Nextpower Lifts Fiscal 2027 Revenue Outlook After Record Quarter

The Tip Desk · November 2, 2026 · 2 min read

The clean-power technology company posted record revenue of $1,109 million and raised its fiscal 2027 revenue outlook to $4.2 billion to $4.45 billion.

Nextpower (NXT), a provider of clean power technology solutions, reported record revenue of $1,109 million for the second quarter of fiscal 2027, ended October 2, 2026, and lifted its full-year revenue outlook.

The quarter’s sales were 18.6% higher than the $935 million recorded in the immediately preceding quarter. GAAP net income was $165 million, or $1.08 a share, and adjusted diluted earnings were $1.31 a share.

Bookings reached a quarterly record and backlog exceeded $6 billion, up from more than $5.5 billion after the first quarter. Chief executive Dan Shugar said the results reflected continued demand for tracker products and accelerating orders for additional products and services. Energy storage and other complementary offerings accounted for approximately 22% of second-quarter revenue. eBOS bookings exceeded $100 million, a quarterly record, and foundations also posted record quarterly bookings. The company secured a 1.1 GW inverter framework agreement across five projects and shipped first NX Power Conversion systems to customers.

GAAP gross profit increased to $345 million from $336 million, but GAAP gross margin compressed to 31.1% from 35.9% in the prior quarter. Adjusted EBITDA rose to $250 million from $233 million, with adjusted EBITDA margin at 22.5%. GAAP net income margin fell to 14.9% from 17.7%. Results included approximately $99 million of IRA 45X advanced manufacturing tax credit vendor rebates and tariffs, net, matching the prior quarter.

Nextpower completed the Zimmermann PV-Steel Group acquisition for approximately €230 million, subject to customary working capital adjustments, with no stock or earnout. The deal added fixed-tilt and structural solutions and expanded the company’s reach to 68 countries. NX PowerMerge, now in commercial deployment, had more than 2 GW in backlog.

Cash flow from operations was $158 million and adjusted free cash flow was approximately $135 million. The company ended the quarter with over $1 billion of cash and cash equivalents and no debt, and returned approximately $162 million to shareholders through share repurchases.

The company raised its fiscal 2027 revenue outlook to $4.2 billion to $4.45 billion from $4.1 billion to $4.4 billion. GAAP net income is now expected at $559 million to $598 million, GAAP diluted EPS at $3.62 to $3.87, and adjusted EBITDA at $890 million to $940 million. Adjusted diluted EPS is expected at $4.61 to $4.87. The updated outlook includes third-quarter fiscal 2027 revenue at approximately 10% year-over-year growth and third-quarter adjusted EBITDA margin roughly 1 to 2 percentage points below fourth-quarter fiscal 2027.

Nextpower said it looks forward to sharing more about its long-term strategy and financial framework at a Capital Markets Day in Las Vegas on November 16.