NVIDIA Announces Financial Results for Third Quarter Fiscal 2025

NVIDIA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)


		Three Months Ended						Nine Months Ended
		October 27,			October 29,			October 27,			October 29,
			2024			2023			2024			2023

Cash flows from operating activities:
Net income		$	19,309		$	9,243		$	50,789		$	17,475
Adjustments to reconcile net income to net cash
provided by operating activities:
	Stock-based compensation expense		1,252			979			3,416			2,555
	Depreciation and amortization		478			372			1,321			1,121
	(Gains) losses on investments in non-affiliated entities and publicly-held equity securities, net		(37	)		69			(302	)		24
	Deferred income taxes		(602	)		(529	)		(3,879	)		(2,411	)
	Other		(79	)		(66	)		(365	)		(170	)
Changes in operating assets and liabilities, net of acquisitions:
	Accounts receivable		(3,561	)		(1,243	)		(7,694	)		(4,482	)
	Inventories		(978	)		(457	)		(2,357	)		405
	Prepaid expenses and other assets		(714	)		254			(726	)		(337	)
	Accounts payable		1,689			461			2,490			1,250
	Accrued and other current liabilities		606			(1,722	)		3,918			953
	Other long-term liabilities		266			(28	)		849			208
Net cash provided by operating activities			17,629			7,333			47,460			16,591

Cash flows from investing activities:
	Proceeds from maturities of marketable securities		1,386			2,891			9,485			8,001
	Proceeds from sales of marketable securities		154			-			318			-
	Purchases of marketable securities		(4,518	)		(5,345	)		(19,565	)		(10,688	)
	Purchase related to property and equipment and intangible assets		(813	)		(278	)		(2,159	)		(815	)
	Acquisitions, net of cash acquired		(147	)		-			(465	)		(83	)
	Purchases of investments in non-affiliated entities		(473	)		(441	)		(1,008	)		(897	)
	Proceeds from sales of investments in non-affiliated entities		66			-			171			-
	Other		-			4			-			25
Net cash used in investing activities			(4,345	)		(3,169	)		(13,223	)		(4,457	)

Cash flows from financing activities:
	Proceeds related to employee stock plans		204			156			489			403
	Payments related to repurchases of common stock		(10,998	)		(3,806	)		(25,895	)		(6,874	)
	Repayment of debt		-			-			(1,250	)		(1,250	)
	Payments related to tax on restricted stock units		(1,680	)		(764	)		(5,068	)		(1,942	)
	Dividends paid		(245	)		(99	)		(589	)		(296	)
	Principal payments on property and equipment and intangible assets		(29	)		(13	)		(97	)		(44	)
	Other		-			(1	)		-			(1	)
Net cash used in financing activities			(12,748	)		(4,527	)		(32,410	)		(10,004	)

Change in cash, cash equivalents, and restricted cash			536			(363	)		1,827			2,130
Cash, cash equivalents, and restricted cash at beginning of period			8,571			5,882			7,280			3,389
Cash, cash equivalents, and restricted cash at end of period		$	9,107		$	5,519		$	9,107		$	5,519

Supplemental disclosures of cash flow information:
Cash paid for income taxes, net		$	3,540		$	4,348		$	10,989		$	4,676

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