NEXTracker, Inc. Class A ( (NXT) ) has released its Q3 earnings. Here is a breakdown of the information NEXTracker, Inc. Class A presented to its investors.
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Nextracker, Inc. Class A is a leading provider of solar tracker, foundation, and software solutions for utility-scale and distributed solar power plants. The company is well-known for its innovative technology that enhances solar plant performance by enabling solar panels to track the sun’s movement.
In its recent earnings report, Nextracker disclosed a 15% increase in revenue year-over-year, reaching approximately $2.0 billion. The company also reported a notable 48% growth in adjusted EBITDA, highlighting strong financial performance driven by robust global demand for its products.
Key financial metrics include an adjusted gross profit of $714 million and a free cash flow of $395 million year-to-date. The company also boasts a significant backlog exceeding $4.5 billion, indicating strong future demand. Nextracker has expanded its manufacturing capabilities and continues to innovate with new product launches such as the NX Horizon Hail Pro and NX Anchor.
Looking ahead, Nextracker remains optimistic about continued growth, supported by a robust backlog and increasing demand for solar solutions. The company aims to maintain its market position by leveraging its strong financial performance and strategic investments in research and development.