The following two sections arrive in the following months. The first episode, Survive, will be out within four weeks of the initial release. That's been delayed, and will be episodically delivered. This will bring with it the full island of Altis, with 12 showcases and 3 faction showcases, 10 challenges, 9 multiplayer scenarios, but it won't bring the single-player campaign.
To Bohemia, the real launch will happen sometime in September. To me, it's out, even if there's more to come. I already sort of consider Arma 3 to be out, but I've sunk 40 hours into the alpha/beta/whatever, so that's skewed my view of it.