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Company Research18 Apr 2024
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The cautiously optimistic market in 2023 saw stocks rebounded upwards, and interest in IPOs picked up from the previous year.
Nextracker (NXT) investor relations material
Nextracker Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary23 Oct, 2025
Executive summary
Q2 FY26 revenue grew 42% year-over-year to $905 million, with six-month revenue reaching $1.77 billion, up 31% year-over-year.
Net income for Q2 was $146.9 million, up 25% year-over-year; adjusted EBITDA was $224 million, up 29% year-over-year, with a 24.7% margin.
Record backlog exceeded $5 billion, driven by strong global demand, robust bookings, and new product adoption.
Strategic acquisitions, including Origami Solar, Bentek, and OnSight, and a joint venture in Saudi Arabia expanded product offerings and international presence.
Platform expansion into AI, robotics, and advanced module frames, with a $75 million multi-year agreement signed.
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).
Six-month adjusted EBITDA was $438 million (24.8% margin); GAAP net income for six months was $304 million.
Adjusted diluted EPS for Q2 was $1.19; six-month adjusted diluted EPS was $2.36.
Adjusted free cash flow for Q2 was $171 million; year-to-date operating cash flow was $268 million.
Ended Q2 with $845 million in cash, no debt, and total liquidity of $1.8 billion, supported by a new $1 billion unsecured revolving credit facility.
Outlook and guidance
FY26 revenue guidance raised to $3.275–$3.475 billion, with adjusted EBITDA of $775–$815 million and adjusted diluted EPS of $4.04–$4.25.
Second half revenue expected to be more weighted toward Q4; modest margin impact anticipated from tariffs and higher international project 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.
New product lines: quantify bookings impact
Nextracker Arabia: specific market expansion goals
How will the new credit facility be utilized?
Describe new product integration strategy
Explain Nextracker Arabia JV financial structure
How is capital allocated for M&A and R&D?
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Next Nextracker earnings date
CMD 202512 Nov, 2025
Next Nextracker earnings date
CMD 202512 Nov, 2025
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Nextracker Inc is a provider of intelligent, integrated solar tracker and software solutions used in utility-scale and ground-mounted distributed generation solar projects around the world. The company design, engineers and offers smart solar tracking technology that enables solar panels in utility-scale power plants to follow the sun's movement across the sky and optimize plant performance. The company was founded in 2013, and went public in February 2023.
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