Nextpower Inc. NXT
We envision a world electrified by clean energy.
Our mission is to be the trusted partner delivering the world's most intelligent, reliable, and productive clean-power technology.
We are a leading global provider of solar and energy technology solutions for utility-scale power plants. Founded in 2013 by our Chief Executive Officer, Dan Shugar, we pioneered and remain the global market leader in solar tracking systems. We now deliver an integrated suite of structural, electrical, and digital solutions across the full lifecycle of solar power plants, from design and construction through operations and maintenance. Our integrated solutions are designed to streamline project execution, increase energy yield and long-term reliability, and enhance customer return on investment ("ROI").
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $3.56B | $2.96B | $2.50B | $1.90B | $1.46B | $1.20B | — |
| Cost of revenue | $2.40B | $1.95B | $1.69B | $1.62B | $1.31B | $963.6M | — |
| Gross profit | $1.16B | $1.01B | $813.0M | $287.0M | $147.0M | $232.0M | — |
| R&D | $120.9M | $79.4M | $42.4M | $21.6M | $14.2M | $13.0M | — |
| SG&A | $341.9M | $290.3M | $183.6M | $96.9M | $66.9M | $60.4M | — |
| Operating income | $697.3M | $639.1M | $587.1M | $168.5M | $65.9M | $158.5M | — |
| Pre-tax income | $713.8M | $648.0M | $608.0M | $169.1M | $65.1M | $158.0M | — |
| Income tax | $127.9M | $130.8M | $111.8M | $47.8M | $14.2M | $33.7M | — |
| Net income | $585.9M | $517.2M | $496.2M | $121.3M | $0 | $0 | — |
| EPS, basic | 3.96 | 3.55 | 3.97 | 0.02 | — | — | — |
| EPS, diluted | 3.84 | 3.47 | 3.37 | 0.02 | — | — | — |
| Shares, diluted (wtd. avg.) | $152.7M | $149.3M | $147.3M | $145.9M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.09B | $766.1M | $474.1M | $130.0M | $29.1M | $190.6M | $3.0M |
| Receivables | $417.0M | $472.5M | $382.7M | $271.2M | $168.3M | — | — |
| Inventory | $262.3M | $209.4M | $201.7M | $138.1M | $172.2M | — | — |
| Total current assets | $2.85B | $2.16B | $1.77B | $872.3M | $714.1M | — | — |
| Property, plant and equipment | $78.4M | $60.4M | $9.2M | $7.3M | $7.4M | — | — |
| Goodwill | $488.9M | $371.0M | $265.2M | $265.2M | $265.2M | — | — |
| Other intangibles | $78.0M | $53.2M | $1.5M | $1.3M | $2.5M | — | — |
| Total assets | $4.07B | $3.19B | $2.52B | $1.42B | $1.02B | — | — |
| Accounts payable | $533.5M | $585.3M | $456.6M | $211.4M | $266.6M | — | — |
| Short-term debt | — | $0 | $3.8M | — | — | — | — |
| Total current liabilities | $1.16B | $1.03B | $891.5M | $507.4M | $473.4M | — | — |
| Long-term debt | — | $0 | $144.0M | $147.1M | $0 | — | — |
| Total liabilities | $1.74B | $1.56B | $1.53B | $934.8M | $516.2M | — | — |
| Retained earnings | -$1.97B | -$2.56B | -$3.07B | -$3.08B | $0 | — | — |
| Total equity | $2.33B | $1.63B | $992.0M | -$3.08B | $0 | $0 | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $562.9M | $655.8M | $429.0M | $107.7M | -$147.1M | $94.3M | — |
| Depreciation and amortisation | $30.6M | $13.4M | $4.4M | $4.6M | $11.1M | $16.8M | — |
| Stock-based compensation | $120.3M | $118.9M | $56.8M | $32.0M | $3.0M | $4.3M | — |
| Capital expenditure | $49.3M | $33.9M | $6.2M | $3.2M | $5.9M | $2.5M | — |
| Investing cash flow | -$186.9M | -$186.1M | -$6.7M | -$3.2M | -$5.8M | -$3.0M | — |
| Financing cash flow | -$47.2M | -$177.6M | -$78.3M | -$3.6M | -$8.7M | $96.3M | — |
| Buybacks | $395.0K | $0 | $0 | $693.8M | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001852131-26-000038.
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