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.