Solar tracker pioneer Nextracker posts strong Q3 FY25 financial results

Nextracker Inc., headquartered in the United States, has reported Q3 FY25 revenue of $679 million. Q3 FY24 revenue was $710 million. The company has improved its gross margin to 35.5%, up from 29.5% in the prior year. GAAP net income has reached $117 million, with a net income margin of 17.3%. The company has expanded its supply chain to over 70 partners operating across 19 countries, increasing total manufacturing capacity to 50 GW per year. Recent product launches have included NX Horizon Hail Pro for hail protection, NX Horizon-XTR for sloping terrain, and NX-Anchor for challenging geotechnical conditions. Based on its financial performance and backlog growth, Nextracker has reaffirmed its FY25 revenue forecast of $2.8 billion to $2.9 billion and projected GAAP net income between $467 million and $497 million.