Arista Networks said full-year 2023 revenue rose to $5,860.2 million, up 33.8% from fiscal 2022, and GAAP net income was $2,087.3 million, or $6.58 per diluted share.

1. 01

   Arista Networks said full-year 2023 revenue rose to $5,860.2 million, up 33.8% from fiscal 2022, and GAAP net income was $2,087.3 million, or $6.58 per diluted share.

2. 02

   The company said revenue for Q4 was $1,540.4 million, up 2.1% from Q3 2023 and 20.8% from Q4 2022. GAAP gross margin was 64.9%, presented alongside 62.4% in Q3 2023 and 60.3% in Q4 2022.

3. 03

   In 2023, the company reported that net cash provided by operating activities over the 12 months was $2,034,014 thousand, while it used $655,474 thousand for an increase in inventories. As of December 31, 2023, cash and cash equivalents were $1,938,606 thousand.

4. 04

   The company gave its outlook for Q1 2024: revenue of $1.52 billion to $1.56 billion, non-GAAP gross margin of approximately 62%, and non-GAAP operating margin of approximately 42%.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.