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    Ajith Madeley

    Director and Equity Research Analyst at Mizuho Financial Group

    Ajith Madeley is a Director and Equity Research Analyst at Mizuho Financial Group, specializing in coverage of the Pharmaceuticals and Biotechnology sectors, with a particular focus on major U.S. biopharma companies such as Pfizer, Merck, Bristol Myers Squibb, and Gilead Sciences. Known for detailed fundamental analysis and active participation in major healthcare earnings coverage, Ajith has delivered actionable investment insights that have contributed to notable performance outcomes, including consistent positive returns and increasing recognition among institutional investors. He began his analyst career in the early 2010s, previously holding roles at Barclays and Credit Suisse before joining Mizuho in 2021, and is recognized for his rigorous sector expertise and impactful client engagement. Ajith holds Series 7, 63, and 86/87 FINRA licenses and has been acknowledged for the depth of his research coverage in industry publications.

    Ajith Madeley's questions to Nextracker (NXT) leadership

    Ajith Madeley's questions to Nextracker (NXT) leadership • Q2 2025

    Question

    Ajith Madeley from Mizuho asked about the revenue cadence for the remainder of the fiscal year, specifically the Q3 vs. Q4 weighting and the amount of book-and-bill business needed. He also inquired about the expected structural OpEx, particularly for R&D.

    Answer

    President Howard Wenger expressed high confidence in the FY25 outlook due to strong backlog visibility, while CFO Chuck Boynton confirmed Q4 will be the largest in company history. Boynton also stated the company is making strategic investments, primarily in R&D and go-to-market, with R&D spend expected to continue increasing in the back half of the year.

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