Nextpower Surpasses $935 Million in Revenue and Hits Record Highs in Q1 2027
Nextpower, a leading provider of solar power solutions, has reported a strong first quarter (Q1) for fiscal year 2027, with revenue reaching a record high of $935 million. The company's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) also reached $233 million.
Ms. Sarah Lee, Head of Investor Relations at Nextpower, welcomed attendees to the Q1 earnings call and provided opening remarks, highlighting the company's continued progress towards its long-term strategy of solving customer problems and delivering tangible value and performance.
During his address, Dan Shugar, CEO and Founder of Nextpower, expressed enthusiasm for the company's performance in Q1 2027. He attributed the success to "continued bookings momentum and backlog growth, operational discipline and execution, and significant progress in the expansion of our technology platform."
The company achieved a record quarterly revenue of $935 million and grew its backlog to over $5.5 billion, reflecting healthy customer demand and booking strength across both its core tracker business and expanding portfolio of non-tracker products.
Nextpower Energy Storage brought in an additional $300 million in backlog, highlighting the growing importance of energy storage solutions for the company's customers.
Mr. Shugar emphasized that the acquisition of Prevalon, which closed last Monday, was a significant step forward for Nextpower Energy Storage. The addition of the proven team with an excellent track record across 6 gigawatt hours of turnkey storage solutions is expected to drive growth in this sector.
With the pending acquisition of Zimmermann PV-Steel Group, a well-respected company based in Germany, Nextpower solidifies its European footprint and reinforces its position as a global leader in solar trackers. According to Wood Mackenzie, Nextpower was recognized as the number one solar tracker company in the U.S. and globally for the 11th consecutive year.
As the company continues to innovate and expand its offerings, it has earned trust and repeat business from its global tier 1 customer base and deployed its technology across projects totaling more than 160 gigawatts. Each project deepens its customer relationships and gives the company greater insight into evolving needs of utility-scale solar and storage customers.
The growth in energy storage is projected to reach 33% CAGR from 2025 to 2028, further solidifying Nextpower's commitment to this sector. As the demand for low-cost energy and rapid capacity deployment for dispatchable firm power continues to rise, it will be exciting to see how Nextpower adapts and capitalizes on these opportunities.
