NVIDIA CORPORATION RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, except per share data) (Unaudited) Three Months Ended Twelve Months Ended January 26, October 27, January 28, January 26, January 28, 2025 2024 2024 2025 2024 GAAP cost of revenue $ 10,608 $ 8,926 $ 5,312 $ 32,639 $ 16,621 GAAP gross profit $ 28,723 $ 26,156 $ 16,791 $ 97,858 $ 44,301 GAAP gross margin 73.0 % 74.6 % 76.0 % 75.0 % 72.7 % Acquisition-related and other costs (A) 118 116 119 472 477 Stock-based compensation expense (B) 53 50 45 178 141 Other (C) — — 4 (3) 40 Non-GAAP cost of revenue $ 10,437 $ 8,759 $ 5,144 $ 31,992 $ 15,963 Non-GAAP gross profit $ 28,894 $ 26,322 $ 16,959 $ 98,505 $ 44,959 Non-GAAP gross margin 73.5 % 75.0 % 76.7 % 75.5 % 73.8 % GAAP operating expenses $ 4,689 $ 4,287 $ 3,176 $ 16,405 $ 11,329 Stock-based compensation expense (B) (1,268) (1,202) (948) (4,559) (3,408) Acquisition-related and other costs (A) (43) (39) (18) (130) (106) Other (C) — — — — 10 Non-GAAP operating expenses $ 3,378 $ 3,046 $ 2,210 $ 11,716 $ 7,825 GAAP operating income $ 24,034 $ 21,869 $ 13,615 $ 81,453 $ 32,972 Total impact of non-GAAP adjustments to operating income 1,482 1,407 1,134 5,336 4,162 Non-GAAP operating income $ 25,516 $ 23,276 $ 14,749 $ 86,789 $ 37,134 GAAP other income (expense), net $ 1,183 $ 447 $ 491 $ 2,573 $ 846 Gains from non-marketable equity securities and publicly-held equity securities, net (727) (37) (260) (1,030) (238) Interest expense related to amortization of debt discount 1 1 1 4 4 Non-GAAP other income (expense), net $ 457 $ 411 $ 232 $ 1,547 $ 612 GAAP net income $ 22,091 $ 19,309 $ 12,285 $ 72,880 $ 29,760 Total pre-tax impact of non-GAAP adjustments 756 1,371 875 4,310 3,928 Income tax impact of non-GAAP adjustments (D) (781) (670) (321) (2,925) (1,376) Non-GAAP net income $ 22,066 $ 20,010 $ 12,839 $ 74,265 $ 32,312 Three Months Ended Twelve Months Ended January 26, October 27, January 28, January 26, January 28, 2025 2024 2024 2025 2024 Diluted net income per share (E) GAAP $ 0.89 $ 0.78 $ 0.49 $ 2.94 $ 1.19 Non-GAAP $ 0.89 $ 0.81 $ 0.52 $ 2.99 $ 1.30 Weighted average shares used in diluted net income per share computation (E) 24,706 24,774 24,900 24,804 24,936 GAAP net cash provided by operating activities $ 16,628 $ 17,629 $ 11,499 $ 64,089 $ 28,090 Purchases related to property and equipment and intangible assets (1,077) (813) (253) (3,236) (1,069) Principal payments on property and equipment and intangible assets (32) (29) (29) (129) (74) Free cash flow $ 15,519 $ 16,787 $ 11,217 $ 60,724 $ 26,947 (A) Acquisition-related and other costs are comprised of amortization of intangible assets, transaction costs, and certain compensation charges and are included in the following line items: Three Months Ended Twelve Months Ended January 26, October 27, January 28, January 26, January 28, 2025 2024 2024 2025 2024 Cost of revenue $ 118 $ 116 $ 119 $ 472 $ 477 Research and development $ 27 $ 23 $ 12 $ 79 $ 49 Sales, general and administrative $ 16 $ 16 $ 6 $ 51 $ 57 (B) Stock-based compensation consists of the following: Three Months Ended Twelve Months Ended January 26, October 27, January 28, January 26, January 28, 2025 2024 2024 2025 2024 Cost of revenue $ 53 $ 50 $ 45 $ 178 $ 141 Research and development $ 955 $ 910 $ 706 $ 3,423 $ 2,532 Sales, general and administrative $ 313 $ 292 $ 242 $ 1,136 $ 876 (C) Other consists of IP-related costs and assets held for sale related adjustments (D) Income tax impact of non-GAAP adjustments, including the recognition of excess tax benefits or deficiencies related to stock-based compensation under GAAP accounting standard (E) Reflects a ten-for-one stock split on June 7, 2024 NVIDIA CORPORATION RECONCILIATION OF GAAP TO NON-GAAP OUTLOOK Q1 FY2026 Outlook ($ in millions) GAAP gross margin 70.6 % Impact of stock-based compensation expense, acquisition-related costs, and other costs 0.4 % Non-GAAP gross margin 71.0 % GAAP operating expenses $ 5,150 Stock-based compensation expense, acquisition-related costs, and other costs (1,550) Non-GAAP operating expenses $ 3,600

the item shown at left

other guidance in this release

Text is the filed exhibit, verbatim.