Revenue scale
$ billions · available fiscal history
Revenue increased from $26.04B to $44.06B across the available period.
| Q1 FY25 | $26.04B |
|---|---|
| Q2 FY25 | $30.04B |
| Q3 FY25 | $35.08B |
| Q4 FY25 | $39.33B |
| Q1 FY26 | $44.06B |
NVDA
NVIDIA
NVDA·Q1 FY26·Updated Aug 12, 2026
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Next earnings: Nov 18, 2026
Market cap: $5.2T · Oct 19, 2026
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Quarter history
Quarter Read
↗ Momentum improvingSolid quarter
Revenue increased by 69.2% year over year, while gross margin decreased by 17.8 percentage points. Compute accounted for 87.3% of the reported revenue mix.
Momentum
Revenue changed +69.2% year over year
Margin recovery
Operating margin was 49.1%
Quality and concentration
Net margin fell 13.5pp Q/Q; other income / expense increased by $919M Q/Q.
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Selected-quarter income statement
Revenue -> Net Profit flowThe full Sankey remains the primary report view; Premium adds history around it rather than replacing it.
Quarter scoreboard
Q1 FY26 · sequential and annual context through this quarter
Revenue
$44.06B
+69.2% Y/Y+12.0% Q/Q
Gross Profit
$26.67B
+30.7% Y/Y-7.1% Q/Q
60.5% margin · -12.5pp Q/Q
Operating Profit
$21.64B
+28.0% Y/Y-9.9% Q/Q
49.1% margin · -12.0pp Q/Q
Net Profit
$18.78B
+26.2% Y/Y-15.0% Q/Q
Other income / expense (current): +$182M
What changed
Revenue
+$4.73B
+12.0% Q/Q
Revenue rose 12.0% quarter over quarter from $39.33B to $44.06B.
Improved.Operating profit
-$2.39B
-9.9% Q/Q
Operating profit fell 9.9% quarter over quarter from $24.03B to $21.64B.
Weakened.Operating margin
-12.0pp
-12.0pp Q/Q
Operating margin contracted 12.0 percentage points quarter over quarter from 61.1% to 49.1%.
Weakened.Net margin
-13.5pp
-13.5pp Q/Q
Net margin contracted 13.5 percentage points quarter over quarter from 56.2% to 42.6%.
Weakened.
Show 12 more changes
Sequential changes · Q/Q
- WeakenedGross margin contracted 12.5 percentage points quarter over quarter from 73.0% to 60.5%. Direction: Weakened.
- WeakenedProfit conversion fell 5.1 percentage points quarter over quarter from 91.9% to 86.8%. Direction: Weakened.
- StableOperating-expense ratio was broadly stable, declining 0.51 percentage points quarter over quarter to 11.4%. Direction: Stable.
- StableRevenue growth was broadly stable, declining 0.09 percentage points quarter over quarter. Direction: Stable.
Annual changes · Y/Y
- WeakenedRevenue growth decelerated 192.9 percentage points year over year. Direction: Weakened.
- ImprovedRevenue rose 69.2% year over year from $26.04B to $44.06B. Direction: Improved.
- ImprovedOperating profit rose 28.0% year over year from $16.91B to $21.64B. Direction: Improved.
- WeakenedGross margin contracted 17.8 percentage points year over year from 78.4% to 60.5%. Direction: Weakened.
- WeakenedOperating margin contracted 15.8 percentage points year over year from 64.9% to 49.1%. Direction: Weakened.
- WeakenedNet margin contracted 14.5 percentage points year over year from 57.1% to 42.6%. Direction: Weakened.
- ImprovedOperating-expense ratio fell 2.0 percentage points year over year from 13.4% to 11.4%. Direction: Improved.
- WeakenedProfit conversion fell 1.2 percentage points year over year from 88.0% to 86.8%. Direction: Weakened.
5-quarter fundamental trends
Actual values from the available reports. Missing or non-comparable observations remain explicit.
RevenueGross marginOperating marginNet margin
Margin evolution
Percent of revenue · net margin includes non-operating items
Operating margin ranged from 49.1% to 64.9% across the displayed period.
| Q1 FY25 | 78.37941628264208% | 64.93855606758832% | 57.14285714285714% |
|---|---|---|---|
| Q2 FY25 | 75.13315579227697% | 62.050599201065246% | 55.25965379494008% |
| Q3 FY25 | 74.57240592930444% | 62.34321550741163% | 55.04561003420753% |
| Q4 FY25 | 73.02313755403% | 61.098398169336384% | 56.16577676074244% |
| Q1 FY26 | 60.53109396277803% | 49.11484339536995% | 42.623694961416255% |
Data Center share of company revenue
Comparable top-level observations · taxonomy breaks remain explicit gaps
Data Center share changed from 86.6% to 88.8% across comparable periods.
Company memory
A durable view of how the earnings thesis evolved across 5 available reports.
Through Q1 FY26 · later-quarter evidence excluded.
Momentum improving · Margins contracting
2 reports across Q1 FY25–Q2 FY25. 10 evidence items were captured. Stored verdicts: Very strong quarter.
Momentum improving · Margins stable
2 reports across Q3 FY25–Q4 FY25. 9 evidence items were captured. Stored verdicts: Very strong quarter; Solid quarter.
Momentum improving · Margins contracting
1 report across Q1 FY26. 8 evidence items were captured. Stored verdicts: Solid quarter.
Very strong quarterQ1 FY25
Very strong quarterQ2 FY25
Very strong quarterQ3 FY25
Solid quarterQ4 FY25
Solid quarterQ1 FY26
Company Memory Timeline
A durable quarter-by-quarter record of the company's fundamental signals and prior analysis. Entries link to their source reports and evidence.
View full 5-quarter timelineShow timeline preview
Positive evidence: Operating leverage is working in the company's favor · Revenue grew 12.0% quarter over quarter
Downside evidence: Gross margin contracted 12.5 percentage points · Net margin contracted 13.5 percentage points · Operating margin contracted 12.0 percentage points
Watch next: Watch whether gross margin improves from its latest reported level next quarter · Watch whether net profit improves from its latest reported level next quarter · Watch whether operating margin improves from its latest reported level next quarter
Source: SEC filing (Q1 FY26)
Metric evidence
Validated report metrics supporting this snapshot.
- Q1 FY26 · Operating leverage
- Q1 FY26 · Revenue growth momentum
- Q1 FY26 · Net margin movement
Positive evidence: Operating leverage is working in the company's favor · Profit conversion expanded 3.6 percentage points · Revenue grew 12.1% quarter over quarter
Downside evidence: Gross margin contracted 1.5 percentage points · Operating margin contracted 1.2 percentage points
Watch next: Watch whether gross margin improves from its latest reported level next quarter · Watch whether operating margin improves from its latest reported level next quarter
Source: SEC filing (Q4 FY25)
Metric evidence
Validated report metrics supporting this snapshot.
- Q4 FY25 · Operating leverage
- Q4 FY25 · Profit conversion
- Q4 FY25 · Revenue growth momentum
- Q4 FY25 · Net margin movement
Positive evidence: Operating leverage is working in the company's favor · Revenue grew 16.8% quarter over quarter
No material downside signals identified.
No new watch conditions triggered.
Source: SEC filing (Q3 FY25)
Metric evidence
Validated report metrics supporting this snapshot.
- Q3 FY25 · Operating leverage
- Q3 FY25 · Revenue growth momentum
Sources and methodology
5 published, validated reports used · Q1 FY25–Q1 FY26 · selected report analysed 2026-08-12
Point-in-time scope: through Q1 FY26; later-quarter data is excluded. Q/Q values are derived from adjacent report metrics; any comparability caveat is shown with the relevant trend above.