NVDA · 10-Q · 2026Q2

NVIDIA CORP

Filed 2026-05-20 · Technology · View original filing on EDGAR

Ranked Events

• Marketable Securities ValuationImportance 90 · Surprise 100
  Total other income, net for the quarter was driven primarily by realized or unrealized gains and losses from investments in non-marketable and publicly-held equity securities, producing total other income, net of $16.4…
• China Shipments ChangeImportance 90 · Surprise 100
  No shipments of Data Center Hopper products to China occurred in the quarter, compared with $4.6 billion of Hopper shipments to China in the first quarter of fiscal year 2026. The absence of Hopper shipments to China…
• Geographic Revenue ShiftImportance 90 · Surprise 100
  NVIDIA reported that no shipments of Data Center Hopper products to China occurred during the quarter, versus $4.6 billion of such shipments in the first quarter of fiscal 2026. The absence of Hopper shipments to China…
• Gross Margin DriversImportance 90 · Surprise 100
  Gross margin increased to 74.9% in the first quarter of fiscal 2027 from 60.5% a year earlier, primarily reflecting the non‑recurrence of a prior $4.5 billion charge related to H20 excess inventory and purchase…
• Market Demand TrendsImportance 88 · Surprise 82
  Revenue was $81.6 billion, driven primarily by Data Center demand where Blackwell remained the majority of system shipments. Data Center revenue was $75.2 billion, up 92% year-over-year and up 21% sequentially, with…
• Reportable Segment PerformanceImportance 88 · Surprise 82
  Compute & Networking revenue was $74,550 million in Q1 FY2027, up $34,961 million year-over-year, driven by Data Center product growth and the ramp of Blackwell systems. Graphics revenue was $7,065 million in Q1…
• Revenue Performance and MixImportance 88 · Surprise 82
  Total revenue was $81.6 billion for the three months ended Apr 26, 2026, up 85% year-over-year and up 20% sequentially. Data Center revenue was $75.2 billion, up 92% year-over-year and up 21% sequentially, driven by…
• Operating Expense TrendsImportance 83 · Surprise 82
  Total operating expenses were $7,621 million in Q1 FY2027, up $2,591 million (52%) year-over-year and up 12% sequentially. Research and development expense rose to $6,321 million, an increase driven by a 112% rise in…
• Operating Cash Flow TrendsImportance 81 · Surprise 64
  Net cash provided by operating activities was $50,344 million in Q1 FY2027 versus $27,414 million in Q1 FY2026, an increase driven by higher revenue. Net cash used in investing activities was $(26,429) million in Q1…
• H20 Inventory ChargeImportance 76 · Surprise 82
  Management attributes a large portion of the year-over-year gross margin improvement to the absence in FY2027 of the prior year's $4.5 billion charge associated with H20 excess inventory and purchase obligations.…
• Capital Return ProgramImportance 71 · Surprise 60
  In Q1 FY2027 NVIDIA repurchased 108 million shares for $20.2 billion and, as of April 26, 2026, had authority to repurchase up to $38.5 billion subject to specifications. On May 18, 2026, the Board approved an…
• Income Tax Rate ChangesImportance 69 · Surprise 64
  Income tax expense was $11.6 billion in Q1 FY2027 versus $3.1 billion in Q1 FY2026, reflecting higher pretax income. Income tax as a percentage of income before tax rose to 16.6% in Q1 FY2027 from 14.3% in Q1 FY2026.…
• Revenue Concentration RiskImportance 66 · Surprise 24
  NVIDIA's revenue is concentrated among a limited number of direct customers: in Q1 FY2027 three direct customers represented 21%, 17% and 16% of total revenue, primarily within the Compute & Networking segment. The…
• Other Income (Investment Gains)Importance 65 · Surprise 60
  Total other income, net was $16,367 million in Q1 FY2027, driven predominantly by realized and unrealized gains on investments. NVIDIA reported unrealized gains on publicly‑held equity securities of $13.4 billion and…
• AI Infrastructure InvestmentImportance 64 · Surprise 42
  In Q1 FY2027 NVIDIA invested $18.6 billion in private companies and infrastructure funds, including investments in AI model makers that may indirectly purchase or use NVIDIA products in the cloud. The company also made…
• Unrecognized Tax LiabilitiesImportance 58 · Surprise 42
  NVIDIA reported unrecognized tax benefits of $4.5 billion, which include related interest and penalties of $439 million, recorded in non-current income tax payable as of April 26, 2026. The company states it cannot…
• Unrecognized Tax BenefitsImportance 58 · Surprise 42
  Unrecognized tax benefits totaled $4.5 billion as of April 26, 2026, which includes related interest and penalties of $439 million, and were recorded in non-current income tax payable. NVIDIA stated it is unable to…
• Liquidity and Cash PositionImportance 49 · Surprise 6
  As of April 26, 2026 NVIDIA held $50.3 billion in cash, cash equivalents and marketable debt securities and $30.2 billion of marketable equity securities. The company reported increased operating cash flows in the…
• Export Controls / Regulatory RiskImportance 44 · Surprise 60
  Beginning in February 2026 the U.S. government granted licenses permitting NVIDIA to ship limited quantities of H200 products to specified China-based customers, but NVIDIA has not recognized any revenue under that…
• Product Launch and TransitionImportance 40 · Surprise 42
  NVIDIA expects its Rubin platform to start shipping in the second half of fiscal year 2027, while Blackwell architectures continue to account for the majority of system shipments. Management highlights the complexity…

Revenue by Product (in millions)

Revenue by Geography (in millions)