Income Statement

Quarterly Annual

Selected Year:

31-Dec
2020

Gross receipts in the form of cash (great!) and promises to pay (Account Receivables - not so great as some of them will never be collected but reality of business!) from all its customers

100%

	2012 31-Dec	2013 31-Dec	2014 31-Dec	2015 31-Dec	2016 31-Dec	2017 31-Dec	2018 31-Dec	2019 31-Dec	Selected Year: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Service revenue	-	45,679	45,679	45,679	45,679	213,376	310,269	389,556	486,670	486,670	520,804
Product revenue	-	$45,679	$45,679	$45,679	$45,679	1,432,810	1,841,100	2,021,150	1,830,842	1,830,842	2,073,124
Total Revenue	$45,679	$45,679	$45,679	$45,679	$45,679	$1,646,186	$2,151,369	$2,410,706	$2,317,512	$2,317,512	$2,593,928

Selected Year:

31-Dec
2020

Cost (labor, materials, depreciation, overhead, etc) for delivering service or manufacturing a product that business sells

69.8%

	2012 31-Dec	2013 31-Dec	2014 31-Dec	2015 31-Dec	2016 31-Dec	2017 31-Dec	2018 31-Dec	2019 31-Dec	Selected Year: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Cost of revenue	45,679	-	-	-	-	-	-	-	-	-	-
Cost of Product	-	45,679	45,679	45,679	45,679	538,035	720,584	792,382	749,962	749,962	841,744
Service costs	-	45,679	45,679	45,679	45,679	46,382	57,408	73,986	85,664	85,664	93,848
Total cost of revenue	45,679	45,679	45,679	45,679	45,679	584,417	777,992	866,368	835,626	835,626	935,592
Gross profit	45,679	45,679	45,679	45,679	45,679	$1,061,769	$1,373,377	$1,544,338	$1,481,886	$1,481,886	$1,658,336
Sales and marketing	45,679	45,679	45,679	45,679	45,679	155,105	187,142	213,907	229,366	229,366	270,684
Research and development	45,679	45,679	45,679	45,679	45,679	349,594	442,468	462,759	486,594	486,594	535,388
General and administrative	45,679	45,679	45,679	45,679	45,679	86,798	65,420	61,898	66,242	66,242	73,712
Litigation settlement	-	-	-	-	45,679	-	405,000	-	-	-	-
Total operating expenses	45,679	45,679	45,679	45,679	45,679	$591,497	$1,100,030	$738,564	$782,202	$782,202	$879,784

Selected Year:

31-Dec
2020

Income after excluding Operating Expenses from Total Revenue

30.2%

Key metric that shows earnings potential of the company's business model

	2012 31-Dec	2013 31-Dec	2014 31-Dec	2015 31-Dec	2016 31-Dec	2017 31-Dec	2018 31-Dec	2019 31-Dec	Selected Year: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Operating income	$45,679	$45,679	$45,679	$45,679	$45,679	$470,272	$273,347	$805,774	$699,684	$699,684	$778,552

Selected Year:

31-Dec
2020

Cost usually unrelated to delivering service or manufacturing a product that business sells

1.7%

	2012 31-Dec	2013 31-Dec	2014 31-Dec	2015 31-Dec	2016 31-Dec	2017 31-Dec	2018 31-Dec	2019 31-Dec	Selected Year:	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Other expense or income	45,679	45,679	45,679	45,679	45,679	4,488	15,454	56,496	-	-	-
Other income	-	-	-	-	-	-	15,454	56,496	39,179	39,179	22,168
Total non-operating income (expense)	45,679	45,679	45,679	45,679	45,679	4,488	15,454	56,496	39,179	39,179	22,168

Selected Year:

31-Dec
2020

Income after excluding Operating and Non-operating Expenses from Total Revenue

31.9%

Another income metric but unlike Operating Income it is closer to the ultimate income metric - Net Income by removing expenses that are not related to earning Revenue as they are supposed to be accidental and transitory

	2012 31-Dec	2013 31-Dec	2014 31-Dec	2015 31-Dec	2016 31-Dec	2017 31-Dec	2018 31-Dec	2019 31-Dec	Selected Year: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
EBIT	$45,679	$45,679	$45,679	$45,679	$45,679	$474,760	$288,801	$862,270	$738,863	$738,863	$800,720

Selected Year:

31-Dec
2020

Expenses driven mostly by company management's choices, nature of business (capital intensive vs not) about financing (debt vs equity) and legal structure

4.5%

	2012 31-Dec	2013 31-Dec	2014 31-Dec	2015 31-Dec	2016 31-Dec	2017 31-Dec	2018 31-Dec	2019 31-Dec	Selected Year: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Interest expense and/or income	45,679	45,679	45,679	45,679	45,679	(2,780)	(2,701)	-	-	-	-
Interest expense related parties	45,679	45,679	-	-	-	-	-	-	-	-	-
Total other expense or income	45,679	45,679	45,679	45,679	45,679	4,488	15,454	-	-	-	-
Income before income taxes	45,679	45,679	45,679	45,679	45,679	474,760	288,801	862,270	738,863	738,863	800,720
Income tax expense or benefit	45,679	45,679	45,679	45,679	45,679	51,559	(39,314)	2,403	104,306	104,306	68,888

Selected Year:

31-Dec
2020

Ultimate measure of Income - Net result after excluding all expenses from Total Revenue

27.4%

It is a residue that is left from Total Revenue after paying all kind of expenses and belongs to all equity holders in the company. Some of these shareholders such Non-controlling interest or Preferred equity gets their share before Common shareholders

	2012 31-Dec	2013 31-Dec	2014 31-Dec	2015 31-Dec	2016 31-Dec	2017 31-Dec	2018 31-Dec	2019 31-Dec	Selected Year: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Net income (loss)	$45,679	$45,679	$45,679	$45,679	$45,679	$423,201	$328,115	$859,867	$634,557	$634,557	-
Net income (loss) attributable to common stock - basic Net income (loss) attributable to common stock - basic	45,679	45,679	45,679	45,679	45,679	422,400	327,926	859,444	634,557	634,557	731,832
Diluted	45,679	45,679	45,679	45,679	45,679	422,468	327,941	859,468	634,557	634,557	731,832

Basic shares outstanding as of certain dates reported by Company on its annual and quarterly filings, these numbers are NOT used calculation of basic EPS. They help to see share issuance by company in perspective

	2012 31-Dec	2013 31-Dec	2015 06-Mar	2016 19-Feb	2017 10-Feb	2018 09-Feb	2019 08-Feb	2020 10-Feb	2021 12-Feb	2021 12-Feb	2021 12-Feb
Common	-	-	45,678,795	45,678,795	45,678,795	73,875,377	75,730,873	76,479,227	76,331,573	76,331,573	76,331,573

Selected Year:

31-Dec
2020

Net Income / Shares Outstanding = EPS before dilution or Basic EPS; Net Income/ ( Shares Outstanding + potentially available shares from conversion of various option instruments)

	2012 31-Dec	2013 31-Dec	2014 31-Dec	2015 31-Dec	2016 31-Dec	2017 31-Dec	2018 31-Dec	2019 31-Dec	Selected Year: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Net Income per basic share	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$5.85	$4.39	$11.26	$8.35	$8.35	$9.64
Net Income per diluted share	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$5.35	$4.06	$10.63	$7.99	$7.99	$9.24

Arista Networks Inc

Short Description

Income Statement

Product revenue

Service revenue

Cost of Product

Research and development

Sales and marketing

Service costs

General and administrative

Litigation settlement

Operating Income

Other income

EBIT

Income tax expense or benefit

Net income (loss)