Business
Nextracker Reports Q3 FY25 Financial Results
Reaffirms FY25 Revenue Outlook and Raises FY25 Profit Outlook FREMONT, Calif.--(BUSINESS WIRE)-- Nextracker (Nasdaq: NXT), a global market leader of
About this update from Nextpower Inc.
[{"type":"text","content":"\nReaffirms FY25 Revenue Outlook and Raises FY25 Profit Outlook\n\n\n FREMONT, Calif.--(BUSINESS WIRE)--\nNextracker (Nasdaq: NXT), a global market leader of intelligent solar trackers, foundations, and software solutions, today announced financial results for the third quarter of fiscal year 2025, ended December 31, 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 \n\n\n\n\n\n\nQ3 FY25*\n\n\n\n\n\n\nQ2 FY25*\n\n\n\n\n\n\nQ3 FY24\n\n\n\n\n\n\n\n\nRevenue\n\n\n\n\n\n\n$679\n\n\n\n\n\n\n$636\n\n\n\n\n\n\n$710\n\n\n\n\n\n\n\n\nGAAP Gross Profit\n\n\n\n\n\n\n$241\n\n\n\n\n\n\n$225\n\n\n\n\n\n\n$210\n\n\n\n\n\n\n\n\nGAAP Gross Margin\n\n\n\n\n\n\n35.5%\n\n\n\n\n\n\n35.4%\n\n\n\n\n\n\n29.5%\n\n\n\n\n\n\n\n\nGAAP Net Income\n\n\n\n\n\n\n$117\n\n\n\n\n\n\n$117\n\n\n\n\n\n\n$128\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\n18.5%\n\n\n\n\n\n\n18.0%\n\n\n\n\n\n\n\n\nGAAP Diluted EPS\n\n\n\n\n\n\n$0.79\n\n\n\n\n\n\n$0.79\n\n\n\n\n\n\n$0.87\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$245\n\n\n\n\n\n\n$228\n\n\n\n\n\n\n$212\n\n\n\n\n\n\n\n\nAdjusted Gross Margin\n\n\n\n\n\n\n36.0%\n\n\n\n\n\n\n35.9%\n\n\n\n\n\n\n29.9%\n\n\n\n\n\n\n\n\nAdjusted EBITDA\n\n\n\n\n\n\n$186\n\n\n\n\n\n\n$173\n\n\n\n\n\n\n$168\n\n\n\n\n\n\n\n\nAdjusted EBITDA Margin\n\n\n\n\n\n\n27.4%\n\n\n\n\n\n\n27.2%\n\n\n\n\n\n\n23.6%\n\n\n\n\n\n\n\n\nAdjusted Net Income\n\n\n\n\n\n\n$154\n\n\n\n\n\n\n$145\n\n\n\n\n\n\n$142\n\n\n\n\n\n\n\n\nAdjusted Diluted EPS\n\n\n\n\n\n\n$1.03\n\n\n\n\n\n\n$0.97\n\n\n\n\n\n\n$0.96\n\n\n\n\n\n\n\n\n\n*Q3 FY25 and Q2 FY25 GAAP and adjusted results include approximately $52 million and $51 million, respectively, of IRA 45X advanced manufacturing tax credit vendor rebates (“45X credits”). Q3 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 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.\n\n\n\n\n\n\n\nBusiness Highlights\n\n\n\nRecord backlog increased to significantly greate...