Tue, May 28, 9:21 PM (296 days ago)
Nextracker Inc. (NXT) filed its annual report for the fiscal year ended March 31, 2024. The company, a leading provider of integrated solar tracker and software solutions, reported significant growth in financial performance. Key highlights include: - **Revenue**: $2.5 billion, up from $1.9 billion in 2023 and $1.5 billion in 2022. - **Gross Profit**: $813 million, up from $287 million in 2023. - **Net Income**: $496.2 million, up from $121.3 million in 2023. - **Operating Income**: $587.1 million, up from $168.5 million in 2023. - **Adjusted EBITDA**: $521.5 million, up from $209 million in 2023. The company achieved a net income margin of 19.8%, reflecting strong profitability. Strategic initiatives included expanding their U.S. supply chain in response to global logistics challenges and anticipated federal legislation incentives. Nextracker also launched new products like NX Horizon Low Carbon to reduce the carbon footprint. Looking ahead, the company faces risks from regulatory changes, competitive pressures, and supply chain dependencies. However, it remains well-positioned in the growing solar energy market, with a backlog exceeding $4 billion, indicating strong future revenue potential.