NXTNasdaqSemiconductors & Related DevicesUS GAAP · USD

Nextpower Inc.

Nextpower Inc. designs and supplies solar tracker systems and related solar technology for utility-scale power plants. The company operates through a global sales and project-delivery model, with products shipped to projects in more than forty countries and a customer base centered on EPCs, developers, and project owners.

Liikevaihto3 559milj. USD
+20,3 %v/v
Liikevoitto (EBIT)697milj. USD
+9,1 %v/v
EBIT-marginaali19,6%
−2,0 %-yks.v/v
Nettotulos586milj. USD
+15,1 %v/v
Vapaa kassavirta514milj. USD
−17,4 %v/v

Tilikausi 2026 · muutos edellisvuodesta

Kehitys 2021–2026

01 0002 0003 0004 000milj. USD2021: 1 196 milj. USD2021: EBIT 159 milj. USD20212022: 1 458 milj. USD2022: EBIT 66 milj. USD20222023: 1 902 milj. USD2023: EBIT 168 milj. USD20232024: 2 500 milj. USD2024: EBIT 587 milj. USD20242025: 2 959 milj. USD2025: EBIT 639 milj. USD20252026: 3 559 milj. USD2026: EBIT 697 milj. USD20263 559697
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Solar tracker systems70 %

Single-axis tracking hardware and control systems that orient panels toward the sun.

Energy yield management software10 %

Software and controls that optimize plant output and system performance.

Foundations and site infrastructure10 %

Foundation technologies and electrical balance-of-system components for solar plants.

Installation and lifecycle services10 %

Project support, commissioning, monitoring, and maintenance services.

Asiakkaat

The company sells primarily to EPCs that procure tracker systems for utility-scale solar projects, while also working with developers and long-term project owners. It often enters master supply agreements covering multiple projects, which makes it a strategic supplier across the project lifecycle rather than a one-time equipment vendor.

Engineering, procurement and construction (EPC) contractors

Primary buyers that source tracker systems and related equipment to build solar plants.

Solar developers

Buy equipment and technology for project development and bankability.

Project owners and independent power producers

Buy for long-term plant performance, reliability, and operating support.

Operations and maintenance providers

Use monitoring, training, and spare parts to maintain installed systems.

Strategia

The company’s strategy is to expand its solar technology platform beyond trackers by adding complementary products and services that improve installation speed, plant performance, and long-term reliability. It also emphasizes organic growth alongside disciplined M&A to broaden capabilities in foundations, electrical infrastructure, and lifecycle support.

Broaden the product platformKeskipitkä aikaväli

Adds more value per project and reduces reliance on a single product line.

Deepen lifecycle customer relationshipsLyhyt aikaväli

Support after sale improves retention and repeat business across markets.

Expand through disciplined M&AKeskipitkä aikaväli

Acquisitions can add adjacent technologies and accelerate platform breadth.

Maantiede

Q4/2025

Revenue is concentrated in the United States, which accounted for 69% of fiscal 2025 revenue, with the rest of the world contributing 31%. Outside the U.S., shipments are spread across India, Latin America, the Middle East, Europe, and other solar markets, and the company has products operating in more than forty countries.

USA81 %
Other countries (US filing)19 %

Osuus liikevaihdosta, jonka yhtiö raportoi maantieteellisesti.

Riskit

The business depends on utility-scale solar demand, project execution, and customer acceptance of a relatively specialized product set, so delays or policy changes can affect order flow. It also faces cybersecurity, intellectual property, supply chain, and quality-control risks, while international expansion adds regulatory and competitive complexity.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Solar demand depends on utility policy and project economics1Cybersecurity or data security incidents2Product development delays or quality control problems3Intellectual property disputes4Expansion into new markets5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Solar demand depends on utility policy and project economicsVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Tracker adoption is tied to solar project viability and electricity pricing.

    Kohdistuu: Utility-scale solar markets

  2. Cybersecurity or data security incidentsVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Connected systems and global operations create exposure to disruption and data loss.

    KohdistuuOperationsProduct systemsThird-party providers
  3. Product development delays or quality control problemsVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Tracker and related hardware must perform reliably in field conditions.

    Kohdistuu: Manufacturing and project delivery

  4. Intellectual property disputesVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    The market is patent-intensive and competitors may challenge technology use.

    Kohdistuu: Products and software

  5. Expansion into new marketsVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    New geographies bring regulatory, logistical, and competitive complexity.

    KohdistuuIndiaLatin AmericaMiddle EastEurope

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition timing

Product shipments and project milestones can shift revenue between periods.

Vaikutus: Affects quarterly comparability and reported growth

Warranty reserves

Tracker systems require field performance support and warranty coverage.

Vaikutus: Affects cost of sales and liabilities

Inventory obsolescence and credit losses

Hardware businesses must estimate excess stock and collectability.

Vaikutus: Affects earnings and working capital

Goodwill and intangible impairment

Acquisitions and developed technology create impairment risk if assumptions weaken.

Vaikutus: Affects balance sheet and non-cash charges

Tax receivable agreement liability

Future tax benefits and taxable income assumptions drive the recorded obligation.

Vaikutus: Affects liabilities and tax expense

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 24.9.2026