U.S.-based solar tracker firm Nextpower reported revenue of $909 million for the third quarter (Q3) of the financial year (FY) 2026, a 34% year-over-year (YoY) increase from $679 million.

The revenue exceeded analysts’ expectations by $93.49 million.

Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) totaled $214 million, up 15.1% from $186 million in the same quarter of the previous year.

Net profit grew 12% YoY to $131 million from $117 million in Q3 FY 2025.

Earnings per share (EPS) came in at $0.85, compared to an EPS of $0.79 in the same period of the previous year. Its EPS beat analysts’ revenue expectations by $0.16.

In Q2 FY 2026, the company reported revenue of $905.27 million, a 4.74% quarter-over-quarter rise from $864 million and a 42.3% YoY increase from $636 million.

9M Results

Nextracker, which changed its corporate name to Nextpower in November 2025. reported revenue of $2.68 billion in the first nine months (9M) of FY 2026, representing a 31.6% YoY increase from $2.03 billion.

Net profit stood at $435.3 million, up 21.1% jump from $359.4 million from the same period last year.359.4

The company’s adjusted EBITDA during this period stood at $651.9 million, up 22% YoY from $534 million in 9M FY 2025.

EPS came in at $2.86, compared to an EPS of $2.41 during 9M FY 2025.

Business Highlights

Nextpower achieved a record backlog and order booking in Europe. The company also expanded its global footprint in two new countries.

The company said U.S. bookings were up, and revenue increased 63% YoY.

In January 2026, Nextpower formed a joint venture with Abunayyan Holding to address the rapidly growing utility-scale solar market in the Middle East and North Africa region and secured a 2.25 GW supply commitment for its solar tracking systems for the Bisha Solar Project.

Together with Abunayyan Holding, NextPower plans to support local manufacturing of up to 12 GW of solar trackers annually.

The company said it has an existing factory in Riyadh and is constructing a new factory in Jeddah.

During the quarter, Nextpower also acquired Fracsun, a differentiated panel soiling measurement and SaaS platform enabling end-to-end, real-time soiling monitoring and robotic cleaning solutions.

The company’s board also approved a share repurchase program to repurchase up to an aggregate of $500 million of Nextpower’s outstanding shares of Class A common stock.

Nextpower said that U.S. import tariffs on foreign-made tracker components continued to affect margins. In Q3, the tariff impact was $44 million, up from $33 million in the prior quarter.

The company said the increase was due to the partial impact in Q2, given that the new tariffs took effect on August 15.

Outlook

Nextpower revised its revenue outlook to $3.43 billion to $3.5 billion, up from its previous outlook of $3.28 billion to $3.48 billion.

Revised net income stood at $525 to $540 million, up from its earlier projections of $499 to $529 million.

The company also revised its adjusted EBITDA to $810 to $830 million, up from $775 to $815 million last year.