Overview
- CEO Jayshree Ullal guided to roughly $11 billion of 2026 revenue, up from about $9 billion in 2025, and said Arista’s addressable market has expanded to approximately $105 billion.
- Analyst support remains strong with Needham’s Ryan Koontz lifting his target to $185 and 93% of tracked experts bullish as of March 6.
- Arista reported Q4 revenue of $2.49 billion, up 7.8% sequentially and 28.9% year over year, and projected about $2.6 billion in Q1 2026 sales with non-GAAP gross margins of 62–63% and roughly 46% operating margin.
- The company expects one to two new customers to contribute roughly 10% of 2026 revenue each, signaling major account wins alongside higher concentration risk.
- Leadership emphasizes Ethernet’s expanding role in AI networking while investing in chips, silicon and memory to offset a forecast two-year memory shortage as competition from white-box solutions remains a key risk.