Nextracker Inc. (NASDAQ:NXT) announced its second‑quarter fiscal 2026 results on October 24, 2025. Revenue rose 42% year‑over‑year to $905 million, while adjusted EBITDA climbed 23% to $224 million, giving an adjusted EBITDA margin of 24.7%. The company also reported a record backlog of more than $5 billion and shipped over 150 GW of tracker systems since inception.
The company’s cash position strengthened to $743 million with no debt, and it secured a $1 billion unsecured revolving credit facility at investment‑grade terms. Adjusted net income reached $181 million, and the firm benefited from $67 million in IRA 45X advanced‑manufacturing tax‑credit rebates. GAAP net income was $147 million, and GAAP gross profit was $293 million, reflecting a 32.4% gross‑margin.
Nextracker raised its fiscal‑2026 revenue guidance to $3.275 billion–$3.475 billion, up from the prior $3.2 billion–$3.45 billion range, and adjusted EBITDA guidance to $775 million–$815 million, slightly above the previous $750 million–$810 million forecast. The company reiterated its focus on expanding its platform beyond trackers, citing early traction in foundation and eBOS solutions.
These results underscore Nextracker’s continued market leadership and its ability to generate robust cash flow while maintaining a strong balance sheet. The record backlog and upgraded guidance signal sustained demand for its integrated solar‑power platform, positioning the company for continued growth in the utility‑scale solar market.
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