Nextpower (NXT) investor relations material

Executive summary

• Achieved record FY 2026 revenue of $3.56 billion, up 20% year-over-year, with a backlog exceeding $5.25 billion.

• Bookings and backlog reached all-time highs, driven by robust demand in the U.S. and internationally, especially Europe.

• Expanded product platform beyond trackers, including eBOS, foundations, steel frames, and power conversion solutions; announced acquisition of power conversion product lines to accelerate entry into inverter and data center markets.

• Surpassed 160 GW of cumulative tracker shipments and 50 GW of NX Horizon-XTR terrain-following trackers.

• Maintained a diversified global supply chain, mitigating regional policy and logistics risks.

Financial highlights

• Q4 FY26 revenue was $881 million, down sequentially but above expectations; FY26 revenue grew 20% to $3.56 billion.

• Q4 FY26 GAAP net income was $151 million (17.1% margin), with diluted EPS of $0.97; adjusted net income was $162 million, adjusted EPS $1.05.

• FY26 GAAP net income was $585.9 million, GAAP diluted EPS $3.84; adjusted net income $687.5 million, adjusted EPS $4.50.

• Adjusted EBITDA for FY26 was $854 million (24% margin), up from $776.5 million in FY25.

• Adjusted free cash flow for FY26 was $514 million.

Outlook and guidance

• FY27 revenue guidance raised to $3.8–$4.1 billion; adjusted EBITDA expected at $825–$900 million; adjusted diluted EPS $4.21–$4.59.

• Non-tracker business projected to grow over 40%, reaching 15% of total revenue.

• Q1 revenue expected to grow low single digits sequentially; gross margins to remain in the low 30s.

• Capital expenditures targeted at $75–$100 million; adjusted free cash flow guidance at $450–$500 million.

• Outlook includes $50 million in incremental costs for accelerated entry into the power conversion market.