Key insights
7 takeaways · ~3 min read- 01NVIDIA's total inventories significantly increased to $19.784 billion as of October 26, 2025, up from $10.080 billion on January 26, 2025. This includes substantial increases in raw materials, work in process, and finished goods.
- 02Inventory provisions for the third quarter of fiscal year 2026 were $378 million, an increase from $322 million in the third quarter of fiscal year 2025. For the first nine months of fiscal year 2026, inventory provisions surged to $3.6 billion, compared to $876 million in the same period of fiscal year 2025.
- 03Goodwill increased by $1.1 billion in the first nine months of fiscal year 2026 due to acquisitions, allocated to the Compute & Networking reporting unit.
- 04Four direct customers accounted for a significant portion of accounts receivable as of October 26, 2025, with percentages of 22%, 17%, 14%, and 12%.
- 05A $4.5 billion charge was incurred in Q1 FY2026 for excess H20 inventory and purchase obligations due to new US government export license requirements for China, which diminished demand. To date, only approximately $50 million in H20 revenue has been generated under granted licenses.
- 06Revenue from sales to customers headquartered outside the United States decreased, accounting for 31% of total revenue in Q3 FY2026 (down from 44% in Q3 FY2025) and 34% for the first nine months of FY2026 (down from 41% in the same period of FY2025).
- 07NVIDIA's aggregate debt maturities as of October 26, 2025, total $8.467 billion net carrying amount, with $1 billion due in one year and $7.468 billion as the total long-term portion.
Summary
SEC 10-Q filing for NVIDIA, filed 2025-11-19.
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