Nextracker Inc. (ticker: NXT) is a leading provider of solar tracking solutions, primarily serving the utility-scale solar energy market. The company designs and manufactures advanced solar tracker systems that enable solar panels to follow the sun's movement, maximizing energy generation. Nextracker's offerings include solar tracking products and software solutions that enhance the efficiency and performance of solar energy projects.
- Solar Tracking Products - Manufactures advanced solar tracker systems, including NX Horizon and NX Gemini, which optimize energy generation by enabling solar panels to follow the sun's movement.
- TrueCapture Software - Provides a software solution that enhances solar energy output by dynamically adjusting tracker angles based on real-time weather and site conditions.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Bruce Ledesma Executive | President, Strategy and Administration | None | Joined Nextracker in May 2019; transitioned to current role in May 2023; oversees strategy and administrative functions. | |
Charles Boynton Executive | Chief Financial Officer | None | Appointed CFO in May 2024; previously served on Nextracker's Board and as Chair of the Audit Committee. | |
Daniel Shugar Executive | Chief Executive Officer | None | Founder of Nextracker in 2013; over three decades of leadership in the solar energy industry. | View Report → |
Howard Wenger Executive | President | None | Extensive solar industry experience since 1984; became President of Nextracker in February 2022. | |
Léan Schlesinger Executive | General Counsel, Chief Ethics and Compliance Officer, and Secretary | None | Joined Nextracker in April 2019; over two decades of legal experience in corporate governance, M&A, and compliance. | |
Brandi Thomas Board | Director | Vice President, Corporate Audit and Enterprise Risk Management at General Motors | Appointed in April 2023; serves on Nextracker's Audit Committee; extensive experience in finance and risk management. | |
Jeffrey Guldner Board | Director | President, CEO, and Chairman of Pinnacle West Capital Corporation; Board member at multiple organizations | Appointed in June 2024; extensive leadership experience in the utility sector; serves on Nextracker's Nominating, Governance, and Public Responsibility Committee. | |
Jonathan Coslet Board | Director | Vice Chairman of TPG Global LLC; Board member at Life Time Group Holdings, Cushman & Wakefield, TPG Inc., and others | Appointed in 2023; extensive investment experience; serves on multiple corporate and non-profit boards. | |
Julie Blunden Board | Director | Board member at ZincFive, Inc.; Plus Power, LLC; New Energy Nexus | Appointed in January 2024; extensive experience in clean energy and governance; serves on Nextracker's Audit Committee. | |
Steven Mandel Board | Director | Business Unit Partner at TPG Rise Climate; Board member at Matrix Renewables, Intersect Power, Palmetto Solar, Climavision, Chordoma Foundation | Appointed in 2023; focuses on investments in clean energy and climate solutions. | |
William Watkins Board | Director | Board member at Flex Ltd. | Extensive management experience across industries; served as CEO of Seagate Technology and other leadership roles in energy storage companies. | |
Willy Shih Board | Director | Professor at Harvard Business School; Advisory roles with U.S. Department of Commerce committees | Appointed in 2023; expert in product development and manufacturing; previously served on Flex's Board. |
- Can you quantify the margin gap between your lowest-margin international markets and the U.S., and explain how this disparity might impact your overall corporate margin profile going forward?
- With your backlog now significantly over $4.5 billion, can you provide a more precise figure and elaborate on how much of this backlog is expected to convert into revenue within the next fiscal year?
- Given the historical trend of decreasing system costs in the solar industry, do you anticipate any pricing adjustments in your bookings as we approach fiscal '26 and '27, and how might this affect your margins and competitive position?
- You mentioned that software revenue is expected to be approximately 2% of total revenue; can you share the current attach rate of your software offerings and discuss the potential upside for increasing software's contribution to overall revenue and margins?
- Considering your strong liquidity position and capital allocation strategy, how are you prioritizing between organic growth, M&A activities, and potential shareholder returns like buyback programs, especially in the context of expansion opportunities in international markets and efforts to grow market share in the U.S.?
Research analysts who have asked questions during Nextracker earnings calls.
Brian Lee
Goldman Sachs Group, Inc.
6 questions for NXT
Dimple Gosai
Bank of America
6 questions for NXT
Philip Shen
ROTH MKM
6 questions for NXT
Praneeth Satish
Wells Fargo
6 questions for NXT
Ben Kallo
Robert W. Baird & Co.
5 questions for NXT
Mark W. Strouse
J.P. Morgan Chase & Co.
5 questions for NXT
Dylan Nassano
Wolfe Research
4 questions for NXT
Julien Dumoulin-Smith
Jefferies
4 questions for NXT
Joseph Osha
Guggenheim Partners
3 questions for NXT
Kashy Harrison
Piper Sandler
3 questions for NXT
Corinne Blanchard
Deutsche Bank
2 questions for NXT
Jordan Levy
Truist Securities
2 questions for NXT
Sean Milligan
Gen
2 questions for NXT
Ajith Madeley
Mizuho Financial Group
1 question for NXT
Ameet Thakkar
BMO Capital Markets
1 question for NXT
Benjamin Kallo
Robert W. Baird & Co.
1 question for NXT
Christine Cho
Goldman Sachs Group
1 question for NXT
Jonathan Kees
Daiwa Capital Markets
1 question for NXT
Jonathan Windham
UBS
1 question for NXT
Maheep Mandloi
Mizuho Financial Group
1 question for NXT
Moses Sutton
BNP Paribas
1 question for NXT
Sean McLoughlin
HSBC
1 question for NXT
Steven Fox
Fox Research
1 question for NXT
Vikram Bagri
Citigroup Inc.
1 question for NXT
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Our principal competitors are Array Technologies (including STi Norland), GameChange Solar, PV Hardware, FTC Solar, Arctech Solar and Soltec. | |
GameChange Solar | Our principal competitors are Array Technologies (including STi Norland), GameChange Solar, PV Hardware, FTC Solar, Arctech Solar and Soltec. |
PV Hardware | Our principal competitors are Array Technologies (including STi Norland), GameChange Solar, PV Hardware, FTC Solar, Arctech Solar and Soltec. |
Our principal competitors are Array Technologies (including STi Norland), GameChange Solar, PV Hardware, FTC Solar, Arctech Solar and Soltec. | |
Arctech Solar | Our principal competitors are Array Technologies (including STi Norland), GameChange Solar, PV Hardware, FTC Solar, Arctech Solar and Soltec. |
Soltec | Our principal competitors are Array Technologies (including STi Norland), GameChange Solar, PV Hardware, FTC Solar, Arctech Solar and Soltec. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Customer A | Solar project developer/EPC partner | All | 17.4% of FY 2023 revenue ; 12.4% and 15.2% of accounts receivable & contract assets as of 3/31/2024 and 3/31/2023, respectively. |
Customer G | Solar project developer/EPC partner | All | 17.0% of FY 2024 revenue ; 15.5% of accounts receivable & contract assets as of 3/31/2024. |
Flex | Manufacturing/production partner | All | 11.5% of accounts receivable & contract assets as of 3/31/2025. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Solar Pile International’s Foundations Business | 2024 | Completed on July 31, 2024, this deal involved acquiring Spinex Systems Inc. and other SPI affiliates’ assets for approximately $48.0 million (including $6.0 million contingent earnout) to gain fixed assets, intellectual property, and key talent to support an expanded foundation offering—especially for projects with unique soil conditions. |
Ojjo, Inc. | 2024 | Acquired on June 20, 2024, in an all‐cash transaction valued at approximately $110.2 million (plus an additional $10.0 million deferred payment), this acquisition expands the renewable energy foundation technology portfolio with assets including developed technology and established customer relationships, with $63.2 million of goodwill recorded. |
Yuma, Inc. (Merger Transaction with Flex Ltd. and Yuma Acquisition Corp.) | 2023 | In a merger transaction initiated in February 2023 and finalizing with key steps (including court-approved capital reduction and shareholder approval) by January 2024, Yuma, Inc. merged into Yuma Acquisition Corp.—a restructuring designed to consolidate Nextracker’s ownership and facilitate the distribution of Flex’s remaining interests to its shareholders through a pro rata share exchange procedure. |
Recent press releases and 8-K filings for NXT.
- Nextracker Inc. reported strong second-quarter results that exceeded expectations, driven by robust demand across U.S. and international markets and momentum from recently acquired businesses.
- The company raised its fiscal 2026 revenue forecast to between $3.275 billion and $3.475 billion, reflecting approximately 14% year-on-year growth, and also increased its adjusted EBITDA and EPS guidance.
- Bookings reached a record backlog above $5 billion.
- Nextracker's non-GAAP gross margin reached 33.1%, and analysts from Goldman Sachs and TD Cowen raised their price targets following the impressive quarter.
- Nextracker and Abunayyan Holding have established a joint venture named Nextracker Arabia, headquartered in Riyadh, to accelerate solar adoption and localize manufacturing, sales, engineering, and operations in Saudi Arabia and the MENA region.
- This partnership aligns with Saudi Vision 2030 goals, aiming to diversify the economy, strengthen local industry, and achieve a clean energy target of 130 GW by 2030.
- Nextracker Arabia is expected to launch operations in early 2026 and will leverage Nextracker's track record, including over 3 GW of solar projects delivered in Saudi Arabia.
- The announcement follows Nextracker's strong financial performance, with its stock surging over 10% post-market after better-than-expected Q2 earnings and revenue, and raised fiscal year 2026 earnings guidance.
- Nextracker reported a 42% year-over-year increase in Q2 FY26 revenue to $905 million, with first-half (1H) FY26 revenue growing 31% year-over-year to approximately $1.77 billion.
- Adjusted EBITDA for Q2 FY26 increased 29% year-over-year to $224 million, contributing to a 26% year-over-year increase in 1H FY26 adjusted EBITDA to $438 million.
- The company's backlog reached a record level of over $5 billion.
- For fiscal year 2026, Nextracker increased its outlook, expecting revenue in the range of $3.275 billion to $3.475 billion, adjusted EBITDA between $775 million and $815 million, and adjusted diluted EPS in the range of $4.04 to $4.25 per share.
- Nextracker Inc. has entered into a strategic partnership with T1 Energy to supply patented, domestically-produced steel module frames for T1's upcoming 5-gigawatt G1 Dallas solar manufacturing plant.
- This collaboration aims to reduce U.S. reliance on imported aluminum frames and expand American solar supply chains, with Nextracker planning to increase steel frame production capacity in Texas.
- Despite the strategic partnership, T1 Energy faces significant financial challenges, reporting a net margin of -234.07% and a debt-to-equity ratio of 3.17.
- Following the announcement, T1 Energy's stock surged 26% in premarket trading, while Nextracker's shares rose by 3.4%, indicating positive investor sentiment.
- NextGen Digital Platforms Inc. CEO, Matthew Priebe, will present live at the OTCQB Venture Virtual Investor Conference on August 7th, 2025, at 12:30 PM.
- Investors can schedule one-on-one meetings with the company from August 7th-20th.
- Recent company highlights include the proposed expansion of its AI Strategy and Hardware as a Service Business through integration with Bittensor Network on July 30th, 2025.
- The company also announced a treasury strategy to incorporate crypto assets, acquiring $1.0 Million in Bitcoin on July 21st, 2025.
- Next PLC has raised its full-year profit and sales forecasts for the third time this year.
- This revision follows a strong second-quarter performance, with full-price sales increasing by 10.5%.
- The company's profit before tax forecast has been increased by £25 million to approximately £1.105 billion.
- The positive performance was attributed to better-than-expected trading conditions, including warm summer weather and disruption at rival Marks & Spencer.
- Despite the upbeat revision, Next remains cautious about the second half of the year due to anticipated softening employment conditions in the UK.
- NextGen Digital Platforms Inc. (NXT) plans a strategic integration with the Bittensor (TAO) ecosystem, a decentralized network for AI model training and machine intelligence validation.
- Subject to regulatory approvals, the Company intends to deploy validator nodes, develop AI-focused subnets, and stake TAO tokens.
- This initiative is expected to build on NextGen's established hardware-as-a-service business ("Cloud AI Hosting") and strengthen its positioning in high-performance computing and decentralized infrastructure.
- The proposed integration has the potential to generate network-native rewards through revenue and digital asset appreciation.
- CEO Matthew Priebe stated that this entry into the Bittensor ecosystem is a natural extension of their strategy, aligning infrastructure, capital, expertise, and digital assets with a leading decentralized AI network.
- NextGen Digital Platforms Inc. (CSE:NXT) announced on July 21, 2025, the acquisition of $1.0 million worth of Bitcoin to be held on its balance sheet as part of its corporate treasury strategy.
- The Company's treasury strategy incorporates the acquisition of certain crypto assets, including Bitcoin, Ethereum, and/or Solana.
- NextGen may allocate up to 80% of its treasury holdings to Crypto Assets.
- These digital assets are recognized by the Company as potential long-term stores of value and a hedge against systemic financial risk.
- All crypto assets will be custodied through a regulated, institutional-grade custodian and held in compliance with applicable laws and industry best practices.
- NextGen Digital Platforms Inc. has appointed Matthew Priebe as its new Chief Executive Officer, effective July 18, 2025.
- Mr. Priebe brings a decade of experience in alternative investments, capital markets, and digital assets, having held founding and leadership roles.
- Former Interim CEO, Alexander Tjiang, will transition from his role but remain a Director to continue providing strategic guidance.
- In connection with his appointment, Mr. Priebe was granted 300,000 stock options exercisable at $0.56 per common share and 350,000 restricted share units.
- NextGen Digital Platforms Inc. is conducting a non-brokered private placement to raise up to C$2,000,000 through the issuance of up to 2,000 special warrants.
- The offering will be funded by contributions of Bitcoin and/or Ethereum (Digital Assets), which will be held by a third-party custodian and subject to a first-priority security interest in favor of the noteholders.
- Each special warrant will convert into a $1,000 principal amount of 10.0% secured convertible notes that mature in one year and bear 10.0% interest per annum, payable at maturity.
- This initiative is a key milestone in NextGen's long-term corporate strategy, establishing a Bitcoin treasury and expanding its operations into the digital asset ecosystem for staking activities.
- The closing of the offering is expected to occur in Q3 2025.