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Guidance history, every release

Nvidia (NVDA) · 8 releases, Nov 20, 2024 to Aug 26, 2026 · rows are metrics, columns are releases

Raised · a change from the previous releaseSame · restated unchanged— · not stated in that releaseEvery value links to its sentence in the filing

Metric	Nov 20, 2024 FY25 Q3	Feb 26, 2025 FY25 Q4	May 28, 2025 FY26 Q1	Aug 27, 2025 FY26 Q2	Nov 19, 2025 FY26 Q3	Feb 25, 2026 FY26 Q4	May 20, 2026 FY27 Q1	Aug 26, 2026 FY27 Q2
For FY2027
Revenue	—	—	—	—	—	—	—	New“$108.0 billion, plus or minus 2%”
Revenue	—	—	—	—	—	—	New“$91.0 billion, plus or minus 2%”	—
Revenue	—	—	—	—	—	New“$78.0 billion, plus or minus 2%”	—	—
GAAP and non-GAAP gross margins	—	—	—	—	—	—	—	New“74.0%, plus or minus 50 basis points”
GAAP and non-GAAP gross margins	—	—	—	—	—	—	New“74.9% and 75.0%, respectively, plus or minus 50 basis points”	—
GAAP and non-GAAP gross margins	—	—	—	—	—	New“74.9% and 75.0%, respectively, plus or minus 50 basis points, inclusive of a 0.1% impact from stock-based compensation expense”	—	—
GAAP gross margin	—	—	—	—	—	—	New“74.9 %”	—
GAAP gross margin	—	—	—	—	—	New“74.9 %”	—	—
Non-GAAP gross margin	—	—	—	—	—	—	—	New“74.0 %”
Non-GAAP gross margin	—	—	—	—	—	—	New“75.0 %”	—
Non-GAAP gross margin	—	—	—	—	—	New“75.0 %”	—	—
GAAP and non-GAAP operating expenses	—	—	—	—	—	—	—	New“approximately $9.2 billion and $9.0 billion, respectively”
GAAP and non-GAAP operating expenses	—	—	—	—	—	—	New“approximately $8.5 billion and $8.3 billion, respectively”	—
GAAP and non-GAAP tax rates	—	—	—	—	—	New“between 17.0% and 19.0%”	Lowered“between 16.0% and 18.0%”	Reiterated“between 16.0% and 18.0%”
GAAP operating expenses	—	—	—	—	—	—	—	New“approximately $9.2 billion”
GAAP operating expenses	—	—	—	—	—	—	New“approximately $8.5 billion”	—
GAAP operating expenses	—	—	—	—	—	New“approximately $7.7 billion”	—	—
Non-GAAP operating expenses	—	—	—	—	—	—	—	New“$ 9.0”
Non-GAAP operating expenses	—	—	—	—	—	—	New“$ 8,300”	—
Non-GAAP operating expenses	—	—	—	—	—	New“$ 7,500”	—	—
Stock-based compensation expense (included in operating expenses outlook)	—	—	—	—	—	New“$1.9 billion”	—	—
For FY2026
H20 revenue loss impact on outlook	—	—	New“approximately $8.0 billion”	—	—	—	—	—
Revenue	—	—	—	—	New“$65.0 billion, plus or minus 2%”	—	—	—
Revenue	—	—	—	New“$54.0 billion, plus or minus 2%”	—	—	—	—
Revenue	—	—	New“$45.0 billion, plus or minus 2%”	—	—	—	—	—
Revenue	—	New“$43.0 billion, plus or minus 2%”	—	—	—	—	—	—
GAAP and non-GAAP gross margins	—	—	—	—	New“74.8% and 75.0%, respectively, plus or minus 50 basis points”	—	—	—
GAAP and non-GAAP gross margins	—	—	—	New“73.3% and 73.5%, respectively, plus or minus 50 basis points”	—	—	—	—
GAAP and non-GAAP gross margins	—	—	New“71.8% and 72.0%, respectively, plus or minus 50 basis points”	—	—	—	—	—
GAAP and non-GAAP gross margins	—	New“70.6% and 71.0%, respectively, plus or minus 50 basis points”	—	—	—	—	—	—
GAAP and non-GAAP gross margins variance	—	—	—	New“plus or minus 50 basis points”	—	—	—	—
GAAP gross margin	—	—	—	—	New“74.8 %”	—	—	—
GAAP gross margin	—	—	—	New“73.3%”	—	—	—	—
GAAP gross margin	—	—	New“71.8 %”	—	—	—	—	—
GAAP gross margin	—	New“70.6 %”	—	—	—	—	—	—
Gross margin (longer-term goal)	—	—	New“mid-70% range”	—	—	—	—	—
Gross margins	—	—	New“mid-70% range”	—	—	—	—	—
Non-GAAP gross margin	—	—	—	—	New“75.0 %”	—	—	—
Non-GAAP gross margin	—	—	—	New“73.5%”	—	—	—	—
Non-GAAP gross margin	—	—	New“72.0 %”	—	—	—	—	—
Non-GAAP gross margin	—	New“71.0 %”	—	—	—	—	—	—
Non-GAAP gross margin exit rate	—	—	—	New“mid-70% range”	—	—	—	—
GAAP and non-GAAP operating expenses	—	—	—	—	New“approximately $6.7 billion and $5.0 billion, respectively”	—	—	—
GAAP and non-GAAP operating expenses	—	—	—	New“approximately $5.9 billion and $4.2 billion, respectively”	—	—	—	—
GAAP and non-GAAP operating expenses	—	—	New“approximately $5.7 billion and $4.0 billion, respectively”	—	—	—	—	—
GAAP and non-GAAP operating expenses	—	New“approximately $5.2 billion and $3.6 billion, respectively”	—	—	—	—	—	—
GAAP and non-GAAP other income and expense	—	—	—	—	New“an income of approximately $500 million”	—	—	—
GAAP and non-GAAP other income and expense	—	—	—	New“an income of approximately $500 million”	—	—	—	—
GAAP and non-GAAP other income and expense	—	—	New“an income of approximately $450 million”	—	—	—	—	—
GAAP and non-GAAP other income and expense	—	New“an income of approximately $400 million”	—	—	—	—	—	—
GAAP and non-GAAP tax rates	—	—	—	—	New“17.0%, plus or minus 1%”	—	—	—
GAAP and non-GAAP tax rates	—	—	—	New“16.5%, plus or minus 1%”	—	—	—	—
GAAP and non-GAAP tax rates	—	—	New“16.5%, plus or minus 1%”	—	—	—	—	—
GAAP and non-GAAP tax rates	—	New“17.0%, plus or minus 1%”	—	—	—	—	—	—
GAAP operating expenses	—	—	—	—	New“approximately $6.7 billion”	—	—	—
GAAP operating expenses	—	—	—	New“approximately $5.9 billion”	—	—	—	—
GAAP operating expenses	—	—	New“approximately $5.7 billion”	—	—	—	—	—
GAAP operating expenses	—	New“approximately $5.2 billion”	—	—	—	—	—	—
Non-GAAP operating expenses	—	—	—	—	New“$ 5,000”	—	—	—
Non-GAAP operating expenses	—	—	—	New“$ 4,200”	—	—	—	—
Non-GAAP operating expenses	—	—	New“$ 4,000”	—	—	—	—	—
Non-GAAP operating expenses	—	New“$ 3,600”	—	—	—	—	—	—
Operating expense growth	—	—	New“mid-30% range”	Reiterated“high-30% range”	—	—	—	—
For FY2025
Revenue	New“$37.5 billion, plus or minus 2%”	—	—	—	—	—	—	—
GAAP and non-GAAP gross margins	New“73.0% and 73.5%, respectively, plus or minus 50 basis points”	—	—	—	—	—	—	—
GAAP gross margin	New“73.0 %”	—	—	—	—	—	—	—
Non-GAAP gross margin	New“73.5 %”	—	—	—	—	—	—	—
GAAP and non-GAAP operating expenses	New“approximately $4.8 billion and $3.4 billion, respectively”	—	—	—	—	—	—	—
GAAP and non-GAAP other income and expense	New“an income of approximately $400 million”	—	—	—	—	—	—	—
GAAP and non-GAAP tax rates	New“16.5%, plus or minus 1%”	—	—	—	—	—	—	—
GAAP operating expenses	New“approximately $4.8 billion”	—	—	—	—	—	—	—
Non-GAAP operating expenses	New“$ 3,400”	—	—	—	—	—	—	—
No period stated
Non-GAAP gross margins	—	—	—	New“mid-70% range”	—	—	—	—
Quarterly dividend	—	—	—	—	—	—	New“$0.25 per share”	—
Share repurchase authorization increase	—	—	—	—	—	—	New“$80.0 billion”	—

Values in quotation marks are the company’s words. Change labels compare each statement with the same metric and target year in the previous release. HighGravityData does not judge whether guidance was met.