Citing a recovering supply chain, Arista reported Q1 2023 revenue of $1.351 billion, an increase of 5.9% compared to the fourth quarter of 2022, and an increase of 54.1% from the first quarter of 2022. Non-GAAP net income was $452.5 million, or $1.43 per diluted share, compared to non-GAAP net income of $268.5 million, or $0.84 per diluted share in the first quarter of 2022. Non-GAAP gross margin was 60.3%, compared to non-GAAP gross margin of 61.0% in the fourth quarter of 2022 and 63.9% in the first quarter of 2022.
“Amid macroeconomic uncertainty and a gradually recovering supply chain, Arista continues to bring innovative, leading-edge platforms to market, while delivering superior customer and financial outcomes," said Jayshree Ullal, President and CEO of Arista Networks. “Our Q1 results illustrate this with continued growth in revenue and profits.”
Some notes
Americas sales were 82.5% for the quarter. International sales were 17.5%, down from 23.5% last quarter.
R&D spending anounted to $164.8 million, or 12.2% of revenue, up from $153.2 million last quarter.
At OFC, Arista previewed its vision for Linear Drive optics for intra and interdata center connectivity at 800 gig and beyond.
