"Our ability to consistently execute in challenging conditions speaks to the strength of our team, differentiated products and the quality of our customer relationships." - Dan Shugar
— Dan Shugar
03Detailed Report
NXT
Nextracker Inc
Period
Q1 2026
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedJun 22, 2026
Swipe to view all report sections
Executive Summary
Nextracker Inc reported remarkable financial results for Q1 2026, with a year-over-year revenue growth of 20% to reach $864 million, underpinned by strong demand for solar tracker solutions. The adjusted EBITDA rose by 23% to $215 million, reflecting improved operating efficiency and a robust margin of 25%. The company's backlog has surged to over $4.75 billion, indicating a solid demand outlook in an increasingly competitive market. CEO Dan Shugar highlighted the significance of recent legislative changes that have alleviated uncertainties in the solar manufacturing sector, showcasing Nextracker’s adeptness in navigating the evolving policy landscape.
Key Performance Indicators
Revenue
Increasing
864.25M
QoQ: -6.50% | YoY: 20.05%
Gross Profit
Increasing
281.73M
32.60% margin
QoQ: -7.84% | YoY: 18.65%
Operating Income
Increasing
186.23M
QoQ: -4.65% | YoY: 16.33%
Net Income
Increasing
157.18M
QoQ: 0.25% | YoY: 29.16%
EPS
Increasing
1.06
QoQ: -1.85% | YoY: 23.26%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue Performance: Q1 2026 revenue of $864 million, up 20% YoY from $719 million in Q1 2025. Q1 also saw a decrease of 6.5% QoQ due to typical seasonality after a strong previous quarter. The company achieved gross profit of $282 million, representing a gross margin of 32.6%. Profitability: Adjusted EBITDA increased 23% YoY, with an EBITDA margin of 25%. The net income for the quarter reached $157 million, reflecting a net margin of 18.2%, an increase from the previous year’s margin of 14.0%. Balance Sheet Health: Cash at the end of the period was $743 million, with no outstanding debt, underscoring a strong liquidity position. The debt-free status allows Nextracker to invest in strategic opportunities, including recent acquisitions in robotics and AI. Cash Flow: Generated $70 million in adjusted free cash flow, which was impacted by higher growth investments but still indicates strong operational cash generation capabilities.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
864.25M
20.05%
-6.50%
Gross Profit
281.73M
18.65%
-7.84%
Operating Income
186.23M
16.33%
-4.65%
Net Income
157.18M
29.16%
0.25%
EPS
1.06
23.26%
-1.85%
Key Financial Ratios
Management Insights Available for Members
Get exclusive access to management commentary, earnings call quotes, and forward guidance from company leadership.