Nvidia Corporation · NASDAQ:NVDA
Nvidia — Investor Day (March 2019)
68 slides from Nvidia's investor day presentation, Mar 19, 2019
Slide 1: Welcome
WELCOME Simona Jankowski, March 19, 2019
Slide 2: Safe Harbor
SAFE HARBOR Forward-Looking Statements Except for the historical information contained herein, certain matters in this presentation including, but not limited to, statements as to: our growth and growth drivers; our market opportunities, drivers and TAM; customer opportunities, projections and growt
Slide 3: Agenda
Strategy Jensen Huang Gaming Jeff Fisher Datacenter Jay Puri AGENDA Automotive Rob Csongor Financials Colette Kress Q&A Jensen & Colette Questions? Please email NVIDIAInvestorRelations@nvidia.com 2019
Slide 4: Strategy
STRATEGY Jensen Huang, March 19, 2019
Slide 5: Accelerated Computing — The Path Forward
ACCELERATED COMPUTING — THE PATH FORWARD PRogrammable Acceleration Domains Architecture 2019
Slide 6: RTX | Omniverse | 5G GFN Alliances
RTX | OMNIVERSE | 5G GFN ALLIANCES 2019
Slide 7: Data Science — The New HPC Challenge
DATA SCIENCE — THE NEW HPC CHALLENGE 1T PF COMPUTE REQUIREMENT SUPERCOMPUTER 1B PF 1M PF DATA SCIENCE 1K PF 1PF HYPERSCALE NVIDIA DGX-2 1TF Data Science Server AI Supercomputer Appliance 4x T4 | 260 TF FP16 | 64GB GDDR6 16x V100 | 2 PF | 512GB HBM2 1K 1M 1B MLNX or BRCM EN 8x MLNX IB #CCU 2019
Slide 8: Data Science — The New HPC | CUDA-X Ecosystem
DATA SCIENCE — THE NEW HPC | CUDA-X ECOSYSTEM 2019
Slide 9: Jetson Nano | Isaac Constellation | Toyota
JETSON NANO | ISAAC CONSTELLATION | TOYOTA 2019
Slide 10: Gaming
/ NG INVESTOR DAY 201° @ANVIDIA. Jeff D. Fisher
Slide 11: Record Year in Gaming
RECORD YEAR RECORD YEAR IN GAMING $7B 13% $6.25B IN GAMING $6B $5B 36% RTX Launched — Biggest Leap in 15 Years $4B MAX-Q Laptops — Thinner, more powerful $3B Turing from $219 — Millions more Gamers $2B Crypto Hangover — Channel inventory on $1B track to clear in Q1 $0B FY17 FY18 FY19 2019
Slide 12: Gaming Fundamentals Strong
GAMING FUNDAMENTALS STRONG ESPORTS MOMENTUM MORE PC GAMERS AAA GAME PRODUCTION VALUE 5X in 5 YEARS 600M 400M 500M 5X 300M GPU Performance Required 400M 4X 300M 200M 3X 200M 2X 100M 100M 1X - 0M 2016 2018 2020 2016 2018 2020 2014 2015 2016 2017 2018 West China Emerging West China Emerging Source: New
Slide 13: GeForce Gaming GPU
GEFORCE GAMING GPU GAMING GPU REVENUE ~3X in 4 YEARS 5-YEAR CAGR $6B ASP 14% 18% $5B UNITS 14% $4B REV 29% $3B GAMING LAPTOP YoY $2B ASP +21% $1B UNITS +32% $0B FY15 FY16 FY17 FY18 FY19 REV +59% 2019
Slide 14: RTX 'On' to a Great Start
RTX ‘ON’ TO A GREAT START $299+ LAUNCH SELL THRU INSTALLED BASE READY MAJORITY BUYING UP 2% 45% $999 Titan 2080Ti $699 ‘80TI 2080 Desktop Revenue 90% Below 48% GTX1660Ti 50% $499 ‘80 90% 2070 Perf $399 ‘70 2060 $249 ‘60 Turing Pascal Turing Turing Pascal Older Source NVIDIA, First 8 Weeks of Pascal
Slide 15: Esports Gamers Want Fast Response
ESPORTS GAMERS WANT FAST RESPONSE ESPORTS REQUIRES FPS MORE FPS = MORE WINS ESPORTS PROS LEVEL UP 3X Other 2080/TI Win/Loss Ratio Increase 2060 9% 2X Image Quality 12% 42% ESPORTS 98% GEFORCE 1X 37% 120-240+ FPS 2070 0X Frames Per Second 0 60 120 180 240 300 Response Time Frames per Second Source: N
Slide 16: Esports Gamers Want Fast Response
ESPORTS GAMERS WANT FAST RESPONSE ESPORTS REQUIRES FPS TURING DELIVERS 120FPS+ IN ESPORTS 300 240 Frames per Second Image Quality 180 ESPORTS 120 120-240+ FPS 60 GTX GTX 1660Ti 1660Ti RTX 2060 RTX2060 RTX 2070 RTX2070 RTX 2080 RTX2080 RTX 2080Ti RTX2080Ti Frames Per Second Apex Fortnite Response Tim
Slide 17: AAA Gamers Want High Image Quality
AAA GAMERS WANT HIGH IMAGE QUALITY CINEMATIC GAMES REQUIRE IQ TURING DELIVERS 45 FPS + IN AAA 120.0 AAA 90.0 Frames per Second GAMES Image Quality 60.0 45-90 FPS ESPORTS 30.0 120-240+ FPS 0.0 RTX 2060 RTX 2070 RTX 2080 RTX 2080TI Frames Per Second Metro BFV Response Time Source NVIDIA: RT/DLSS 1440p
Slide 18: Ray Tracing — The Next Era Begins
RAY TRACING — THE NEXT ERA BEGINS NEXT-GEN GAMING REQUIRES GEFORCE RTX 80 70 60 Frames per Second 50 3X 40 30 20 10 0 Turing Turing Pascal +RT Core +DLSS 2019
Slide 19: Gaming Laptops: The Fastest-Growing Game Console
GAMING LAPTOPS: THE FASTEST-GROWING GAME CONSOLE GAMING LAPTOP — 10X IN 5 YEARS RTX — THE FASTEST LAPTOPS EVER $14B “ Behold: I carry a laptop more powerful than any of $12B your gaming computers, and it weighs less than five pounds! Grovel before me.” WW Gaming Laptop Sales ($B) $10B PC Mag $8B MAX
Slide 20: GeForce Now: A Billion-Gamer Opportunity
GEFORCE NOW: A BILLION-GAMER OPPORTUNITY A GeForce Gaming PC in the Cloud Fully Interactive Gaming and VR 1M Simple Game Launch from Desktop USERS ON WAITLIST 200M Publisher/Store Direct to Gamer 1B Gamer GeForce Opportunity 300K MONTHLY ACTIVE USERS 2019
Slide 21: GFN Alliance: Scaling Out Through Partnerships
GFN ALLIANCE: SCALING OUT THROUGH PARTNERSHIPS 6M Fixed Broadband 30M Mobile 4M Fixed Broadband 4M Cable Broadband 13M Mobile 2019
Slide 22: Summary
GeForce RTX Off to a Great Start: +45% over Pascal SUMMARY GeForce Laptops Fastest Growing Console: Turing + MAX-Q GeForce Now Reaches Next 1B PC Gamers 2019
Slide 23: Datacenter
DATACENTER Jay Puri, March 2019
Slide 24: A Record Year
A RECORD YEAR Fiscal 2019 Recap DATACENTER REVENUE HIGHLIGHTS $2,932M Developers up 50% 52% #1 in Deep Learning $1,932M Significant traction in inference 133% $830M FY17 FY18 FY19 Sources: NVIDIA, MLPerf, Top500.org 2019
Slide 25: The New HPC Market
THE NEW HPC MARKET 2018 $37B HPC SERVER MARKET COMMON WORKLOADS Scientific Computing ENTERPRISE Data Analytics SCIENTIFIC COMPUTING Artificial Intelligence RESEARCH FINANCIAL SERVICES ENERGY RETAIL HIGHER ED TELECOM AUTOMOTIVE MEDIA E-COMMERCE INTERNET COMPANIES CLOUD SERVICE PROVIDERS HYPERSCALE So
Slide 26: Datacenter Addressable Market
DATACENTER ADDRESSABLE MARKET Data Science Will Increase the Opportunity 2018 2023 $37B HPC SERVER MARKET HPC SERVER MARKET SCIENTIFIC ENTERPRISE COMPUTING ENTERPRISE SCIENTIFIC DL HPC COMPUTING + ML + DA + AI DL HPC NVIDIA TAM $50B NVIDIA TAM DL DL + ML HYPERSCALE HYPERSCALE Sources: IDC, Hyperion,
Slide 27: #1 Platform for Accelerating AI & HPC
#1 PLATFORM FOR ACCELERATING AI & HPC THRIVING DEVELOPMENT COMMUNITY BROAD APPLICATION COVERAGE AWARD-WINNING PERFORMANCE ALL MAJOR AI FRAMEWORKS 1.2M Developers Six AI Performance Records 13M CUDA Downloads 600+ HPC APPLICATIONS Gordon Bell Prize 2018 Sustained Performance Scalability & Time-to-Sol
Slide 28: NVIDIA Value
NVIDIA VALUE NEW! BASELINE HPC AI TRAINING AI INFERENCE MACHINE WORKLOAD (Amber, LAMMPS, (Caffe2, MXNet, (Image, Speech, CPU-Only NAMD, VASP) TensorFlow) Translation) LEARNING SPEED UP 1X 25X >100X 50X 10X SERVERS 5,000 200 <50 100 500 CAPEX $45M $9M $6M $2M $10M 3 YEAR OPEX $19.5M $2M $1M $0.5M $2.
Slide 29: Business Model and Products
BUSINESS MODEL AND PRODUCTS NGC SOFTWARE HUB OEM PARTNERS DIRECT & CHANNEL REFERENCE ARCHITECTURE PARTNERS CSP PARTNERS DGX-2 DGX STATION DGX-1 T4 V100 HGX-2 QUADRO 2019
Slide 30: Go-to-Market Strategy
GO-TO-MARKET STRATEGY MARKET CREATION ADOPTION ACCELERATION Vertical Industry Expertise Easy to deploy Targeted Domain Engagement Application Acceleration + Reference Architecture Direct Sales, Partners Deep Learning Institute Enablement NVIDIA ACCELERATED COMPUTING PLATFORM NGC Scientific Computing
Slide 31: Scientific Computing
SCIENTIFIC COMPUTING Growing the Addressable Market MARKET LEADERSHIP ACCELERATING APPS MORE PERFORMANCE SAME GPU MORE ACCELERATED APPS #1 WW SUMMIT ORNL 40X AMBER CHROMA #1 EUROPE CSCS GTC LAMMPS 25X #1 JAPAN ABCI MILC NAMD 600+ QUANTUM ESP 250 SPECFEM3D 2018 2019 2014 2019 TOP500 NVIDIA ACCELERATE
Slide 32: Hyperscale: Growth & Leadership in DL Training
HYPERSCALE Growth & Leadership in DL Training NETWORK COMPLEXITY IS DRIVING THE MARKET NVIDIA LEADS IN DL TRAINING Petaflops/Day (Training) cuDNN DOWNLOADS 1,000.00000 GPT2 100.00000 Neural Architecture Search 10.00000 GNMT Xception BERT #1 in First Industry DL 1.00000 WaveGlow Jasper Training Bench
Slide 33: Hyperscale: Expanding Footprint in Inference & Machine Learning
HYPERSCALE Expanding Footprint in Inference & Machine Learning NVIDIA INFERENCE USE CASES GROWING INFERENCE ADOPTION MACHINE LEARNING IN THE CLOUD Image NLP Maps Search Bing Bytedance iFlyTek SAGEMAKER Visual Search & Video Moderation Speech Intelligent Answers Recognition Speech Video CLOUD ML Link
Slide 34: Enterprise
ENTERPRISE High Performance Workloads Moving to Accelerated Computing DEEP LEARNING MACHINE LEARNING SCALE UP & SCALE OUT 100,000 ~3M Data Scientists Developers Trained SCIKIT PANDAS LEARN 3.5x DGX Revenue Growth YoY DASK ARROW RAPIDS / CUDA-X 1,000+ DGX Customers DGX-2 T4 Sources: KDnuggets, 451, I
Slide 35: NGC: Easy to Adopt
NGC: EASY TO ADOPT GPU-Optimized Software Hub | Simplifying DL, ML & HPC Workflows 50+ Containers Model Training Scripts NLP, Image Classification, Object DL, ML, HPC Detection & more Pre-trained Models NGC Industry Workflows LP, Classification, Object Detection Medical Imaging, Intelligent Video &
Slide 36: Easy to Buy, Easy to Deploy
EASY TO BUY, EASY TO DEPLOY Expanding Our Go-to-Market Partnerships REFERENCE ARCHITECTURE & PARTNERS DGX READY DATA CENTER NEW! T4 OEM VOLUME SERVER PARTNERS CSPs AS A CHANNEL FOR HPC, DL & ML + NGC READY CERTIFICATION + SUPPORT 2019
Slide 37: Summary
Accelerated Computing is the path forward. It’s all about the software acceleration stack. SUMMARY Data Science is the next big HPC opportunity. 2019
Slide 38: Automotive
AUTOMOTIVE Rob Csongor, March 2019
Slide 39: Automotive Growth
AUTOMOTIVE GROWTH REVENUE DRIVE PARTNERS NEW XAVIER AVs 700 $641M 100 95 Over 80+ partners now 600 15% 90 developing on DRIVE AGX 80 (Xavier) since launch last year Toyota Volvo 500 70 60 Axis Title 400 Millions 50 46 300 38 37 Daimler ZF Forklift 40 Robotaxi 200 30 22 20 20 17 100 10 0 0 Komatsu JD
Slide 40: World of Autonomous Vehicles Is Bigger
WORLD OF AUTONOMOUS VEHICLES IS BIGGER Every Vehicle Will Be Autonomous — Not Just Cars & Trucks Cars Trucks Mobility Services New Autonomous Vehicles (Buses, Taxis, Robotaxis, Shuttles) (Earthmovers, forklifts, delivery bots, tractors, firetrucks, & more) 1.5B vehicles in world today Projected Auto
Slide 41: 3 Growth Opportunities
3 GROWTH OPPORTUNITIES $30B by 2025 DRIVING TRAINING / DEV VALIDATION Cars Pedestrians Path Cars Pedestrians Path Lanes Signs Lights Lanes Signs Lights DRIVE AP2X L2+ AutoPilot, L3/L4, Robotaxis Millions of images per DNN Alternative solution to 100s of billions of 2 Computer Opportunities – AV & Co
Slide 42: Market Drivers
MARKET DRIVERS DRIVING TRAINING / DEV VALIDATION (October, 2018) “ Only the Model 3 AutoPilot “ How NVIDIA, Google and Others Will Make stayed within Autonomous Driving a Reality.” the lane on all Data Collection Labeling 18 trials.” “ Simulation is the key to accelerating the safety - IIHS L2 Perfo
Slide 43: Products / Strategies
PRODUCTS / STRATEGIES End-to-End, Open Platform for Carmakers to Make Autonomous Vehicles DRIVING TRAINING / DEV VALIDATION 370+ Partner Ecosystem GROWTH IN AUTOMOTIVE AUTOMOTIVE DGX Carmakers, truck makers, auto suppliers, mapping, COMPANIES USING DGX CUSTOMERS sensors, software, research Component
Slide 44: Progress — Key Announcements
PROGRESS — KEY ANNOUNCEMENTS End-to-End, Open Platform for Carmakers to Make Autonomous Vehicles 2019
Slide 45: Progress — Key Announcements
PROGRESS — KEY ANNOUNCEMENTS End-to-End, Open Platform for Carmakers to Make Autonomous Vehicles INNOVATION & MILESTONES PARTNERS/ECOSYSTEM CONSTELLATION SAFETY FORCE FIELD DRIVE AP2X TOYOTA MERCEDES-BENZ VOLVO ZF MYROUTE 50-MILE LOOP PEGASUS DAIMLER/BOSCH YAMAHA XPENG SINGULATO MERCEDES-BENZ SURROU
Slide 46: Auto Growth Takeaways
NVIDIA is the only company that is delivering an end-to-end, open platform for building autonomous vehicles DRIVING The world of AV is bigger than ever. Not just cars& trucks AUTO $25B opportunity by 2025 GROWTH NVIDIA’s Key Strategies — End to end system, open platform, AI, AP2X, Hyperion test cars
Slide 47: Financials
FINANCIALS Colette Kress, March 2019
Slide 48: Records
RECORDS REVENUE GROSS MARGIN OPERATING INCOME EPS $4.4B $6.64 150 BPS 61.7 % $11.7B 22% 60.2 % 21% $3.6B 35% $9.7B $4.92 FY 2018 FY 2019 FY 2018 FY 2019 FY 2018 FY 2019 FY 2018 FY 2019 Gross Margin, Operating Income and EPS are Non-GAAP measures. 2019
Slide 49: Market Platforms
MARKET PLATFORMS GAMING PRO VISUALIZATION 3-YEAR CAGR 30% 3-YEAR CAGR 15% $8.0 $1,200 13% 21% $6.0 $1,000 $800 $ Millions $ Billions $4.0 $600 $6.2 $1,130 $5.5 $400 $934 $2.0 $4.1 $750 $835 $2.8 $200 $0.0 $0 FY 2016 FY 2017 FY 2018 FY 2019 FY 2016 FY 2017 FY 2018 FY 2019 DATACENTER AUTO 3-YEAR CAGR
Slide 50: Gross Margin Expansion
GROSS MARGIN EXPANSION Value Added Platforms Expand Margins GM% Value Added Platforms IP All Other $8.0 61.7% 64% $7.0 60.2% 62% Gross Profit, $ Billions $6.0 $5.0 60% 59.2% $4.0 58% 56.8% $3.0 56% $2.0 54% $1.0 $0.0 52% FY 2016 FY 2017 FY 2018 FY 2019 Gross Margin is a Non-GAAP measure. 2019
Slide 51: Gross Profit by Platforms
GROSS PROFIT BY PLATFORMS Margin Range Blended GM% Company GM% GM% AUTO OTHER PRO VIS DATACENTER GPU GAMING 100% 61.7%* 61.7%* Gross Profit $7.2B Gross Profit is a Non-GAAP measure. Other primarily includes OEM, Switch and Shield. *Non GAAP Gross Profit includes the impact of ~$128M in charges for e
Slide 52: Operating Expenses
OPERATING EXPENSES YoY Investments Focused on Gaming, AI, and Auto. 3-Year CAGR 18% Operating Expenses Operating Expenses as a % of Revenue Operating Expenses Outlook 40% $3.0 34% 24% 23% 30% 27% $2.0 $ Billions $3.1 $2.8 20% $1.0 $1.9 $2.2 $1.7 $0.0 10% FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 Opera
Slide 53: Our Leveraged Model
OUR LEVERAGED MODEL ENGINEERS BY PLATFORM Graphics | AI | Auto ~25% FY 2013 Software ~35% FY 2019 GPU Architecture ~40% Software Hardware FY 2019 2019
Slide 54: Operating Margin Expansion
OPERATING MARGIN EXPANSION Operating Income Operating Margin $5.0 45% 38% 37% $4.0 35% 32% $3.0 $ Billions 22% 25% $2.0 $4.4 $3.6 15% $1.0 $2.2 $1.1 $0.0 5% FY 2016 FY 2017 FY 2018 FY 2019 Operating Income and Operating Margin are Non-GAAP measures. 2019
Slide 55: Cash Flow and Cash
CASH FLOW AND CASH Free Cash Flow Increased 185%+ $8.0 $7.4 $6.0 $ Billions $4.0 $3.1 $2.9 $2.0 $1.5 $1.1 FY 2016 FY 2017 FY 2018 FY 2019 FY 2019 $0.0 Free Cash Flow Total Cash Free Cash Flow is a Non-GAAP measure. Total Cash = Cash, Cash Equivalents + Marketable Securities. 2019
Slide 56: Capital Return
CAPITAL RETURN Since FY 2013: $7B+, 68% FCF Share Repurchase Dividend Intended Return $3.0 $2.3 $1.95 $2.0 $ Billions $1.25 $1.0 $1.0 $0.8 $.0 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 Free Cash Flow is a Non-GAAP measure. 2019
Slide 57: Uses of Cash
USES OF CASH FY 2019 FY 2020 OUTLOOK $8.0 $8.0 $7.0 $7.0 $6.0 $6.0 $6.9 $5.0 $5.0 $ Billions $ Billions $4.0 $4.0 $3.0 $3.0 $2.0 $2.0 $1.95 $3.1 $2.3 $2.8 $1.0 $1.0 $0.6 $0.6 $0.0 $0.0 OPEX CAPEX M&A CAPITAL OPEX CAPEX M&A CAPITAL RETURN RETURN OPEX is a Non-GAAP measure. FY20 Outlook for OPEX & CAP
Slide 58: Outlook Unchanged
OUTLOOK UNCHANGED IN $ MILLIONS Q1FY20 QoQ FY20 YoY REVENUE $2,200 Flat Flat to slightly down GM % 59.0% +300 bps OPERATING EXPENSES $755 Flat High single digit percent Gross Margin and Operating Expenses are Non-GAAP measures. FY20 Outlook does not account for Mellanox closing. 2019
Slide 59: NVIDIA | Mellanox Transaction Summary
NVIDIA | MELLANOX Transaction Summary $125 per share in cash TRANSACTION CONSIDERATION $6.9B in enterprise value Expected to be accretive to non-GAAP gross margin, non-GAAP EPS and free cash flow, immediately after close FINANCIAL IMPACT Intend to fund the acquisition through balance sheet cash No c
Slide 60: Q&A
Q&A 2019
Slide 61: Reconciliation of Non-GAAP to GAAP Financial Measures
RECONCILIATION OF NON-GAAP TO GAAP FINANCIAL MEASURES 2019
Slide 62: Reconciliation of Non-GAAP to GAAP Financial Measures
RECONCILIATION OF NON-GAAP TO GAAP FINANCIAL MEASURES GROSS MARGIN STOCK-BASED PRODUCT OTHER ($ IN MILLIONS & MARGIN NON-GAAP GAAP COMPENSATION (A) WARRANTY (B) (C) PERCENTAGE) $2,846 (15) (20) — $2,811 FY 2016 56.8% (0.3) (0.4) — 56.1% $4,088 (15) — (10) $4,063 FY 2017 59.2% (0.2) — (0.2) 58.8% $5,
Slide 63: Reconciliation of Non-GAAP to GAAP Financial Measures (Contd.)
RECONCILIATION OF NON-GAAP TO GAAP FINANCIAL MEASURES (CONTD.) OPERATING EXPENSES STOCK-BASED ACQUISITION-RELATED OTHER NON-GAAP GAAP ($ IN MILLIONS & % OF REVENUE) COMPENSATION (A) AND OTHER COSTS (B) (C) $1,721 190 22 131 $2,064 FY 2016 34% 4 — 3 41% $1,867 233 16 13 $2,129 FY 2017 27% 4 — — 31% $
Slide 64: Reconciliation of Non-GAAP to GAAP Financial Measures (Contd.)
RECONCILIATION OF NON-GAAP TO GAAP FINANCIAL MEASURES (CONTD.) OPERATING MARGIN STOCK-BASED PRODUCT ACQUISITION- OTHER ($ IN MILLIONS & NON-GAAP COMPENSATION WARRANTY RELATED AND GAAP MARGIN PERCENTAGE) (C) (A) (B) OTHER COSTS (C) $1,125 (205) (20) (22) (131) $747 FY 2016 22% (4) — — (3) 15% $2,221
Slide 65: Reconciliation of Non-GAAP to GAAP Financial Measures (Contd.)
RECONCILIATION OF NON-GAAP TO GAAP FINANCIAL MEASURES (CONTD.) ACQUISITION- TAX BENEFIT STOCK-BASED OTHER TAX IMPACT OF ($ IN MILLIONS, NON-GAAP RELATED ITEMS AND FROM INCOME GAAP COMPENSATION (A) (C) ADJUSTMENTS EXCEPT SHARES & EPS) OTHER COSTS (B) TAX REFORM FY 2018 Net income $3,085 (391) (13) (2
Slide 66: Reconciliation of Non-GAAP to GAAP Financial Measures (Contd.)
RECONCILIATION OF NON-GAAP TO GAAP FINANCIAL MEASURES (CONTD.) ($ IN MILLIONS) FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY2018 FY2019 GAAP net cash flow provided by $824 $835 $905 $1,175 $1,672 $3,502 $3,743 operating activities Purchase of property and equipment (183) (255) (122) (86) (176) (593) (6
Slide 67: Reconciliation of Non-GAAP to GAAP Financial Measures
RECONCILIATION OF NON-GAAP TO GAAP FINANCIAL MEASURES Q1FY20 FY2020 ($ IN MILLIONS) OUTLOOK OUTLOOK Non-GAAP Gross Margin 59.0% Impact of stock-based compensation expense (0.2%) GAAP Gross Margin 58.8% Non-GAAP Operating Expenses $755 $3,090 Stock-based compensation expense, acquisition-related cost
Slide 68: NVIDIA
@ANVIDIA ®