Nextracker (NXT) is a publicly traded Solar Balance-of-System company founded in 2013 and based in Fremont, USA.
| Date | Stage | Amount | Valuation | Lead investors |
|---|---|---|---|---|
| Feb 8, 2023 | IPO | $693.8M | — | — |
Nextpower (NXT) reported Q1 FY2027 revenue of $935M, up 8.2% from $864M in Q1 FY2026. GAAP net income was $165M (17.7% margin) versus $157M (18.2% margin) year-over-year; diluted EPS was $1.07 versus $1.04. Adjusted gross margin expanded 160 basis points to 36.6% from 33.0%, while adjusted EBITDA margin held flat at 24.9%. The company closed acquisitions in power conversion (Prevalon, Apex, Zigor assets) and announced Zimmermann PV-Steel acquisition. Backlog grew to over $5.5B, with eBOS on track to exceed $100M revenue this year and PowerMerge cumulative bookings over 850 MW. Global tracker market share strengthened across 50+ countries. FY2027 guidance raised to $4.1–4.4B revenue (prior: $4.0–4.4B) and $3.42–3.64 GAAP diluted EPS (prior: $3.22–3.64).
FY2027 revenue $4.1–4.4B; GAAP diluted EPS $3.42–3.64

Section 232 tariffs could raise U.S. module prices by roughly $0.14/W, forcing project PPA renegotiations.

US imposes 15% tariff on all silicon ingot, wafer, cell and module imports and minimum import prices for polysilicon, the most aggressive solar trade action yet.
The industry's most widely deployed utility-scale single-axis solar tracker, designed for flat and gently sloped terrain. Uses independent-row architecture so each row tracks the sun autonomously, eliminating system-wide failures from single points of failure. Compatible with all major module formats and optimized to reduce balance-of-system costs. Over 80 GW shipped globally as of 2025, making it the market-share leader in solar trackers.
Terrain-following variant of NX Horizon built for sites with challenging slopes, uneven ground, or complex topography previously inaccessible to traditional trackers. Each motor-drive unit adjusts independently to follow contours, enabling deployment on 15–25% grade terrain without expensive grading. Expands the addressable land footprint for utility-scale solar development and reduces site preparation costs significantly.
AI-powered yield optimization and control software that runs on Nextracker hardware to maximize energy harvest at the row level. Uses site-specific irradiance data and machine learning to implement dynamic backtracking modes — including Zonal Diffuse Mode and Split Boost Row-to-Row Mode — that capture diffuse light other trackers miss. Field deployments have demonstrated 1–3% energy gains above standard tracking algorithms.
49 patents on file, but none with both an extractable figure and an abstract on Google Patents yet.
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