Nextpower has recently released its latest 10-Q report for the three months ended July 3, 2026. The company supplies solar and energy technology for utility-scale power plants, with products spanning solar trackers, energy yield management software, foundations, installation equipment, and monitoring tools. It serves EPC firms, project developers, and project owners in the U.S. and international markets.
In Item 2, management said Nextpower generated $935.2 million of revenue in the quarter, up 8% from $864.3 million a year earlier. Gross profit rose 19% to $335.9 million, lifting gross margin to 35.9% from 32.6%. Operating income increased 3% to $190.9 million, while net income climbed 5% to $165.4 million.
Revenue in the quarter was heavily weighted to the U.S., which accounted for $775.6 million, or 83% of total sales, compared with $599.5 million, or 69%, in the prior-year quarter. The rest of the world contributed $159.6 million, down from $264.8 million a year earlier. Customer A accounted for $152.1 million of revenue, while Customer H accounted for $99.5 million in the prior-year period.
Cost of sales increased 3% to $599.3 million, slower than revenue growth. Selling, general and administrative expenses rose 36% to $100.4 million, and research and development more than doubled to $44.5 million from $21.6 million. Interest expense fell 79% to $253,000, while other income, net, increased to $8.3 million from $6.0 million.
Management also highlighted two acquisitions completed after the quarter. On July 17, 2026, Nextpower bought Prevalon Energy for total consideration of up to $365 million, including about $150 million in cash at closing, $50 million in stock to be issued one year later, and up to $165 million in contingent cash. On July 30, 2026, it closed the purchase of Zigor Corporation’s power conversion business and Apex Power for up to about $80.5 million, including $46.0 million paid at closing and up to $34.5 million in contingent cash. Following these announcements, the company's shares moved -0.02%, and are now trading at a price of $89.85. Check out the company's full 10-Q submission here.
