NVIDIA (NASDAQ: NVDA) immediately reported document income for the fourth quarter ended January 25, 2026, of $68.1 billion, up 20% from the earlier quarter and up 73% from a 12 months in the past. For fiscal 2026, income was $215.9 billion, up 65% from a 12 months in the past.
For the quarter, GAAP and non-GAAP gross margins had been 75.0% and 75.2%, respectively. For fiscal 2026, GAAP and non-GAAP gross margins had been 71.1% and 71.3%, respectively.
For the quarter, GAAP and non-GAAP earnings per diluted share had been $1.76 and $1.62, respectively. For fiscal 2026, GAAP and non-GAAP earnings per diluted share had been $4.90 and $4.77, respectively.
“Computing demand is growing exponentially — the agentic AI inflection point has arrived. Grace Blackwell with NVLink is the king of inference today — delivering an order-of-magnitude lower cost per token — and Vera Rubin will extend that leadership even further,” stated Jensen Huang, founder and CEO of NVIDIA. “Enterprise adoption of agents is skyrocketing. Our customers are racing to invest in AI compute — the factories powering the AI industrial revolution and their future growth.”
During fiscal 2026, NVIDIA returned $41.1 billion to shareholders within the type of shares repurchased and money dividends. As of the tip of the fourth quarter, the corporate had $58.5 billion remaining underneath its share repurchase authorization.
NVIDIA pays its subsequent quarterly money dividend of $0.01 per share on April 1, 2026, to all shareholders of document on March 11, 2026.
This fall Fiscal 2026 Summary
| GAAP | ||||||||||||||
| ($ in hundreds of thousands, besides earnings per share) | This fall FY26 | Q3 FY26 | This fall FY25 | Q/Q | Y/Y | |||||||||
| Revenue | $68,127 | $57,006 | $39,331 | 20 % | 73 % | |||||||||
| Gross margin | 75.0 % | 73.4 % | 73.0 % | 1.6 pts | 2.0 pts | |||||||||
| Operating bills | $6,794 | $5,839 | $4,689 | 16 % | 45 % | |||||||||
| Operating earnings | $44,299 | $36,010 | $24,034 | 23 % | 84 % | |||||||||
| Net earnings | $42,960 | $31,910 | $22,091 | 35 % | 94 % | |||||||||
| Diluted earnings per share | $1.76 | $1.30 | $0.89 | 35 % | 98 % | |||||||||
| Non-GAAP | ||||||||||||||
| ($ in hundreds of thousands, besides earnings per share) | This fall FY26 | Q3 FY26 | This fall FY25 | Q/Q | Y/Y | |||||||||
| Revenue | $68,127 | $57,006 | $39,331 | 20 % | 73 % | |||||||||
| Gross margin | 75.2 % | 73.6 % | 73.5 % | 1.6 pts | 1.7 pts | |||||||||
| Operating bills | $5,102 | $4,215 | $3,378 | 21 % | 51 % | |||||||||
| Operating earnings | $46,107 | $37,752 | $25,516 | 22 % | 81 % | |||||||||
| Net earnings | $39,552 | $31,767 | $22,066 | 25 % | 79 % | |||||||||
| Diluted earnings per share | $1.62 | $1.30 | $0.89 | 25 % | 82 % | |||||||||
Fiscal 2026 Summary
| GAAP | ||||||||||||||||
| ($ in hundreds of thousands, besides earnings per share) | FY26 | FY25 | Y/Y | |||||||||||||
| Revenue | $215,938 | $130,497 | 65 % | |||||||||||||
| Gross margin | 71.1 % | 75.0 % | (3.9) pts | |||||||||||||
| Operating bills | $23,076 | $16,405 | 41 % | |||||||||||||
| Operating earnings | $130,387 | $81,453 | 60 % | |||||||||||||
| Net earnings | $120,067 | $72,880 | 65 % | |||||||||||||
| Diluted earnings per share | $4.90 | $2.94 | 67 % | |||||||||||||
| Non-GAAP | ||||||||||||||||
| ($ in hundreds of thousands, besides earnings per share) | FY26 | FY25 | Y/Y | |||||||||||||
| Revenue | $215,938 | $130,497 | 65 % | |||||||||||||
| Gross margin | 71.3 % | 75.5 % | (4.2) pts | |||||||||||||
| Operating bills | $16,694 | $11,716 | 42 % | |||||||||||||
| Operating earnings | $137,300 | $86,789 | 58 % | |||||||||||||
| Net earnings | $116,997 | $74,265 | 58 % | |||||||||||||
| Diluted earnings per share | $4.77 | $2.99 | 60 % | |||||||||||||
Outlook
Beginning within the first quarter of fiscal 2027, NVIDIA will embrace stock-based compensation expense in non-GAAP monetary measures. Stock-based compensation is a foundational part of NVIDIA’s compensation program to draw and retain world-class expertise.
NVIDIA’s outlook for the primary quarter of fiscal 2027 is as follows:
- Revenue is anticipated to be $78.0 billion, plus or minus 2%. NVIDIA isn’t assuming any Data Center compute income from China in its outlook.
- GAAP and non-GAAP gross margins are anticipated to be 74.9% and 75.0%, respectively, plus or minus 50 foundation factors, inclusive of a 0.1% affect from stock-based compensation expense.
- GAAP and non-GAAP working bills are anticipated to be roughly $7.7 billion and $7.5 billion, respectively, inclusive of $1.9 billion of stock-based compensation expense.
For the complete 12 months fiscal 2027, GAAP and non-GAAP tax charges are anticipated to be between 17.0% and 19.0%, excluding any discrete gadgets and materials adjustments to NVIDIA’s tax surroundings.
Highlights
Data Center
- Fourth-quarter income was a document $62.3 billion, up 22% from the earlier quarter and up 75% from a 12 months in the past, pushed by the foremost platform shifts — accelerated computing and AI. Full-year income rose 68% to a document $193.7 billion.
- Unveiled the NVIDIA Rubin platform, comprising six new chips to ship as much as a 10x discount in inference token price, in contrast with the NVIDIA Blackwell platform; cloud suppliers Amazon Web Services (AWS), Google Cloud, Microsoft Azure and Oracle Cloud Infrastructure will likely be among the many first to deploy Vera Rubin-based situations.
- Announced that the NVIDIA BlueField®-4 information processor powers the NVIDIA Inference Context Memory Storage Platform, a brand new class of AI-native storage infrastructure for the following frontier of AI.
- Announced a multiyear, multigenerational strategic partnership with Meta spanning on-premises, cloud and AI infrastructure, together with the large-scale deployment of NVIDIA CPUs, networking and hundreds of thousands of NVIDIA Blackwell and Rubin GPUs.
- Revealed that NVIDIA Blackwell Ultra delivers as much as 50x higher efficiency and 35x decrease price for agentic AI in contrast with the NVIDIA Hopper platform, based on new SemiAnalysis InferenceX benchmark outcomes.
- Expanded AWS partnership with new expertise integrations throughout interconnect expertise, cloud infrastructure, open fashions and bodily AI.
- Revealed that main inference suppliers, together with Baseten, DeepInfra, Fireworks AI and Together AI, minimize AI prices by as much as 10x with open supply fashions on NVIDIA Blackwell.
- Debuted the NVIDIA Nemotron™ 3 household of open fashions, information and libraries designed to energy clear, environment friendly and specialised agentic AI improvement throughout industries; launched new open models, information and instruments for agentic AI, bodily AI and autonomous car improvement.
- Announced an funding and deep expertise partnership with Anthropic, which is scaling its Claude mannequin on Microsoft Azure, powered by NVIDIA programs.
- Entered right into a non-exclusive licensing settlement with Groq to speed up AI inference at world scale.
- Strengthened a collaboration with CoreWeave to speed up the buildout of greater than 5 gigawatts of AI factories by 2030.
- Announced an expanded strategic partnership with Synopsys to revolutionize engineering and design throughout industries.
- Announced a co-innovation AI lab with Lilly to reinvent drug discovery within the age of AI.
- Announced a serious enlargement of NVIDIA BioNeMo™, an open improvement platform that allows lab-in-the-loop workflows to develop breakthroughs in AI-driven biology and drug discovery.
- Joined the U.S. Department of Energy’s Genesis Mission as a personal business associate to assist U.S. AI management in key areas together with power, scientific analysis and nationwide safety.
- Launched the NVIDIA Earth-2 household of open fashions — the world’s first absolutely open, accelerated set of fashions and instruments for AI climate.
- Revealed that India’s world programs integrators Infosys, Persistent, Tech Mahindra and Wipro are constructing the following wave of enterprise brokers with NVIDIA AI.
- Partnered with world industrial software program leaders Cadence, Siemens and Synopsys and India’s largest producers to drive India’s AI increase utilizing purposes accelerated by NVIDIA CUDA-X™ and NVIDIA Omniverse™ libraries.
Gaming and AI PC
- Fourth-quarter Gaming income was $3.7 billion, up 47% from a 12 months in the past, pushed by robust Blackwell demand, and down 13% from the earlier quarter as channel stock naturally moderated following a season of robust vacation demand. Full-year income rose 41% to a document $16.0 billion.
- Announced NVIDIA DLSS 4.5, delivering main AI-powered advances in graphics high quality.
- Launched NVIDIA G-SYNC® Pulsar, extending the last word gaming show platform with new ranges of movement readability in esports.
- Advanced NVIDIA RTX™ AI efficiency and adoption, delivering as much as 35% quicker massive language mannequin inference in main AI PC frameworks and as much as 3x efficiency in AI-generated visuals.
Professional Visualization
- Fourth-quarter income was $1.3 billion, up 74% from the earlier quarter and up 159% from a 12 months in the past, pushed by distinctive demand for Blackwell. Full-year income rose 70% to a document $3.2 billion.
- Launched the NVIDIA RTX PRO™ 5000 72GB Blackwell GPU to energy bigger fashions and agentic workflows.
- Expanded world availability of NVIDIA DGX Spark™ for the newest open fashions and delivered updates for improved efficiency.
Automotive and Robotics
- Fourth-quarter Automotive income was $604 million, up 2% from the earlier quarter and up 6% from a 12 months in the past, pushed by continued adoption of NVIDIA’s self-driving platforms. Full-year income rose 39% to a document $2.3 billion.
- Unveiled the NVIDIA Alpamayo household of open AI fashions, simulation instruments and datasets designed to speed up the following period of protected, reasoning‑based mostly autonomous car (AV) improvement.
- Partnered with Mercedes-Benz on the all-new Mercedes-Benz CLA, which introduces enhanced stage 2 driver help powered by NVIDIA DRIVE AV software program, AI infrastructure and accelerated compute.
- Announced that the NVIDIA DRIVE Hyperion™ ecosystem is increasing to incorporate tier 1 suppliers, automotive integrators and sensor companions together with Aeva, AUMOVIO, Astemo, Arbe, Bosch, Hesai, Magna, Omnivision, Quanta, Sony and ZF Group.
- Announced new NVIDIA Cosmos™ and NVIDIA Isaac™ GR00T open fashions, frameworks and AI infrastructure for bodily AI; world business leaders together with Boston Dynamics, Caterpillar, Franka Robotics, Humanoid, LG Electronics and NEURA Robotics are utilizing the NVIDIA robotics stack.
- Expanded a strategic partnership with Siemens to construct the economic AI working system.
- Announced a strategic partnership with Dassault Systèmes to construct an industrial AI platform powering digital twins.
CFO Commentary
Commentary on the quarter by Colette Kress, NVIDIA’s government vice chairman and chief monetary officer, is offered at https://investor.nvidia.com.
Conference Call and Webcast Information
NVIDIA will conduct a convention name with analysts and traders to debate its fourth quarter and financial 2026 monetary outcomes and present monetary prospects immediately at 2 p.m. Pacific time (5 p.m. Eastern time). A dwell webcast (listen-only mode) of the convention name will likely be accessible at NVIDIA’s investor relations web site, https://investor.nvidia.com. The webcast will likely be recorded and obtainable for replay till NVIDIA’s convention name to debate its monetary outcomes for its first quarter of fiscal 2027.
Non-GAAP Measures
To complement NVIDIA’s condensed consolidated monetary statements offered in accordance with GAAP, the corporate makes use of non-GAAP measures of sure elements of economic efficiency. These non-GAAP measures embrace non-GAAP gross revenue, non-GAAP gross margin, non-GAAP working bills, non-GAAP working earnings, non-GAAP different earnings (expense), internet, non-GAAP internet earnings, non-GAAP internet earnings, or earnings, per diluted share, and free money stream. For NVIDIA’s traders to be higher in a position to evaluate its present outcomes with these of earlier durations, the corporate has proven a reconciliation of GAAP to non-GAAP monetary measures. The reconciliations for fiscal years 2025 and 2026 modify the associated GAAP monetary measures to exclude stock-based compensation expense, acquisition-related and different prices, different, positive aspects/losses from non-marketable and publicly-held fairness securities, internet, curiosity expense associated to amortization of debt low cost, and the related tax affect of this stuff the place relevant. Beginning within the first quarter of fiscal 2027, NVIDIA’s non-GAAP monetary measures will not exclude stock-based compensation expense. Free money stream is calculated as GAAP internet money offered by working actions much less each purchases associated to property and gear and intangible property and principal funds on property and gear and intangible property. NVIDIA believes the presentation of its non-GAAP monetary measures enhances the consumer’s total understanding of the corporate’s historic monetary efficiency. The presentation of the corporate’s non-GAAP monetary measures isn’t meant to be thought-about in isolation or as an alternative choice to the corporate’s monetary outcomes ready in accordance with GAAP, and the corporate’s non-GAAP measures could also be totally different from non-GAAP measures utilized by different firms.
| NVIDIA CORPORATION | |||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF INCOME | |||||||||||||||||
| (In hundreds of thousands, besides per share information) | |||||||||||||||||
| (Unaudited) | |||||||||||||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||||
| January 25, | January 26, | January 25, | January 26, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||
| Revenue | $ | 68,127 | $ | 39,331 | $ | 215,938 | $ | 130,497 | |||||||||
| Cost of income | 17,034 | 10,608 | 62,475 | 32,639 | |||||||||||||
| Gross revenue | 51,093 | 28,723 | 153,463 | 97,858 | |||||||||||||
| Operating bills | |||||||||||||||||
| Research and improvement | 5,512 | 3,714 | 18,497 | 12,914 | |||||||||||||
| Sales, common and administrative | 1,282 | 975 | 4,579 | 3,491 | |||||||||||||
| Total working bills | 6,794 | 4,689 | 23,076 | 16,405 | |||||||||||||
| Operating earnings | 44,299 | 24,034 | 130,387 | 81,453 | |||||||||||||
| Interest earnings | 568 | 511 | 2,300 | 1,786 | |||||||||||||
| Interest expense | (74 | ) | (61 | ) | (259 | ) | (247 | ) | |||||||||
| Other earnings, internet | 5,604 | 733 | 9,022 | 1,034 | |||||||||||||
| Total different earnings, internet | 6,098 | 1,183 | 11,063 | 2,573 | |||||||||||||
| Income earlier than earnings tax | 50,397 | 25,217 | 141,450 | 84,026 | |||||||||||||
| Income tax expense | 7,437 | 3,126 | 21,383 | 11,146 | |||||||||||||
| Net earnings | $ | 42,960 | $ | 22,091 | $ | 120,067 | $ | 72,880 | |||||||||
| Net earnings per share: | |||||||||||||||||
| Basic | $ | 1.77 | $ | 0.90 | $ | 4.93 | $ | 2.97 | |||||||||
| Diluted | $ | 1.76 | $ | 0.89 | $ | 4.90 | $ | 2.94 | |||||||||
| Weighted common shares utilized in per share computation: | |||||||||||||||||
| Basic | 24,304 | 24,489 | 24,359 | 24,555 | |||||||||||||
| Diluted | 24,432 | 24,706 | 24,514 | 24,804 | |||||||||||||
| NVIDIA CORPORATION | ||||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||
| (In hundreds of thousands) | ||||||||
| (Unaudited) | ||||||||
| January 25, | January 26, | |||||||
| 2026 | 2025 | |||||||
| ASSETS | ||||||||
| Current property: | ||||||||
| Cash, money equivalents and marketable securities | $ | 62,556 | $ | 43,210 | ||||
| Accounts receivable, internet | 38,466 | 23,065 | ||||||
| Inventories | 21,403 | 10,080 | ||||||
| Prepaid bills and different present property | 3,180 | 3,771 | ||||||
| Total present property | 125,605 | 80,126 | ||||||
| Property and gear, internet | 10,383 | 6,283 | ||||||
| Operating lease property | 2,867 | 1,793 | ||||||
| Goodwill | 20,832 | 5,188 | ||||||
| Intangible property, internet | 3,306 | 807 | ||||||
| Deferred earnings tax property | 13,258 | 10,979 | ||||||
| Non-marketable fairness securities | 22,251 | 3,387 | ||||||
| Other property | 8,301 | 3,038 | ||||||
| Total property | $ | 206,803 | $ | 111,601 | ||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 9,812 | $ | 6,310 | ||||
| Accrued and different present liabilities | 21,352 | 11,737 | ||||||
| Short-term debt | 999 | – | ||||||
| Total present liabilities | 32,163 | 18,047 | ||||||
| Long-term debt | 7,469 | 8,463 | ||||||
| Long-term working lease liabilities | 2,572 | 1,519 | ||||||
| Other long-term liabilities | 7,306 | 4,245 | ||||||
| Total liabilities | 49,510 | 32,274 | ||||||
| Shareholders’ fairness | 157,293 | 79,327 | ||||||
| Total liabilities and shareholders’ fairness | $ | 206,803 | $ | 111,601 | ||||
| NVIDIA CORPORATION | |||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||||||||||
| (In hundreds of thousands) | |||||||||||||||||
| (Unaudited) | |||||||||||||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||||
| January 25, | January 26, | January 25, | January 26, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||
| Cash flows from working actions: | |||||||||||||||||
| Net earnings | $ | 42,960 | $ | 22,091 | $ | 120,067 | $ | 72,880 | |||||||||
| Adjustments to reconcile internet earnings to internet money | |||||||||||||||||
| offered by working actions: | |||||||||||||||||
| Stock-based compensation expense | 1,633 | 1,321 | 6,386 | 4,737 | |||||||||||||
| Depreciation and amortization | 811 | 543 | 2,843 | 1,864 | |||||||||||||
| Gains on non-marketable fairness securities and publicly-held fairness securities, internet | (5,491 | ) | (727 | ) | (8,918 | ) | (1,030 | ) | |||||||||
| Deferred earnings taxes | 611 | (598 | ) | (1,424 | ) | (4,477 | ) | ||||||||||
| Other | (9 | ) | (138 | ) | (287 | ) | (502 | ) | |||||||||
| Changes in working property and liabilities, internet of acquisitions: | |||||||||||||||||
| Accounts receivable | (5,073 | ) | (5,370 | ) | (15,399 | ) | (13,063 | ) | |||||||||
| Inventories | (1,621 | ) | (2,424 | ) | (11,324 | ) | (4,781 | ) | |||||||||
| Prepaid bills and different property | (281 | ) | 331 | 577 | (395 | ) | |||||||||||
| Accounts payable | 1,064 | 867 | 3,096 | 3,357 | |||||||||||||
| Accrued and different present liabilities | 1,053 | 360 | 5,257 | 4,278 | |||||||||||||
| Other long-term liabilities | 533 | 372 | 1,844 | 1,221 | |||||||||||||
| Net money offered by working actions | 36,190 | 16,628 | 102,718 | 64,089 | |||||||||||||
| Cash flows from investing actions: | |||||||||||||||||
| Proceeds from gross sales of marketable securities | 14,670 | 177 | 15,157 | 495 | |||||||||||||
| Proceeds from maturities of marketable securities | 2,246 | 1,710 | 11,226 | 11,195 | |||||||||||||
| Proceeds from gross sales of non-marketable fairness securities | 12 | – | 84 | 171 | |||||||||||||
| Purchases of marketable securities | (20,540 | ) | (7,010 | ) | (40,616 | ) | (26,575 | ) | |||||||||
| Purchases of non-marketable fairness securities | (12,800 | ) | (478 | ) | (17,502 | ) | (1,486 | ) | |||||||||
| Groq, Inc. | (13,000 | ) | – | (13,000 | ) | – | |||||||||||
| Purchases associated to property and gear and intangible property | (1,284 | ) | (1,077 | ) | (6,042 | ) | (3,236 | ) | |||||||||
| Acquisitions, internet of money acquired | (165 | ) | (542 | ) | (1,535 | ) | (1,007 | ) | |||||||||
| Other | – | 22 | – | 22 | |||||||||||||
| Net money utilized in investing actions | (30,861 | ) | (7,198 | ) | (52,228 | ) | (20,421 | ) | |||||||||
| Cash flows from financing actions: | |||||||||||||||||
| Proceeds associated to worker inventory plans | – | – | 644 | 490 | |||||||||||||
| Payments associated to repurchases of widespread inventory | (3,815 | ) | (7,810 | ) | (40,086 | ) | (33,706 | ) | |||||||||
| Payments associated to worker inventory plan taxes | (2,139 | ) | (1,861 | ) | (7,948 | ) | (6,930 | ) | |||||||||
| Dividends paid | (243 | ) | (245 | ) | (974 | ) | (834 | ) | |||||||||
| Principal funds on property and gear and intangible property | (4 | ) | (32 | ) | (101 | ) | (129 | ) | |||||||||
| Repayment of debt | – | – | – | (1,250 | ) | ||||||||||||
| Other | (9 | ) | – | (9 | ) | – | |||||||||||
| Net money utilized in financing actions | (6,210 | ) | (9,948 | ) | (48,474 | ) | (42,359 | ) | |||||||||
| Change in money and money equivalents | (881 | ) | (518 | ) | 2,016 | 1,309 | |||||||||||
| Cash and money equivalents at starting of interval | 11,486 | 9,107 | 8,589 | 7,280 | |||||||||||||
| Cash and money equivalents at finish of interval | $ | 10,605 | $ | 8,589 | $ | 10,605 | $ | 8,589 | |||||||||
| Supplemental disclosures of money stream info: | |||||||||||||||||
| Cash paid for earnings taxes, internet | $ | 6,979 | $ | 4,129 | $ | 20,288 | $ | 15,118 | |||||||||
| NVIDIA CORPORATION | |||||||||||||||||||||
| RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES | |||||||||||||||||||||
| (In hundreds of thousands, besides per share information) | |||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||||||||
| January 25, | October 26, | January 26, | January 25, | January 26, | |||||||||||||||||
| 2026 | 2025 | 2025 | 2026 | 2025 | |||||||||||||||||
| GAAP price of income | $ | 17,034 | $ | 15,157 | $ | 10,608 | $ | 62,475 | $ | 32,639 | |||||||||||
| GAAP gross revenue | $ | 51,093 | $ | 41,849 | $ | 28,723 | $ | 153,463 | $ | 97,858 | |||||||||||
| GAAP gross margin | 75.0% | 73.4% | 73.0% | 71.1% | 75.0% | ||||||||||||||||
| Acquisition-related and different prices (A) | 48 | 48 | 118 | 267 | 472 | ||||||||||||||||
| Stock-based compensation expense (B) | 69 | 70 | 53 | 261 | 178 | ||||||||||||||||
| Other | (1 | ) | – | – | 3 | (3 | ) | ||||||||||||||
| Non-GAAP price of income | $ | 16,918 | $ | 15,039 | $ | 10,437 | $ | 61,944 | $ | 31,992 | |||||||||||
| Non-GAAP gross revenue | $ | 51,209 | $ | 41,967 | $ | 28,894 | $ | 153,994 | $ | 98,505 | |||||||||||
| Non-GAAP gross margin** | 75.2% | 73.6% | 73.5% | 71.3% | 75.5% | ||||||||||||||||
| GAAP working bills | $ | 6,794 | $ | 5,839 | $ | 4,689 | $ | 23,076 | $ | 16,405 | |||||||||||
| Stock-based compensation expense (B) | (1,564 | ) | (1,585 | ) | (1,268 | ) | (6,125 | ) | (4,559 | ) | |||||||||||
| Acquisition-related and different prices (A) | (90 | ) | (39 | ) | (43 | ) | (204 | ) | (130 | ) | |||||||||||
| Other | (38 | ) | – | – | (53 | ) | – | ||||||||||||||
| Non-GAAP working bills | $ | 5,102 | $ | 4,215 | $ | 3,378 | $ | 16,694 | $ | 11,716 | |||||||||||
| GAAP working earnings | $ | 44,299 | $ | 36,010 | $ | 24,034 | $ | 130,387 | $ | 81,453 | |||||||||||
| Total affect of non-GAAP changes to working earnings | 1,808 | 1,742 | 1,482 | 6,913 | 5,336 | ||||||||||||||||
| Non-GAAP working earnings | $ | 46,107 | $ | 37,752 | $ | 25,516 | $ | 137,300 | $ | 86,789 | |||||||||||
| GAAP whole different earnings, internet | $ | 6,098 | $ | 1,926 | $ | 1,183 | $ | 11,063 | $ | 2,573 | |||||||||||
| Gains from non-marketable fairness securities and publicly-held fairness securities, internet | (5,491 | ) | (1,354 | ) | (727 | ) | (8,918 | ) | (1,030 | ) | |||||||||||
| Other (C) | 13 | 1 | 1 | 16 | 4 | ||||||||||||||||
| Non-GAAP whole different earnings, internet | $ | 620 | $ | 573 | $ | 457 | $ | 2,161 | $ | 1,547 | |||||||||||
| GAAP internet earnings | $ | 42,960 | $ | 31,910 | $ | 22,091 | $ | 120,067 | $ | 72,880 | |||||||||||
| Total pre-tax affect of non-GAAP changes | (3,670 | ) | 389 | 756 | (1,989 | ) | 4,310 | ||||||||||||||
| Income tax affect of non-GAAP changes (D) | 262 | (532 | ) | (781 | ) | (1,129 | ) | (2,925 | ) | ||||||||||||
| Tax expense from OBBBA* | – | – | – | 48 | – | ||||||||||||||||
| Non-GAAP internet earnings** | $ | 39,552 | $ | 31,767 | $ | 22,066 | $ | 116,997 | $ | 74,265 | |||||||||||
| Diluted internet earnings per share | |||||||||||||||||||||
| GAAP | $ | 1.76 | $ | 1.30 | $ | 0.89 | $ | 4.90 | $ | 2.94 | |||||||||||
| Non-GAAP** | $ | 1.62 | $ | 1.30 | $ | 0.89 | $ | 4.77 | $ | 2.99 | |||||||||||
| Weighted common shares utilized in diluted internet earnings per share computation | 24,432 | 24,483 | 24,706 | 24,514 | 24,804 | ||||||||||||||||
| GAAP internet money offered by working actions | $ | 36,190 | $ | 23,750 | $ | 16,628 | $ | 102,718 | $ | 64,089 | |||||||||||
| Purchases associated to property and gear and intangible property | (1,284 | ) | (1,637 | ) | (1,077 | ) | (6,042 | ) | (3,236 | ) | |||||||||||
| Principal funds on property and gear and intangible property | (4 | ) | (24 | ) | (32 | ) | (101 | ) | (129 | ) | |||||||||||
| Free money stream | $ | 34,902 | $ | 22,089 | $ | 15,519 | $ | 96,575 | $ | 60,724 | |||||||||||
| *Tax expense included represents affect from OBBBA (One Big Beautiful Bill Act). | |||||||||||||||||||||
| **Includes H20 expenses/(releases), internet, which had been $4.5 billion and ($180 million) for the primary and second quarter of fiscal 2026, respectively, and insignificant for each the third and fourth quarter of fiscal 2026. | |||||||||||||||||||||
| (A) Acquisition-related and different prices are comprised of amortization of intangible property, transaction prices, and sure compensation expenses and are included within the following line gadgets: | |||||||||||||||||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||||||||
| January 25, | October 26, | January 26, | January 25, | January 26, | |||||||||||||||||
| 2026 | 2025 | 2025 | 2026 | 2025 | |||||||||||||||||
| Cost of income | $ | 48 | $ | 48 | $ | 118 | $ | 267 | $ | 472 | |||||||||||
| Research and improvement | $ | 83 | $ | 35 | $ | 27 | $ | 176 | $ | 79 | |||||||||||
| Sales, common and administrative | $ | 7 | $ | 4 | $ | 16 | $ | 28 | $ | 51 | |||||||||||
| (B) Stock-based compensation consists of the next: | |||||||||||||||||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||||||||
| January 25, | October 26, | January 26, | January 25, | January 26, | |||||||||||||||||
| 2026 | 2025 | 2025 | 2026 | 2025 | |||||||||||||||||
| Cost of income | $ | 69 | $ | 70 | $ | 53 | $ | 261 | $ | 178 | |||||||||||
| Research and improvement | $ | 1,217 | $ | 1,206 | $ | 955 | $ | 4,676 | $ | 3,423 | |||||||||||
| Sales, common and administrative | $ | 347 | $ | 379 | $ | 313 | $ | 1,449 | $ | 1,136 | |||||||||||
| (C) Interest expense associated to acquisition consideration low cost to be paid sooner or later and amortization of debt low cost. | |||||||||||||||||||||
| (D) Income tax affect of non-GAAP changes, together with the popularity of extra tax advantages or deficiencies associated to stock-based compensation underneath GAAP accounting normal (ASU 2016-09). | |||||||||||||||||||||
| NVIDIA CORPORATION | ||||
| RECONCILIATION OF GAAP TO NON-GAAP OUTLOOK | ||||
| Q1 FY27 Outlook | ||||
| ($ in hundreds of thousands) | ||||
| GAAP gross margin | 74.9% | |||
| Impact of acquisition-related prices and different prices | 0.1% | |||
| Non-GAAP gross margin* | 75.0% | |||
| GAAP working bills | $ | 7,700 | ||
| Acquisition-related prices and different prices | (200 | ) | ||
| Non-GAAP working bills* | $ | 7,500 | ||
| *Beginning within the first quarter of fiscal 2027, NVIDIA will embrace stock-based compensation expense in its non-GAAP monetary measures. Stock-based compensation expense for the primary quarter of fiscal 2027 is anticipated to have a 0.1% affect on non-GAAP gross margin and $1.9 billion in non-GAAP working bills. | ||||
