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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.
| 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 | Major buyer of solar trackers and related solutions | All | FY23 revenue: $331.0 million (17.4% of total) ; FY22 revenue: $196.2 million (13.5% of total) ; 0% in FY24 ; A/R in FY24: 12.4%. |
Customer G | Major buyer of solar trackers and related solutions | All | FY24 revenue: $426.1 million (17.0% of total) ; A/R in FY24: 15.5%. |
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. |
No recent press releases or 8-K filings found for NXT.