Nextracker Reports 50% Revenue Growth in Q1 FY25, Expands Business and Order Backlog Exceeds $4 Billion.

Nextracker (Nasdaq: NXT), a U.S.-based provider of solar trackers and software, has reported a 50% year-over-year revenue growth for Q1 fiscal year 2025. The company, which has been the global market leader in solar tracer solutions for utility-scale tracers based on GW shipped, closed Q1 FY25 with revenues of $720 million, up 50% from the $480 million in revenue in Q1 F24. Most of the company’s Q1 revenue was in the United States, reflecting a 90% year over-year growth in U.K. revenue. The gross profit increased year-Over-year from $114 million in FY24 to $237 million in Q25, and adjusted diluted earnings per share nearly doubled from $0.48 to $00.93. The order backlog continues to grow quarter-overquarter and now stands at over $4 billion. Additionally, Nextracker has acquired the foundations business of Solar Pile International (SPI) and expanded its revolver facility from $500 million to $1 billion.