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Management credibility scorecard

Arista Networks (ANET)

3 quarters tracked (Q4'25 to Q2'26) · latest call August 4, 2026
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89%
Kept of 9 resolved - limited history
8
Kept or exceeded
1
Missed
3
Still pending
+0.6%
Share count, 3 yrs/yr · flat

Score History

QuarterCall dateDisclosureFinancial qualityKeptMissed
Q2'26August 4, 20267/121 high, 2 medium, 2 low flags00Call sheet →
Q1'26May 5, 202611/124 medium, 2 low flags31Call sheet →
Q4'25February 12, 20269/121 high, 4 medium, 1 low flags50Call sheet →
Disclosure: the 6-item rubric, each scored 0-2, out of 12. Financial quality: flagged indicators by severity. Kept and missed count the prior-quarter promises scored on that call.

Promise Ledger · All Quarters

MarkedStatusPromise
Q1'26Pending$1.25B campus revenue goal
Maintained target unchanged despite supply constraints
Q1'26MissedContinue to improve gross margins toward 64%
Gross margin declined to 62.4%, supply costs forcing margin pressure
Q1'26DeliveredScale-up revenue starting in 2027
Confirmed virtually zero in 2026, production scale in 2027 with ESUN spec
Q1'26PendingOne to two new 10% customers in 2026
Maintained same guidance, said demand is there but shipment timing uncertain
Q1'26Exceeded$3.25B AI revenue target for 2026
Raised to $3.5B, increase of $250M or 7.7%
Q1'26Exceeded25% revenue growth for 2026 to $11.25B
Raised to 27.7% growth targeting $11.5B, beat by $250M
Q4'25PendingFourth customer to cross 100K GPU deployment
Still 'below 100,000 GPUs' but expected 'to get there this year'
Q4'25DeliveredGross margin approximately 64% for 2025
Achieved 64.6% gross margin
Q4'25DeliveredOperating margin roughly 48% for 2025
Achieved 48.2% operating margin
Q4'25ExceededFull year 2025 revenue growth of 26-27%
Delivered 28.6% growth on $9B revenue
Q4'25Delivered$750M-$800M campus revenue for 2025
Exceeded $800M goal, now targeting $1.25B for 2026
Q4'25ExceededAI center target of at least $1.5B for 2025
Achieved $1.5B target and now guiding $3.25B for 2026
Each row is a promise from the prior call, scored against the quarter in "Marked". Kept-promise rate counts resolved promises only; pending is excluded.
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Promise-kept rate counts resolved promises only (pending excluded).
Scores, kept-promise rates, and flags on this site reflect the author's opinion, applying a stated methodology to statements management made on public earnings calls. Informational and educational purposes only - not investment advice, a recommendation, or an offer to buy or sell any security. Sources believed reliable but not guaranteed; the author may hold positions in the securities discussed.

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