- Report quarterly income of $30.0 billion, up 15% from Q1 and up 122% from a yr in the past
- Report quarterly Knowledge Heart income of $26.3 billion, up 16% from Q1 and up 154% from a yr in the past
NVIDIA (NASDAQ: NVDA) right now reported income for the second quarter ended July 28, 2024, of $30.0 billion, up 15% from the earlier quarter and up 122% from a yr in the past.
For the quarter, GAAP earnings per diluted share was $0.67, up 12% from the earlier quarter and up 168% from a yr in the past. Non-GAAP earnings per diluted share was $0.68, up 11% from the earlier quarter and up 152% from a yr in the past.
“Hopper demand stays sturdy, and the anticipation for Blackwell is unbelievable,” mentioned Jensen Huang, founder and CEO of NVIDIA. “NVIDIA achieved report revenues as international information facilities are in full throttle to modernize your entire computing stack with accelerated computing and generative AI.”
“Blackwell samples are delivery to our companions and clients. Spectrum-X Ethernet for AI and NVIDIA AI Enterprise software program are two new product classes reaching vital scale, demonstrating that NVIDIA is a full-stack and information center-scale platform. Throughout your entire stack and ecosystem, we’re serving to frontier mannequin makers to shopper web providers, and now enterprises. Generative AI will revolutionize each {industry}.”
Throughout the first half of fiscal 2025, NVIDIA returned $15.4 billion to shareholders within the type of shares repurchased and money dividends. As of the tip of the second quarter, the corporate had $7.5 billion remaining beneath its share repurchase authorization. On August 26, 2024, the Board of Administrators accepted an extra $50.0 billion in share repurchase authorization, with out expiration.
NVIDIA pays its subsequent quarterly money dividend of $0.01 per share on October 3, 2024, to all shareholders of report on September 12, 2024.
On June 7, 2024, NVIDIA accomplished a ten-for-one ahead inventory cut up. All share and per-share quantities introduced have been retroactively adjusted to replicate the inventory cut up.
Q2 Fiscal 2025 Abstract
| GAAP | ||||||||
| ($ in hundreds of thousands, besides earnings per share) |
Q2 FY25 | Q1 FY25 | Q2 FY24 | Q/Q | Y/Y | |||
| Income | $30,040 | $26,044 | $13,507 | Up 15% | Up 122% | |||
| Gross margin | 75.1% | 78.4% | 70.1% | Down 3.3 pts | Up 5.0 pts | |||
| Working bills | $3,932 | $3,497 | $2,662 | Up 12% | Up 48% | |||
| Working earnings | $18,642 | $16,909 | $6,800 | Up 10% | Up 174% | |||
| Web earnings | $16,599 | $14,881 | $6,188 | Up 12% | Up 168% | |||
| Diluted earnings per share | $0.67 | $0.60 | $0.25 | Up 12% | Up 168% | |||
| Non-GAAP | ||||||||
| ($ in hundreds of thousands, besides earnings per share) |
Q2 FY25 | Q1 FY25 | Q2 FY24 | Q/Q | Y/Y | |||
| Income | $30,040 | $26,044 | $13,507 | Up 15% | Up 122% | |||
| Gross margin | 75.7% | 78.9% | 71.2% | Down 3.2 pts | Up 4.5 pts | |||
| Working bills | $2,792 | $2,501 | $1,838 | Up 12% | Up 52% | |||
| Working earnings | $19,937 | $18,059 | $7,776 | Up 10% | Up 156% | |||
| Web earnings | $16,952 | $15,238 | $6,740 | Up 11% | Up 152% | |||
| Diluted earnings per share | $0.68 | $0.61 | $0.27 | Up 11% | Up 152% | |||
Outlook
NVIDIA’s outlook for the third quarter of fiscal 2025 is as follows:
- Income is predicted to be $32.5 billion, plus or minus 2%.
- GAAP and non-GAAP gross margins are anticipated to be 74.4% and 75.0%, respectively, plus or minus 50 foundation factors. For the complete yr, gross margins are anticipated to be within the mid-70% vary.
- GAAP and non-GAAP working bills are anticipated to be roughly $4.3 billion and $3.0 billion, respectively. Full-year working bills are anticipated to develop within the mid- to upper-40% vary.
- GAAP and non-GAAP different earnings and expense are anticipated to be an earnings of roughly $350 million, excluding positive aspects and losses from non-affiliated investments and publicly-held fairness securities.
- GAAP and non-GAAP tax charges are anticipated to be 17%, plus or minus 1%, excluding any discrete objects.
Highlights
NVIDIA achieved progress since its earlier earnings announcement in these areas:
Knowledge Heart
- Second-quarter income was a report $26.3 billion, up 16% from the earlier quarter and up 154% from a yr in the past.
- Introduced that the mixture of NVIDIA H200 Tensor Core and NVIDIA Blackwell structure B200 Tensor Core processors swept the most recent industry-standard MLPerf benchmark outcomes for inference.
- Revealed that H200 GPU-powered techniques at the moment are obtainable on CoreWeave, the primary cloud service supplier to announce basic availability.
- Unveiled an array of Blackwell techniques that includes NVIDIA Grace™ CPUs, networking and infrastructure from prime producers equivalent to GIGABYTE, QCT and Wiwynn.
- Reported broad adoption of the NVIDIA Spectrum-X™ Ethernet networking platform by cloud service suppliers, GPU cloud suppliers and enterprises, in addition to companions incorporating it into their choices.
- Launched NVIDIA NIM™ for broad availability to builders globally and introduced greater than 150 corporations are integrating microservices into their platforms to hurry generative AI utility improvement.
- Unveiled an inference service with Hugging Face powered by NIM microservices on NVIDIA DGX™ Cloud to allow builders to deploy standard giant language fashions.
- Launched an NVIDIA AI Foundry service and NIM inference microservices to speed up generative AI for the world’s enterprises with the Llama 3.1 assortment of fashions.
- Introduced Japan superior its sovereign AI capabilities with its ABCI 3.0 supercomputer, integrating H200 GPUs and NVIDIA Quantum-2 InfiniBand networking.
- Accelerated quantum computing efforts at nationwide supercomputing facilities world wide with the open-source NVIDIA CUDA-Q™ platform.
Gaming and AI PC
- Second-quarter Gaming income was $2.9 billion, up 9% from the earlier quarter and up 16% from a yr in the past.
- Introduced NVIDIA ACE, a collection of generative AI applied sciences that convey digital people to life, now contains NVIDIA Nemotron-4 4B, a small language mannequin for on-device inference, and is out there in early entry for RTX AI PCs.
- Launched Venture G-Help, a expertise preview demonstrating the facility of AI brokers to help avid gamers and creators in actual time.
- Introduced new NVIDIA GeForce RTX and DLSS titles, together with Indiana Jones and the Nice Circle, Dune: Awakening and Dragon Age: The Veilguard, bringing the overall variety of RTX video games and apps to over 600.
- Surpassed 2,000 video games on GeForce NOW, expanded the service into Japan and introduced launches of Black Fantasy: Wukong and Star Wars Outlaws.
Skilled Visualization
- Second-quarter income was $454 million, up 6% from the earlier quarter and up 20% from a yr in the past.
- Launched generative AI fashions and NIM microservices for OpenUSD to speed up workflows and the event of commercial digital twins and robotics.
- Introduced main Taiwanese electronics makers are creating extra autonomous factories with a brand new reference workflow that mixes NVIDIA Metropolis imaginative and prescient AI, NVIDIA Omniverse™ simulation and NVIDIA Isaac™ AI robotic improvement.
Automotive and Robotics
- Second-quarter Automotive income was $346 million, up 5% from the earlier quarter and up 37% from a yr in the past.
- Unveiled the world’s leaders in robotic improvement, together with BYD Electronics, Siemens and Teradyne Robotics, are adopting the Isaac robotics platform for R&D and manufacturing.
- Introduced Omniverse Cloud Sensor RTX™ microservices to allow bodily correct sensor simulation to hurry improvement of autonomous machines.
- Received the Autonomous Grand Problem on the Laptop Imaginative and prescient and Sample Recognition convention within the class of Finish-to-Finish Driving at Scale for advances in constructing bodily, generative AI functions for autonomous car improvement.
CFO Commentary
Commentary on the quarter by Colette Kress, NVIDIA’s govt vp and chief monetary officer, is out there at https://investor.nvidia.com.
Convention Name and Webcast Data
NVIDIA will conduct a convention name with analysts and buyers to debate its second quarter fiscal 2025 monetary outcomes and present monetary prospects right now at 2 p.m. Pacific time (5 p.m. Jap time). A reside webcast (listen-only mode) of the convention name might be accessible at NVIDIA’s investor relations web site, https://investor.nvidia.com. The webcast might be recorded and obtainable for replay till NVIDIA’s convention name to debate its monetary outcomes for its third quarter of fiscal 2025.
Non-GAAP Measures
To complement NVIDIA’s condensed consolidated monetary statements introduced in accordance with GAAP, the corporate makes use of non-GAAP measures of sure parts of monetary efficiency. These non-GAAP measures embody non-GAAP gross revenue, non-GAAP gross margin, non-GAAP working bills, non-GAAP earnings from operations, non-GAAP different earnings (expense), web, non-GAAP web earnings, non-GAAP web earnings, or earnings, per diluted share, and free money circulation. For NVIDIA’s buyers to be higher capable of examine its present outcomes with these of earlier durations, the corporate has proven a reconciliation of GAAP to non-GAAP monetary measures. These reconciliations regulate the associated GAAP monetary measures to exclude stock-based compensation expense, acquisition-related and different prices, different, positive aspects from non-affiliated investments and publicly-held fairness securities, web, curiosity expense associated to amortization of debt low cost, and the related tax affect of this stuff the place relevant. Free money circulation is calculated as GAAP web money supplied by working actions much less each purchases associated to property and gear and intangible belongings and principal funds on property and gear and intangible belongings. NVIDIA believes the presentation of its non-GAAP monetary measures enhances the person’s general understanding of the corporate’s historic monetary efficiency. The presentation of the corporate’s non-GAAP monetary measures will not be 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 completely different from non-GAAP measures utilized by different corporations.
| NVIDIA CORPORATION | ||||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF INCOME | ||||||||||||||||||
| (In hundreds of thousands, besides per share information) | ||||||||||||||||||
| (Unaudited) | ||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||
| July 28, | July 30, | July 28, | July 30, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||||
| Income | $ | 30,040 | $ | 13,507 | $ | 56,084 | $ | 20,699 | ||||||||||
| Price of income | 7,466 | 4,045 | 13,105 | 6,589 | ||||||||||||||
| Gross revenue | 22,574 | 9,462 | 42,979 | 14,110 | ||||||||||||||
| Working bills | ||||||||||||||||||
| Analysis and improvement | 3,090 | 2,040 | 5,810 | 3,916 | ||||||||||||||
| Gross sales, basic and administrative | 842 | 622 | 1,618 | 1,253 | ||||||||||||||
| Complete working bills | 3,932 | 2,662 | 7,428 | 5,169 | ||||||||||||||
| Working Earnings | 18,642 | 6,800 | 35,551 | 8,941 | ||||||||||||||
| Curiosity earnings | 444 | 187 | 803 | 338 | ||||||||||||||
| Curiosity expense | (61 | ) | (65 | ) | (125 | ) | (131 | ) | ||||||||||
| Different, web | 189 | 59 | 264 | 42 | ||||||||||||||
| Different earnings (expense), web | 572 | 181 | 942 | 249 | ||||||||||||||
| Earnings earlier than earnings tax | 19,214 | 6,981 | 36,493 | 9,190 | ||||||||||||||
| Earnings tax expense | 2,615 | 793 | 5,013 | 958 | ||||||||||||||
| Web earnings | $ | 16,599 | $ | 6,188 | $ | 31,480 | $ | 8,232 | ||||||||||
| Web earnings per share: | ||||||||||||||||||
| Primary | $ | 0.68 | $ | 0.25 | $ | 1.28 | $ | 0.33 | ||||||||||
| Diluted | $ | 0.67 | $ | 0.25 | $ | 1.27 | $ | 0.33 | ||||||||||
| Weighted common shares utilized in per share computation: | ||||||||||||||||||
| Primary | 24,578 | 24,729 | 24,599 | 24,716 | ||||||||||||||
| Diluted | 24,848 | 24,994 | 24,869 | 24,948 | ||||||||||||||
| NVIDIA CORPORATION | |||||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||||
| (In hundreds of thousands) | |||||||||
| (Unaudited) | |||||||||
| July 28, | January 28, | ||||||||
| 2024 | 2024 | ||||||||
| ASSETS | |||||||||
| Present belongings: | |||||||||
| Money, money equivalents and marketable securities | $ | 34,800 | $ | 25,984 | |||||
| Accounts receivable, web | 14,132 | 9,999 | |||||||
| Inventories | 6,675 | 5,282 | |||||||
| Pay as you go bills and different present belongings | 4,026 | 3,080 | |||||||
| Complete present belongings | 59,633 | 44,345 | |||||||
| Property and gear, web | 4,885 | 3,914 | |||||||
| Working lease belongings | 1,556 | 1,346 | |||||||
| Goodwill | 4,622 | 4,430 | |||||||
| Intangible belongings, web | 952 | 1,112 | |||||||
| Deferred earnings tax belongings | 9,578 | 6,081 | |||||||
| Different belongings | 4,001 | 4,500 | |||||||
| Complete belongings | $ | 85,227 | $ | 65,728 | |||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||||
| Present liabilities: | |||||||||
| Accounts payable | $ | 3,680 | $ | 2,699 | |||||
| Accrued and different present liabilities | 10,289 | 6,682 | |||||||
| Quick-term debt | – | 1,250 | |||||||
| Complete present liabilities | 13,969 | 10,631 | |||||||
| Lengthy-term debt | 8,461 | 8,459 | |||||||
| Lengthy-term working lease liabilities | 1,304 | 1,119 | |||||||
| Different long-term liabilities | 3,336 | 2,541 | |||||||
| Complete liabilities | 27,070 | 22,750 | |||||||
| Shareholders’ fairness | 58,157 | 42,978 | |||||||
| Complete liabilities and shareholders’ fairness | $ | 85,227 | $ | 65,728 | |||||
| NVIDIA CORPORATION | ||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||||||||||
| (In hundreds of thousands) | ||||||||||||||||
| (Unaudited) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| July 28, | July 30, | July 28, | July 30, | |||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Money flows from working actions: | ||||||||||||||||
| Web earnings | $ | 16,599 | $ | 6,188 | $ | 31,480 | $ | 8,232 | ||||||||
| Changes to reconcile web earnings to web money supplied by working actions: | ||||||||||||||||
| Inventory-based compensation expense | 1,154 | 842 | 2,164 | 1,576 | ||||||||||||
| Depreciation and amortization | 433 | 365 | 843 | 749 | ||||||||||||
| Features on investments in non-affiliated entities and publicly-held fairness securities, web | (193 | ) | (60 | ) | (264 | ) | (45 | ) | ||||||||
| Deferred earnings taxes | (1,699 | ) | (746 | ) | (3,276 | ) | (1,881 | ) | ||||||||
| Different | (144 | ) | (69 | ) | (288 | ) | (102 | ) | ||||||||
| Modifications in working belongings and liabilities, web of acquisitions: | ||||||||||||||||
| Accounts receivable | (1,767 | ) | (2,986 | ) | (4,133 | ) | (3,239 | ) | ||||||||
| Inventories | (803 | ) | 296 | (1,380 | ) | 861 | ||||||||||
| Pay as you go bills and different belongings | 714 | (376 | ) | (12 | ) | (592 | ) | |||||||||
| Accounts payable | 823 | 777 | 801 | 789 | ||||||||||||
| Accrued liabilities and different present liabilities | (888 | ) | 1,986 | 3,314 | 2,675 | |||||||||||
| Different long-term liabilities | 260 | 131 | 584 | 236 | ||||||||||||
| Web money supplied by working actions | 14,489 | 6,348 | 29,833 | 9,259 | ||||||||||||
| Money flows from investing actions: | ||||||||||||||||
| Proceeds from maturities of marketable securities | 4,094 | 2,598 | 8,098 | 5,111 | ||||||||||||
| Proceeds from gross sales of marketable securities | 15 | – | 164 | – | ||||||||||||
| Purchases of marketable securities | (5,744 | ) | (2,542 | ) | (15,047 | ) | (5,343 | ) | ||||||||
| Buy associated to property and gear and intangible belongings | (977 | ) | (289 | ) | (1,346 | ) | (537 | ) | ||||||||
| Acquisitions, web of money acquired | (279 | ) | – | (317 | ) | (83 | ) | |||||||||
| Purchases of investments in non-affiliated entities | (344 | ) | (235 | ) | (534 | ) | (456 | ) | ||||||||
| Proceeds from gross sales of investments in non-affiliated entities | 50 | – | 105 | – | ||||||||||||
| Different | – | 21 | – | 21 | ||||||||||||
| Web money utilized in investing actions | (3,185 | ) | (447 | ) | (8,877 | ) | (1,287 | ) | ||||||||
| Money flows from financing actions: | ||||||||||||||||
| Proceeds associated to worker inventory plans | – | 1 | 285 | 247 | ||||||||||||
| Funds associated to repurchases of frequent inventory | (7,158 | ) | (3,067 | ) | (14,898 | ) | (3,067 | ) | ||||||||
| Compensation of debt | (1,250 | ) | (1,250 | ) | (1,250 | ) | (1,250 | ) | ||||||||
| Funds associated to tax on restricted inventory items | (1,637 | ) | (672 | ) | (3,389 | ) | (1,179 | ) | ||||||||
| Dividends paid | (246 | ) | (99 | ) | (344 | ) | (199 | ) | ||||||||
| Principal funds on property and gear and intangible belongings | (29 | ) | (11 | ) | (69 | ) | (31 | ) | ||||||||
| Web money utilized in financing actions | (10,320 | ) | (5,098 | ) | (19,665 | ) | (5,479 | ) | ||||||||
| Change in money, money equivalents, and restricted money | 984 | 803 | 1,291 | 2,493 | ||||||||||||
| Money, money equivalents, and restricted money at starting of interval | 7,587 | 5,079 | 7,280 | 3,389 | ||||||||||||
| Money, money equivalents, and restricted money at finish of interval | $ | 8,571 | $ | 5,882 | $ | 8,571 | $ | 5,882 | ||||||||
| Reconciliation of money, money equivalents, and restricted money to the Condensed Consolidated Stability Sheet: | ||||||||||||||||
| Money and money equivalents | $ | 8,563 | $ | 5,783 | $ | 8,563 | $ | 5,783 | ||||||||
| Restricted money, included in Pay as you go bills and different present belongings | 8 | 99 | 8 | 99 | ||||||||||||
| Complete money, money equivalents, and restricted money | $ | 8,571 | $ | 5,882 | $ | 8,571 | $ | 5,882 | ||||||||
| Supplemental disclosures of money circulation info: | ||||||||||||||||
| Money paid for earnings taxes, web | $ | 7,208 | $ | 227 | $ | 7,449 | $ | 328 | ||||||||
| NVIDIA CORPORATION | ||||||||||||||||||||||
| RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES | ||||||||||||||||||||||
| (In hundreds of thousands, besides per share information) | ||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||
| July 28, | April 28, | July 30, | July 28, | July 30, | ||||||||||||||||||
| 2024 | 2024 | 2023 | 2024 | 2023 | ||||||||||||||||||
| GAAP gross revenue | $ | 22,574 | $ | 20,406 | $ | 9,462 | $ | 42,979 | $ | 14,110 | ||||||||||||
| GAAP gross margin | 75.1 | % | 78.4 | % | 70.1 | % | 76.6 | % | 68.2 | % | ||||||||||||
| Acquisition-related and different prices (A) | 118 | 119 | 119 | 238 | 239 | |||||||||||||||||
| Inventory-based compensation expense (B) | 40 | 36 | 31 | 75 | 58 | |||||||||||||||||
| Different (C) | (3 | ) | (1 | ) | 2 | (4 | ) | 10 | ||||||||||||||
| Non-GAAP gross revenue | $ | 22,729 | $ | 20,560 | $ | 9,614 | $ | 43,288 | $ | 14,417 | ||||||||||||
| Non-GAAP gross margin | 75.7 | % | 78.9 | % | 71.2 | % | 77.2 | % | 69.7 | % | ||||||||||||
| GAAP working bills | $ | 3,932 | $ | 3,497 | $ | 2,662 | $ | 7,428 | $ | 5,169 | ||||||||||||
| Inventory-based compensation expense (B) | (1,114 | ) | (975 | ) | (811 | ) | (2,089 | ) | (1,518 | ) | ||||||||||||
| Acquisition-related and different prices (A) | (26 | ) | (21 | ) | (18 | ) | (48 | ) | (72 | ) | ||||||||||||
| Different (C) | – | – | 5 | – | 10 | |||||||||||||||||
| Non-GAAP working bills | $ | 2,792 | $ | 2,501 | $ | 1,838 | $ | 5,291 | $ | 3,589 | ||||||||||||
| GAAP working earnings | $ | 18,642 | $ | 16,909 | $ | 6,800 | $ | 35,551 | $ | 8,941 | ||||||||||||
| Complete affect of non-GAAP changes to working earnings | 1,295 | 1,150 | 976 | 2,446 | 1,887 | |||||||||||||||||
| Non-GAAP working earnings | $ | 19,937 | $ | 18,059 | $ | 7,776 | $ | 37,997 | $ | 10,828 | ||||||||||||
| GAAP different earnings (expense), web | $ | 572 | $ | 370 | $ | 181 | $ | 942 | $ | 249 | ||||||||||||
| Features from non-affiliated investments and publicly-held fairness securities, web | (193 | ) | (69 | ) | (62 | ) | (264 | ) | (46 | ) | ||||||||||||
| Curiosity expense associated to amortization of debt low cost | 1 | 1 | 1 | 2 | 2 | |||||||||||||||||
| Non-GAAP different earnings (expense), web | $ | 380 | $ | 302 | $ | 120 | $ | 680 | $ | 205 | ||||||||||||
| GAAP web earnings | $ | 16,599 | $ | 14,881 | $ | 6,188 | $ | 31,480 | $ | 8,232 | ||||||||||||
| Complete pre-tax affect of non-GAAP changes | 1,103 | 1,082 | 915 | 2,184 | 1,843 | |||||||||||||||||
| Earnings tax affect of non-GAAP changes (D) | (750 | ) | (725 | ) | (363 | ) | (1,475 | ) | (622 | ) | ||||||||||||
| Non-GAAP web earnings | $ | 16,952 | $ | 15,238 | $ | 6,740 | $ | 32,189 | $ | 9,453 | ||||||||||||
| Diluted web earnings per share | ||||||||||||||||||||||
| GAAP | $ | 0.67 | $ | 0.60 | $ | 0.25 | $ | 1.27 | $ | 0.33 | ||||||||||||
| Non-GAAP | $ | 0.68 | $ | 0.61 | $ | 0.27 | $ | 1.29 | $ | 0.38 | ||||||||||||
| Weighted common shares utilized in diluted web earnings per share computation | 24,848 | 24,890 | 24,994 | 24,869 | 24,948 | |||||||||||||||||
| GAAP web money supplied by working actions | $ | 14,489 | $ | 15,345 | $ | 6,348 | $ | 29,833 | $ | 9,259 | ||||||||||||
| Purchases associated to property and gear and intangible belongings | (977 | ) | (369 | ) | (289 | ) | (1,346 | ) | (537 | ) | ||||||||||||
| Principal funds on property and gear and intangible belongings | (29 | ) | (40 | ) | (11 | ) | (69 | ) | (31 | ) | ||||||||||||
| Free money circulation | $ | 13,483 | $ | 14,936 | $ | 6,048 | $ | 28,418 | $ | 8,691 | ||||||||||||
| (A) Acquisition-related and different prices are comprised of amortization of intangible belongings, transaction prices, and sure compensation expenses and are included within the following line objects: | ||||||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||
| July 28, | April 28, | July 30, | July 28, | July 30, | ||||||||||||||||||
| 2024 | 2024 | 2023 | 2024 | 2023 | ||||||||||||||||||
| Price of income | $ | 118 | $ | 119 | $ | 119 | $ | 238 | $ | 239 | ||||||||||||
| Analysis and improvement | $ | 17 | $ | 12 | $ | 12 | $ | 30 | $ | 24 | ||||||||||||
| Gross sales, basic and administrative | $ | 9 | $ | 8 | $ | 6 | $ | 18 | $ | 48 | ||||||||||||
| (B) Inventory-based compensation consists of the next: | ||||||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||
| July 28, | April 28, | July 30, | July 28, | July 30, | ||||||||||||||||||
| 2024 | 2024 | 2023 | 2024 | 2023 | ||||||||||||||||||
| Price of income | $ | 40 | $ | 36 | $ | 31 | $ | 75 | $ | 58 | ||||||||||||
| Analysis and improvement | $ | 832 | $ | 727 | $ | 600 | $ | 1,559 | $ | 1,124 | ||||||||||||
| Gross sales, basic and administrative | $ | 282 | $ | 248 | $ | 211 | $ | 530 | $ | 394 | ||||||||||||
| (C) Different consists of IP-related prices and belongings held on the market associated changes. | ||||||||||||||||||||||
| (D) Earnings tax affect of non-GAAP changes, together with the popularity of extra tax advantages or deficiencies associated to stock-based compensation beneath GAAP accounting commonplace (ASU 2016-09). | ||||||||||||||||||||||
| NVIDIA CORPORATION | ||||||
| RECONCILIATION OF GAAP TO NON-GAAP OUTLOOK | ||||||
| Q3 FY2025 Outlook |
||||||
| ($ in hundreds of thousands) | ||||||
| GAAP gross margin | 74.4 | % | ||||
| Influence of stock-based compensation expense, acquisition-related prices, and different prices | 0.6 | % | ||||
| Non-GAAP gross margin | 75.0 | % | ||||
| GAAP working bills | $ | 4,250 | ||||
| Inventory-based compensation expense, acquisition-related prices, and different prices | (1,250 | ) | ||||
| Non-GAAP working bills | $ | 3,000 | ||||