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Founded in 2004, Arista Networks (NYSE: ANET) is a leading provider of cloud networking solutions for large data center, campus, and routing environments. The company is renowned for its advanced network operating system, Extensible Operating System (EOS), which runs a single image across all its devices. Arista's award-winning platforms range in Ethernet speeds from 10 to 100 gigabits per second, offering unmatched scalability, agility, and resilience. The company's core business revolves around providing high-speed Ethernet switches and software solutions, primarily serving data centers and cloud computing environments.
Arista has shipped over five million cloud networking ports worldwide and remains committed to open standards, being a founding member of the 25/50G consortium. The company counts tech giants like Microsoft and Meta Platforms as its largest customers and derives approximately three-quarters of its sales from North America. Its products are available globally, both directly and through partners.
Recent achievements include the launch of the CloudVision® Universal Network Observability™ (CV UNO™) system, which merges network infrastructure performance data to deliver insights into application and workload performance. The company also expanded its zero trust networking architecture in collaboration with Zscaler, enhancing security and streamlining workflows.
Financially, Arista continues to show strong performance. For the third quarter ending September 30, 2023, the company reported a revenue of $1.509 billion, a 3.5% increase from the second quarter of 2023, and a 28.3% increase from the third quarter of 2022. The GAAP gross margin for the quarter was 62.4%, up from 60.6% in the second quarter of 2023. Arista's robust financial health is further highlighted by a non-GAAP net income of $581.4 million, or $1.83 per diluted share, compared to $391.9 million, or $1.25 per diluted share in the third quarter of 2022.
Additionally, Arista has been recognized as one of America's Greenest Companies by Newsweek and continues to pioneer in the field of AI networking with the recent introduction of the Etherlink™ AI platforms and advancements in AI Data Centers in collaboration with NVIDIA.
Arista Networks (NYSE: ANET) announced its Q3 2024 financial results, showcasing strong growth and financial performance. Revenue reached $1.811 billion, a 7.1% increase from Q2 2024 and a 20% rise from Q3 2023. GAAP gross margin was 64.2%, down from 64.9% in Q2 2024 but up from 62.4% in Q3 2023. Non-GAAP gross margin was 64.6%, compared to 65.4% in Q2 2024 and 63.1% in Q3 2023. GAAP net income was $747.9 million ($2.33 per diluted share), up from $545.3 million ($1.72 per share) in Q3 2023. Non-GAAP net income was $769.1 million ($2.40 per share), compared to $581.4 million ($1.83 per share) in Q3 2023.
Arista's CFO, Chantelle Breithaupt, highlighted the company's consistent innovation and value delivery. Notable developments include Alabama Fiber Network selecting Arista for a statewide project, advancements in the CloudVision platform, and collaboration with Meta on AI networking. Additionally, Arista announced a four-for-one stock split effective December 3, 2024.
For Q4 2024, Arista expects revenue between $1.85 billion and $1.90 billion, with a non-GAAP gross margin of 63%-64% and an operating margin of 44%.
Arista Networks (NYSE:ANET) has announced it will release its Q3 2024 financial results on Thursday, November 7th, 2024 after U.S. markets close. The company will host a conference call at 1:30 p.m. PT (4:30 p.m. ET) on the same day to discuss the results and business highlights. Interested parties can access the call via phone or live webcast from Arista's Investor Relations website.
Additionally, Arista has announced its participation in three upcoming investor events in December 2024:
- UBS Global Technology Conference on December 3
- Wells Fargo TMT Conference on December 4
- Raymond James TMT and Consumer Conference on December 10
Live audio webcasts of these events will be available on Arista's Investor Relations website.
Arista Networks (NYSE: ANET) has announced significant new capabilities in its CloudVision® platform, enabling a modern network operating model for customers. CloudVision simplifies operations with automation, observability, and zero trust security capabilities across all enterprise networking domains, including campus, data center, WAN, and cloud.
Key features include:
- Multi-domain management platform eliminating different network operating models
- Unified Network Data Lake (NetDL™) architecture for advanced automation and analytics
- CloudVision Universal Network Observability™ (CV UNO™) for faster issue detection and resolution
- Guided workflows for campus network operations
- WAN operator dashboards and CloudVision Pathfinder for modernized WAN management
- Multi-domain orchestration for zero trust networking
These new CloudVision features will be available in Q4 2024.
HyperLight , a provider of thin film lithium niobate (TFLN) photonic integrated circuits (PICs), has secured a $37 million Series B investment led by Summit Partners. The funding round includes participation from existing investors Xora Innovation and Foothill Ventures. Peter Chung, Managing Director and CEO of Summit Partners, will join HyperLight's Board of Directors.
HyperLight's TFLN PICs offer superior bandwidth and energy efficiency for AI/data center infrastructure, telecommunications optical networks, and high-performance computing. The company has delivered industrial-scale TFLN PICs with a trusted supply chain since its founding in 2018.
The new financing will enable HyperLight to accelerate product development and meet growing customer demand. The investment is expected to enhance the company's ability to serve as a trusted innovation partner in the photonics industry.
Arista Networks (NYSE:ANET) has been chosen by Alabama Fiber Network (AFN) to provide routing and switching equipment for a statewide middle-mile network project. This initiative, part of the Be Linked Alabama program, aims to deliver affordable, high-capacity internet access across rural Alabama. The project involves a $340 million investment to create a 6,600-mile open-access network reaching all 67 counties.
AFN will utilize Arista's 7280SR3 platform, Ciena's WaveLogic 5 Nano 400G ZR+ transceivers, and Reconfigurable Line System. The network will support last-mile providers and large enterprises, bridging the digital divide and boosting economic development, healthcare, and education access. Arista's CloudVision® platform and Professional Services will also be leveraged for network management and implementation.
Arista Networks (NYSE: ANET) reported strong Q2 2024 financial results, showcasing significant growth and profitability. Key highlights include:
- Revenue of $1.690 billion, up 15.9% year-over-year
- GAAP net income of $665.4 million, or $2.08 per diluted share
- Non-GAAP net income of $672.6 million, or $2.10 per diluted share
- GAAP gross margin of 64.9% and non-GAAP gross margin of 65.4%
Arista also announced several product innovations, including next-generation Multi-Domain Segmentation for zero trust networking, AI Data Center solutions in collaboration with NVIDIA, and the Etherlink AI networking platforms. The company's Q3 2024 outlook projects revenue between $1.72 billion to $1.75 billion and a non-GAAP operating margin of approximately 44%.
Arista Networks (NYSE: ANET) will announce its Q2 2024 financial results on July 30th, 2024, after the U.S. markets close. The results will be posted on the Investor Relations section of Arista's website. A conference call will be held at 1:30 p.m. PT (4:30 p.m. ET) to discuss the financial results and business highlights. Interested parties can dial in or access a live webcast on the company's website. Additionally, Arista will participate in several upcoming investor events, including the KeyBanc Capital Markets Technology Leadership Forum on August 5, 2024, the Deutsche Bank Technology Conference on August 29, 2024, the Citi Global TMT Conference on September 4, 2024, and the Goldman Sachs Communacopia + Technology Conference on September 10, 2024. Live audio webcasts for these events will be available on Arista's website.
Celestial AI has appointed Kelyn Brannon as its new Chief Financial Officer (CFO), effective June 3, 2024. Brannon brings over 30 years of experience in corporate finance and investor relations, having previously served as CFO at notable companies including Calix, Arista Networks, and Astra Space. She has successfully led three IPOs on major stock exchanges. Celestial AI's CEO, David Lazovsky, praised Brannon's extensive experience and believes her expertise will be instrumental in guiding the company's financial strategy.
Prior to joining Celestial AI, Brannon served as CFO of Siprocal and Astra Space, where she played a key role in their financial growth and public offerings. Brannon expressed enthusiasm about joining Celestial AI and contributing to its innovative optical interconnect technology in the rapidly expanding AI industry.
Arista Networks (NYSE: ANET) has launched the Etherlink AI platforms, designed to optimize network performance for AI workloads, including training and inferencing. The portfolio supports AI clusters of thousands to over 100,000 XPUs with efficient one and two-tier network topologies.
The 7060X6 AI Leaf switch and the 7800R4 AI Spine switch employ Broadcom’s latest silicon, with the latter supporting up to 460 Tbps. The 7700R4 AI Distributed Etherlink Switch (DES) supports the largest AI clusters with advanced traffic management.
All switches adhere to emerging Ultra Ethernet Consortium (UEC) standards, offering future performance benefits. The Arista EOS Smart AI Suite enhances AI network deployment, security, and performance analysis.
The 7060X6 is available now, while the 7800R4 AI and 7700R4 DES will be available in the second half of 2024.
Arista Networks (NYSE: ANET) announced a collaboration with NVIDIA to demonstrate AI Data Centers that align compute and network domains as a single managed AI entity. This initiative aims to build optimal generative AI networks with reduced job completion times by allowing customers to configure, manage, and monitor AI clusters uniformly across networks, NICs, and servers.
An Arista EOS-based agent enables seamless communication and coordination between AI networking and compute infrastructure, hosted on NVIDIA BlueField-3 SuperNIC or servers. This new technology ensures end-to-end network configuration and QoS consistency, optimizing AI clusters as a single solution.
The demonstration highlights the ability to manage AI clusters holistically, improving job completion times and addressing performance degradation issues. The AI Agent technology will be showcased at Arista’s IPO 10th anniversary event on June 5, with customer trials expected in the second half of 2024.
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