Nextracker announced strong financial results for the first quarter of fiscal year 2026, which ended June 27, 2025. The company reported revenue of $864 million, a 20% increase year-over-year, and achieved a GAAP gross profit of $282 million with a 32.6% margin. Adjusted diluted EPS was $1.16, exceeding expectations.
The company raised its full fiscal year 2026 outlook, projecting revenue in the range of $3.2 billion to $3.45 billion, and adjusted EBITDA between $750 million and $810 million. Adjusted diluted EPS is now expected to be between $3.96 and $4.27. Nextracker also reported a new record backlog exceeding $4.75 billion, providing strong revenue visibility.
In a significant strategic move, Nextracker launched a new AI and robotics business initiative, appointing Dr. Francesco Borrelli as its first Chief AI and Robotics Officer. The company has invested over $40 million in three AI and robotics technologies, including the acquisition of OnSight Technology for autonomous inspection and fire detection systems, which are now commercially available in the U.S.
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