Nextpower Inc.

Listed Company

NXTCIK 0001852131NasdaqLarge AcceleratedSemiconductors & Related DevicesDelawareFY ends Mar 31

Period

FY 2025

Revenue

$2.96B

Net Income

$509.17M

Total Assets

$3.19B

Equity

$1.63B

Shares Out

136.54M

Op. Cash Flow

$655.79M

Business

Nextpower Inc. is a solar technology platform provider that designs and supplies intelligent tracker systems for utility-scale and distributed solar power plants. It offers NX Horizon solar trackers, TrueCapture energy-yield management, NX Navigator plant monitoring and weather-mitigation tools, NX Foundation Solutions, electrical balance-of-systems (eBOS) components and related installation, licensing and maintenance services. Its business is organized around tracker products, energy-yield and operability software, foundation and eBOS solutions, research and development, and services. The company sells globally to EPCs, developers and plant owners across more than forty countries through regional sales teams, project-based contracts and multi-year volume agreements.

Summary from filing dated 2025-05-22

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	Mar 31, 2026 2026-03-31	Mar 31, 2025 2025-03-31	Mar 31, 2024 2024-03-31
Revenue	3,559	2,959	2,500
Cost of sales	2,399	1,950	1,687
Gross profit	1,160	1,009	813
Selling, general and administrative expenses	342	290	184
Research and development	121	79	42
Operating income	697	639	587
Interest expense	−3	−13	−14
Other income, net	19	22	35
Income before income taxes	714	648	608
Provision for income taxes	128	131	112
Net income	586	517	496
Less: Net income attributable to non-controlling interests	0	8	190
Net income attributable to Nextpower Inc.	586	509	306
Earnings per share attributable to Nextpower Inc. common stockholders	—	—	—
Basic (in USD per share)	3.96	3.55	3.97
Diluted (in USD per share)	3.84	3.47	3.37
Weighted-average shares used in computing per share amounts:	—	—	—
Basic (in shares)	148	144	77
Diluted (in shares)	153	149	147

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	Mar 31, 2026 2026-03-31	Mar 31, 2025 2025-03-31
ASSETS	—	—
Current assets:	—	—
Cash and cash equivalents	1,095	766
Accounts receivable, net of allowance of $2,078 and $1,472, respectively	417	472
Contract assets	533	406
Inventories	262	209
Section 45X credit receivable	353	216
Other current assets	186	88
Total current assets	2,847	2,158
Property and equipment, net	78	60
Goodwill	489	371
Other intangible assets, net	78	53
Deferred tax assets	512	499
Other assets	69	51
Total assets	4,073	3,193
LIABILITIES AND STOCKHOLDERS’ EQUITY	—	—
Current liabilities:	—	—
Accounts payable	533	585
Accrued expenses	130	97
Deferred revenue	307	247
Other current liabilities	193	104
Total current liabilities	1,164	1,034
Tax receivable agreement (TRA) liability	373	395
Long-term deferred revenue	102	97
Other liabilities	100	39
Total liabilities	1,739	1,564
Commitments and contingencies (Note 11)	—	—
Stockholders’ equity:	—	—
Class A common stock, $0.0001 par value, 900,000,000 shares authorized, 149,391,483 shares and 145,648,231 shares issued and outstanding, respectively	15,000	15,000
Additional paid-in-capital	4,306	4,186
Accumulated deficit	−1,972	−2,557
Accumulated other comprehensive loss	183,000	−298,000
Total stockholders’ equity	2,334	1,628
Total liabilities and stockholders’ equity	4,073	3,193

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	Mar 31, 2026 2026-03-31	Mar 31, 2025 2025-03-31	Mar 31, 2024 2024-03-31
Cash flows from operating activities:	—	—	—
Net income	586	517	496
Adjustments to reconcile net income to net cash provided by operating activities:	—	—	—
Depreciation and amortization of intangible assets	31	13	4
Provision for (recovery of) credit losses	606,000	−2	2
Non-cash other expense (income)	−25	−17	638,000
Debt extinguishment costs	−5	0	0
Amortization of debt issuance cost	1	2	571,000
Changes in fair value of contingent consideration	6	0	0
Stock-based compensation	120	119	57
Deferred income taxes	−223,000	−9	−38
Changes in operating assets and liabilities:	—	—	—
Accounts receivable	−62	48	114
Contract assets	126	9	99
Inventories	47	3	61
Section 45X credit receivable	267	92	125
Other current and noncurrent assets	94	−68	−21
Accounts payable	−49	103	245
Other current and noncurrent liabilities	242	−55	−42
Deferred revenue (current and noncurrent)	68	35	83
Net cash provided by operating activities	563	656	429
Cash flows from investing activities:	—	—	—
Payment for business acquisitions, net of cash acquired	117	145	0
Purchases of property and equipment	49	34	6
Purchase of equity method investment	12	0	0
Other investing activities	8	8	500,000
Net cash used in investing activities	−187	−186	−7
Cash flows from financing activities:	—	—	—
Repayments of bank borrowings	0	150	0
Payment of revolver issuance cost	2	6	0
TRA payment	27	16	0
Distribution to former non-controlling interest holders	3	6	67
Payment of acquisition deferred purchase price	−14	0	0
Repurchases of common stock	395,000	0	0
Net proceeds from issuance of Class A shares	0	0	552
Purchase of LLC common units from Yuma, Inc.	0	0	552
Net transfers to former parent	0	0	8
Other financing activities	0	0	−3
Net cash used in financing activities	−47	−178	−78
Net increase in cash and cash equivalents	329	292	344
Cash and cash equivalents end of period	—	—	—
Cash and cash equivalents end of period	—	—	—

Filings

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