NXT · Nextpower Inc.

Nextpower Inc. reported record fiscal year 2026 revenue of $3.56 billion, a 20% increase year-over-year, driven by strong execution and bookings momentum. Q4 FY26 revenue was $881 million, slightly down from $909 million in Q3 and $924 million in the same quarter last year. GAAP gross margin improved to 33.8% from 31.7% in Q3, while adjusted gross margin rose to 34.5%. GAAP net income was $151 million ($0.97 diluted EPS) compared to $131 million ($0.85) in Q3 and $158 million ($1.05) in Q4 last year. Adjusted EBITDA was $202 million (22.9% margin), down from $214 million (23.5%) in Q3 and $242 million (26.2%) in the prior year quarter. The company highlighted record backlog of over $5.25 billion, surpassing 160 GW cumulative tracker shipments, and increased adoption of new products like eBOS, foundations, and robotics. Management raised FY27 guidance: revenue $3.8-$4.1 billion (up from $3.6-$3.8 billion), GAAP net income $501-$559 million, GAAP diluted EPS $3.19-$3.56, adjusted EBITDA $825-$900 million, and adjusted diluted EPS $4.21-$4.59. The guidance includes ~$50 million incremental costs for power conversion market entry. Separately, the company announced the appointment of Robert Vinje as COO effective June 15, 2026, with Marco Miller transitioning to Chief Project Development Officer. Vinje brings extensive operational experience from SOLARCYCLE, Amazon, and SunPower. His compensation includes a $475,000 base salary, 70% target bonus, $4 million equity award (50% RSUs, 50% PSUs), and a $250,000 sign-on cash award subject to repayment if he leaves within 12 months.