Slide 1: Investor Presentation Q1 FY27
Investor Presentation Q1 FY27 May 2026
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 Vera Rubin, and related trends and drivers; expectations with respect to suppl
Slide 3: Revenue
Revenue $ in billions Strong growth across a diverse end-customer base – $81.6B hyperscalers to model builders to AI Clouds, enterprise on- premise and sovereign customers Blackwell adopted and deployed by every major hyperscaler, every cloud provider, and every model builder $44.1B Agentic AI and r
Slide 4: Data Center
Data Center Revenue $ in billions Hyperscale AI Clouds, Industrial, and Enterprise (ACIE) $37.9B $37.4B $21.5B $17.6B Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Continued strong demand for our Blackwell architecture Data Center will include two sub-markets, Hyperscale and ACIE, which incorporates AI Clouds, In
Slide 5: Gross Margin
Gross Margin GAAP Non-GAAP 74.9% 75.0% 60.5% 60.8% Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Gross margin year-on-year increase driven by lower inventory provisions, primarily due to a $4.5B charge associated with H20 excess inventory in the prior year
Slide 6: Operating Expenses
Operating Expenses $ in billions GAAP Non-GAAP $7.6B $7.4B $5.0B $5.0B Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Investing to address the multitude of growth opportunities ahead
Slide 7: Earnings per Share
Earnings per Share GAAP Non-GAAP $2.39 $1.87 $0.78 $0.76 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Top-line growth and operating leverage drove accelerating EPS growth
Slide 8: Free Cash Flow and Capital Return
Free Cash Flow and Capital Return $ in billions Free Cash Flow Capital Return Dividends Share Repurchases $48.6B ~$20.0B ~$14.0B $26.1B Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Returned a record ~$20B to our shareholders, while executing strategic investments. Announced new $80B share repurchase authorizatio
Slide 9: GAAP P&L Financial Measures
GAAP P&L Financial Measures $ in billions, except EPS Q1 FY27 YoY % Q1 FY26 Revenue $81.6 85% $44.1 Gross Margin % 74.9% +14.4 pts 60.5% Operating Expenses $7.6 52% $5.0 Operating Income $53.5 147% $21.6 Net Income $58.3 211% $18.8 Diluted EPS $2.39 214% $0.76
Slide 10: Non-GAAP P&L Financial Measures
Non-GAAP P&L Financial Measures $ in billions, except EPS Q1 FY27 YoY % Q1 FY26 Revenue $81.6 85% $44.1 Gross Margin % 75.0% +14.2 pts 60.8% Operating Expenses $7.4 49% $5.0 Operating Income $53.8 147% $21.8 Net Income $45.5 139% $19.1 Diluted EPS $1.87 140% $0.78
Slide 11: Q2 FY27 Outlook – Non-GAAP
Q2 FY27 Outlook – Non-GAAP Q2 FY27 Revenue $91.0 billion* + / - 2% Gross Margin % 75.0% + / - 50 bps Operating Expenses $8.3 billion Approximately For the full year fiscal 2027, expect non-GAAP tax rates to be between 16.0% and 18.0%, excluding any discrete items and material changes to our tax envi
Slide 12: Reconciliation of Non-GAAP to GAAP Financial Measures
Reconciliation of Non-GAAP to GAAP Financial Measures
Slide 13: Reconciliation of Non-GAAP to GAAP Financial Measures
Reconciliation of Non-GAAP to GAAP Financial Measures Acquisition-Related Tax Impact of Q1 FY27 Non-GAAP Other (B) GAAP and Other Costs (A) Adjustments Gross margin ($ in million) $61,232 (47) (28) — $61,157 Gross margin % 75.0% (0.1) — — 74.9% Operating expense ($ in million) $7,449 172 — — $7,621
Slide 14: Reconciliation of Non-GAAP to GAAP Financial Measures
Reconciliation of Non-GAAP to GAAP Financial Measures Acquisition-Related Tax Impact of Q1 FY26 Non-GAAP Other (B) GAAP and Other Costs (A) Adjustments Gross margin ($ in million) $26,794 (123) (3) — $26,668 Gross margin % 60.8% (0.3) — — 60.5% Operating expense ($ in million) $4,993 37 — — $5,030 O
Slide 15: Reconciliation of Non-GAAP to GAAP Financial Measures (contd.)
Reconciliation of Non-GAAP to GAAP Financial Measures (contd.) ($ in Millions) Q2 FY27 Outlook Non-GAAP gross margin 75.0% Impact of acquisition-related costs and other costs (0.1%) GAAP gross margin 74.9% Non-GAAP operating expenses $8,300 Acquisition-related costs and other costs 200 GAAP operatin
Slide 16: Reconciliation of Non-GAAP to GAAP Financial Measures (contd.)
Reconciliation of Non-GAAP to GAAP Financial Measures (contd.) Purchases Related to Principal Payments on Property and Equipment Property and Equipment Net Cash Provided by ($ in Millions) Free Cash Flow and Intangible Assets and Intangible Assets Operating Activities Q1 FY2027 $48,554 (1,757) (33)
Slide 17: NVIDIA.
NVIDIA. |