The following is a summary of the Nextracker Inc. (NXT) Q4 2024 Earnings Call Transcript:
Financial Performance:
Nextracker Inc. reported a Q4 revenue of $737 million, a 40% year-on-year growth.
Adjusted EBITDA for Q4 doubled to $160 million.
In fiscal year 2024, the company recorded revenues of $2.5 billion, up over 30% from the previous year, and adjusted EBITDA more than doubled to $521 million.
For fiscal year 2025, the projected revenues range from $2.8 billion to $2.9 billion, and adjusted EBITDA is expected between $600-$650 million.
The company reported a total debt of $150 million, with a debt-to-EBITDA ratio of less than one. Total liquidity at the end of Q4 was over $800 million.
Nextracker recorded a cumulative adjustment recognizing $126 million related to vendor rebates, with $121 million was recognized as a reduction in GAAP costs of sales.
For fiscal 2025, the projected GAAP EPS is between $2.41 to $2.61 per share, and Adjusted EPS is expected between $2.89 to $3.09 per share.
Business Progress:
Since its inception, Nextracker Inc. shipped 100 gigawatts of power, which equals double the peak load of California's power grid.
The company expanded its global supply chain to over 50 gigawatts annually, with U.S. capacity of over 30 gigawatts.
Nextracker launched a low-carbon tracker solution in the U.S., which has up to 35% less carbon footprint.
R&D investments have doubled leading to robust product development and global expansion.
Nextracker runs five PowerworX training academies globally, where it trained over 1,000 solar workers.
The company's technology patent portfolio has over 500 issued and pending patents.
The company received ISO 45001 certification for its safety management system last fiscal year.
Nextracker expects revenue growth in the range of 25% to 30% for Q1 fiscal 2025.
The company plans to continually lower costs for customers and increase their product's total addressable market.
Nextracker is optimistic about making solar energy the primary source of energy in the U.S. and globally.
More details: Nextracker IR
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