Arista Networks, Inc.
For the period ended Sep 30, 2025. Filed Nov 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 5, 2025
ANET$185.02-0.6%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows for the and
Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income | $2,555.6 | $2,051.1 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 49.8 | 46.7 |
| Stock-based compensation | 306.1 | 254.6 |
| Deferred income taxes | (202.5) | (376.7) |
| Other | (23.5) | (42.7) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | (348.9) | (96.5) |
| Inventories | (321.1) | 175.2 |
| Other assets | (683.7) | (173.1) |
| Accounts payable | 98.1 | (142.0) |
| Deferred revenue | 1,765.7 | 1,001.1 |
| Income taxes, net | (105.2) | 59.8 |
| Other liabilities | 19.6 | (80.2) |
| Net cash provided by operating activities | 3,110.0 | 2,677.3 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Proceeds from maturities of marketable securities | 2,590.3 | 1,427.3 |
| Proceeds from sale of marketable securities | 41.4 | 44.9 |
| Purchases of marketable securities | (4,816.3) | (2,593.4) |
| Purchases of property and equipment | (82.5) | (19.6) |
| Cash paid for business combinations, net of cash acquired | (300.0) | — |
| Other | (10.0) | (6.6) |
| Net cash used in investing activities | (2,577.1) | (1,147.4) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from issuance of common stock under equity plans | 56.9 | 55.5 |
| Tax withholding paid on behalf of employees for net share settlement | (44.3) | (47.5) |
| Repurchases of common stock | (983.0) | (299.8) |
| Net cash used in financing activities | (970.4) | (291.8) |
| Effect of exchange rate changes | 1.7 | (1.1) |
| NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | (435.8) | 1,237.0 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH —Beginning of period | 2,763.8 | 1,939.5 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period | $2,328.0 | $3,176.5 |
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