Nextpower (NXT) Q2 2026 earnings summary

Executive summary

• Q2 revenue reached $905.3 million, up 42% year-over-year, with net income of $146.9 million and diluted EPS of $0.97.

• First half FY26 revenue totaled $1.77 billion, up 31% year-over-year, marking a record first half.

• Growth driven by strong U.S. demand, new project volume, and contributions from strategic acquisitions including Bentek, OnSight, and Origami.

• Expanded technology platform with new products in AI, robotics, and advanced module frames, and secured a $75 million multi-year agreement.

• Announced Nextracker Arabia JV to expand manufacturing and commercial presence in MENA, supporting Saudi Arabia's Vision 2030.

Financial highlights

• Q2 gross profit was $293 million (32.4% margin), operating income $181 million (20% margin), and adjusted EBITDA $224 million (24.7% margin).

• Year-to-date revenue was ~$1.8 billion, with adjusted EBITDA of $438 million and adjusted EBITDA margin of 24.8%.

• Adjusted free cash flow was $171 million for Q2 and $241 million year-to-date.

• Ended quarter with $845 million in cash, no debt, and total liquidity of nearly $1.8 billion.

• Net income for the quarter was $146.9 million, up 25% year-over-year.

Outlook and guidance

• FY26 revenue guidance raised to $3.275–$3.475 billion, with adjusted EBITDA expected between $775–$815 million and adjusted diluted EPS $4.04–$4.25.

• Second half revenue expected to be more weighted toward Q4; modest margin impact anticipated from Section 232 tariffs and higher international mix.

• Gross margins projected to remain in the low 30% range, operating margins in the low 20%.

• Guidance assumes stable U.S. policy and permitting environment; regulatory changes could impact results.

• Ongoing investment in R&D and sales to support growth and innovation.