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Nextpower (NXT) earnings and revenue breakdown

Latest: Q2 FY27 · 10-Q filed Nov 2, 2026 · Nextpower (NXT) Q2 FY27 earnings results →

Q2 FY27 Revenue up 22% year over year to $1.1B · 15¢ of every $1 of revenue kept as net profit · operating margin 18.7%

Nextpower made $1.1B in Q2 FY27 (+22% Y/Y). Operating margin 18.7%, net earnings $165M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 2, 2026.

Revenue$1.1B
Year over year+22%
Operating margin18.7%
Net earnings$165M
Operating cash flow$158M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $1.1B in Q2 FY27, up 23% year over year and up 19% from the previous quarter.

Gross margin was 31.1%, down 1.2 points from Q2 FY26. Operating profit was $0.21B, a 18.7% margin (down 1.3 points year over year). Of the extra revenue versus Q2 FY26, 13% reached operating profit, below the 20% margin then. Operating expenses grew 24% against revenue growth of 23%. The fastest-growing cost line was Research & development (+69%). Net earnings were $0.17B, up 13% year over year. The effective tax rate was 23.1%.

Operating cash flow was $0.16B (down 15% year over year), 96% of net earnings. Non-cash charges added back $0.01B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $0.05B. Capital expenditures of $0.02B left free cash flow of $0.13B.

Quarterly history

Nextpower revenue by quarterNextpower revenue by quarter$924MQ4 FY25$864MQ1 FY26$905MQ2 FY26$909MQ3 FY26$881MQ4 FY26$935MQ1 FY27$1.1BQ2 FY27
Nextpower net earnings by quarterNextpower net earnings by quarter$157MQ4 FY25$157MQ1 FY26$147MQ2 FY26$131MQ3 FY26$151MQ4 FY26$165MQ1 FY27$165MQ2 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 FY2710-QNov 2, 2026$1.1B+22%18.7%$165M$158M
Q1 FY2710-QAug 3, 2026$935M+8%20.4%$165M$121M
Q4 FY2610-KMay 19, 2026$881M-5%17.4%$151M$171M
Q3 FY2610-QJan 30, 2026$909M+34%19.4%$131M$123M
Q2 FY2610-QOct 30, 2025$905M+42%20.0%$147M$187M
Q1 FY2610-QAug 1, 2025$864M+20%21.5%$157M$81.3M
Q4 FY2510-KMay 22, 2025$924M+26%21.1%$157M$237M

Charts

Nextpower: revenue growth, year over year and quarter over quarterNextpower: revenue growth, year over year and quarter over quarterY/YQ/Q+26%Q4 FY25+20%-7%Q1 FY26+42%+5%Q2 FY26+34%+0%Q3 FY26-5%-3%Q4 FY26+8%+6%Q1 FY27+22%+19%Q2 FY27
Latest (Q2 FY27): Y/Y +22%, Q/Q +19%.
Nextpower: where the cash came from (+) and went (−), TTM to Q2 FY27Nextpower: where the cash came from (+) and went (−), TTM to Q2 FY27Operating cash flow$574MCash drawn (+) / kept (−)−$185MBuybacks−$162MAcquisitions−$141MCapital spending−$61.6MOther investing−$21.0MOther financing−$3.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Nextpower: profit against cash, quarter by quarterNextpower: profit against cash, quarter by quarterNet incomeOperating cash flow$115M$144MQ3 FY25$157M$237MQ4 FY25$157M$81.3MQ1 FY26$147M$187MQ2 FY26$131M$123MQ3 FY26$151M$171MQ4 FY26$165M$121MQ1 FY27$165M$158MQ2 FY27
Latest (Q2 FY27): Net income $165M, Operating cash flow $158M.
Nextpower: diluted shares by fiscal yearNextpower: diluted shares by fiscal year146MFY23147MFY24149MFY25153MFY26
+4.7% since FY23: more shares outstanding (issuance, stock pay).
Nextpower in its industry: growth against margin (80 companies, SIC 3674)Nextpower in its industry: growth against margin (80 companies, SIC 3674)revenue growth, year over year →↑ operating marginmedian +36%median 11%NVDAMUAVGOINTCAMDAMATTXNADINXPIMRVLAMKRONMCHPQARMFSLRMPWRSWKSQorvo, Inc.UCTTALABPENGCRUSDIODCRDOVIAVMTSIOSISSMTCKLICARRYICHRSEDGSITMSYNAENPHLSCCIPGPFORMALGMAAOITESLABRMBSMXLPLABSHLSCBRSAOSLSkyWater Technology, LLCWOLFPOWINLSTAMBALASRAXTIINDIMXAMBQFTCIAIPTYGOLPTHMRAMNVTSKOPNBZAIGUERLEDSGSITNVECSODIQUIKPRSOGCTSMOBXALMUASTIIPWRNXT (+22%, 19%)
Semiconductors & Related Devices; dot size is quarterly revenue; dashed lines are the industry's medians.

In supply chains and themes

Solar & energy storage money flowSolar & energy storage · Modules & trackers

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Nextpower

Unless the context requires otherwise, references in this Annual Report on Form 10-K to “Nextpower,” the “Company,” “we,” “us” and “our” mean Nextpower Inc. and its consolidated subsidiaries (formerly known as Nextracker Inc.) Our mission is to be the trusted partner delivering the world’s most intelligent, reliable, and productive clean-power technology.

In its own words, from its 10-K, filed May 19, 2026.

Nextpower against its Semiconductors & Related Devices peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +22% against the peers' median +40%. Operating margin: 18.7% against the peers' median 40.1%.

CompanyQuarterRevenueY/YOp. margin
NXT NextpowerQ2 FY27$1.1B+22%18.7%
NVDA NVIDIAQ2 FY27$96.2B+106%66.2%
MU Micron TechnologyQ4 FY26$54.2B+379%80.7%
AVGO BroadcomQ3 FY26$29.6B+86%53.9%
INTC IntelQ3 2026$16.5B+21%15.3%
AMD Advanced Micro DevicesQ3 2026$13.4B+45%21.2%
AMAT Applied MaterialsQ3 FY26$9.1B+25%33.7%
TXN Texas InstrumentsQ3 2026$6.1B+28%47.5%
ADI Analog DevicesQ3 FY26$4.0B+40%40.1%

Source: Nextpower 10-Q on SEC EDGAR · CIK 1852131 · Semiconductors & Related Devices

Guidance and outlook

Nextpower Revenue: guidance against what was reportedNextpower Revenue: guidance against what was reportedguided rangereported (above / within / below)FY25$3.0BFY26$3.6BFY27
Met or beat 2 of 2 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
Nextpower GAAP net income: guidance against what was reportedNextpower GAAP net income: guidance against what was reportedguided rangereported (above / within / below)FY25$509MFY26$586MFY27
Met or beat 2 of 2 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
Nextpower: what its forward-looking statements are about (10-Q filed 2026-11-02)Nextpower: what its forward-looking statements are about (10-Q filed 2026-11-02)Demand5Other2Costs2Supply chain1Deals1Tax1
12 statements; tone +0.42 (−1 all cautious, +1 all confident); 1 hedged.
Nextpower: outlook statements against the filing beforeNextpower: outlook statements against the filing beforeConfident5

13F: who owns NXT and who is buying

Largest holders of NXT (13F)Largest holders of NXT (13F)BlackRock$2.5BFMR LLC$2.2BVanguard Group$1.2BPrimecap Management$797MVanguard Capital Management LLC$775MVanguard Portfolio Management LLC$710MInvesco$580MState Street$565MWellington Management Group LLP$408MGeode Capital Management, LLC$408M
Funds' net buying of NXT by quarter (13F)Funds' net buying of NXT by quarter (13F)−$81.2M2024-09−$14.4M2024-12−$42.2M2025-03−$220M2025-06$162M2025-09$580M2025-12$834M2026-03−$350M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on NXT

History

Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results

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中文版：Nextpower（NXT）财报

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