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.?
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.
- 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.
- Nextracker has been selected to supply its NX Horizon solar trackers for the 550 MW Oricheio PPC Ptolemaida solar photovoltaic park in Western Macedonia, Greece, which is one of Europe's largest solar projects.
- This project, which repurposes a former coal mine, is expected to provide nearly 1.8% of Greece's annual electricity needs and supports Greece's target of 82% renewable electricity generation by 2030.
- Nextracker delivered US-manufactured solar trackers in December 2024, and the project is in its final phase of construction as of mid-2025.
- Nextracker, recognized as the world's leading solar tracker manufacturer, is expanding its European operations through local manufacturing partnerships to meet increasing demand.
- Record Revenue & Profitability: Nextracker reported Q4 revenue of $924 million (up 26% YoY) and full-year revenue of approximately $3 billion (up 18% YoY), with Q4 adjusted EBITDA of $242 million (a 52% YoY increase) and robust free cash flow generation.
- Expanding Order Backlog & International Reach: The company maintained a strong order backlog exceeding $4.5 billion and expanded its international presence by signing contracts in 17 countries during Q4, reinforcing its market leadership.
- Strategic Platform Evolution & FY 2026 Guidance: Through acquisitions such as Bentek Corporation and earlier foundations deals, Nextracker is evolving from a pure-play tracker company, with FY 2026 guidance projecting revenue between $3.2B and $3.4B, adjusted EBITDA between $700M and $775M, and adjusted diluted EPS in the range of $3.65 to $4.03.