Fremont, California, May 13, 2026, 06:08 PDT
- Nextpower bumped its fiscal 2027 revenue forecast higher, coming off record revenue in fiscal 2026.
- The company has struck a deal to acquire Zigor and Apex Power conversion assets, picking up inverter technology for its solar platform.
- Biggest near-term hurdles: getting Spanish authorities to sign off on the foreign-investment piece, and then actually pulling off the deal integration.
Nextpower Inc. shares jumped 12.5% to $141 in U.S. premarket action Wednesday, according to Benzinga, after the solar tech supplier raised its fiscal 2027 sales target and unveiled a move deeper into power conversion—an area with fatter margins in solar-plant gear. Adjusted earnings and revenue cleared Wall Street’s bar, giving NXT stock an extra push ahead of the open.
Timing is part of the story here. Nextpower—known as Nextracker until last year—wants to prove its rebrand wasn’t just a facelift. The company is aiming to boost sales of the broader equipment stack for utility-scale solar, beyond its core business in sun-tracking panel structures.
Developers are now grappling with larger and trickier power setups—think batteries, grid enhancements, and the surging demand from data centers. Inverter systems, essential for converting the direct current produced by solar panels or batteries into grid-ready alternating current, sit at the heart of this trend. Electrical balance of systems, or eBOS, covers the wiring, connectors, and related equipment that channel that energy through an installation. Nextpower says the assets it intends to acquire are aimed at solar, battery storage, and data-center uses.
Nextpower booked $881 million in revenue for the quarter ending March 31, slipping from $924 million in the same stretch last year. GAAP diluted EPS fell to 97 cents, compared with $1.05. On an adjusted basis, diluted EPS landed at $1.05. Adjusted EBITDA came in at $202 million.
Investors looking for clarity zeroed in on the full-year results. Revenue for fiscal 2026 jumped 20% to $3.56 billion, while backlog passed $5.25 billion. The company’s cumulative tracker shipments crossed 160 gigawatts. Chief Financial Officer Chuck Boynton pointed to “meaningful cash generation,” adding that the improved forecast is underpinned by both backlog and continued bookings strength. Nextpower
Nextpower lifted its fiscal 2027 revenue outlook to $3.8 billion-$4.1 billion, bumping it up from the previous $3.6 billion-$3.8 billion range. The company is guiding for adjusted EBITDA between $825 million and $900 million, with adjusted diluted EPS set at $4.21 to $4.59. That forecast folds in roughly $50 million of extra costs as Nextpower expands into power conversion.
Nextpower is snapping up the power-conversion arm of Spain’s Zigor Corporation along with U.S.-based Apex Power, a deal pegged at roughly $80.5 million in cash. Of that, $46 million lands at closing, with as much as $34.5 million more tied to earnouts. The company has also earmarked another $50 million for growth spending related to the acquisition. “Building out U.S. manufacturing as quickly as is prudent,” CEO Dan Shugar said. Nextpower
Nextpower picks up modular inverter tech and engineering talent with the deal. The company expects U.S. production to start ramping in 2027. Once closed, these assets will fold into Nextpower’s expanding power electronics platform.
Nextpower may have the edge for now, but the field is crowded. Wood Mackenzie puts U.S.-based NextPower at the top of its global photovoltaic tracker manufacturer rankings, just ahead of China’s Trina Tracker and U.S. rival Array. Timothy Shen, senior research analyst at Wood Mackenzie, noted the lead wasn’t only about shipment volume.
Still, execution isn’t a given. The deal faces hurdles: Spanish approval for foreign direct investment, a government look at cross-border inflows, plus all the usual closing conditions. Nextpower, for its part, listed several pitfalls—integrating operations, keeping a lid on unplanned costs, holding on to staff, shifts in inverter product demand, and the chance of new regulatory or economic headwinds.
The filing flagged a shakeup in management: Nextpower’s board named Robert Vinje as chief operating officer, starting June 15. Marco Miller, who’s been COO, shifts over to chief project development officer. Vinje comes from solar recycling outfit SOLARCYCLE, where he’s held the COO job since January 2023, and he’s also worked at Amazon and SunPower before that.
The earnings finally attach some figures to the platform narrative: backlog’s up, the product roadmap stretches wider, and the 2027 outlook is raised. Nextpower’s challenge now is converting that backlog into top-line growth—and pushing the inverter agreement through regulators.
