These tables present information about the Company's non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, non-GAAP net income attributable to Dell Technologies Inc., non-GAAP earnings per share attributable to Dell Technologies Inc. - diluted, free cash flow and adjusted free cash flow, all of which are non-GAAP financial measures provided as a supplement to the results provided in accordance with generally accepted accounting principles in the United States of America ("GAAP"). A detailed discussion of Dell Technologies' reasons for including these non-GAAP financial measures, the limitations associated with these measures, the items excluded from these measures, and our reason for excluding those items are presented in "Management's Discussion and Analysis of Financial Condition and Results of Operations — Non-GAAP Financial Measures" in our periodic reports filed with the SEC. Dell Technologies encourages investors to review the non-GAAP discussion in these reports in conjunction with the presentation of non-GAAP financial measures.
DELL TECHNOLOGIES INC.
| |||||||||||
|
| |||||||||||
|
| Three Months Ended |
|
|
| Nine Months Ended |
|
| ||||
|
| November 1, 2024 |
| November 3, 2023 |
| Change |
| November 1, 2024 |
| November 3, 2023 |
| Change |
Net revenue | $ 24,366 |
| $ 22,251 |
| 10 % |
| $ 71,636 |
| $ 66,107 |
| 8 % |
Non-GAAP gross margin | $ 5,437 |
| $ 5,276 |
| 3 % |
| $ 15,848 |
| $ 15,976 |
| (1) % |
% of net revenue | 22.3 % |
| 23.7 % |
|
|
| 22.1 % |
| 24.2 % |
|
|
Non-GAAP operating expenses | $ 3,238 |
| $ 3,312 |
| (2) % |
| $ 10,141 |
| $ 10,437 |
| (3) % |
% of net revenue | 13.3 % |
| 14.9 % |
|
|
| 14.1 % |
| 15.8 % |
|
|
Non-GAAP operating income | $ 2,199 |
| $ 1,964 |
| 12 % |
| $ 5,707 |
| $ 5,539 |
| 3 % |
% of net revenue | 9.0 % |
| 8.8 % |
|
|
| 8.0 % |
| 8.4 % |
|
|
Non-GAAP net income | $ 1,540 |
| $ 1,389 |
| 11 % |
| $ 3,834 |
| $ 3,635 |
| 5 % |
| % of net revenue | 6.3 % |
| 6.2 % |
|
|
| 5.4 % |
| 5.5 % |
|
|
| Non-GAAP earnings per share - diluted | $ 2.15 |
| $ 1.88 |
| 14 % |
| $ 5.31 |
| $ 4.93 |
| 8 % |
|
|
|
|
| Amounts are based on underlying data and may not visually foot due to rounding. |
