect on non-GAAP exclusions, and potential non-recurring charges or benefits. A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort because these exclusions can be uncertain or difficult to predict, including stock-based compensation expense and tax benefits on stock-based awards, which are impacted by the timing of employee stock transactions, and the future fair market value of the company's common stock. The actual amount of these exclusions will have a significant impact on the company's GAAP gross margin, operating margin and diluted net income per share.

Prepared Materials and Conference Call Information

Arista's executives will discuss the third quarter 2026 financial results on a conference call today at 1:30 PM Pacific Time. To listen to the call via telephone, dial (888) 330-2502 in the United States or +1 (240) 789-2713 from international locations. The Conference ID is 5655862.

The financial results conference call will also be available via live webcast on Arista's investor relations website at https://investors.arista.com/ . Shortly after the conference call concludes, a replay of the audio webcast will be available on Arista's investor relations website.

2

ARISTA NETWORKS, INC.

Condensed Consolidated Income Statements

(Unaudited, in millions, except per share amounts)

Three Months Ended September 30, Nine Months Ended September 30,