Arista Networks (ANET) official guidance

Our operating margin outlook remains at approximately 46% for the fiscal year, with the tax rate expected at 21.5%.

Our structural tax rate is expected at 21.5%, back to the usual historical rate, up from the seasonally lower rate of 18.4% experienced last quarter, Q4 2025.

Non-GAAP diluted net income per share between $1.06 and $1.08.

For gross margin, we reiterate the range for the fiscal year of 62%-64%, inclusive of mix and anticipated supply chain cost increases for memory and silicon.

For gross margin, we reiterate the range for the fiscal year of 62%-64%, inclusive of mix and anticipated supply chain cost increases for memory and silicon.

For gross margin, a range is expected of approximately 62%-64%, driven by customer mix, and for operating margin, an outlook of approximately 43%-45%, allowing for investments in relation to achieving the strategic goals of Arista.

Our operating margin outlook remains at approximately 46% for the fiscal year, with the tax rate expected at 21.5%.

With our increased revenue guidance, we are now confident to raise the operating margin outlook to approximately 46% in 2026.

For gross margin, a range is expected of approximately 62%-64%, driven by customer mix, and for operating margin, an outlook of approximately 43%-45%, allowing for investments in relation to achieving the strategic goals of Arista.

Non-GAAP operating margin of 48 - 49%;

We also increased our AI target now to $3.5 billion this year, thereby more than doubling our AI sales annually.

We maintain our 2026 campus revenue goal of $1.25 billion and raise our AI centers goal from $2.75 billion to $3.25 billion.

Full-year revenue growth of approximately 20%, now at a higher dollar amount of $10.65 billion, inclusive of both a campus target of $1.25 billion and an AI center target of $2.75 billion.

We maintain our 2026 campus revenue goal of $1.25 billion and raise our AI fabrics goal from $3.25 billion-$3.5 billion.

We maintain our 2026 campus revenue goal of $1.25 billion and raise our AI centers goal from $2.75 billion to $3.25 billion.

Full-year revenue growth of approximately 20%, now at a higher dollar amount of $10.65 billion, inclusive of both a campus target of $1.25 billion and an AI center target of $2.75 billion.

As Jayshree mentioned, we are now pleased to raise our 2026 fiscal year outlook to 27.7% revenue growth, delivering approximately $11.5 billion.

As we have moved through 2025, we have gained visibility and confidence for fiscal year 2026. As Jayshree mentioned, we are now pleased to raise our 2026 fiscal year outlook to 25% revenue growth, delivering approximately $11.25 billion.

Full-year revenue growth of approximately 20%, now at a higher dollar amount of $10.65 billion, inclusive of both a campus target of $1.25 billion and an AI center target of $2.75 billion.

Revenue of approximately $3.3 billion;

With our ever-increasing AI momentum, we anticipate a diversified customer base in 2026, including one, maybe even two additional 10% customers.