The company secured record fiscal year Q4 revenues in 2025, growing 26% year-over-year to $924 million.
U.S.-based solar tracker manufacturer Nextracker (Nasdaq: NXT) announced its Q4 fiscal year (FY) 2025 revenues for the quarter that ended March 31, 2025.
Despite ongoing market uncertainties related to clean energy tax credits and tariffs, the company delivered record results for FY Q4, reaching $924.3 million. This came in 11.6% higher than Wall Street consensus estimates and represented 26% year-over-year growth. The stock leapt roughly 11% in the trading day following the earnings report at the time of writing.
For the full FY 2025 the company achieved $3 billion in revenues, increasing 18% year-over-year, and increased its order backlog to about $4.5 billion.
“Nextracker completed a very strong financial year with record revenue and earnings, generating $622 million in free cash flow and ending the year with over $766 million in cash and no debt,” said Chuck Boynton, chief financial officer, Nextracker.
The company said it booked over 9 GW of orders for its NX Horizon Hail Pro-60 and Hail Pro-75 trackers and 17 GW of its NX Horizon-XTR series trackers in FY 2025.
Late in 2024 the company delivered its first 100% U.S.-made solar trackers. Nextracker began its U.S. manufacturing push in 2021 and together with contract manufacturing partners has since expanded or opened more than 25 U.S. factories with 30 GW of annual manufacturing capacity. Globally, the company is now operating in over 40 countries with over 90 global partner factory facilities and three research and development innovation centers.
The company also announced alongside its earnings call the launch of its electrical balance-of-systems (eBOS) business with the acquisition of Bentek Corporation. The all-cash transaction of approximately $78 million includes Bentek’s engineered, pre-assembled eBOS solutions with Nextracker’s solar tracker platform.
“As we continue to incorporate adjacent products and services around our core tracker technology, we are evolving Nextracker from a pure-play tracker supplier to a solar power platform company,” said Dan Shugar, chief executive officer, Nextracker.
The company guided for continued growth in FY 2026. It expects $3.2 billion to $3.4 billion in revenue and $445 million to $503 million in net income.
