Nextracker Inc

Latest Results (15.05.2026):

Nextracker Inc (now Nextpower) reported results for the third quarter of fiscal year 2026 (Q3 FY26), ended December 31, 2025. The company delivered revenue of $909 million (up 34% YoY), GAAP net income of $131 million (GAAP diluted EPS $0.85), and adjusted EBITDA of $214 million, while highlighting a record backlog, a rebrand to Nextpower, and strengthened financial flexibility including an investment-grade rating and a $500 million share repurchase authorization.

Top-line

Revenue for Q3 FY26 was $909 million, a 34% year-over-year increase from $679 million in Q3 FY25, driven by strong U.S. demand and record bookings in Europe.

Profitability and EPS

GAAP gross profit was $288 million (31.7% gross margin) and GAAP net income was $131 million (GAAP diluted EPS $0.85). Adjusted gross profit was $295 million and adjusted EBITDA was $214 million (23.5% margin); margins declined versus the prior-year quarter (GAAP gross margin 35.5%, adjusted EBITDA margin 27.4%).

Cash, liquidity and balance sheet

Nextpower ended Q3 FY26 with $953 million of cash and cash equivalents, reported no debt, and year-to-date operating cash flow of $391 million; nine-month adjusted free cash flow was $360 million.

Capital allocation and credit

The company achieved an investment-grade rating from Fitch and authorized a share repurchase program to repurchase up to $500 million of common stock over three years, signaling management confidence in cash generation.

Bookings, backlog and strategic moves

Nextpower reported a record backlog and strong market momentum, launched new product/market initiatives (NX Earth Truss, NX Horizon Hail Pro bundled wins), completed the Nextpower Arabia JV and secured a 2.25 GW supply commitment for the Bisha Solar Project.

FY26 outlook raised

The company raised its FY26 guidance: revenue $3.425–3.500 billion (from $3.275–3.475B), GAAP net income $525–540 million, adjusted EBITDA $810–830 million, and adjusted diluted EPS $4.26–4.36.

Non-GAAP adjustments and tax credits

Q3 FY26 results include approximately $53 million of IRA Section 45X advanced manufacturing tax credit vendor rebates and tariffs; the company also reports non-GAAP measures that exclude stock-based compensation, intangible amortization and acquisition-related costs (reconciliations provided in the release).