Nextpower Inc (NXT)

GameChange Energy to Vigorously Defend Patent Infringement Allegations by NextpowerJune 1, 2026 7:53 PM
PR Newswire (US) NORWALK, Conn., June 2, 2026 /PRNewswire/ -- GameChange Energy, a global energy infrastructure company, is aware of the lawsuit filed by Nextpower (Nasdaq: NXT) today alleging infringement of three patents. GameChange Energy denies the allegations in the complaint and intends to mount a full and vigorous defense. GameChange Energy's Genius Tracker was independently developed by GameChange Energy and is recognized in the industry as the leading tracker system for challenging weather environments, energy-enhancing algorithms, easy-to-install systems, supported by our dedicated project management capabilities. With its global footprint and over 63 GW of system delivered, GameChange has been recognized as one of the top 3 global tracker companies by independent market surveys.About GameChange EnergyGameChange Energy is a global energy infrastructure company delivering integrated, highly engineered solutions for utility-scale renewable energy and critical power applications. Through our portfolio of operating companies, we provide solar trackers, fixed-tilt mounting systems, eBOS solutions, transformers, drone-based asset inspection, and customized infrastructure solutions for renewable energy plants, data centers, and battery energy storage systems (BESS). Our technologies are designed to reduce risk, improve performance, and deliver reliable operations worldwide. GameChange Energy is engineering the future of clean energy infrastructure.For more information about GameChange Energy, visit www.gamechangeenergy.com.Media Contact
Lisa Andrews
Director of Marketing, GameChange Energy
lisa.andrews@gamechangeenergy.comLogo - https://mma.prnewswire.com/media/2918210/GameChange_Energy_Technologies__Logo.jpg View original content:https://www.prnewswire.co.uk/news-releases/gamechange-energy-to-vigorously-defend-patent-infringement-allegations-by-nextpower-302787723.html Original: GameChange Energy to Vigorously Defend Patent Infringement Allegations by Nextpower

GameChange Energy to Vigorously Defend Patent Infringement Allegations by NextpowerJune 1, 2026 7:00 PM
PR Newswire (US) NORWALK, Conn., June 1, 2026 /PRNewswire/ -- GameChange Energy, a global energy infrastructure company, is aware of the lawsuit filed by Nextpower (Nasdaq: NXT) today alleging infringement of three patents. GameChange Energy denies the allegations in the complaint and intends to mount a full and vigorous defense. GameChange Energy's Genius Tracker was independently developed by GameChange Energy and is recognized in the industry as the leading tracker system for challenging weather environments, energy-enhancing algorithms, easy-to-install systems, supported by our dedicated project management capabilities. With its global footprint and over 63 GW of system delivered, GameChange has been recognized as one of the top 3 global tracker companies by independent market surveys.About GameChange EnergyGameChange Energy is a global energy infrastructure company delivering integrated, highly engineered solutions for utility-scale renewable energy and critical power applications. Through our portfolio of operating companies, we provide solar trackers, fixed-tilt mounting systems, eBOS solutions, transformers, drone-based asset inspection, and customized infrastructure solutions for renewable energy plants, data centers, and battery energy storage systems (BESS). Our technologies are designed to reduce risk, improve performance, and deliver reliable operations worldwide. GameChange Energy is engineering the future of clean energy infrastructure.For more information about GameChange Energy, visit www.gamechangeenergy.com.Media Contact
Lisa Andrews
Director of Marketing, GameChange Energy
lisa.andrews@gamechangeenergy.com View original content to download multimedia:https://www.prnewswire.com/news-releases/gamechange-energy-to-vigorously-defend-patent-infringement-allegations-by-nextpower-302787679.htmlSOURCE GameChange Energy Original: GameChange Energy to Vigorously Defend Patent Infringement Allegations by Nextpower

Nextpower Announces Entry into Battery Energy Storage (BESS) and AI Data Center Markets with Definitive Agreement to Acquire Prevalon Energy, Increases Fiscal Year 2027 OutlookMay 28, 2026 4:05 PM
Business Wire Acquisition is expected to extend Nextpower’s solar power technology platform with the integration of BESS and energy management software Expands market opportunity for energy infrastructure to serve the utility grid, AI data centers, and industrial power systems Prevalon has over 6 GWh of BESS systems deployed globally and 1.3 GW of firm supply contracts supporting AI and hyperscaler data center infrastructure deployments Transaction expected to be accretive to FY27 financial outlook Nextpower™ (Nasdaq: NXT), a leading provider of solar and power technology solutions for utility-scale power plants, today announced it has entered into a definitive agreement to acquire Prevalon Energy, a U.S.-headquartered joint venture between Mitsubishi Power Americas and EES, for total consideration of up to $365 million, not including cash to be acquired, comprising cash and stock. Closing of the transaction is subject to customary closing conditions, including antitrust regulatory review. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260528147848/en/Featured technology: Prevalon Energy's Hybrid Power Stabilizer (HPS) at an AI data center The acquisition is expected to extend Nextpower’s technology platform across BESS and intelligent controls for critical power infrastructure. The Company projects that the global demand for BESS outside China could represent an opportunity of up to $35 billion by 2030, with the U.S. comprising up to $15 billion. In connection with the transaction, Nextpower is raising its fiscal year 2027 outlook, which assumes the successful closing of the transaction. Nextpower now expects fiscal 2027 revenue of approximately $4.0 billion to $4.4 billion, compared to its prior outlook of $3.8 billion to $4.1 billion, and adjusted EBITDA of approximately $845 million to $930 million, compared to its prior outlook of $825 million to $900 million. Nextpower will provide additional details on its updated outlook during an investor conference call later today. “Prevalon was the perfect choice for Nextpower to expand into BESS,” said Markus Wilhelm, founder and CEO of Strata Energy. “Both companies are technology focused and understand power, utilities, and complex use cases for customers. Prevalon’s BESS hardware and software platform solves challenging problems for utility-connected and self-powered AI data centers, including inertia support, grid stabilization, contingency management, and GPU AI workload smoothing. This is a differentiated, competitive advantage that Nextpower’s customers will value.” Strata was one of the early movers in BESS, delivering over a dozen utility-scale BESS projects since 2018. “Many of our customers have rapidly expanded their storage programs and asked us to extend Nextpower’s platform into power conversion and BESS to deliver fully integrated firm power solutions,” said Dan Shugar, founder and CEO of Nextpower. “Together with our recently announced and complementary power conversion acquisition, we expect that Prevalon’s BESS platform will open new market opportunities for Nextpower in AI data center power supply applications. Prevalon is already engaged with large hyperscalers with a lean, seasoned team that has a solid track record delivering BESS for utilities and IPPs across a variety of use cases.” Prevalon’s BESS technology supports applications where power quality, rapid response, and deployment speed are critical, including AI data centers, private grids, grid-connected storage, and industrial power systems. Its Hybrid Power Stabilizer is designed to manage rapid load changes and support grid stability, while its HD5™ DC block and newly released HD5™ AC block products provide modular energy storage building blocks supported by insightOS controls, monitoring, diagnostics, and long-term service capabilities. “Prevalon shares Nextpower’s relentless focus on innovation, quality, reliability, and customer success,” said Tom Cornell, President and CEO of Prevalon Energy. “Operating as part of Nextpower, we can leverage their global reach and deep client relationships. Our customers will benefit from doing business with a reliable, investment-grade partner with decades of experience in power generation and management.” The acquisition continues Nextpower’s evolution to a comprehensive, integrated energy technology platform spanning structural systems, electrical infrastructure, power conversion, storage, controls, automation, and software. Earlier this month, Nextpower entered into a definitive agreement to acquire key power conversion technology used to store and dispatch electricity reliably and efficiently. The transaction is expected to close in Q2 FY27, subject to customary regulatory approvals and closing conditions. FY2027 Annual Outlook   Updated Outlook Previous Outlook Revenue $4.0 to $4.4 billion $3.8 to $4.1 billion GAAP Net Income $507 to $573 million $501 to $559 million GAAP Diluted EPS $3.22 to $3.64 $3.19 to $3.56 Adjusted EBITDA $845 to $930 million $825 to $900 million Adjusted Diluted EPS $4.30 to $4.73 $4.21 to $4.59 Updated outlook includes planned incremental costs of approximately $50 million related to the acceleration of our entry into the power conversion market. Adjusted EBITDA range of $845 million to $930 million excludes approximately $208 million for stock-based compensation, net intangible amortization, and acquisition related costs. Adjusted Diluted EPS range of $4.30 to $4.73 excludes approximately $1.09 for stock-based compensation, net intangible amortization, and acquisition related costs, net of impacts for tax. Investor Conference Call and Webcast Nextpower will host an investor conference call and webcast to discuss the acquisition today, May 28, at 2 p.m. PT/5 p.m. ET. The live webcast and presentation materials are available at investors.nextpower.com. The webcast replay will be available on the Nextpower Investor Relations website following the conclusion of the event. About Nextpower Nextpower™ (Nasdaq: NXT) designs, engineers, and delivers an advanced energy technology platform for solar power plants, innovating across structural, electrical, and digital domains. Our integrated solutions are designed to streamline project execution, increase energy yield and long-term reliability, and enhance customer ROI. Building on over a decade of technology and market leadership, the company delivers intelligent power generation systems and services to meet rapidly expanding global electricity demand. Nextpower partners with the world’s leading energy companies to power what’s next. Learn more at www.nextpower.com. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation statements relating to the acquisition of Prevalon by Nextpower, future financial and operating results of Prevalon and Nextpower, including our outlook for fiscal year 2027 and beyond, the future demand for BESS, opportunities in the energy infrastructure market, and the benefits of the transaction and future opportunities for the combined company, including the benefits our customers may realize as a result of integrating Prevalon’s business into Nextpower. These forward-looking statements are only predictions, are based on various assumptions and on the current expectations of Nextpower’s management and may differ materially from actual results due to a variety of factors including but not limited to: our strategies, mission, plans, objectives and goals; the ability of Nextpower to successfully integrate Prevalon’s operations, products and employees; unexpected costs, charges or expenses resulting from the transaction; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the transaction; the market demand for our products, solutions and services and our ability to deliver them to customers; the retention of key employees, customers or suppliers; projections regarding the U.S. and global demand for electricity and solar power; our competitiveness and global market share; macro-economic trends; growth opportunities and plans for future operations; and legislative, regulatory and economic developments, including changing business conditions in our industry or markets overall and the economy in general. Other risks and uncertainties that could cause the actual results to differ materially from those anticipated by these forward-looking statements are also described under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Nextpower’s most recent Quarterly Report on Form 10-Q, Annual Report on Form 10-K and other documents that Nextpower has filed or will file with the Securities and Exchange Commission. There may be additional risks that Nextpower is not aware of or that Nextpower currently believes are immaterial that could also cause actual results to differ from the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Nextpower assumes no obligation to update these forward-looking statements. View source version on businesswire.com: https://www.businesswire.com/news/home/20260528147848/en/ Investor Relations Contact
Sarah Lee
Investor@nextpower.com Media Contact
Brandy Lee
Media@nextpower.com Original: Nextpower Announces Entry into Battery Energy Storage (BESS) and AI Data Center Markets with Definitive Agreement to Acquire Prevalon Energy, Increases Fiscal Year 2027 Outlook

Nextpower Reports Q4 and Fiscal Year 2026 Financial ResultsMay 12, 2026 4:05 PM
Business Wire Achieves Record FY26 Revenue and Earnings Raises FY27 Financial Outlook on Strong Execution and Bookings Nextpower™ (Nasdaq: NXT), a leading provider of intelligent power generation systems for solar power plants, today announced financial results for the fourth quarter and full year for fiscal year 2026, ended March 31, 2026. Financial Summary (In millions, except per share)   Q4 FY26 Q3 FY26 Q4 FY25 Revenue $881 $909 $924 GAAP Gross Profit $297 $288 $306 GAAP Gross Margin 33.8% 31.7% 33.1% GAAP Net Income $151 $131 $158 GAAP Net Income Margin 17.1% 14.4% 17.1% GAAP Diluted EPS $0.97 $0.85 $1.05         Adjusted Gross Profit $304 $295 $309 Adjusted Gross Margin 34.5% 32.4% 33.4% Adjusted EBITDA $202 $214 $242 Adjusted EBITDA Margin 22.9% 23.5% 26.2% Adjusted Net Income $162 $170 $193 Adjusted Diluted EPS $1.05 $1.10 $1.29 Q4 FY26, Q3 FY26, and Q4 FY25 results include approximately $47 million, $53 million, and $67 million, respectively, of IRA 45X advanced manufacturing tax credit vendor rebates and tariffs, net. Please refer to Nextpower’s most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K for more information on 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. Business Highlights Market and Sales Momentum Achieved record fiscal year revenue of $3.56 billion, an increase of 20% YoY, and increased backlog to a record level of over $5.25 billion Surpassed 160 GW of cumulative tracker shipments globally Increased bookings for new products and bundled solutions in Q4: Increased adoption for foundations, electrical balance of systems (eBOS), and robotics quarter over quarter Achieved record eBOS quarterly bookings, including bookings of over 100 MW of our new NX PowerMerge™ trunk bus connector Achieved record quarterly and annual TrueCapture™ revenue Booked the first bundled VCA project incorporating robotics Exceeded 50 GW of cumulative sales of NX Horizon-XTR™ terrain following trackers Entered into a multi-year gigawatt-scale steel frame supply agreement with Jinko Solar (U.S.) Industries Inc. for U.S.-manufactured steel module frames Surpassed 25 GW of tracker systems sales to date in each of Latam and MEIAT regions Products and Innovation Announced agreement to acquire key power conversion product lines and IP with a planned U.S. manufacturing footprint, subject to foreign direct investment (FDI) approval by the Spanish government NX PowerMerge, a next-generation DC power component designed to streamline eBOS installation and boost long-term reliability, currently in final stages of UL qualification testing Released Gen 3 of Nextpower’s SPC smart tracker controller and NCU weather station, providing enhanced cybersecurity Piloted NX One™, a unified software platform that connects and contextualizes data from across the plant lifecycle into a single system Introduced NX Anchor™ foundation technology, which, together with NX Earth Truss™, enables market leading NX Horizon® tracker to be installed across all soil conditions, now deployed at multi-gigawatt scale “Fiscal 2026 marked a defining inflection point for Nextpower as we accelerated our evolution from the solar tracker leader over the last decade to an integrated utility-scale energy technology platform,” said Dan Shugar, founder and CEO of Nextpower. “Our core tracker business remains very strong, supported by one of the highest booking quarters in our history and expanding market leadership. We are now seeing clear, measurable traction around our platform strategy, reflected in rising adoption across eBOS, foundations, and robotics solutions, early success in bundled deployments, and growing demand for new products such as NX PowerMerge.” Continued Shugar, “We announced this morning an agreement to acquire key power conversion product lines. When completed, we expect this transaction to help accelerate time to market and expand our power conversion product portfolio, enhance our domain expertise in our core solar business, and facilitate entry into the battery storage and data center verticals.” “We delivered strong financial performance in fiscal 2026, with 20% revenue growth, solid profitability, and meaningful cash generation, reflecting the strength of our operating model,” said Chuck Boynton, CFO of Nextpower. “During the year, we further strengthened our financial position, achieving an investment grade credit rating while continuing to invest in strategic growth initiatives aligned with our platform expansion.” Continued Boynton, “Supported by our growing backlog and strong bookings momentum, we are raising our fiscal 2027 outlook and remain focused on disciplined capital allocation, investing in a balance of organic growth and strategic acquisitions, returning capital to shareholders, while maintaining a strong balance sheet and delivering consistent, long-term shareholder value.” FY2027 Annual Outlook   Updated Outlook Previous Outlook Revenue $3.8 to $4.1 billion $3.6 to $3.8 billion GAAP Net Income $501 to $559 million   GAAP Diluted EPS $3.19 to $3.56   Adjusted EBITDA $825 to $900 million $800 to $900 million Adjusted Diluted EPS $4.21 to $4.59   Updated outlook includes planned incremental costs of approximately $50 million related to the acceleration of our entry into the power conversion market. Adjusted EBITDA range of $825 million to $900 million excludes approximately $195 million for stock-based compensation, net intangible amortization, and acquisition related costs. Adjusted Diluted EPS range of $4.21 to $4.59 excludes approximately $1.02 for stock-based compensation, net intangible amortization, and acquisition related costs, net of impacts for tax. Q4 FY2026 Earnings Call May 12, 2026
2:00 p.m. PT / 5:00 p.m. ET
Live webcast available on investors.nextpower.com We encourage you to review our Q4 FY26 Shareholder Letter, which, along with this press release, is available on the Nextpower Investor Relations website and includes important information for Nextpower shareholders that supplements and expands on the information in this press release. The webcast replay will be available on the Nextpower Investor Relations website following the conclusion of the event. About Nextpower Nextpower™ (Nasdaq: NXT) designs, engineers, and delivers an advanced energy technology platform for solar power plants, innovating across structural, electrical, and digital domains. Our integrated solutions are designed to streamline project execution, increase energy yield and long-term reliability, and enhance customer ROI. Building on over a decade of technology and market leadership, the company delivers intelligent power generation systems and services to meet rapidly expanding global electricity demand. Nextpower partners with the world’s leading energy companies to power what’s next. Learn more at www.nextpower.com. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation statements relating to the trends for energy demand and future solar adoption, the demand for our products (including our foundations, eBOS, NX PowerMerge and robotics solutions, our other products and our bundled solutions), the ability to grow our core tracker business, the benefits from our steel frame supply agreement, our bookings and backlog, including our ability to convert our backlog into revenue, our competitiveness and global market share, benefits of the proposed acquisition of power conversion assets and other recent acquisitions (including the benefits our customers may realize as a result of integrating these businesses and assets into Nextpower’s), the benefits of UL certification for NX PowerMerge, the impacts to our business caused by the U.S. policy environment, and statements regarding our outlook for fiscal year 2027 and other periods. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including but not limited to: our strategies, mission, plans, objectives and goals; failure to receive approval from the Spanish government for the planned acquisition of power conversion assets; the market demand for our products, solutions and services and our ability to deliver them to customers; projections regarding the U.S. and global demand for electricity and solar power; our competitiveness and global market share; macro-economic trends; growth opportunities and plans for future operations; changing business conditions in our industry and markets overall; legislative, regulatory and economic developments; and our ability to maintain our investment grade credit rating. These forward-looking statements are based on various assumptions and on the current expectations of Nextpower’s management. These statements involve risks and uncertainties that could cause the actual results to differ materially from those anticipated by these forward-looking statements, including risks and uncertainties that are also described under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Nextpower’s most recent Quarterly Report on Form 10-Q, Annual Report on Form 10-K and other documents that Nextpower has filed or will file with the Securities and Exchange Commission. There may be additional risks that Nextpower is not aware of or that Nextpower currently believes are immaterial that could also cause actual results to differ from these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Nextpower assumes no obligation to update these forward-looking statements. Use of Adjusted Financial Information An explanation and reconciliation of non-GAAP financial measures to GAAP financial measures is presented in Schedules III, IV and V attached to this press release, and can be found, along with other financial information including the Earnings Presentation, on the investor relations section of our website at investors.nextpower.com. Channels for Disclosure of Information Nextpower intends to announce material information to the public through the Nextpower Investor Relations website investors.nextpower.com, SEC filings, press releases, public conference calls, and public webcasts. Nextpower uses these channels to communicate with its investors, customers, and the public about the company, its offerings, and other issues. As such, Nextpower encourages investors, the media, and others to follow the channels listed above and to review the information disclosed through such channels. Schedule I   Nextpower Inc. Unaudited condensed consolidated statements of operations (In thousands, except per share data)     Three-month periods ended   March 31, 2026   December 31, 2025   March 31, 2025 Revenue $ 880,517     $ 909,352     $ 924,342   Cost of sales   583,140       621,220       618,655   Gross profit   297,377       288,132       305,687   Selling, general and administrative expenses   100,625       82,733       86,794   Research and development   43,166       29,294       23,586   Operating income   153,586       176,105       195,307   Interest expense   338       339       2,353   Other income, net   (6,387 )     (4,733 )     (5,708 ) Income before income taxes   159,635       180,499       198,662   Provision for income taxes   9,032       49,263       40,848   Net income   150,603       131,236       157,814   Less: Net income attributable to non-controlling interests   —       —       1,020   Net income attributable to Nextpower Inc. $ 150,603     $ 131,236     $ 156,794               Earnings per share attributable to Nextpower Inc. common stockholders           Basic $ 1.01     $ 0.88     $ 1.08   Diluted $ 0.97     $ 0.85     $ 1.05   Weighted-average shares used in computing per share amounts:           Basic   148,496       148,414       144,888   Diluted   154,664       153,921       149,740     Nextpower Inc. Unaudited condensed consolidated statements of operations (continued) (In thousands, except per share data)     Twelve-month periods ended   March 31, 2026   March 31, 2025 Revenue $ 3,559,390     $ 2,959,197   Cost of sales   2,399,295       1,950,372   Gross profit   1,160,095       1,008,825   Selling, general and administrative expenses   341,920       290,321   Research and development   120,909       79,392   Operating income   697,266       639,112   Interest expense   2,623       13,096   Other income, net   (19,183 )     (22,000 ) Income before income taxes   713,826       648,016   Provision for income taxes   127,943       130,770   Net income and comprehensive income   585,883       517,246   Less: Net income attributable to non-controlling interests   —       8,078   Net income attributable to Nextpower Inc. $ 585,883     $ 509,168           Earnings per share attributable to Nextpower Inc. common stockholders       Basic $ 3.96     $ 3.55   Diluted $ 3.84     $ 3.47   Weighted-average shares used in computing per share amounts:       Basic   147,976       143,539   Diluted   152,710       149,276     Schedule II   Nextpower Inc. Unaudited condensed consolidated balance sheets (In thousands)     As of March 31, 2026   As of March 31, 2025 ASSETS Current assets:       Cash and cash equivalents $ 1,094,976   $ 766,103 Accounts receivable, net of allowance of $2,078 and $1,472, respectively   417,043     472,462 Contract assets   533,257     405,890 Inventories   262,276     209,432 Section 45X credit receivable   352,598     215,616 Other current assets   186,406     88,483 Total current assets   2,846,556     2,157,986 Property and equipment, net   78,356     60,395 Goodwill   488,950     371,018 Other intangible assets, net   78,046     53,241 Deferred tax assets   511,815     498,778 Other assets   69,489     51,098 Total assets $ 4,073,212   $ 3,192,516 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities:       Accounts payable $ 533,490   $ 585,299 Accrued expenses   130,133     97,000 Deferred revenue   307,492     247,127 Other current liabilities   192,747     104,086 Total current liabilities   1,163,862     1,033,512 Tax receivable agreement (TRA) liability   372,659     394,879 Long-term deferred revenue   102,493     96,635 Other liabilities   99,801     39,360 Total liabilities   1,738,815     1,564,386 Total stockholders’ equity   2,334,397     1,628,130 Total liabilities and stockholders’ equity $ 4,073,212   $ 3,192,516   Schedule III   Nextpower Inc. Unaudited condensed consolidated statements of cash flows (In thousands)     Twelve-month periods ended   March 31, 2026   March 31, 2025 Cash flows from operating activities:       Net income $ 585,883     $ 517,246   Depreciation and amortization of intangible assets   30,602       13,407   Changes in working capital and other, net   (58,039 )     125,141   Net cash provided by operating activities   558,446       655,794   Cash flows from investing activities:       Payment for business acquisitions, net of cash acquired   (117,162 )     (144,675 ) Purchases of property and equipment   (44,812 )     (33,921 ) Purchase of equity method investment   (12,177 )     —   Other investing activities   (8,262 )     (7,500 ) Net cash used in investing activities   (182,413 )     (186,096 ) Cash flows from financing activities:       Repayment of bank borrowings   —       (150,000 ) Payment of revolver issuance costs   (1,993 )     (6,017 ) TRA payment   (27,427 )     (15,520 ) Distribution to former non-controlling interest holder   (3,010 )     (6,112 ) Payment of acquisition deferred purchase price   (14,335 )     —   Repurchase of common stock   (395 )     —   Net cash used in financing activities   (47,160 )     (177,649 ) Net increase in cash and cash equivalents   328,873       292,049   Cash and cash equivalents beginning of period   766,103       474,054   Cash and cash equivalents end of period $ 1,094,976     $ 766,103     Twelve-month periods ended Adjusted free cash flow March 31, 2026   March 31, 2025 Net cash provided by operating activities $ 558,446     $ 655,794   Purchases of property and equipment   (44,812 )     (33,921 ) Adjusted free cash flow $ 513,634     $ 621,873     Schedule IV   Nextpower Inc. Reconciliation of GAAP to Non-GAAP financial measures (In thousands, except percentages and per share data)     Three-month periods ended   March 31, 2026   December 31, 2025   March 31, 2025 GAAP gross profit & margin $ 297,377     33.8 %   $ 288,132     31.7 %   $ 305,687     33.1 % Stock-based compensation expense   4,530           4,851           2,582       Intangible amortization   1,958           1,976           880       Adjusted gross profit & margin $ 303,865     34.5 %   $ 294,959     32.4 %   $ 309,149     33.4 %                         GAAP operating income & margin $ 153,586     17.4 %   $ 176,105     19.4 %   $ 195,307     21.1 % Stock-based compensation expense   32,480           33,855           40,114       Intangible amortization   3,718           3,272           1,780       Acquisition related costs   6,276           398           643       Adjusted operating income & margin $ 196,060     22.3 %   $ 213,630     23.5 %   $ 237,844     25.7 %                         GAAP net income & margin $ 150,603     17.1 %   $ 131,236     14.4 %   $ 157,814     17.1 % Stock-based compensation expense   32,480           33,855           40,114       Intangible amortization   3,718           3,272           1,780       Adjustment for taxes   (32,719 )         857           (6,980 )     Acquisition related costs   6,276           398           643       Other   1,385           —           —       Adjusted net income & margin $ 161,743     18.4 %   $ 169,618     18.7 %   $ 193,371     20.9 %                         GAAP net income & margin $ 150,603     17.1 %   $ 131,236     14.4 %   $ 157,814     17.1 % Interest, net   (8,679 )         (9,565 )         (6,544 )     Provision for income taxes   9,032           49,263           40,848       Depreciation expense   5,298           5,164           3,328       Intangible amortization   3,718           3,272           1,780       Stock-based compensation expense   32,480           33,855           40,114       Acquisition related costs   6,276           398           643       Other tax related loss, net   1,254           —           4,514       Other   1,817           —           —       Adjusted EBITDA & margin $ 201,799     22.9 %   $ 213,623     23.5 %   $ 242,497     26.2 %                         Diluted earnings per share                       GAAP diluted earnings per share $ 0.97         $ 0.85         $ 1.05       Earnings per share attributable to Non-GAAP adjustments   0.08           0.25           0.24       Adjusted diluted earnings per share $ 1.05         $ 1.10         $ 1.29                               Diluted shares used in computing per share amounts   154,664           153,921           149,740         Nextpower Inc. Reconciliation of GAAP to Non-GAAP financial measures (continued) (In thousands, except percentages and per share data)     Twelve-month periods ended   March 31, 2026   March 31, 2025 GAAP gross profit & margin $ 1,160,095     32.6 %   $ 1,008,825     34.1 % Stock-based compensation expense   16,696           11,927       Intangible amortization   6,742           2,744       Adjusted gross profit & margin $ 1,183,533     33.3 %   $ 1,023,496     34.6 %                 GAAP operating income & margin $ 697,266     19.6 %   $ 639,112     21.6 % Stock-based compensation expense   120,298           118,880       Intangible amortization   11,967           5,523       Acquisition related costs   10,330           5,338       Adjusted operating income & margin $ 839,861     23.6 %   $ 768,853     26.0 %                 GAAP net income & margin $ 585,883     16.5 %   $ 517,246     17.5 % Stock-based compensation expense   120,298           118,880       Intangible amortization   11,967           5,523       Adjustment for taxes   (42,411 )         (16,348 )     Acquisition related costs   10,330           5,338       Other   1,385           —       Adjusted net income & margin $ 687,452     19.3 %   $ 630,639     21.3 %                 GAAP net income & margin $ 585,883     16.5 %   $ 517,246     17.5 % Interest, net   (29,526 )         (9,246 )     Debt extinguishment cost   5,121           —       Provision for income taxes   127,943           130,770       Depreciation expense   18,635           7,884       Intangible amortization   11,967           5,523       Stock-based compensation expense   120,298           118,880       Acquisition related costs   10,330           5,338       Other tax related loss, net   1,254           101       Other   1,817           —       Adjusted EBITDA & margin $ 853,722     24.0 %   $ 776,496     26.2 %                 Diluted earnings per share               GAAP diluted earnings per share $ 3.84         $ 3.47       Earnings per share attributable to Non-GAAP adjustments   0.66           0.75       Adjusted diluted earnings per share $ 4.50         $ 4.22                       Diluted shares used in computing per share amounts   152,710           149,276         See the accompanying notes on Schedule V attached to this press release   Schedule V Nextpower Inc.
Notes To supplement Nextpower’s unaudited selected financial data presented consistent with U.S. Generally Accepted Accounting Principles (“GAAP”), the Company discloses certain non-GAAP financial measures that exclude certain charges and gains, including adjusted earnings before interest, taxes, depreciation, and amortization (“Adjusted EBITDA”), adjusted EBITDA margin, adjusted gross profit, adjusted gross margin, adjusted operating income, adjusted operating margin, adjusted net income, adjusted net income margin, adjusted diluted earnings per share, and adjusted free cash flow. These supplemental measures exclude certain legal and other charges, stock-based compensation expense and intangible amortization, other discrete events as applicable and the related tax effects. These non-GAAP measures are not in accordance with or an alternative for GAAP and may be different from non-GAAP measures used by other companies. We believe that these non-GAAP measures have limitations in that they do not reflect all the amounts associated with Nextpower’s results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Nextpower’s results of operations in conjunction with the corresponding GAAP measures. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the most directly comparable GAAP measures. We compensate for the limitations of non-GAAP financial measures by relying upon GAAP results to gain a complete picture of the Company’s performance. In calculating non-GAAP financial measures, we exclude certain items to facilitate a review of the comparability of the Company’s operating performance on a period-to-period basis because such items are not, in our view, related to the Company’s ongoing operational performance. We use non-GAAP measures to evaluate the operating performance of our business, for comparison with forecasts and strategic plans, for calculating return on investment, and for benchmarking performance externally against competitors. In addition, management’s incentive compensation is determined using certain non-GAAP measures. Since we find these measures to be useful, we believe that investors benefit from seeing results “through the eyes” of management in addition to seeing GAAP results. We believe that these non-GAAP measures, when read in conjunction with the Company’s GAAP financials, provide useful information to investors by offering: the ability to make more meaningful period-to-period comparisons of the Company’s ongoing operating results; the ability to better identify trends in the Company’s underlying business and perform related trend analysis; a better understanding of how management plans and measures the Company’s underlying business; and an easier way to compare the Company’s operating results against analyst financial models and operating results of competitors that supplement their GAAP results with non-GAAP financial measures. The following are explanations of each of the adjustments that we incorporate into non-GAAP measures, as well as the reasons for excluding each of these individual items in the reconciliations of these non-GAAP financial measures: Stock-based compensation expense consists of non-cash charges for the estimated fair value of unvested restricted share unit and stock option awards granted to employees. The Company believes that the exclusion of these charges provides for more accurate comparisons of its operating results to peer companies due to the varying available valuation methodologies, subjective assumptions, and the variety of award types. In addition, the Company believes it is useful to investors to understand the specific impact stock-based compensation expense has on its operating results. Intangible amortization consists primarily of non-cash charges that can be impacted by, among other things, the timing and magnitude of acquisitions. The Company considers its operating results without these charges when evaluating its ongoing performance and forecasting its earnings trends, and therefore excludes such charges when presenting non-GAAP financial measures. The Company believes that the assessment of its operations excluding these costs is relevant to its assessment of internal operations and comparisons to the performance of its competitors. Acquisition costs consist primarily of nonrecurring transaction costs, including integration and diligence activities on new and potential business acquisitions. Adjustment for taxes relates to the tax effects of the various adjustments that we incorporate into non-GAAP measures to provide a more meaningful measure on non-GAAP net income and certain adjustments related to non-recurring settlements of tax contingencies or other non-recurring tax charges, when applicable. Debt extinguishment cost consists of nonrecurring costs for the termination of our prior credit agreement related to the revolver credit facilities originally entered into on February 13, 2023. Other includes an immaterial amount of non-cash equity in loss for the Nextpower Arabia joint venture which is accounted for under the equity method investment accounting. View source version on businesswire.com: https://www.businesswire.com/news/home/20260512915289/en/ Investor Contact:
Sarah Lee
Investor@nextpower.com Media Contact:
Brandy Lee
Media@nextpower.com Original: Nextpower Reports Q4 and Fiscal Year 2026 Financial Results

Nextpower to Announce Fourth Quarter Fiscal 2026 and Full-Year Financial Results on May 12, 2026April 21, 2026 4:05 PM
Business Wire
Nextpower (Nasdaq: NXT) will announce its fourth quarter fiscal 2026 and full-year financial results after the market closes on Tuesday, May 12, 2026. The company will hold a conference call to discuss the results on the same day at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time).


Q4 FY2026 Earnings Call

May 12, 2026

2:00 p.m. PT / 5:00 p.m. ET

Live webcast available on investors.nextpower.com


The webcast replay, along with supporting materials, will be available on the Nextpower IR website following the conclusion of the event.


About Nextpower


Nextpower™ (Nasdaq: NXT) designs, engineers, and delivers an advanced energy technology platform for solar power plants, innovating across structural, electrical, and digital domains. Our integrated solutions are designed to streamline project execution, increase energy yield and long-term reliability, and enhance customer ROI. Building on over a decade of technology and market leadership, the company delivers intelligent power generation systems and services to meet rapidly expanding global electricity demand. Nextpower partners with the world’s leading energy companies to power what’s next. Learn more at www.nextpower.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260421701402/en/
Investor Contact:

Sarah Lee

Investor@nextracker.com


Media Contact:

Brandy Lee

Media@nextracker.com


Original: Nextpower to Announce Fourth Quarter Fiscal 2026 and Full-Year Financial Results on May 12, 2026

Nextpower Advances Measurable Climate Leadership with SBTi-Validated Emissions TargetsMarch 10, 2026 9:05 AM
Business Wire
Nextpower™ (NASDAQ: NXT), a leading provider of intelligent power generation technology and solutions for solar power plants, today announced the validation of its near-term carbon emissions reduction targets by the Science Based Targets initiative (SBTi), a coalition of CDP, the United Nations Global Compact, World Resources Institute, and the World Wide Fund for Nature.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260310867869/en/
Under its validated SBTi targets, the company commits to reduce absolute Scope 1 and Scope 2 greenhouse gas emissions by 58.8% by fiscal year 2035 from a FY25 baseline, and to reduce Scope 3 emissions intensity per megawatt of solar trackers deployed by 63.8% over the same period.


“Over the past several years, we have strengthened our global supply chains, expanded domestic manufacturing in key markets, and launched new product innovations such as the NX Horizon® low carbon tracker,” said Dan Shugar, founder and CEO. “These actions are delivering carbon improvements while creating additional value for our customers. The SBTi validation is another important milestone for our company and reinforces our strategy and the progress we are making.”


In recent years, Nextpower has optimized regional supply chains and increased adoption of lower-carbon electric arc furnace (EAF) steel. The NX Horizon low carbon tracker solution now reduces embodied carbon emissions by up to 42% compared to traditional trackers, supported by third-party verified lifecycle assessments.


The SBTi validation follows Nextpower’s formal establishment of its ESG program in 2024 and its recent upgrade to “Prime” status in the ISS Corporate ESG rating in Q3 FY26. Together, these independent evaluations strengthen the company’s competitive position in global markets where ESG performance is an increasingly important consideration for investors and customers.


To learn more about Nextpower’s global sustainability initiatives, read the fiscal year 2025 Sustainability Report, or visit nextpower.com/sustainability.


About Nextpower (formerly Nextracker)


Nextpower™ (Nasdaq: NXT) designs, engineers, and delivers an advanced energy technology platform for solar power plants, innovating across structural, electrical, and digital domains. Our integrated solutions are designed to streamline project execution, increase energy yield and long-term reliability, and enhance customer ROI. Building on over a decade of technology and market leadership, the company delivers intelligent power generation systems and services to meet rapidly expanding global electricity demand. Nextpower partners with the world’s leading energy companies to power what’s next. Learn more at www.nextpower.com.


Forward-Looking Statements


This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including: statements regarding the potential benefits from the SBTi validation; statements regarding Nextpower’s commitment to SBTi targets and emissions reductions; statements regarding carbon improvements and value creation for customers; and statements concerning Nextpowers’s optimized regional supply chain. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including, but not limited to: the market demand for products, solutions and services; the benefits our customers and the market places on such validation, including the value placed on the reduction in emissions; projections regarding the global demand for electricity and solar power; macro-economic trends; and legislative, regulatory and economic developments, including changing business conditions in our industry or markets overall and the economy in general. These statements involve risks and uncertainties that could cause the actual results to differ materially from those anticipated by these forward-looking statements, including risks and uncertainties that are also described under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Nextpower’s most recent Quarterly Report on Form 10-Q, Annual Report on Form 10-K and other documents that Nextpower has filed or will file with the Securities and Exchange Commission. There may be additional risks that Nextpower is not aware of or that Nextpower currently believes are immaterial that could also cause actual results to differ from these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Nextpower assumes no obligation to update these forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260310867869/en/
Investor Relations Contact

Sarah Lee

Investor@nextpower.com


Media Contacts

Brandy Lee

Media@nextpower.com


Original: Nextpower Advances Measurable Climate Leadership with SBTi-Validated Emissions Targets

Nextpower Enters Multi-Year Gigawatt-Scale Steel Frame Supply Agreement with Jinko Solar (U.S.) Industries Inc. for Advanced Solar ModulesFebruary 17, 2026 9:05 AM
Business Wire
Company Plans to Expand Steel Frames Manufacturing Capacity in the Southeast U.S.


Nextpower™ (NASDAQ: NXT), a leading provider of intelligent power generation technology and solutions for solar power plants, today announced its second major commercial order for U.S.-manufactured steel module frames, entering into a multi-year supply agreement with Jinko Solar (U.S.) Industries Inc. (NYSE: JKS), one of the longest operating solar module manufacturers in the United States.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260217543196/en/
Under the agreement, Nextpower plans to supply more than one gigawatt (GW) of steel frames, scalable to up to 3 GW over a three-year period, to support module manufacturing in Jinko Solar’s Jacksonville, Fla. facility, with production expected mid-2026. This supply arrangement helps underscore the growing market adoption of steel frames as a more structurally durable, cost-effective solution for tier-one solar modules while further localizing the U.S. supply chain.


For developers, U.S.-made steel frames add six percent to a tracker project’s domestic content calculation, according to U.S. Treasury Department guidance.


“Arevon is excited about Nextpower’s introduction of advanced solar module frames that enhance module durability and are designed and manufactured in the USA,” said Justin Johnson, COO of Arevon, a utility-scale solar developer. “Nextpower’s focus on component and system reliability is greatly welcomed for solar projects, especially in areas of extreme weather.”


“This agreement with Jinko Solar represents clear market validation of steel frames as a reliable and cost-effective solution that supports both module durability and U.S. manufacturing priorities,” said Dan Shugar, founder and CEO of Nextpower. “It also reinforces how the U.S. solar industry is industrializing, aligning domestic manufacturing, policy incentives, and proven technology at gigawatt scale.”


To simplify project logistics and reinforce the domestic supply chain, Nextpower plans to further expand its steel frame manufacturing presence in the Southeastern United States to enable direct supply to the Jinko Solar U.S. facility in Jacksonville. This strategy follows Nextpower’s recent expansion of its steel component manufacturing capacity in Memphis – one of more than 25 U.S. factories Nextpower has opened or expanded since 2021.


“Improving module durability and strengthening domestic supply chains are closely linked priorities and areas where Jinko Solar has long been a leader,” said Nigel Cockroft, General Manager at Jinko Solar (U.S.) Industries Inc. “From our fourth generation extreme weather module platform to our Jacksonville facility, which has operated since 2018, we have consistently invested ahead of the market. Partnering with Nextpower to integrate domestically produced steel frames into our U.S. modules is a natural extension of that leadership, aligning with U.S. manufacturing priorities, while delivering greater durability at scale for customers and the broader solar industry.”


Industry-wide reliability data is increasingly shaping procurement decisions for utility-scale solar projects. Independent testing has demonstrated the structural advantages of steel frames, including improved torsional stiffness and reduced deflection under mechanical load—key factors in supporting long-term module reliability.


Nextpower Advanced Frames at Intersolar North America 2026


For sales queries, or to meet with a Nextpower steel frame technology expert at Intersolar Solar North America (San Diego, February 18-20, 2026), contact insidesales@nextpower.com. You can also see Nextpower’s steel frame technology on display this week at the Jinko Solar booth #3017 on the show floor.


About Nextpower (formerly Nextracker)


Nextpower™ (Nasdaq: NXT) designs, engineers, and delivers an advanced energy technology platform for solar power plants, innovating across structural, electrical, and digital domains. Our integrated solutions are designed to streamline project execution, increase energy yield and long-term reliability, and enhance customer ROI. Building on over a decade of technology and market leadership, the company delivers intelligent power generation systems and services to meet rapidly expanding global electricity demand. Nextpower partners with the world’s leading energy companies to power what’s next. Learn more at www.nextpower.com.


Forward-Looking Statements


This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including: statements regarding the potential benefits from the steel frame supply agreement; statements regarding the potential amount of steel frames to be delivered under the supply agreement; statements regarding the market adoption, durability, reliability and cost effectiveness of steel frames; statements regarding the ability for steel frames to support module durability and domestic content; and statements regarding Nextpower’s ability under the steel frame supply agreement to meet project-specific structural and economic requirements. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including, but not limited to: the market demand for products, solutions and services; unexpected costs, charges or expenses resulting from the steel frame supply agreement; potential adverse reactions or changes to business relationships resulting from the announcement; projections regarding the global demand for electricity and solar power; macro-economic trends; and legislative, regulatory and economic developments, including changing business conditions in our industry or markets overall and the economy in general. These statements involve risks and uncertainties that could cause the actual results to differ materially from those anticipated by these forward-looking statements, including risks and uncertainties that are also described under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Nextpower’s most recent Quarterly Report on Form 10-Q, Annual Report on Form 10-K and other documents that Nextpower has filed or will file with the Securities and Exchange Commission. There may be additional risks that Nextpower is not aware of or that Nextpower currently believes are immaterial that could also cause actual results to differ from these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Nextpower assumes no obligation to update these forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260217543196/en/
Media Contacts

Alex Peterson

Tigercomm (on behalf of Nextpower)

alex@tigercomm.us

+1.203.313.7699


Brandy Lee

+1.408.930.6186

Media@nextpower.com


Investor Relations Contact

Sarah Lee

Investor@nextpower.com


Original: Nextpower Enters Multi-Year Gigawatt-Scale Steel Frame Supply Agreement with Jinko Solar (U.S.) Industries Inc. for Advanced Solar Modules

Nextpower Reports Third Quarter Fiscal Year 2026 Financial ResultsJanuary 27, 2026 9:05 PM
Business Wire
Raises FY26 Financial Outlook on Strong Execution and Bookings


Achieves Investment Grade Rating, Announces Share Buyback Program


Nextpower (Nasdaq: NXT, formerly Nextracker), a leading provider of intelligent power generation systems for solar power plants, today announced financial results for the third quarter of fiscal year 2026, ended December 31, 2025.




Financial Summary




(In millions, except per share)










 



 






Q3 FY26






Q2 FY26






Q3 FY25








Revenue






$909






$905






$679








GAAP Gross Profit






$288






$293






$241








GAAP Gross Margin






31.7 %






32.4 %






35.5 %








GAAP Net Income






$131






$147






$117








GAAP Net Income Margin






14.4 %






16.2 %






17.3 %








GAAP Diluted EPS






$0.85






$0.97






$0.79








 






 






 






 








Adjusted Gross Profit






$295






$300






$245








Adjusted Gross Margin






32.4 %






33.1 %






36.0 %








Adjusted EBITDA






$214






$224






$186








Adjusted EBITDA Margin






23.5 %






24.7 %






27.4 %








Adjusted Net Income






$170






$181






$154








Adjusted Diluted EPS






$1.10






$1.19






$1.03







Q3 FY26, Q2 FY26, and Q3 FY25 results include approximately $53 million, $67 million, and $48 million, respectively, of IRA 45X advanced manufacturing tax credit vendor rebates and tariffs, net.


Please refer to Nextpower’s most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K for more information 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.


Third Quarter Fiscal Year 2026 Financial Highlights:



Revenue of $909 million, up 34% YoY



GAAP gross profit of $288 million, up 20% YoY and GAAP operating income of $176 million, up 17% YoY



Adjusted gross profit of $295 million, up 20% YoY and adjusted EBITDA of $214 million, up 15% YoY



Operating cash flow of $391 million YTD with $953 million of cash and cash equivalents at the end of the quarter and no debt



Achieved an investment grade credit rating from Fitch, reflecting strong cash flow generation, disciplined financial management, and balance sheet strength



Authorized a share repurchase program for repurchase of up to $500 million of common stock over a three-year period



Business Highlights:



Corporate Updates


Rebranded the company to Nextpower at our inaugural Capital Markets Day, reflecting our evolution from a pure-play tracking systems supplier to an end-to-end solar technology platform



Expanded U.S. operations, opening our Southeast operations hub featuring a new Remote Monitoring Center, and grew domestic tracker manufacturing capacity



Achieved upgraded ISS Corporate ESG rating to Prime status, recognizing performance that meets or exceeds ISS STOXX’s sustainability requirements and above industry average







Market Momentum


Achieved record backlog, driven by strength in the U.S. and record bookings in Europe, and expanded our global footprint further in two new countries



Launched NX Earth TrussTM in Australia, marking an important step in the international expansion of our technology platform



Completed the formation of our Nextpower Arabia joint venture in January 2026 that addresses the rapidly growing utility-scale solar market in the Middle East and North Africa (MENA) region



Secured a 2.25 GW supply commitment for advanced solar tracking systems through Nextpower Arabia for the Bisha Solar Project, one of the world’s largest utility-scale solar power plants







Products and Innovation


Increased bookings for bundled offers, including a 552 MW project in Cold Creek, Texas, incorporating NX Horizon Hail ProTM tracker systems, eBOS, NX Earth Truss, and TrueCapture® into a cohesive integrated solution



Announced an innovative power conversion solutions roadmap for utility-scale solar and energy storage systems



Acquired Fracsun, a differentiated panel soiling measurement and SaaS platform enabling end-to-end, real-time soiling monitoring and robotic cleaning solutions to further enhance customer returns






“Customer response to our expanding product offerings and rebrand has been very favorable,” said Dan Shugar, founder and CEO of Nextpower. “We delivered solid financial performance in our first quarter as Nextpower, with strong demand across our business lines and a record backlog. The demand environment remains robust in the U.S. and other global markets, and we’re very excited about the potential of our new joint venture Nextpower Arabia for the MENA region.”


“Our strong financial performance and disciplined capital allocation continue to strengthen Nextpower’s financial position,” said Chuck Boynton, chief financial officer of Nextpower. “We achieved an investment grade credit rating and announced a share repurchase program with authorization for repurchase of up to $500 million of our common stock over three years, reflecting confidence in our cash flow generation and balance sheet strength. Supported by the strength of our bookings and execution, we are raising our FY26 outlook.”


Share Repurchase Program:


As we announced in our current report on Form 8-K today, our board of directors approved a share repurchase program to repurchase up to an aggregate of $500 million of Nextpower’s outstanding shares of Class A common stock.


The share repurchase program has a term of three years and may be modified, suspended, or terminated at any time. The number of shares to be repurchased and the timing of repurchases will be determined by the company in its discretion and will depend on a number of factors, including, but not limited to, stock price, trading volume, and general market conditions, along with Nextpower’s working capital requirements, general business conditions, and other factors. The execution of the share repurchase program will depend on the market price of our common stock and other factors, and there can be no assurance that any shares will be purchased under the share repurchase program.




FY2026 Annual Outlook




Raised FY26 revenue and profitability ranges









 



 






Updated Outlook






Previous Outlook








Revenue






$3.425 to $3.500 billion






$3.275 to $3.475 billion








GAAP Net Income






$525 to $540 million






$499 to $529 million








GAAP Diluted EPS






$3.43 to $3.53






$3.26 to $3.46








Adjusted EBITDA






$810 to $830 million






$775 to $815 million








Adjusted Diluted EPS






$4.26 to $4.36






$4.04 to $4.25







Adjusted EBITDA range of $810 million to $830 million excludes approximately $142 million for stock-based compensation, acquisition related costs, and net intangible amortization.


Adjusted Diluted EPS range of $4.26 to $4.36 excludes approximately $0.83 for stock-based compensation, acquisition related costs, and net intangible amortization, net of impacts for tax.


Our outlook assumes the current U.S. policy environment remains intact, and in addition, that permitting processes and timelines will remain consistent with historical levels. We are monitoring potential regulatory actions which could impact project timing, investment decisions and our financial results.


Q3 FY26 Earnings Call


January 27, 2026

2:00 p.m. PT / 5:00 p.m. ET

Live webcast available on investors.nextpower.com


We encourage you to review our Q3 FY26 Shareholder Letter, which, along with this press release, is available on the Nextpower Investor Relations website and includes important information for Nextpower shareholders that supplements and expands on the information in this press release.


The webcast replay will be available on the Nextpower Investor Relations website following the conclusion of the event.


About Nextpower


NextpowerTM (Nasdaq: NXT, formerly Nextracker) designs, engineers, and delivers an advanced energy technology platform for solar power plants, innovating across structural, electrical, and digital domains. Our integrated solutions are designed to streamline project execution, increase energy yield and long-term reliability, and enhance customer ROI. Building on over a decade of technology and market leadership, the company delivers intelligent power generation systems and services to meet rapidly expanding global electricity demand. Nextpower partners with the world’s leading energy companies to power what’s next. Learn more at www.nextpower.com.


Forward-Looking Statements


This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation statements relating to the trends for energy demand and future solar adoption, benefits of our recent acquisitions (including the benefits our customers may realize as a result of integrating these businesses into Nextpower’s), the demand for our products (including our eBOS solutions, our other products and our bundled solutions), our bookings and backlog, including our ability to convert our backlog into revenue, the anticipated benefits of our joint venture and expansion of our operations in the Middle East and North Africa markets, our competitiveness and global market share, the impacts to our business caused by the U.S. policy environment, the anticipated benefits from our share repurchase program and Nextpower’s outlook for fiscal year 2026 and other periods. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including but not limited to: our strategies, mission, plans, objectives and goals; the market demand for our products, solutions and services and our ability to deliver them to customers; projections regarding the U.S. and global demand for electricity and solar power; our competitiveness and global market share; macro-economic trends; growth opportunities and plans for future operations; changing business conditions in our industry and markets overall; legislative, regulatory and economic developments; and our ability to maintain our investment grade credit rating; and whether, to what extent, and when Nextpower will make any repurchases of its common stock under its share repurchase program. These forward-looking statements are based on various assumptions and on the current expectations of Nextpower’s management. These statements involve risks and uncertainties that could cause the actual results to differ materially from those anticipated by these forward-looking statements, including risks and uncertainties that are also described under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Nextpower’s most recent Quarterly Report on Form 10-Q, Annual Report on Form 10-K and other documents that Nextpower has filed or will file with the Securities and Exchange Commission. There may be additional risks that Nextpower is not aware of or that Nextpower currently believes are immaterial that could also cause actual results to differ from these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Nextpower assumes no obligation to update these forward-looking statements.


Use of Adjusted Financial Information


An explanation and reconciliation of non-GAAP financial measures to GAAP financial measures is presented in Schedules III, IV and V attached to this press release, and can be found, along with other financial information including the Earnings Presentation, on the investor relations section of our website at investors.nextpower.com.


Channels for Disclosure of Information


Nextpower intends to announce material information to the public through the Nextpower Investor Relations website, investors.nextpower.com, SEC filings, press releases, public conference calls, and public webcasts. Nextpower uses these channels to communicate with its investors, customers, and the public about the company, its offerings, and other issues. As such, Nextpower encourages investors, the media, and others to follow the channels listed above and to review the information disclosed through such channels.


 




Schedule I








Nextpower Inc.




Unaudited condensed consolidated statements of operations




(In thousands, except per share data)








 



 






Three-month periods ended








 






December 31, 2025






 






September 26, 2025






 






December 31, 2024








Revenue






$






909,352






 






 






$






905,268






 






 






$






679,363






 








Cost of sales






 






621,220






 






 






 






612,408






 






 






 






438,460






 








Gross profit






 






288,132






 






 






 






292,860






 






 






 






240,903






 








Selling, general and administrative expenses






 






82,733






 






 






 






84,626






 






 






 






70,573






 








Research and development






 






29,294






 






 






 






26,889






 






 






 






20,094






 








Operating income






 






176,105






 






 






 






181,345






 






 






 






150,236






 








Interest expense






 






339






 






 






 






730






 






 






 






3,798






 








Other income, net






 






(4,733






)






 






 






(2,110






)






 






 






(13,778






)








Income before income taxes






 






180,499






 






 






 






182,725






 






 






 






160,216






 








Provision for income taxes






 






49,263






 






 






 






35,864






 






 






 






42,842






 








Net income






 






131,236






 






 






 






146,861






 






 






 






117,374






 








Less: Net income attributable to non-controlling interests






 






—






 






 






 






—






 






 






 






2,091






 








Net income attributable to Nextpower Inc.






$






131,236






 






 






$






146,861






 






 






$






115,283






 








 






 






 






 






 






 








Earnings per share attributable to Nextpower Inc. common stockholders






 






 






 






 






 








Basic






$






0.88






 






 






$






0.99






 






 






$






0.80






 








Diluted






$






0.85






 






 






$






0.97






 






 






$






0.79






 








Weighted-average shares used in computing per share amounts:






 






 






 






 






 








Basic






 






148,414






 






 






 






148,028






 






 






 






143,664






 








Diluted






 






153,921






 






 






 






152,018






 






 






 






149,028






 












 




Nextpower Inc.




Unaudited condensed consolidated statements of operations (continued)




(In thousands, except per share data)








 



 






Nine-month periods ended








 






December 31, 2025






 






December 31, 2024








Revenue






$






2,678,873






 






 






$






2,034,855






 








Cost of sales






 






1,816,155






 






 






 






1,331,717






 








Gross profit






 






862,718






 






 






 






703,138






 








Selling, general and administrative expenses






 






241,295






 






 






 






203,527






 








Research and development






 






77,743






 






 






 






55,806






 








Operating income






 






543,680






 






 






 






443,805






 








Interest expense






 






2,285






 






 






 






10,743






 








Other income, net






 






(12,796






)






 






 






(16,292






)








Income before income taxes






 






554,191






 






 






 






449,354






 








Provision for income taxes






 






118,911






 






 






 






89,922






 








Net income and comprehensive income






 






435,280






 






 






 






359,432






 








Less: Net income attributable to non-controlling interests






 






—






 






 






 






7,058






 








Net income attributable to Nextpower Inc.






$






435,280






 






 






$






352,374






 








 






 






 






 








Earnings per share attributable to Nextpower Inc. common stockholders






 






 






 








Basic






$






2.94






 






 






$






2.46






 








Diluted






$






2.86






 






 






$






2.41






 








Weighted-average shares used in computing per share amounts:






 






 






 








Basic






 






147,806






 






 






 






143,102






 








Diluted






 






152,062






 






 






 






149,134






 










 




Schedule II








Nextpower Inc.




Unaudited condensed consolidated balance sheets




(In thousands)










 



 






As of December 31, 2025






 






As of March 31, 2025








ASSETS








Current assets:






 






 






 








Cash and cash equivalents






$






952,624






 






$






766,103








Accounts receivable, net of allowance of $1,960 and $1,472, respectively






 






452,235






 






 






472,462








Contract assets






 






443,358






 






 






405,890








Inventories






 






275,292






 






 






209,432








Section 45X credit receivable






 






301,149






 






 






215,616








Other current assets






 






134,941






 






 






88,483








Total current assets






 






2,559,599






 






 






2,157,986








Property and equipment, net






 






84,752






 






 






60,395








Goodwill






 






485,300






 






 






371,018








Other intangible assets, net






 






80,577






 






 






53,241








Deferred tax assets






 






517,646






 






 






498,778








Other assets






 






72,192






 






 






51,098








Total assets






$






3,800,066






 






$






3,192,516








LIABILITIES AND STOCKHOLDERS’ EQUITY








Current liabilities:






 






 






 








Accounts payable






$






560,075






 






$






585,299








Accrued expenses






 






106,573






 






 






97,000








Deferred revenue






 






321,882






 






 






247,127








Other current liabilities






 






96,242






 






 






104,086








Total current liabilities






 






1,084,772






 






 






1,033,512








Tax receivable agreement (TRA) liability






 






371,179






 






 






394,879








Long-term deferred revenue






 






97,580






 






 






96,635








Other liabilities






 






95,665






 






 






39,360








Total liabilities






 






1,649,196






 






 






1,564,386








Total stockholders’ equity






 






2,150,870






 






 






1,628,130








Total liabilities and stockholders’ equity






$






3,800,066






 






$






3,192,516












 




Schedule III








Nextpower Inc.




Unaudited condensed consolidated statements of cash flows




(In thousands)








 



 






Nine-month periods ended








 






December 31, 2025






 






December 31, 2024








Cash flows from operating activities:






 






 






 








Net income






$






435,280






 






 






$






359,432






 








Depreciation and amortization of intangible assets






 






21,586






 






 






 






8,299






 








Changes in working capital and other, net






 






(65,383






)






 






 






50,736






 








Net cash provided by operating activities






 






391,483






 






 






 






418,467






 








Cash flows from investing activities:






 






 






 








Purchases of property and equipment






 






(31,463






)






 






 






(23,841






)








Payment for acquisitions, net of cash acquired






 






(124,112






)






 






 






(144,675






)








Other investing activities






 






(2,747






)






 






 






—






 








Net cash used in investing activities






 






(158,322






)






 






 






(168,516






)








Cash flows from financing activities:






 






 






 








Repayment of bank borrowings






 






—






 






 






 






(2,813






)








Payment of revolver issuance costs






 






(1,993






)






 






 






(6,017






)








TRA payment






 






(27,427






)






 






 






(15,520






)








Distribution to former non-controlling interest holder






 






(3,010






)






 






 






(6,112






)








Payment of acquisition deferred purchase price






 






(14,210






)






 






 






—






 








Net cash used in financing activities






 






(46,640






)






 






 






(30,462






)








Net increase in cash and cash equivalents






 






186,521






 






 






 






219,489






 








Cash and cash equivalents beginning of period






 






766,103






 






 






 






474,054






 








Cash and cash equivalents end of period






$






952,624






 






 






$






693,543






 














 



 






Nine-month periods ended








Adjusted free cash flow






December 31, 2025






 






December 31, 2024








Net cash provided by operating activities






$






391,483






 






 






$






418,467






 








Purchases of property and equipment






 






(31,463






)






 






 






(23,841






)








Adjusted free cash flow






$






360,020






 






 






$






394,626






 














 




Schedule IV








Nextpower Inc.




Reconciliation of GAAP to Non-GAAP financial measures




(In thousands, except percentages and per share data)








 



 






Three-month periods ended








 






December 31, 2025






 






September 26, 2025






 






December 31, 2024








GAAP gross profit & margin






$






288,132






 






 






31.7






%






 






$






292,860






 






 






32.4






%






 






$






240,903






 






 






35.5






%








Stock-based compensation expense






 






4,851






 






 






 






 






 






5,077






 






 






 






 






 






3,084






 






 






 








Intangible amortization






 






1,976






 






 






 






 






 






1,649






 






 






 






 






 






880






 






 






 








Adjusted gross profit & margin






$






294,959






 






 






32.4






%






 






$






299,586






 






 






33.1






%






 






$






244,867






 






 






36.0






%








 






 






 






 






 






 






 






 






 






 






 






 








GAAP operating income & margin






$






176,105






 






 






19.4






%






 






$






181,345






 






 






20.0






%






 






$






150,236






 






 






22.1






%








Stock-based compensation expense






 






33,855






 






 






 






 






 






31,653






 






 






 






 






 






26,980






 






 






 








Intangible amortization






 






3,272






 






 






 






 






 






2,918






 






 






 






 






 






1,780






 






 






 








Acquisition related costs






 






398






 






 






 






 






 






2,577






 






 






 






 






 






1,038






 






 






 








Adjusted operating income & margin






$






213,630






 






 






23.5






%






 






$






218,493






 






 






24.1






%






 






$






180,034






 






 






26.5






%








 






 






 






 






 






 






 






 






 






 






 






 








GAAP net income & margin






$






131,236






 






 






14.4






%






 






$






146,861






 






 






16.2






%






 






$






117,374






 






 






17.3






%








Stock-based compensation expense






 






33,855






 






 






 






 






 






31,653






 






 






 






 






 






26,980






 






 






 








Intangible amortization






 






3,272






 






 






 






 






 






2,918






 






 






 






 






 






1,780






 






 






 








Adjustment for taxes






 






857






 






 






 






 






 






(3,420






)






 






 






 






 






6,550






 






 






 








Acquisition related costs






 






398






 






 






 






 






 






2,577






 






 






 






 






 






1,038






 






 






 








Adjusted net income & margin






$






169,618






 






 






18.7






%






 






$






180,589






 






 






19.9






%






 






$






153,722






 






 






22.6






%








 






 






 






 






 






 






 






 






 






 






 






 








GAAP net income & margin






$






131,236






 






 






14.4






%






 






$






146,861






 






 






16.2






%






 






$






117,374






 






 






17.3






%








Interest, net






 






(9,565






)






 






 






 






 






(5,911






)






 






 






 






 






(1,865






)






 






 








Debt extinguishment cost






 






—






 






 






 






 






 






5,121






 






 






 






 






 






—






 






 






 








Provision for income taxes






 






49,263






 






 






 






 






 






35,864






 






 






 






 






 






42,842






 






 






 








Depreciation expense






 






5,164






 






 






 






 






 






4,443






 






 






 






 






 






2,636






 






 






 








Intangible amortization






 






3,272






 






 






 






 






 






2,918






 






 






 






 






 






1,780






 






 






 








Stock-based compensation expense






 






33,855






 






 






 






 






 






31,653






 






 






 






 






 






26,980






 






 






 








Acquisition related costs






 






398






 






 






 






 






 






2,577






 






 






 






 






 






1,038






 






 






 








Other tax related income, net






 






—






 






 






 






 






 






—






 






 






 






 






 






(4,413






)






 






 








Adjusted EBITDA & margin






$






213,623






 






 






23.5






%






 






$






223,526






 






 






24.7






%






 






$






186,372






 






 






27.4






%








 






 






 






 






 






 






 






 






 






 






 






 








Diluted earnings per share






 






 






 






 






 






 






 






 






 






 






 








GAAP diluted earnings per share






$






0.85






 






 






 






 






$






0.97






 






 






 






 






$






0.79






 






 






 








Earnings per share attributable to Non-GAAP adjustments






 






0.25






 






 






 






 






 






0.22






 






 






 






 






 






0.24






 






 






 








Adjusted diluted earnings per share






$






1.10






 






 






 






 






$






1.19






 






 






 






 






$






1.03






 






 






 








 






 






 






 






 






 






 






 






 






 






 






 








Diluted shares used in computing per share amounts






 






153,921






 






 






 






 






 






152,018






 






 






 






 






 






149,028






 






 






 
























 




Nextpower Inc.




Reconciliation of GAAP to Non-GAAP financial measures (continued)




(In thousands, except percentages and per share data)








 



 






Nine-month periods ended








 






December 31, 2025






 






December 31, 2024








GAAP gross profit & margin






$






862,718






 






 






32.2






%






 






$






703,138






 






 






34.6






%








Stock-based compensation expense






 






12,166






 






 






 






 






 






9,345






 






 






 








Intangible amortization






 






4,784






 






 






 






 






 






1,864






 






 






 








Adjusted gross profit & margin






$






879,668






 






 






32.8






%






 






$






714,347






 






 






35.1






%








 






 






 






 






 






 






 






 








GAAP operating income & margin






$






543,680






 






 






20.3






%






 






$






443,805






 






 






21.8






%








Stock-based compensation expense






 






87,818






 






 






 






 






 






78,766






 






 






 








Intangible amortization






 






8,249






 






 






 






 






 






3,743






 






 






 








Acquisition related costs






 






4,054






 






 






 






 






 






4,695






 






 






 








Adjusted operating income & margin






$






643,801






 






 






24.0






%






 






$






531,009






 






 






26.1






%








 






 






 






 






 






 






 






 








GAAP net income & margin






$






435,280






 






 






16.2






%






 






$






359,432






 






 






17.7






%








Stock-based compensation expense






 






87,818






 






 






 






 






 






78,766






 






 






 








Intangible amortization






 






8,249






 






 






 






 






 






3,743






 






 






 








Adjustment for taxes






 






(9,692






)






 






 






 






 






(9,368






)






 






 








Acquisition related costs






 






4,054






 






 






 






 






 






4,695






 






 






 








Adjusted net income & margin






$






525,709






 






 






19.6






%






 






$






437,268






 






 






21.5






%








 






 






 






 






 






 






 






 








GAAP net income & margin






$






435,280






 






 






16.2






%






 






$






359,432






 






 






17.7






%








Interest, net






 






(20,847






)






 






 






 






 






(2,702






)






 






 








Debt extinguishment cost






 






5,121






 






 






 






 






 






—






 






 






 








Provision for income taxes






 






118,911






 






 






 






 






 






89,922






 






 






 








Depreciation expense






 






13,337






 






 






 






 






 






4,556






 






 






 








Intangible amortization






 






8,249






 






 






 






 






 






3,743






 






 






 








Stock-based compensation expense






 






87,818






 






 






 






 






 






78,766






 






 






 








Acquisition related costs






 






4,054






 






 






 






 






 






4,695






 






 






 








Other tax related income, net






 






—






 






 






 






 






 






(4,413






)






 






 








Adjusted EBITDA & margin






$






651,923






 






 






24.3






%






 






$






533,999






 






 






26.2






%








 






 






 






 






 






 






 






 








Diluted earnings per share






 






 






 






 






 






 






 








GAAP diluted earnings per share






$






2.86






 






 






 






 






$






2.41






 






 






 








Earnings per share attributable to Non-GAAP adjustments






 






0.60






 






 






 






 






 






0.52






 






 






 








Adjusted diluted earnings per share






$






3.46






 






 






 






 






$






2.93






 






 






 








 






 






 






 






 






 






 






 








Diluted shares used in computing per share amounts






 






152,062






 






 






 






 






 






149,134






 






 






 







See the accompanying notes on Schedule V attached to this press release


Schedule V


Nextpower Inc.

Notes


To supplement Nextpower’s unaudited selected financial data presented consistent with U.S. Generally Accepted Accounting Principles (“GAAP”), the Company discloses certain non-GAAP financial measures that exclude certain charges and gains, including adjusted earnings before interest, taxes, depreciation, and amortization (“Adjusted EBITDA”), adjusted EBITDA margin, adjusted gross profit, adjusted gross margin, adjusted operating income, adjusted operating margin, adjusted net income, adjusted net income margin, adjusted diluted earnings per share, and adjusted free cash flow. These supplemental measures exclude certain legal and other charges, stock-based compensation expense and intangible amortization, other discrete events as applicable and the related tax effects. These non-GAAP measures are not in accordance with or an alternative for GAAP and may be different from non-GAAP measures used by other companies. We believe that these non-GAAP measures have limitations in that they do not reflect all the amounts associated with Nextpower’s results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Nextpower’s results of operations in conjunction with the corresponding GAAP measures. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the most directly comparable GAAP measures. We compensate for the limitations of non-GAAP financial measures by relying upon GAAP results to gain a complete picture of the Company’s performance.


In calculating non-GAAP financial measures, we exclude certain items to facilitate a review of the comparability of the Company’s operating performance on a period-to-period basis because such items are not, in our view, related to the Company’s ongoing operational performance. We use non-GAAP measures to evaluate the operating performance of our business, for comparison with forecasts and strategic plans, for calculating return on investment, and for benchmarking performance externally against competitors. In addition, management’s incentive compensation is determined using certain non-GAAP measures. Since we find these measures to be useful, we believe that investors benefit from seeing results “through the eyes” of management in addition to seeing GAAP results. We believe that these non-GAAP measures, when read in conjunction with the Company’s GAAP financials, provide useful information to investors by offering:



the ability to make more meaningful period-to-period comparisons of the Company’s ongoing operating results;



the ability to better identify trends in the Company’s underlying business and perform related trend analysis;



a better understanding of how management plans and measures the Company’s underlying business; and



an easier way to compare the Company’s operating results against analyst financial models and operating results of competitors that supplement their GAAP results with non-GAAP financial measures.



The following are explanations of each of the adjustments that we incorporate into non-GAAP measures, as well as the reasons for excluding each of these individual items in the reconciliations of these non-GAAP financial measures:


Stock-based compensation expense consists of non-cash charges for the estimated fair value of unvested restricted share unit and stock option awards granted to employees. The Company believes that the exclusion of these charges provides for more accurate comparisons of its operating results to peer companies due to the varying available valuation methodologies, subjective assumptions, and the variety of award types. In addition, the Company believes it is useful to investors to understand the specific impact stock-based compensation expense has on its operating results.


Intangible amortization consists primarily of non-cash charges that can be impacted by, among other things, the timing and magnitude of acquisitions. The Company considers its operating results without these charges when evaluating its ongoing performance and forecasting its earnings trends, and therefore excludes such charges when presenting non-GAAP financial measures. The Company believes that the assessment of its operations excluding these costs is relevant to its assessment of internal operations and comparisons to the performance of its competitors.


Acquisition costs consist primarily of nonrecurring transaction costs, including integration and diligence activities on new and potential business acquisitions.


Adjustment for taxes relates to the tax effects of the various adjustments that we incorporate into non-GAAP measures to provide a more meaningful measure on non-GAAP net income and certain adjustments related to non-recurring settlements of tax contingencies or other non-recurring tax charges, when applicable.


Revolver extinguishment cost consists of nonrecurring costs for the termination of our existing credit agreement originally entered into on February 13, 2023.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260127908838/en/
IR Contact

Sarah Lee

Investor@nextpower.com


Media Contact

Brandy Lee

Media@nextpower.com


Original: Nextpower Reports Third Quarter Fiscal Year 2026 Financial Results