Beginning in Q1 fiscal 2027, NVIDIA will include stock-based compensation expense in its non-GAAP financial measures.

TRUE: NVIDIA's reported non-GAAP measures for Q1 fiscal 2027 (gross margin, operating expenses, operating income, net income/EPS) include stock-based compensation expense, as shown in the results release and its GAAP-to-non-GAAP reconciliation. MOSTLY TRUE: SBC is included in most of the non-GAAP measures from Q1 FY2027, with a minor exception. MOSTLY FALSE: inclusion starts only in a later quarter, or covers only a small subset of measures. FALSE: the Q1 FY2027 non-GAAP measures still exclude SBC, or the change is abandoned.

Set before the research began.

1. E1 NVIDIA Announces Financial Results for First Quarter Fiscal 2027 NVIDIA Corporation (filed with the SEC as an exhibit) · 20 May 2026 Own record

   “Beginning in the first quarter of fiscal 2027, NVIDIA’s non-GAAP financial measures no longer exclude stock-based compensation expense. The historical non-GAAP financial information presented has been updated to include stock-based compensation expense.”

2. E2 NVIDIA Announces Financial Results for First Quarter Fiscal 2027 NVIDIA Corporation (filed with the SEC as an exhibit) · 20 May 2026 Own record

   “Non-GAAP operating expenses | | $ | 7,449 | | | $ | 6,666 | | | $ | 4,993 |”

3. E3 Nvidia’s surprise move to include stock compensation expenses could make other companies look bad Fortune · 4 March 2026

   “Beginning in the first quarter of fiscal 2027, we will include stock-based compensation expense in our non-GAAP financial measures,” chief financial officer Colette Kress noted in her prepared commentary.”

4. E4 NVIDIA earned $59.7bn last quarter, collected $24.1bn Catlytic · 27 August 2026

   “From the first quarter of fiscal 2027 NVIDIA stopped excluding stock-based compensation from its non-GAAP measures — the company says so in the same exhibit, and restated prior periods to match.”

NVIDIA's Q1 fiscal 2027 results release, filed with the SEC, says that from Q1 FY2027 its non-GAAP measures no longer exclude stock-based compensation, and that historical non-GAAP figures were updated to include it (E1). The same release reports a non-GAAP operating expenses row with figures of $7,449, $6,666 and $4,993 (E2); the excerpt does not show the reconciliation's adjustment lines. An independent analysis of a later NVIDIA filing confirms the change took effect in Q1 FY2027 and that prior periods were restated (E4). So the change described in the CFO's February commentary (E3) was made starting in the quarter promised.