Nextracker Reports Q1 FY25 Financial Results

About this update from Nextpower Inc.

[{"type":"text","content":"\n50% Revenue Growth YoY; Reaffirms FY25 Outlook\n\n\nAdds Solar Foundation Offerings with Ojjo and Solar Pile International Acquisitions\n\n\n FREMONT, Calif.--(BUSINESS WIRE)--\nNextracker (Nasdaq: NXT), a global market leader of intelligent solar tracker and software solutions, today announced financial results for the first quarter of fiscal year 2025, ended June 28, 2024.\n\n\n\n\nFinancial Summary\n\n\n\n\n(In millions, except per share)\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ1 FY25*\n\n\n\n\n\n\nQ4 FY24*\n\n\n\n\n\n\nQ1 FY24*\n\n\n\n\n\n\n\n\nRevenue\n\n\n\n\n\n\n$720\n\n\n\n\n\n\n$737\n\n\n\n\n\n\n$480\n\n\n\n\n\n\n\n\nGAAP Gross Profit\n\n\n\n\n\n\n$237\n\n\n\n\n\n\n$340\n\n\n\n\n\n\n$114\n\n\n\n\n\n\n\n\nGAAP Gross Margin\n\n\n\n\n\n\n33.0%\n\n\n\n\n\n\n46.2%\n\n\n\n\n\n\n23.7%\n\n\n\n\n\n\n\n\nGAAP Net Income\n\n\n\n\n\n\n$125\n\n\n\n\n\n\n$223\n\n\n\n\n\n\n$64\n\n\n\n\n\n\n\n\nGAAP Net Income Margin\n\n\n\n\n\n\n17.3%\n\n\n\n\n\n\n30.3%\n\n\n\n\n\n\n13.3%\n\n\n\n\n\n\n\n\nGAAP Diluted EPS\n\n\n\n\n\n\n$0.84\n\n\n\n\n\n\n$1.51\n\n\n\n\n\n\n$0.43\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nAdjusted Gross Profit\n\n\n\n\n\n\n$241\n\n\n\n\n\n\n$222\n\n\n\n\n\n\n$116\n\n\n\n\n\n\n\n\nAdjusted Gross Margin\n\n\n\n\n\n\n33.5%\n\n\n\n\n\n\n30.2%\n\n\n\n\n\n\n24.1%\n\n\n\n\n\n\n\n\nAdjusted EBITDA\n\n\n\n\n\n\n$175\n\n\n\n\n\n\n$160\n\n\n\n\n\n\n$84\n\n\n\n\n\n\n\n\nAdjusted EBITDA Margin\n\n\n\n\n\n\n24.3%\n\n\n\n\n\n\n21.7%\n\n\n\n\n\n\n17.4%\n\n\n\n\n\n\n\n\nAdjusted Net Income\n\n\n\n\n\n\n$139\n\n\n\n\n\n\n$142\n\n\n\n\n\n\n$71\n\n\n\n\n\n\n\n\nAdjusted Diluted EPS\n\n\n\n\n\n\n$0.93\n\n\n\n\n\n\n$0.96\n\n\n\n\n\n\n$0.48\n\n\n\n\n\n\n\n\n\n*Q1 FY25 GAAP and adjusted results include approximately $47 million of IRA 45X advanced manufacturing tax credit vendor rebates (45X credits). Q4 FY24 GAAP results include a cumulative adjustment to recognize 45X credits of $121 million earned on eligible deliveries from January 1, 2023, through March 31, 2024. Q1 FY24 results do not include 45X credits.\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nPlease refer to Nextracker’s most recent Annual Report on Form 10-K for more information on 45X credits and schedules IV and V attached to this press release for a reconciliation of non-GAAP to GAAP financial measures, and additional information can be found on the Inv...

More updates from Nextpower Inc.