Arista Networks Inc Q1 2021 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: David Vogt - UBS Investment Bank, Research Division - Analyst : And I just had a question about the supply chain and inventory. And maybe we can dig in a little bit deeper. So obviously, if you look at your inventory position, it's basically flat sequentially. How can we interpret that in terms of your commentary that you're spending capital to improve manufacturing, increase inventory when we should be expecting a fairly meaningful rent in the second half of the year from some of the Cloud Titans? And does your inventory position sort of -- without getting into the guidance, give us a sense of where you think 3Q might be at this point?

Question: David Vogt - UBS Investment Bank, Research Division - Analyst : And I don't have the Q in front of me. Can you tell us what the purchase commitment growth rate would be sort of on a year-over-year basis before the Q was filed? What was it last year at this point? Do you have that data handy?

Question: Samik Chatterjee - JPMorgan Chase & Co, Research Division - Analyst : Jayshree, I just wanted to go back to the breadth of the portfolio that you talked about, particularly with Enterprise customers. I know you've expanded the portfolio and generally, you, like, added campus, et cetera. You've launched CloudVision into that market. I think the broader impression still remains that some of the other companies are, like, position themselves for the next-generation enterprise network like SD-WAN. There are some private companies talking about multi-cloud networking. So just wanted to get your thoughts on where you are in terms of thinking about Arista's breadth today in terms of the portfolio and potential expansion there? How much of that is organic? Or how much do you see you need to kind of continue to expand through M&A?