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Nextracker Reports First Quarter Fiscal Year 2026 Financial Results
Q1 FY26 Revenues of $864 Million, Up 20% Year-over-Year Announces Portfolio of Advanced Robotics and AI Acquisitions FREMONT, Calif.--(BUSINESS WIRE)--
About this update from Nextpower Inc.
Q1 FY26 Revenues of $864 Million, Up 20% Year-over-Year Announces Portfolio of Advanced Robotics and AI Acquisitions FREMONT, Calif.--(BUSINESS WIRE)-- Nextracker (Nasdaq: NXT), a leading solar technology platform provider, today announced financial results for the first quarter of fiscal year 2026, ended June 27, 2025. Financial Summary (In millions, except per share) Q1 FY26 Q4 FY25 Q1 FY25 Revenue $864 $924 $720 GAAP Gross Profit $282 $306 $237 GAAP Gross Margin 32.6 % 33.1 % 33.0 % GAAP Net Income $157 $158 $125 GAAP Net Income Margin 18.2 % 17.1 % 17.3 % GAAP Diluted EPS $1.04 $1.05 $0.84 Adjusted Gross Profit $285 $309 $241 Adjusted Gross Margin 33.0 % 33.4 % 33.5 % Adjusted EBITDA $215 $242 $175 Adjusted EBITDA Margin 24.9 % 26.2 % 24.3 % Adjusted Net Income $176 $193 $139 Adjusted Diluted EPS $1.16 $1.29 $0.93 Q1 FY26, Q4 FY25 and Q1 FY25 results include approximately $93 million, $75 million, and $47 million, respectively, of IRA 45X advanced manufacturing tax credit vendor rebates (“45X credits”). Please refer to Nextracker’s most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K for more information on 45X credits and schedules III, IV and V attached to this press release for a reconciliation of non-GAAP to GAAP financial measures. Additional information can be found on the Investor Relations section of our website. First Quarter Fiscal Year 2026 Financial Highlights: Revenue of $864 million, up 20% YoY and 27% international revenue growth YoY GAAP gross profit of $282 million, up 19% YoY and GAAP operating income of $186 million, up 16% YoY Adjusted gross profit of $285 million, up 18% YoY and adjusted EBITDA of $215 million, up 23% YoY Total backlog over $4.75 billion Operating cash flow of $81 million, $743 million of cash at the end of the quarter with no debt $86.8 million in cash consideration invested in Q1 for strategic acquisitions to support new growth initiatives Business Highlights: Achieved #1 global market share for the 10th consecutive year; top market position in North America, Latin America, Oceania, and Europe Continued rapid adoption of NX Horizon Hail Pro™ and NX Horizon-XTR™ series trackers with quarter-over-quarter sales up 43% and 22%, respectively Positive customer reaction to expanding technology platform including foundation and eBOS products, with cumulative sales of NX Earth Truss® now over 1 GW “Ne...