Arista Networks, Inc.

Ms. Liz Stein, Arista's Director of Investor Relations, you may begin. Ms. Liz Stein, Arista's Director of Investor Relations, you may begin. Ms.

Liz Stein, Arista's Director of Investor Relations, you may begin. Ms. Liz Stein, Arista's Director of Investor Relations, you may begin. Ms. Liz Stein, Arista's Director of Investor Relations, you may begin. Ms. Liz Stein, Arista's Director of Investor Relations, you may begin. Ms. Liz Stein, Arista's Director of Investor Relations, you may begin. Ms. Liz Stein, Arista's Director of Investor Relations, you may begin. Ms. Liz Stein, Arista's Director of Investor Relations, you may begin. Ms. Liz Stein, Arista's Director of Investor Relations, you may begin. Ms. Liz Stein, Arista's Director of Investor Relations, you may begin. Ms. Liz Stein, Arista's Director of Investor Relations, you may begin. Ms. Liz Stein, Arista's If you would like a copy of this release, you can access it online at our website. During the course of this conference call, Arista Networks Management will make forward-looking statements, including those relating to our financial outlook for the third quarter of the 2024 fiscal year, longer-term financial outlooks for 2024 and beyond, our total addressable market and strategy for addressing these market opportunities, including AI, customer demand trends, supply chain constraints, component costs, manufacturing output, inventory management, and inflationary pressures on our business, lead times, product innovation, working capital optimization, and the benefits of acquisitions, which are subject to the risks and uncertainties that we discuss in detail in our documents filed with the SEC, specifically in our most recent Form 10-Q and Form 10-K, and which could cause actual results to differ materially from those anticipated by these statements. These forward-looking statements apply as of today, and you should not rely on them as representing our views in the future. We undertake no obligation to update these statements after this call. Also, please note that certain financial measures we use on the call are expressed on a non-GAAP basis and have been adjusted to exclude certain charges. We have provided reconciliations of these non-GAAP financial measures to GAAP financial measures in our earnings press release. With that, I will turn the call over to Jayshree.

Thank you, Liz, and thank you, everyone, for joining us this afternoon for our second quarter 2024 earnings call. As a pure-play networking innovator with greater than $70 billion TAM ahead of us, we are pleased with our superior execution this quarter. We delivered revenues of $1.69 billion for the quarter with a non-GAAP earnings per share of $2.10. Services and software support renewals contributed strongly at approximately 17.6% of revenue. Our non-GAAP gross margin of 65.4% was influenced by outstanding manufacturing disciplines realizing cost reductions. International contribution for the quarter registered at 19%, with the Americas strong at 81%. As we celebrated our 10th anniversary at the New York Stock Exchange with our near and dear investors and customers, we are now supporting over 10,000 customers with a cumulative of 100 million ports deployed worldwide. In June 2024, we launched Arista's EtherLink AI platforms that are ultra-Ethernet consortium compatible, validating the migration from InfiniBand to Ethernet. This is a rich portfolio of 800 gig products, not just a point product, but in fact, a complete portfolio that is both NIC and GPU agnostic. The AI portfolio consists of the 7060X6 AI leaf switch, that support 64, 800 gig or 128, 400 gig ethernet ports with a capacity of 51 terabits per second. The 7800R4 AI spine is our fourth generation of ERISA's flagship 7800, offering 100% non-blocking throughput with a proven virtual output queuing architecture. The 7800R4 supports up to 460 terabits in a single chassis corresponding to 576 800-gigabit Ethernet ports, or 1,152 400-gigabit port density. The 7700 R4 AI distributed EtherLink switch is a unique product offering with a massively parallel distributed scheduling and congestion-free traffic spraying fabric. The 7700 represents the first in a new series of ultra-scalable intelligent distributed systems that can deliver the highest consistent throughput for very large AI clusters. Let's just say once again, Arista is making Ethernet great. First, we began this journey with low latency in 2009 timeframe, and then there was cloud and routing in the 2015 era, followed by WAN and campus in the 2020 era, and now AI in our fifth generation in 2025 era. Our EtherLink portfolio is in the midst of trials and can support up to 100,000 XPUs in a two-tier design built on our proven and differentiated extensible OS. We are quite pleased with our progress across cloud, AI, campus, and enterprise customers. I would like to invite Ashwin Kohli, our newly appointed Chief Customer Officer, to describe our diverse set of customer wins in 2024. Ashwin, over to you.