Nextpower Inc

nextpower.com

What Do They Do?

Sells solar tracking systems and structural, electrical, and digital technologies for utility-scale solar plants to engineering and construction firms, developers, and plant owners.

How Do They Make Money?

Customers are billed for tracker projects as work progresses, generally around shipments of project phases. Separately sold components are delivered in batches; extended warranties and maintenance are provided over their service terms.

FY2026 revenue

Who Are Their Customers?

EPC firms are direct customers on most projects; developers and plant owners also work with Nextpower under master supply agreements covering multiple projects. A small number of customers use its products for ground-mounted distributed-generation projects.

Do Revenues Turn Into Profits?

Yes. It kept 16 cents of every revenue dollar as net income in FY2026 and turned 14 cents into free cash flow.

Operating income, FY2026

20% of revenue

▲ +9% vs FY2025 ($639.1M, 22%)

Net income, FY2026

16% of revenue

▲ +15% vs FY2025 ($509.2M, 17%)

Free cash flow, FY2026

14% of revenue

▼ −17% vs FY2025 ($621.9M, 21%)

How Are They Changing?

Since the FY2026 annual report

Latest quarter: Q1 FY2027, the three months to Jul 3, 2026

Revenue: ▲ +8%; vs $864.3M in Q1 FY2026
Net income: ▲ +5%; vs $157.2M in Q1 FY2026

Jul 30, 2026 Raised annual outlook and completed Prevalon acquisition The revenue range moved to $4.1 to $4.4 billion from $4.0 to $4.4 billion.
Jun 22, 2026 Agreed to acquire Zimmermann PV-Steel Group The planned deal would add fixed-tilt, carport, high-density tracker, agriPV and floating solar products.

Growing. Revenue grew 2.4x in 4 years, from $1.5B in FY2022 to $3.6B in FY2026, about 25% a year.

Broader solar-plant offering The older report centers on solar trackers and software; the latest describes structural, electrical, and digital products across solar-plant design, construction, operations, and maintenance, framing the business as an end-to-end platform.