Nextracker Inc. Files Q3 FY25 10-Q
Ticker: NXT · Form: 10-Q · Filed: Jan 31, 2025 · CIK: 1852131
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
Nextracker's Q3 FY25 10-Q is in. Check financials.
AI Summary
Nextracker Inc. filed its 10-Q for the period ending December 31, 2024. The company reported its financial results for the third quarter of fiscal year 2025. Key financial data and operational details are provided in this filing.
Why It Matters
This filing provides investors with the latest financial performance and operational updates for Nextracker Inc., crucial for understanding the company's current standing and future prospects in the solar tracker market.
Risk Assessment
Risk Level: medium — As a public company filing a quarterly report, there are inherent risks associated with financial performance and market conditions that could impact the company.
Key Numbers
- 2024-12-31 — Period End Date (The report covers financial data up to this date.)
- 2025-01-31 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- Nextracker Inc. (company) — Filer of the 10-Q
- 2024-12-31 (date) — Period end date for the 10-Q filing
- 2025-01-31 (date) — Filing date of the 10-Q
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended December 31, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on January 31, 2025.
What is the company's Central Index Key (CIK)?
The company's Central Index Key is 0001852131.
What is Nextracker Inc.'s fiscal year end?
Nextracker Inc.'s fiscal year ends on March 31.
What is the SEC file number for Nextracker Inc.?
The SEC file number for Nextracker Inc. is 001-41617.
Filing Stats: 4,575 words · 18 min read · ~15 pages · Grade level 14.9 · Accepted 2025-01-31 17:21:27
Key Financial Figures
- $0.0001 — which registered Class A Common Stock, $0.0001 par value NXT The Nasdaq Stock Market L
Filing Documents
- nxt-20241231.htm (10-Q) — 1240KB
- nxt12312024-ex101xexecutiv.htm (EX-10.1) — 165KB
- nxt12312024-ex102xexecutiv.htm (EX-10.2) — 204KB
- nxt12312024-ex103xschlesin.htm (EX-10.3) — 94KB
- nxt12312024-ex311fy25.htm (EX-31.1) — 9KB
- nxt12312024-ex312fy25.htm (EX-31.2) — 10KB
- nxt12312024-ex321fy25.htm (EX-32.1) — 4KB
- nxt12312024-ex322fy25.htm (EX-32.2) — 4KB
- 0001852131-25-000006.txt ( ) — 6016KB
- nxt-20241231.xsd (EX-101.SCH) — 32KB
- nxt-20241231_cal.xml (EX-101.CAL) — 52KB
- nxt-20241231_def.xml (EX-101.DEF) — 185KB
- nxt-20241231_lab.xml (EX-101.LAB) — 486KB
- nxt-20241231_pre.xml (EX-101.PRE) — 332KB
- nxt-20241231_htm.xml (XML) — 571KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION Page
Financial Statements
Item 1. Financial Statements : 2 Unaudited Condensed Consolidated Balance Sheets as of December 31, 2024 and March 31, 2024 3 Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income for the three-month and nine-month periods ended December 31, 2024 and December 31, 2023 4 Unaudited Condensed Consolidated Statements of Stockholders' Equity (Deficit) and Redeemable Interest for the three-month and nine-month periods ended December 31, 2024 and December 31, 2023 5 Unaudited Condensed Consolidated Statements of Cash Flows for the nine-month periods ended December 31, 2024 and December 31, 2023 7 Notes to the Unaudited Condensed Consolidated Financial Statements 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 31 Item 4.
Controls and Procedures
Controls and Procedures 32
OTHER INFORMATION
PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 33 Item 1A.
Risk Factors
Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 61 Item 3. Defaults Upon Senior Securities 61 Item 4. Mine Safety Disclosures 62 Item 5. Other Information 62 Item 6. Exhibits 62
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS 2 Nextracker Inc. Unaudited condensed consolidated balance sheets (In thousands, except share and per share amounts) As of December 31, 2024 As of March 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 693,543 $ 474,054 Accounts receivable, net of allowance of $ 2,845 and $ 3,872 , respectively 457,918 382,687 Contract assets 279,027 397,123 Inventories 217,301 201,736 Other current assets 346,732 312,635 Total current assets 1,994,521 1,768,235 Property and equipment, net 47,985 9,236 Goodwill 370,613 265,153 Other intangible assets, net 47,503 1,546 Deferred tax assets 472,189 438,272 Other assets 50,748 36,340 Total assets $ 2,983,559 $ 2,518,782 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 377,466 $ 456,639 Accrued expenses 72,863 82,410 Deferred revenue 297,007 225,539 Current portion of long-term debt 6,563 3,750 Other current liabilities 150,746 123,148 Total current liabilities 904,645 891,486 Long-term debt, net of current portion 138,770 143,967 Tax receivable agreement (TRA) liability 375,002 391,568 Other liabilities 140,182 99,733 Total liabilities 1,558,599 1,526,754 Commitments and contingencies (Note 8) Stockholders' equity: Class A common stock, $ 0.0001 par value, 900,000,000 shares authorized, 143,688,057 shares and 140,773,223 shares issued and outstanding, respectively 14 14 Class B common stock, $ 0.0001 par value, 500,000,000 shares authorized, 1,908,827 shares and 3,856,175 shares issued and outstanding, respectively — — Accumulated deficit ( 2,714,204 ) ( 3,066,578 ) Additional paid-in-capital 4,121,940 4,027,560 Accumulated other comprehensive (loss) income ( 1,200 ) 17 Total Nextracker Inc. stockholders' equity 1,406,550 961,013 Non-controlling interest 18,410 31,015 Total stockholders' equity 1,424,960 992,028 Total liabilities and stockholders' equity $ 2,983,559 $ 2,518,782 The accompanying notes are an integral par