Nextpower (NXT) investor relations material

Executive summary

• Q2 FY27 revenue was $1.109B (+23% YoY), net income was $165.5M (+13%) and Adjusted EBITDA was $249.7M; bookings lifted backlog above $6B.

• H1 revenue rose 16% to $2.044B; U.S. demand, higher average selling prices and acquisitions offset lower Rest of World shipments.

• Demand extended beyond trackers; non-tracker products represented ~22% of Q2 revenue.

Financial highlights

• Q2 gross profit increased 18% to $345.3M, operating income rose 14% to $207.5M and net income rose 13% to $165.5M YoY.

• Q2 Adjusted EBITDA was $249.7M; adjusted free cash flow was ~$135M, with $158M cash flow from operations.

• H1 gross profit was $681.2M, operating income $398.5M and net income $330.8M; each increased YoY.

• H1 cash flow from operations was $279.2M and adjusted free cash flow was $240M.

• Cash and equivalents ended at $1.030B, down from $1.095B at March 31, 2026.

Outlook and guidance

• FY2027 revenue guidance rose to $4.2B–$4.45B from $4.1B–$4.4B; Adjusted EBITDA guidance increased to $890M–$940M from $870M–$930M.

• FY2027 adjusted diluted EPS guidance increased to $4.61–$4.87; GAAP net income guidance is $559M–$598M and diluted EPS guidance is $3.62–$3.87.

• FY2027 free cash flow estimate increased from $450M to more than $500M.

• Q3 revenue is expected to decline sequentially from record Q2 while growing ~10% YoY; Q3 Adjusted EBITDA margin is expected 1–2 percentage points below Q4.

• Second-half adjusted gross and EBITDA margins are expected in the high 20s and high teens; FY2027 margins are expected in the low 30s and low 20s, respectively.