Arista Q1 2023 Earnings Report
Key Takeaways
Arista Networks reported a strong first quarter in 2023, with revenue reaching $1.351 billion, a 54.1% increase year-over-year. The company's GAAP net income was $436.5 million, or $1.38 per diluted share, while non-GAAP net income was $452.5 million, or $1.43 per diluted share.
Revenue reached $1.351 billion, up 54.1% year-over-year.
GAAP gross margin was 59.5%, while non-GAAP gross margin was 60.3%.
GAAP net income was $436.5 million, or $1.38 per diluted share.
Non-GAAP net income was $452.5 million, or $1.43 per diluted share.
Arista
Arista
Arista Revenue by Segment
Forward Guidance
For the second quarter of 2023, Arista expects revenue between $1.350 billion and $1.400 billion, a non-GAAP gross margin of approximately 61%, and a non-GAAP operating margin of approximately 40%.
Positive Outlook
- Revenue between $1.350 billion to $1.400 billion
- Non-GAAP gross margin of approximately 61%
- Non-GAAP operating margin of approximately 40%
- Continued strong revenue growth
- Focus on improving broader financial metrics
Challenges Ahead
- Excludes stock-based compensation expense
- Excludes amortization of acquisition-related intangible assets
- Excludes potential non-recurring charges or benefits
- Uncertainty in predicting stock-based compensation expense
- Impact of future fair market value of the company’s common stock
Revenue & Expenses
Visualization of income flow from segment revenue to net income