Slide 1: Investor Presentation Q1 FY26
Investor Presentation Q1 FY26 June 2025
Slide 2: Forward-looking statements
Certain matters in this presentation including, but not limited to, statements as to: expectations with respect to growth, performance and benefits of NVIDIA’s products, services, and technologies, including Blackwell, and related trends and drivers; expectations with respect to supply and demand fo
Slide 3: Content
Content • Q1 FY26 Earnings Summary • Key Announcements This Quarter • Reconciliation of Non-GAAP to GAAP Financial Measures
Slide 4: Q1 FY26 Earnings Summary
Q1 FY26 Earnings Summary
Slide 5: Highlights
Highlights Strong quarter exceeding our outlook in a challenging operating environment • Total revenue up 69% Y/Y to $44.1B, above outlook of $43.0B +/- 2% • Data Center up 73% Y/Y to $39.1B • Gaming up 42% Y/Y to $3.8B Data Center revenue driven by the continued Blackwell ramp – fastest in our comp
Slide 6: Q1 FY26 Financial Summary
Q1 FY26 Financial Summary GAAP Non-GAAP 46,500 Revenue($M) Non-GAAP GM 100.0% $44,062 41,500 95.0% Q1 FY26* Y/Y Q/Q Q1 FY26* Y/Y Q/Q $39,331 36,500 $35,082 90.0% Revenue $44,062 +69% +12% $44,062 +69% +12% 31,500 $30,040 85.0% Gross Margin* 60.5% -17.9 pts -12.5 pts 61.0% -17.9 pts -12.5 pts $26,044
Slide 7: Data Center
Data Center Highlights 73% Y/Y and 10% Q/Q • Recognized $4.6B in H20 revenue; also recognized a $4.5 billion charge – write down of inventory and purchase obligations, less than $39,112 anticipated; unable to ship $2.5B in H20 due to export controls $35,580 • Blackwell nearly 70% of DC compute reven
Slide 8: Gaming
Gaming 42% Y/Y Highlights and 48% Q/Q • Strong adoption by gamers, creatives, and AI enthusiasts have made Blackwell our fastest ramp ever $3,763 • Against robust demand, we greatly improved our supply and $3,279 availability in Q1 and expect to continue these efforts in Q2 • With a 100M user instal
Slide 9: Professional Visualization
Professional Visualization Highlights 19% Y/Y and • Tariff-related uncertainty temporarily impacted Q1 shipments. flat Q/Q End demand for our AI workstations is strong, and we expect $511 $509 sequential revenue growth to resume in Q2 $486 $454 • New DGX Spark will be available in calendar Q3 and DG
Slide 10: Automotive
Automotive 72% Y/Y Highlights 1% Q/Q • Year-on-year growth was driven by the ramp in self-driving across a number of customers and robust end demand for $570 $567 NEVs • Now in production with our full stack solution for Mercedes- $449 Benz, starting with the new CLA, hitting roads in the next few m
Slide 11: Sources & Uses of Cash
Sources & Uses of Cash 79% Y/Y Highlights and 65% Q/Q • Y/Y increase reflects higher revenue and timing of cash $27,414 collections • Q/Q increase was driven by higher revenue, timing of cash collections, and lower cash taxes • Expect a substantial increase in cash taxes in Q2 related to $17,629 est
Slide 12: Q2 FY26 Outlook
Q2 FY26 Outlook $45.0 billion, plus or minus 2% Revenue Expect modest sequential growth across all our platforms Continued ramp of Blackwell to be partially offset by a decline in China revenue Outlook reflects a loss in H20 revenue of ~$8.0 billion 71.8% GAAP and 72.0% non-GAAP, plus or minus 50 ba
Slide 13: Key Announcements This Quarter
Key Announcements This Quarter
Slide 14: NVIDIA Blackwell Ultra Engineered for the Era of AI Reasoning
NVIDIA Blackwell Ultra Engineered for the Era of AI Reasoning • Built on the Blackwell architecture, Blackwell Ultra boosts training and test-time inference scaling for agentic and physical AI • Configurations include: • NVIDIA GB300 NVL72; a rack-scale system delivering 1.5x more AI performance vs.
Slide 15: Spectrum-X and Quantum-X Silicon Photonics Switches
NVIDIA’s Spectrum-X and Quantum-X Silicon Photonics Switches Scale AI Factories to Millions of GPUs • These switches fuse electronics and optics for unparalleled network Spectrum-X Photonics Quantum-X Photonics 2nd Half 2026 2nd Half 2025 performance • With 4x fewer lasers, they deliver 3.5x more po
Slide 16: NVIDIA Dynamo Open-Source Inference Platform
NVIDIA Dynamo Open-Source Inference Platform Drives Reasoning Inference Performance • Dynamo, an AI inference serving software, maximizes data center token revenue by coordinating reasoning inference across thousands Query KV $ of GPUs processing millions of queries that output hundreds of millions
Slide 17: Agentic AI Development with Open Reasoning Models and Platforms
NVIDIA Turbocharges Agentic AI NVIDIA AI Data Platform Development with Open Reasoning AI Models, Platforms, and Partnerships Compute RTX PRO 6000 Blackwell Server Edition NVIDIA BlueField Networking NVIDIA Spectrum-X • New open Llama Nemotron reasoning models accelerate agentic AI development for c
Slide 18: Blackwell RTX PRO for Workstations and Servers
NVIDIA Blackwell RTX PRO Comes to Workstations and Servers for Designers, Developers, Data Scientists and Creatives • We announced the NVIDIA RTX Pro Blackwell series - new desktop, laptop, and server GPUs, including the NVIDIA RTX PRO 6000 Blackwell Server Edition • They redefine professional workf
Slide 19: Foundation Models, Blueprints and Tools for Robotics
New NVIDIA Foundation Models, Blueprints, Tools, and Partnerships to Advance Robotics With AI Pre-training, Post-training, and Reasoning • We launched NVIDIA Cosmos World Foundation Models (WFMs) including Cosmos Reason, Transfer, and Predict models and accompanying physical AI data tools, designed
Slide 20: Humanoid Robot Platforms for Physical AI
NVIDIA Powers Humanoid Robot Industry with Cloud-to-Robot Computing Platforms for Physical AI • NVIDIA announced significant advancements in humanoid robot development, including the updated NVIDIA Isaac GR00T N1.5 foundation model for humanoid reasoning, the NVIDIA Isaac GR00T- Dreams blueprint for
Slide 21: AI-First DGX Personal Computing Systems
Global Computer Makers Join NVIDIA to Launch AI-First DGX Personal Computing Systems • Taiwan’s leading system manufacturers are set to build NVIDIA DGX Spark and DGX Station systems, enabling a global ecosystem of developers, data scientists and researchers to prototype, fine-tune and inference AI
Slide 22: NVLink Fusion for Semi-Custom AI Infrastructure
NVLink Fusion for Industry to Build Semi-Custom AI Infrastructure with NVIDIA Partner Ecosystem • We unveiled NVIDIA NVLink Fusion – new NVLink chiplet silicon that lets industries build semi-custom AI infrastructure connected to NVIDIA’s vast AI infrastructure ecosystem through NVLink, the world’s
Slide 23: NVIDIA, Foxconn, and Taiwan Build Taiwan AI Cloud Service
NVIDIA, Foxconn, and Taiwan Partner to Build Taiwan AI Cloud Service to Advance AI for Region’s Science and Industry Technology • NVIDIA and Foxconn Hon Hai Technology Group announced they are deepening their partnership and working with the Taiwan government to build an AI factory supercomputer tha
Slide 24: Blackwell Takes Pole Position in MLPerf Inference Results
NVIDIA Blackwell Takes Pole Position in Latest MLPerf Inference Results • Marked NVIDIA’s first MLPerf submission using the rack-scale NVIDIA GB200 NVL72 system designed for AI reasoning • NVIDIA Blackwell set new MLPerf inference records: • GB200 NVL72 system delivered up to 30x higher throughput o
Slide 25: Manufacturing American-Made AI Supercomputers in US
NVIDIA to Manufacture American- Made AI Supercomputers in US for First Time • NVIDIA is working with its manufacturing partners to design and build factories that, for the first time, will produce NVIDIA AI supercomputers entirely in the US • With partners, the company has commissioned more than a m
Slide 26: Reconciliation of Non-GAAP to GAAP Financial Measures
Reconciliation of Non-GAAP to GAAP Financial Measures
Slide 27: Reconciliation of Non-GAAP to GAAP Financial Measures
Reconciliation of Non-GAAP to GAAP Financial Measures Acquisition-Related Stock-Based Other Tax Impact of Non-GAAP and Other Costs Compensation GAAP (C) Adjustments (A) (B) Q1 FY26* $26,858 (123) (64) (3) — $26,668 Gross margin ($ in million) 61.0% (0.3) (0.2) — — 60.5% Operating income $23,275 (160
Slide 28: Reconciliation of Non-GAAP to GAAP Financial Measures (contd.)
Reconciliation of Non-GAAP to GAAP Financial Measures (contd.) Acquisition-Related and Stock-Based Gross Margin Non-GAAP Other Costs Compensation GAAP (A) (B) Q1 FY 2025 78.9% (0.4) (0.1) 78.4% Q2 FY 2025 75.7% (0.4) (0.2) 75.1% Q3 FY 2025 75.0% (0.3) (0.1) 74.6% Q4 FY 2025 73.5% (0.3) (0.2) 73.0% A
Slide 29: Reconciliation of Non-GAAP to GAAP Financial Measures (contd.)
Reconciliation of Non-GAAP to GAAP Financial Measures (contd.) ($ in Millions) Q2 FY26 Outlook Non-GAAP gross margin 72.0% Impact of stock-based compensation expense, acquisition-related costs, and other costs (0.2%) GAAP gross margin 71.8% Non-GAAP operating expenses $4,000 Stock-based compensation
Slide 30: NVIDIA
NVIDIA. |