US-based Nextpower has reported net income of US$165 million (€147 million) and revenue of over US$1.1 billion in its financial results for Q2 of its 2027 financial year, which ends on 2 October 2026.
Nextpower’s revenue was up from US$935 million in the first quarter of its financial year and up from US$905 million in the same quarter of the previous year.
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The company also reported an adjusted EBITDA of approximately US$250 million and posted a quarterly record for company-wide bookings. Nextpower’s total backlog now exceeds US$6 billion and eBOS bookings exceeded US$100 in value.
Dan Shugar, CEO and founder of Nextpower, said the figures reflected “continued demand strength for our tracker products, alongside rapidly accelerating demand and orders for our additional products and services.”
Nextpower also announced that in Q2 it had shipped the first NX Power Conversion system to its customers, and secured a 1.1GW inverter supply agreement, described by Shugar as with “a leading Tier 1 IPP,” for five projects.
The company re-branded from Nextracker to Nextpower in November 2025 to reflect its move to offer a broader integrated power technology portfolio of products, and announced in its Q2 results that it had finalised its acquisition of German racking manufacturer Zimmerman PV-Steel for approximately US$257 million (€230 million), which was first announced at this year’s Intersolar Europe event in June.
The onboarding of Zimmermann PV-Steel has added fixed-tilt and structural solutions to Nextpower’s product portfolio, and PV Tech Premium heard from Bloomberg Intelligence analyst Alessio Mastrandrea that these deals make clear that Nextpower’s “name change wasn’t just cosmetic”.
During this quarter, Nextpower secured a US patent for its NX PowerMerge trunk connector from the US Patent and Trademark Office, which is being deployed commercially and has a deployment backlog of more than 2GW.
The award of the patent comes as Nextpower navigates two separate patent disputes with GameChange Energy in the US District Court for the District of Delaware. In June this year, Nextpower alleged GameChange infringed three patents related to Nextpower’s self-powered solar tracker and its ‘TrueCapture’ energy management control system.
Three months later, GameChange filed a lawsuit against Nextpower, alleging patent infringement regarding tracking systems that rotate in high winds. Neither company has provided an update on either lawsuit since the claims were first filed.
