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Get filing alertsNextpower reports record Q1 revenue of $935M, raises FY2027 guidance, closes Prevalon acquisition
Filed July 30, 2026 · Period ending July 30, 2026 · ~1 min read
Key Changes
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Q1 FY2027 revenue reached $935M (up 8% YoY), with GAAP net income of $165M and diluted EPS of $1.07. Gross margin expanded to 35.9% from 32.6% a year earlier.
Exhibit 99.1 view on EDGAR → -
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Backlog grew to over $5.5B. Prevalon energy storage acquisition (closed July 2026) added more than $300M in incremental backlog. Also acquired Apex Power and Zigor inverter assets, and announced agreement to acquire Zimmermann PV-Steel Group.
Exhibit 99.1 view on EDGAR → -
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Raised low end of FY2027 guidance: revenue now $4.1-$4.4B (from $4.0-$4.4B), GAAP diluted EPS $3.42-$3.64 (from $3.22-$3.64), adjusted EBITDA $870-$930M (from $845-$930M).
Exhibit 99.1 view on EDGAR → -
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Updated guidance includes approximately $50M in planned incremental costs to accelerate entry into the power conversion market, reflecting strategic expansion beyond core tracker business.
Exhibit 99.1 view on EDGAR → -
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Cash position strengthened to $1.21B (from $1.09B prior quarter). Generated $121M in operating cash flow and $105M in adjusted free cash flow during Q1.
Exhibit 99.1 view on EDGAR →
Summary
Nextpower reported strong Q1 FY2027 results with record revenue of $935 million, up 8% year-over-year, and raised the low end of its full-year guidance across all metrics. The company is executing an aggressive expansion strategy: it closed the Prevalon energy storage acquisition in July 2026 (adding over $300 million in backlog), acquired Apex Power and Zigor inverter assets, and announced an agreement to acquire Zimmermann PV-Steel Group to expand its European presence. Total backlog now exceeds $5.5 billion, reflecting strong demand for both core tracker products and complementary platform technologies.
The guidance raise is notable given that it incorporates approximately $50 million in planned incremental costs to accelerate entry into the power conversion market—meaning the underlying business performance is outpacing the investment drag. Gross margin expansion to 35.9% (from 32.6% a year ago) and strong free cash flow generation of $105 million support the company's ability to fund both organic growth and M&A. The combination of record backlog, margin improvement, and strategic acquisitions positions Nextpower to capture share in the expanding solar infrastructure market, though execution risk increases with the pace of integration and new market entry.
Section-by-Section Diff
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Revenue $935 $881 $864 | GAAP Gross Profit $336 $297 $282 | GAAP Gross Margin 35.9 % 33.8 % 32.6 % | GAAP Net Income $165 $151 $157
GAAP Net Income Margin 17.7 % 17.1 % 18.2 %
GAAP Diluted EPS $1.07 $0.97 $1.04
Nextpower reported Q1 FY2027 revenue of $935 million, up from $881 million in Q4 FY2026 and $864 million in Q1 FY2026. GAAP net income was $165 million (17.7% margin) and GAAP diluted EPS was $1.07. Gross margin expanded to 35.9% from 33.8% sequentially and 32.6% year-over-year.
Added in current filing · view on EDGAR →
Revenue $4.1 to $4.4 billion $4.0 to $4.4 billion
GAAP Net Income $540 to $573 million $507 to $573 million
GAAP Diluted EPS $3.42 to $3.64 $3.22 to $3.64
Adjusted EBITDA $870 to $930 million $845 to $930 million
Adjusted Diluted EPS $4.42 to $4.73 $4.30 to $4.73
Nextpower raised the low end of its FY2027 guidance. Revenue guidance increased to $4.1-$4.4 billion from $4.0-$4.4 billion. GAAP net income guidance rose to $540-$573 million from $507-$573 million, and GAAP diluted EPS guidance increased to $3.42-$3.64 from $3.22-$3.64. Adjusted EBITDA guidance rose to $870-$930 million from $845-$930 million.
Added in current filing · view on EDGAR →
Cash and cash equivalents $ 1,213,898 $ 1,094,976 ... Net cash provided by operating activities ... $ 121,059 $ 81,324
Purchases of property and equipment (15,899) (11,258)
Adjusted free cash flow $ 105,160 $ 70,066
Nextpower ended Q1 FY2027 with $1.21 billion in cash, up from $1.09 billion at the end of Q4 FY2026. The company generated $121 million in operating cash flow and $105 million in adjusted free cash flow during the quarter, compared to $81 million and $70 million respectively in Q1 FY2026.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 31, 2026 · How we verify