Nextpower Reports Third Quarter Fiscal Year 2026 Financial Results
Raises FY26 Financial Outlook on Strong Execution and Bookings
Achieves Investment Grade Rating, Announces Share Buyback Program
Financial Summary (In millions, except per share) |
|||
|
Q3 FY26 |
Q2 FY26 |
Q3 FY25 |
Revenue |
|
|
|
GAAP Gross Profit |
|
|
|
GAAP Gross Margin |
31.7 % |
32.4 % |
35.5 % |
GAAP Net Income |
|
|
|
GAAP Net Income Margin |
14.4 % |
16.2 % |
17.3 % |
GAAP Diluted EPS |
|
|
|
|
|
|
|
Adjusted Gross Profit |
|
|
|
Adjusted Gross Margin |
32.4 % |
33.1 % |
36.0 % |
Adjusted EBITDA |
|
|
|
Adjusted EBITDA Margin |
23.5 % |
24.7 % |
27.4 % |
Adjusted Net Income |
|
|
|
Adjusted Diluted EPS |
|
|
|
Q3 FY26, Q2 FY26, and Q3 FY25 results include approximately
Please refer to Nextpower’s most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K for more information and schedules III, IV and V attached to this press release for a reconciliation of non-GAAP to GAAP financial measures. Additional information can be found on the Investor Relations section of our website.
Third Quarter Fiscal Year 2026 Financial Highlights:
-
Revenue of
$909 million 34% YoY -
GAAP gross profit of
$288 million 20% YoY and GAAP operating income of$176 million 17% YoY -
Adjusted gross profit of
$295 million 20% YoY and adjusted EBITDA of$214 million 15% YoY -
Operating cash flow of
$391 million $953 million - Achieved an investment grade credit rating from Fitch, reflecting strong cash flow generation, disciplined financial management, and balance sheet strength
-
Authorized a share repurchase program for repurchase of up to
$500 million
Business Highlights:
-
Corporate Updates
- Rebranded the company to Nextpower at our inaugural Capital Markets Day, reflecting our evolution from a pure-play tracking systems supplier to an end-to-end solar technology platform
-
Expanded
U.S. operations, opening our Southeast operations hub featuring a new Remote Monitoring Center, and grew domestic tracker manufacturing capacity - Achieved upgraded ISS Corporate ESG rating to Prime status, recognizing performance that meets or exceeds ISS STOXX’s sustainability requirements and above industry average
-
Market Momentum
-
Achieved record backlog, driven by strength in the
U.S. and record bookings inEurope , and expanded our global footprint further in two new countries -
Launched NX Earth TrussTM in
Australia , marking an important step in the international expansion of our technology platform -
Completed the formation of our Nextpower Arabia joint venture in January 2026 that addresses the rapidly growing utility-scale solar market in the
Middle East andNorth Africa (MENA) region - Secured a 2.25 GW supply commitment for advanced solar tracking systems through Nextpower Arabia for the Bisha Solar Project, one of the world’s largest utility-scale solar power plants
-
Achieved record backlog, driven by strength in the
-
Products and Innovation
-
Increased bookings for bundled offers, including a 552 MW project in Cold Creek,
Texas , incorporating NX Horizon Hail ProTM tracker systems, eBOS, NX Earth Truss, and TrueCapture® into a cohesive integrated solution - Announced an innovative power conversion solutions roadmap for utility-scale solar and energy storage systems
- Acquired Fracsun, a differentiated panel soiling measurement and SaaS platform enabling end-to-end, real-time soiling monitoring and robotic cleaning solutions to further enhance customer returns
-
Increased bookings for bundled offers, including a 552 MW project in Cold Creek,
“Customer response to our expanding product offerings and rebrand has been very favorable,” said Dan Shugar, founder and CEO of Nextpower. “We delivered solid financial performance in our first quarter as Nextpower, with strong demand across our business lines and a record backlog. The demand environment remains robust in the
“Our strong financial performance and disciplined capital allocation continue to strengthen Nextpower’s financial position,” said Chuck Boynton, chief financial officer of Nextpower. “We achieved an investment grade credit rating and announced a share repurchase program with authorization for repurchase of up to
Share Repurchase Program:
As we announced in our current report on Form 8-K today, our board of directors approved a share repurchase program to repurchase up to an aggregate of
The share repurchase program has a term of three years and may be modified, suspended, or terminated at any time. The number of shares to be repurchased and the timing of repurchases will be determined by the company in its discretion and will depend on a number of factors, including, but not limited to, stock price, trading volume, and general market conditions, along with Nextpower’s working capital requirements, general business conditions, and other factors. The execution of the share repurchase program will depend on the market price of our common stock and other factors, and there can be no assurance that any shares will be purchased under the share repurchase program.
FY2026 Annual Outlook Raised FY26 revenue and profitability ranges |
||
|
Updated Outlook |
Previous Outlook |
Revenue |
|
|
GAAP Net Income |
|
|
GAAP Diluted EPS |
|
|
Adjusted EBITDA |
|
|
Adjusted Diluted EPS |
|
|
Adjusted EBITDA range of
Adjusted Diluted EPS range of
Our outlook assumes the current
Q3 FY26 Earnings Call
January 27, 2026
2:00 p.m. PT / 5:00 p.m. ET
Live webcast available on investors.nextpower.com
We encourage you to review our Q3 FY26 Shareholder Letter, which, along with this press release, is available on the Nextpower Investor Relations website and includes important information for Nextpower shareholders that supplements and expands on the information in this press release.
The webcast replay will be available on the Nextpower Investor Relations website following the conclusion of the event.
About Nextpower
NextpowerTM (Nasdaq: NXT, formerly Nextracker) designs, engineers, and delivers an advanced energy technology platform for solar power plants, innovating across structural, electrical, and digital domains. Our integrated solutions are designed to streamline project execution, increase energy yield and long-term reliability, and enhance customer ROI. Building on over a decade of technology and market leadership, the company delivers intelligent power generation systems and services to meet rapidly expanding global electricity demand. Nextpower partners with the world’s leading energy companies to power what’s next. Learn more at www.nextpower.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation statements relating to the trends for energy demand and future solar adoption, benefits of our recent acquisitions (including the benefits our customers may realize as a result of integrating these businesses into Nextpower’s), the demand for our products (including our eBOS solutions, our other products and our bundled solutions), our bookings and backlog, including our ability to convert our backlog into revenue, the anticipated benefits of our joint venture and expansion of our operations in the
Use of Adjusted Financial Information
An explanation and reconciliation of non-GAAP financial measures to GAAP financial measures is presented in Schedules III, IV and V attached to this press release, and can be found, along with other financial information including the Earnings Presentation, on the investor relations section of our website at investors.nextpower.com.
Channels for Disclosure of Information
Nextpower intends to announce material information to the public through the Nextpower Investor Relations website, investors.nextpower.com, SEC filings, press releases, public conference calls, and public webcasts. Nextpower uses these channels to communicate with its investors, customers, and the public about the company, its offerings, and other issues. As such, Nextpower encourages investors, the media, and others to follow the channels listed above and to review the information disclosed through such channels.
Schedule I |
|||||||||||
Nextpower Inc. Unaudited condensed consolidated statements of operations (In thousands, except per share data) |
|||||||||||
|
Three-month periods ended |
||||||||||
|
December 31, 2025 |
|
September 26, 2025 |
|
December 31, 2024 |
||||||
Revenue |
$ |
909,352 |
|
|
$ |
905,268 |
|
|
$ |
679,363 |
|
Cost of sales |
|
621,220 |
|
|
|
612,408 |
|
|
|
438,460 |
|
Gross profit |
|
288,132 |
|
|
|
292,860 |
|
|
|
240,903 |
|
Selling, general and administrative expenses |
|
82,733 |
|
|
|
84,626 |
|
|
|
70,573 |
|
Research and development |
|
29,294 |
|
|
|
26,889 |
|
|
|
20,094 |
|
Operating income |
|
176,105 |
|
|
|
181,345 |
|
|
|
150,236 |
|
Interest expense |
|
339 |
|
|
|
730 |
|
|
|
3,798 |
|
Other income, net |
|
(4,733 |
) |
|
|
(2,110 |
) |
|
|
(13,778 |
) |
Income before income taxes |
|
180,499 |
|
|
|
182,725 |
|
|
|
160,216 |
|
Provision for income taxes |
|
49,263 |
|
|
|
35,864 |
|
|
|
42,842 |
|
Net income |
|
131,236 |
|
|
|
146,861 |
|
|
|
117,374 |
|
Less: Net income attributable to non-controlling interests |
|
— |
|
|
|
— |
|
|
|
2,091 |
|
Net income attributable to Nextpower Inc. |
$ |
131,236 |
|
|
$ |
146,861 |
|
|
$ |
115,283 |
|
|
|
|
|
|
|
||||||
Earnings per share attributable to Nextpower Inc. common stockholders |
|
|
|
|
|
||||||
Basic |
$ |
0.88 |
|
|
$ |
0.99 |
|
|
$ |
0.80 |
|
Diluted |
$ |
0.85 |
|
|
$ |
0.97 |
|
|
$ |
0.79 |
|
Weighted-average shares used in computing per share amounts: |
|
|
|
|
|
||||||
Basic |
|
148,414 |
|
|
|
148,028 |
|
|
|
143,664 |
|
Diluted |
|
153,921 |
|
|
|
152,018 |
|
|
|
149,028 |
|
Nextpower Inc. Unaudited condensed consolidated statements of operations (continued) (In thousands, except per share data) |
|||||||
|
Nine-month periods ended |
||||||
|
December 31, 2025 |
|
December 31, 2024 |
||||
Revenue |
$ |
2,678,873 |
|
|
$ |
2,034,855 |
|
Cost of sales |
|
1,816,155 |
|
|
|
1,331,717 |
|
Gross profit |
|
862,718 |
|
|
|
703,138 |
|
Selling, general and administrative expenses |
|
241,295 |
|
|
|
203,527 |
|
Research and development |
|
77,743 |
|
|
|
55,806 |
|
Operating income |
|
543,680 |
|
|
|
443,805 |
|
Interest expense |
|
2,285 |
|
|
|
10,743 |
|
Other income, net |
|
(12,796 |
) |
|
|
(16,292 |
) |
Income before income taxes |
|
554,191 |
|
|
|
449,354 |
|
Provision for income taxes |
|
118,911 |
|
|
|
89,922 |
|
Net income and comprehensive income |
|
435,280 |
|
|
|
359,432 |
|
Less: Net income attributable to non-controlling interests |
|
— |
|
|
|
7,058 |
|
Net income attributable to Nextpower Inc. |
$ |
435,280 |
|
|
$ |
352,374 |
|
|
|
|
|
||||
Earnings per share attributable to Nextpower Inc. common stockholders |
|
|
|
||||
Basic |
$ |
2.94 |
|
|
$ |
2.46 |
|
Diluted |
$ |
2.86 |
|
|
$ |
2.41 |
|
Weighted-average shares used in computing per share amounts: |
|
|
|
||||
Basic |
|
147,806 |
|
|
|
143,102 |
|
Diluted |
|
152,062 |
|
|
|
149,134 |
|
Schedule II |
|||||
Nextpower Inc. Unaudited condensed consolidated balance sheets (In thousands) |
|||||
|
As of December 31, 2025 |
|
As of March 31, 2025 |
||
ASSETS |
|||||
Current assets: |
|
|
|
||
Cash and cash equivalents |
$ |
952,624 |
|
$ |
766,103 |
Accounts receivable, net of allowance of |
|
452,235 |
|
|
472,462 |
Contract assets |
|
443,358 |
|
|
405,890 |
Inventories |
|
275,292 |
|
|
209,432 |
Section 45X credit receivable |
|
301,149 |
|
|
215,616 |
Other current assets |
|
134,941 |
|
|
88,483 |
Total current assets |
|
2,559,599 |
|
|
2,157,986 |
Property and equipment, net |
|
84,752 |
|
|
60,395 |
Goodwill |
|
485,300 |
|
|
371,018 |
Other intangible assets, net |
|
80,577 |
|
|
53,241 |
Deferred tax assets |
|
517,646 |
|
|
498,778 |
Other assets |
|
72,192 |
|
|
51,098 |
Total assets |
$ |
3,800,066 |
|
$ |
3,192,516 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|||||
Current liabilities: |
|
|
|
||
Accounts payable |
$ |
560,075 |
|
$ |
585,299 |
Accrued expenses |
|
106,573 |
|
|
97,000 |
Deferred revenue |
|
321,882 |
|
|
247,127 |
Other current liabilities |
|
96,242 |
|
|
104,086 |
Total current liabilities |
|
1,084,772 |
|
|
1,033,512 |
Tax receivable agreement (TRA) liability |
|
371,179 |
|
|
394,879 |
Long-term deferred revenue |
|
97,580 |
|
|
96,635 |
Other liabilities |
|
95,665 |
|
|
39,360 |
Total liabilities |
|
1,649,196 |
|
|
1,564,386 |
Total stockholders’ equity |
|
2,150,870 |
|
|
1,628,130 |
Total liabilities and stockholders’ equity |
$ |
3,800,066 |
|
$ |
3,192,516 |
Schedule III |
|||||||
Nextpower Inc. Unaudited condensed consolidated statements of cash flows (In thousands) |
|||||||
|
Nine-month periods ended |
||||||
|
December 31, 2025 |
|
December 31, 2024 |
||||
Cash flows from operating activities: |
|
|
|
||||
Net income |
$ |
435,280 |
|
|
$ |
359,432 |
|
Depreciation and amortization of intangible assets |
|
21,586 |
|
|
|
8,299 |
|
Changes in working capital and other, net |
|
(65,383 |
) |
|
|
50,736 |
|
Net cash provided by operating activities |
|
391,483 |
|
|
|
418,467 |
|
Cash flows from investing activities: |
|
|
|
||||
Purchases of property and equipment |
|
(31,463 |
) |
|
|
(23,841 |
) |
Payment for acquisitions, net of cash acquired |
|
(124,112 |
) |
|
|
(144,675 |
) |
Other investing activities |
|
(2,747 |
) |
|
|
— |
|
Net cash used in investing activities |
|
(158,322 |
) |
|
|
(168,516 |
) |
Cash flows from financing activities: |
|
|
|
||||
Repayment of bank borrowings |
|
— |
|
|
|
(2,813 |
) |
Payment of revolver issuance costs |
|
(1,993 |
) |
|
|
(6,017 |
) |
TRA payment |
|
(27,427 |
) |
|
|
(15,520 |
) |
Distribution to former non-controlling interest holder |
|
(3,010 |
) |
|
|
(6,112 |
) |
Payment of acquisition deferred purchase price |
|
(14,210 |
) |
|
|
— |
|
Net cash used in financing activities |
|
(46,640 |
) |
|
|
(30,462 |
) |
Net increase in cash and cash equivalents |
|
186,521 |
|
|
|
219,489 |
|
Cash and cash equivalents beginning of period |
|
766,103 |
|
|
|
474,054 |
|
Cash and cash equivalents end of period |
$ |
952,624 |
|
|
$ |
693,543 |
|
|
Nine-month periods ended |
||||||
Adjusted free cash flow |
December 31, 2025 |
|
December 31, 2024 |
||||
Net cash provided by operating activities |
$ |
391,483 |
|
|
$ |
418,467 |
|
Purchases of property and equipment |
|
(31,463 |
) |
|
|
(23,841 |
) |
Adjusted free cash flow |
$ |
360,020 |
|
|
$ |
394,626 |
|
Schedule IV |
||||||||||||||||||||
Nextpower Inc. Reconciliation of GAAP to Non-GAAP financial measures (In thousands, except percentages and per share data) |
||||||||||||||||||||
|
Three-month periods ended |
|||||||||||||||||||
|
December 31, 2025 |
|
September 26, 2025 |
|
December 31, 2024 |
|||||||||||||||
GAAP gross profit & margin |
$ |
288,132 |
|
|
31.7 |
% |
|
$ |
292,860 |
|
|
32.4 |
% |
|
$ |
240,903 |
|
|
35.5 |
% |
Stock-based compensation expense |
|
4,851 |
|
|
|
|
|
5,077 |
|
|
|
|
|
3,084 |
|
|
|
|||
Intangible amortization |
|
1,976 |
|
|
|
|
|
1,649 |
|
|
|
|
|
880 |
|
|
|
|||
Adjusted gross profit & margin |
$ |
294,959 |
|
|
32.4 |
% |
|
$ |
299,586 |
|
|
33.1 |
% |
|
$ |
244,867 |
|
|
36.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
GAAP operating income & margin |
$ |
176,105 |
|
|
19.4 |
% |
|
$ |
181,345 |
|
|
20.0 |
% |
|
$ |
150,236 |
|
|
22.1 |
% |
Stock-based compensation expense |
|
33,855 |
|
|
|
|
|
31,653 |
|
|
|
|
|
26,980 |
|
|
|
|||
Intangible amortization |
|
3,272 |
|
|
|
|
|
2,918 |
|
|
|
|
|
1,780 |
|
|
|
|||
Acquisition related costs |
|
398 |
|
|
|
|
|
2,577 |
|
|
|
|
|
1,038 |
|
|
|
|||
Adjusted operating income & margin |
$ |
213,630 |
|
|
23.5 |
% |
|
$ |
218,493 |
|
|
24.1 |
% |
|
$ |
180,034 |
|
|
26.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
GAAP net income & margin |
$ |
131,236 |
|
|
14.4 |
% |
|
$ |
146,861 |
|
|
16.2 |
% |
|
$ |
117,374 |
|
|
17.3 |
% |
Stock-based compensation expense |
|
33,855 |
|
|
|
|
|
31,653 |
|
|
|
|
|
26,980 |
|
|
|
|||
Intangible amortization |
|
3,272 |
|
|
|
|
|
2,918 |
|
|
|
|
|
1,780 |
|
|
|
|||
Adjustment for taxes |
|
857 |
|
|
|
|
|
(3,420 |
) |
|
|
|
|
6,550 |
|
|
|
|||
Acquisition related costs |
|
398 |
|
|
|
|
|
2,577 |
|
|
|
|
|
1,038 |
|
|
|
|||
Adjusted net income & margin |
$ |
169,618 |
|
|
18.7 |
% |
|
$ |
180,589 |
|
|
19.9 |
% |
|
$ |
153,722 |
|
|
22.6 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
GAAP net income & margin |
$ |
131,236 |
|
|
14.4 |
% |
|
$ |
146,861 |
|
|
16.2 |
% |
|
$ |
117,374 |
|
|
17.3 |
% |
Interest, net |
|
(9,565 |
) |
|
|
|
|
(5,911 |
) |
|
|
|
|
(1,865 |
) |
|
|
|||
Debt extinguishment cost |
|
— |
|
|
|
|
|
5,121 |
|
|
|
|
|
— |
|
|
|
|||
Provision for income taxes |
|
49,263 |
|
|
|
|
|
35,864 |
|
|
|
|
|
42,842 |
|
|
|
|||
Depreciation expense |
|
5,164 |
|
|
|
|
|
4,443 |
|
|
|
|
|
2,636 |
|
|
|
|||
Intangible amortization |
|
3,272 |
|
|
|
|
|
2,918 |
|
|
|
|
|
1,780 |
|
|
|
|||
Stock-based compensation expense |
|
33,855 |
|
|
|
|
|
31,653 |
|
|
|
|
|
26,980 |
|
|
|
|||
Acquisition related costs |
|
398 |
|
|
|
|
|
2,577 |
|
|
|
|
|
1,038 |
|
|
|
|||
Other tax related income, net |
|
— |
|
|
|
|
|
— |
|
|
|
|
|
(4,413 |
) |
|
|
|||
Adjusted EBITDA & margin |
$ |
213,623 |
|
|
23.5 |
% |
|
$ |
223,526 |
|
|
24.7 |
% |
|
$ |
186,372 |
|
|
27.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Diluted earnings per share |
|
|
|
|
|
|
|
|
|
|
|
|||||||||
GAAP diluted earnings per share |
$ |
0.85 |
|
|
|
|
$ |
0.97 |
|
|
|
|
$ |
0.79 |
|
|
|
|||
Earnings per share attributable to Non-GAAP adjustments |
|
0.25 |
|
|
|
|
|
0.22 |
|
|
|
|
|
0.24 |
|
|
|
|||
Adjusted diluted earnings per share |
$ |
1.10 |
|
|
|
|
$ |
1.19 |
|
|
|
|
$ |
1.03 |
|
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Diluted shares used in computing per share amounts |
|
153,921 |
|
|
|
|
|
152,018 |
|
|
|
|
|
149,028 |
|
|
|
|||
Nextpower Inc. Reconciliation of GAAP to Non-GAAP financial measures (continued) (In thousands, except percentages and per share data) |
|||||||||||||
|
Nine-month periods ended |
||||||||||||
|
December 31, 2025 |
|
December 31, 2024 |
||||||||||
GAAP gross profit & margin |
$ |
862,718 |
|
|
32.2 |
% |
|
$ |
703,138 |
|
|
34.6 |
% |
Stock-based compensation expense |
|
12,166 |
|
|
|
|
|
9,345 |
|
|
|
||
Intangible amortization |
|
4,784 |
|
|
|
|
|
1,864 |
|
|
|
||
Adjusted gross profit & margin |
$ |
879,668 |
|
|
32.8 |
% |
|
$ |
714,347 |
|
|
35.1 |
% |
|
|
|
|
|
|
|
|
||||||
GAAP operating income & margin |
$ |
543,680 |
|
|
20.3 |
% |
|
$ |
443,805 |
|
|
21.8 |
% |
Stock-based compensation expense |
|
87,818 |
|
|
|
|
|
78,766 |
|
|
|
||
Intangible amortization |
|
8,249 |
|
|
|
|
|
3,743 |
|
|
|
||
Acquisition related costs |
|
4,054 |
|
|
|
|
|
4,695 |
|
|
|
||
Adjusted operating income & margin |
$ |
643,801 |
|
|
24.0 |
% |
|
$ |
531,009 |
|
|
26.1 |
% |
|
|
|
|
|
|
|
|
||||||
GAAP net income & margin |
$ |
435,280 |
|
|
16.2 |
% |
|
$ |
359,432 |
|
|
17.7 |
% |
Stock-based compensation expense |
|
87,818 |
|
|
|
|
|
78,766 |
|
|
|
||
Intangible amortization |
|
8,249 |
|
|
|
|
|
3,743 |
|
|
|
||
Adjustment for taxes |
|
(9,692 |
) |
|
|
|
|
(9,368 |
) |
|
|
||
Acquisition related costs |
|
4,054 |
|
|
|
|
|
4,695 |
|
|
|
||
Adjusted net income & margin |
$ |
525,709 |
|
|
19.6 |
% |
|
$ |
437,268 |
|
|
21.5 |
% |
|
|
|
|
|
|
|
|
||||||
GAAP net income & margin |
$ |
435,280 |
|
|
16.2 |
% |
|
$ |
359,432 |
|
|
17.7 |
% |
Interest, net |
|
(20,847 |
) |
|
|
|
|
(2,702 |
) |
|
|
||
Debt extinguishment cost |
|
5,121 |
|
|
|
|
|
— |
|
|
|
||
Provision for income taxes |
|
118,911 |
|
|
|
|
|
89,922 |
|
|
|
||
Depreciation expense |
|
13,337 |
|
|
|
|
|
4,556 |
|
|
|
||
Intangible amortization |
|
8,249 |
|
|
|
|
|
3,743 |
|
|
|
||
Stock-based compensation expense |
|
87,818 |
|
|
|
|
|
78,766 |
|
|
|
||
Acquisition related costs |
|
4,054 |
|
|
|
|
|
4,695 |
|
|
|
||
Other tax related income, net |
|
— |
|
|
|
|
|
(4,413 |
) |
|
|
||
Adjusted EBITDA & margin |
$ |
651,923 |
|
|
24.3 |
% |
|
$ |
533,999 |
|
|
26.2 |
% |
|
|
|
|
|
|
|
|
||||||
Diluted earnings per share |
|
|
|
|
|
|
|
||||||
GAAP diluted earnings per share |
$ |
2.86 |
|
|
|
|
$ |
2.41 |
|
|
|
||
Earnings per share attributable to Non-GAAP adjustments |
|
0.60 |
|
|
|
|
|
0.52 |
|
|
|
||
Adjusted diluted earnings per share |
$ |
3.46 |
|
|
|
|
$ |
2.93 |
|
|
|
||
|
|
|
|
|
|
|
|
||||||
Diluted shares used in computing per share amounts |
|
152,062 |
|
|
|
|
|
149,134 |
|
|
|
||
See the accompanying notes on Schedule V attached to this press release
Schedule V
Nextpower Inc.
Notes
To supplement Nextpower’s unaudited selected financial data presented consistent with
In calculating non-GAAP financial measures, we exclude certain items to facilitate a review of the comparability of the Company’s operating performance on a period-to-period basis because such items are not, in our view, related to the Company’s ongoing operational performance. We use non-GAAP measures to evaluate the operating performance of our business, for comparison with forecasts and strategic plans, for calculating return on investment, and for benchmarking performance externally against competitors. In addition, management’s incentive compensation is determined using certain non-GAAP measures. Since we find these measures to be useful, we believe that investors benefit from seeing results “through the eyes” of management in addition to seeing GAAP results. We believe that these non-GAAP measures, when read in conjunction with the Company’s GAAP financials, provide useful information to investors by offering:
- the ability to make more meaningful period-to-period comparisons of the Company’s ongoing operating results;
- the ability to better identify trends in the Company’s underlying business and perform related trend analysis;
- a better understanding of how management plans and measures the Company’s underlying business; and
- an easier way to compare the Company’s operating results against analyst financial models and operating results of competitors that supplement their GAAP results with non-GAAP financial measures.
The following are explanations of each of the adjustments that we incorporate into non-GAAP measures, as well as the reasons for excluding each of these individual items in the reconciliations of these non-GAAP financial measures:
Stock-based compensation expense consists of non-cash charges for the estimated fair value of unvested restricted share unit and stock option awards granted to employees. The Company believes that the exclusion of these charges provides for more accurate comparisons of its operating results to peer companies due to the varying available valuation methodologies, subjective assumptions, and the variety of award types. In addition, the Company believes it is useful to investors to understand the specific impact stock-based compensation expense has on its operating results.
Intangible amortization consists primarily of non-cash charges that can be impacted by, among other things, the timing and magnitude of acquisitions. The Company considers its operating results without these charges when evaluating its ongoing performance and forecasting its earnings trends, and therefore excludes such charges when presenting non-GAAP financial measures. The Company believes that the assessment of its operations excluding these costs is relevant to its assessment of internal operations and comparisons to the performance of its competitors.
Acquisition costs consist primarily of nonrecurring transaction costs, including integration and diligence activities on new and potential business acquisitions.
Adjustment for taxes relates to the tax effects of the various adjustments that we incorporate into non-GAAP measures to provide a more meaningful measure on non-GAAP net income and certain adjustments related to non-recurring settlements of tax contingencies or other non-recurring tax charges, when applicable.
Revolver extinguishment cost consists of nonrecurring costs for the termination of our existing credit agreement originally entered into on February 13, 2023.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260127908838/en/
IR Contact
Sarah Lee
Investor@nextpower.com
Media Contact
Brandy Lee
Media@nextpower.com
Source: Nextpower
