Nextracker Inc.

Overview

Nextracker Inc., rebranded as Nextpower in November 2025, is a solar and energy technology company focused on utility-scale power plants. Its core business is solar tracking systems that orient photovoltaic panels toward the sun; its broader portfolio includes software and other technologies and services for solar project design, construction and operation.[1]+2

Founded in 2013, the company serves projects across six continents and had shipped more than 160 GW of tracker systems by March 31, 2026. For its latest completed reporting year, FY2026, it reported revenue of $3.559 billion. The company has described its mission as becoming the most trusted and valued renewable energy company by delivering intelligent, reliable and productive solar power.[4]+2 [2]+5

Products & services

Nextracker’s NX Horizon® is a single-axis solar tracker with a self-powered motor and control system, independent-row architecture, self-aligning module rails and vibration-proof fasteners. Its design supports commissioning before site power is available and operation in high winds and other adverse weather. Terrain-following models NX Horizon-XTR™ and XTR-1.5 adapt to uneven ground and can reduce or eliminate cut-and-fill earthworks, as well as reduce foundation lengths and materials.[7]+2

Weather-focused options include NX Horizon with Hail Pro™, which uses weather-service data to trigger automatic stowing, and Hail Pro-75™, which supports stow angles up to 75° for applicable extreme-hail sites. NX Horizon Low Carbon uses torque tubes made with recycled steel from electric arc furnace manufacturing and regional logistics, with third-party-verified lifecycle assessment documentation.[9][10]

Controls and software include Network Control Units and Smart Power Controls for plant control, monitoring and communications, and NX Navigator for centralized real-time visibility at site, subfield and tracker levels, remote monitoring, and one-click hurricane, typhoon and hail stow. TrueCapture is an energy-yield-management offering; its official datasheet states that it can increase annual plant output by up to 4%.[11]+4

NX Foundation Solutions includes NX Anchor™ and NX Earth Truss™ for a range of soil conditions, supported by geotechnical reviews, foundation design, equipment selection and installation support; Truss Driver® is among its installation equipment. Other services span site layout and design, wind and geotechnical studies, value engineering, project management, installation and commissioning, and ongoing technical support, monitoring, training, spare-parts management and maintenance. In FY2026, tracker-system sales represented approximately 88% of revenue and non-tracker sales—including TrueCapture, eBOS, foundations, robotic solutions and other offerings—approximately 12%; the filing does not provide individual product revenue shares.[16]+2 [7]+12

Geographic presence

Nextracker Inc. (renamed Nextpower Inc. in November 2025) operates and sells across the United States, Brazil, Argentina, Peru, Mexico, Spain and other markets in Europe, India, Australia, the Middle East and Africa. At March 31, 2026, it served more than 275 active customers across over 40 countries.[18]+2

For FY2026, revenue was $2.731 billion from the United States (77% of total) and $828.7 million from the Rest of the World (23%). The company reports international revenue as a combined region rather than by individual country.[21]

Its headquarters are in Fremont, California. As of March 31, 2026, the company reported about 1,993 full-time employees across eight global offices; Spain and Brazil together accounted for approximately 15% of employees. Office space is located in California, Tennessee, Australia, Brazil, China, India, Israel, Mexico and Spain, while warehouse space is located in California, Nevada, Brazil, China and India. The company also has a research facility in Paterson, California, and a Saudi joint venture headquartered in Riyadh, established to serve the Middle East and North Africa.[22]+3 [18]+10

Business segments

Nextracker reports one operating and reportable segment, rather than separate segments for its products or services. The company describes this business as an integrated utility-scale solar technology platform spanning solar trackers, electrical infrastructure, software and controls, power-conversion technologies, and software-driven AI, automation, and robotics.[26]+2

For the fiscal year ended March 31, 2026, the single reportable segment accounted for approximately 100% of consolidated revenue: $3,559.4 million. The company does not separately disclose revenue contributions for individual product areas such as trackers, eBOS, foundations, software, or robotics.[28] [26]+3

Company history

Dan Shugar founded Nextracker in July 2013 and remained its chief executive; Flex acquired the company in 2015.[29][30] In 2022, Nextracker introduced NX Horizon-XTR, a terrain-following solar tracker.[31]

Nextracker completed its initial public offering in February 2023, with shares beginning to trade on Nasdaq on February 9.[32] Flex completed the spin-off of its remaining interest on January 2, 2024, making Nextracker an independent company.[33] In 2024, the company expanded into solar foundations through its acquisitions of Ojjo and Solar Pile International’s foundations business, and introduced NX Foundation Solutions.[34]+2

In 2025, acquisitions of Bentek, OnSight and Origami Solar broadened the company’s offerings into electrical infrastructure, robotic inspection and steel solar-panel frames.[37]+2 That year it also introduced its NX PowerMerge electrical balance-of-systems product and changed its name to Nextpower.[40]+2 [29]+13

Sources

• investors.nextracker.com[1]
• Nextracker Inc. — Full financial report (2026 Y)
  28 citations

  [2][3][4][7][8][9][10][11][12][13][14][16][17][18][19][20][21][22][23][24][25][27][28][35][37][38][39][41]
• investors.nextracker.com[5]
• Nextracker Inc. — Transcript (2024 Y)[6]
• info.nextracker.com[15]
• Nextracker Inc. — Full financial report (2027 Q 1)[26]
• Nextracker Inc. — Ipo (2023 O)
  3 citations

  [29][30][32]
• investors.nextracker.com[31]
• investors.nextracker.com[33]
• investors.nextracker.com[34]
• investors.nextracker.com[36]
• investors.nextracker.com[40]