NXT on Nasdaq

Nextpower Inc.

Our mission is to be the trusted partner delivering the world’s most intelligent, reliable, and productive clean-power technology.⁵ From its latest annual report

Price unavailable

Last updated Oct 19, 2026.

Overview

$3.6BRevenue, fiscal 2026³

$585.9MNet income, fiscal 2026³

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TickerNXT on Nasdaq²
IndustrySemiconductors & Related Devices²
HeadquartersFremont, United States²
Incorporated inDE⁴
Business address6200 Paseo Padre Parkway, Fremont, Ca 94555⁴
Filer categoryLarge accelerated filer⁴
Legal formLimited Liability Company²
LEI2138001D4HUZ48PR8M23²
StatusActive²
LEI statusIssued and current²
Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States²
Registered withDivision of Corporations, Department of State, 5406490²

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Our mission is to be the trusted partner delivering the world’s most intelligent, reliable, and productive clean-power technology.⁵ From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

32.6%Gross margin³

19.6%Operating margin³

16.5%Net margin³

20.3%Revenue growth, 2026³

25.1%Return on equity³

$513.6MFree cash flow³

Where the money goes

Where each dollar of revenue went, fiscal 2026

Cost of revenueProfit

Cost of revenue67¢$2.4B
Research and development3¢$120.9M
Selling, general and admin10¢$341.9M
Income tax4¢$127.9M
Profit16¢$585.9M

Out of $3.6B in revenue.³

Where each dollar of operating cash went, fiscal 2026

Kept or used elsewhere

Capital spending9¢$49.3M
Share buybacks0¢$395.0K
Kept or used elsewhere91¢$513.2M

Out of $562.9M of cash from operations.³

Financial statements

Revenue⁶⁷⁸³$3.6B in 2026+198% since 2021

Gross profit⁶⁷⁸³$1.2B in 2026+400% since 2021

Operating income⁶⁷⁸³$697.3M in 2026+340% since 2021

Net income⁶⁷⁸³$585.9M in 2026

Fiscal year	2021	2022	2023	2024	2025	2026
Revenue	$1.2B⁶	$1.5B⁷	$1.9B⁸	$2.5B³	$3.0B³	$3.6B³
Cost of revenue	$963.6M⁶	$1.3B⁷	$1.6B⁸	$1.7B³	$2.0B³	$2.4B³
Gross profit	$232.0M⁶	$147.0M⁷	$287.0M⁸	$813.0M³	$1.0B³	$1.2B³
Research and development	$13.0M⁶	$14.2M⁷	$21.6M⁸	$42.4M³	$79.4M³	$120.9M³
Selling, general and admin	$60.4M⁶	$66.9M⁷	$96.9M⁸	$183.6M³	$290.3M³	$341.9M³
Operating income	$158.5M⁶	$65.9M⁷	$168.5M⁸	$587.1M³	$639.1M³	$697.3M³
Income before tax		$65.1M⁷	$169.1M⁸	$608.0M³	$648.0M³	$713.8M³
Income tax	$33.7M⁶	$14.2M⁷	$47.8M⁸	$111.8M³	$130.8M³	$127.9M³
Net income	$0⁶	$0⁷	$1.1M⁸	$306.2M³	$509.2M³	$585.9M³
Earnings per share			$0.02⁸	$3.97³	$3.55³	$3.96³
Earnings per share (diluted)			$0.02⁸	$3.37³	$3.47³	$3.84³
Shares (weighted, basic)			45.9M shares⁸	77.1M shares³	143.5M shares³	148.0M shares³
Shares (weighted, diluted)			145.9M shares⁸	147.3M shares³	149.3M shares³	152.7M shares³

Total assets⁶⁷⁸³$4.1B in 2026+300% since 2022

Total liabilities⁶⁷⁸³$1.7B in 2026+237% since 2022

Shareholders’ equity⁷⁶³$2.3B in 2026

Cash⁶⁷⁸³$1.1B in 2026+37018% since 2020

Long-term debt⁶⁷⁸$0 in 2025

Fiscal year	2020	2021	2022	2023	2024	2025	2026
Cash	$3.0M⁶	$190.6M⁷	$29.1M⁶	$130.0M⁷	$474.1M⁸	$766.1M³	$1.1B³
Receivables			$168.3M⁶	$271.2M⁷	$382.7M⁸	$472.5M³	$417.0M³
Inventory			$172.2M⁶	$138.1M⁷	$201.7M⁸	$209.4M³	$262.3M³
Current assets			$714.1M⁶	$872.3M⁷	$1.8B⁸	$2.2B³	$2.8B³
Property, plant and equipment			$7.4M⁶	$7.3M⁷	$9.2M⁸	$60.4M³	$78.4M³
Goodwill			$265.2M⁶	$265.2M⁷	$265.2M³	$371.0M³	$488.9M³
Intangible assets			$2.5M⁶	$1.3M⁷	$1.5M⁸	$53.2M³	$78.0M³
Total assets			$1.0B⁶	$1.4B⁷	$2.5B⁸	$3.2B³	$4.1B³
Accounts payable			$266.6M⁶	$211.4M⁷	$456.6M⁸	$585.3M³	$533.5M³
Short-term debt					$3.8M⁸	$0⁸
Current liabilities			$473.4M⁶	$507.4M⁷	$891.5M⁸	$1.0B³	$1.2B³
Long-term debt			$0⁶	$147.1M⁷	$144.0M⁸	$0⁸
Total liabilities			$516.2M⁶	$934.8M⁷	$1.5B⁸	$1.6B³	$1.7B³
Retained earnings			$0⁶	-$3.1B⁷	-$3.1B⁸	-$2.6B³	-$2.0B³
Shareholders’ equity		$0⁷	$0⁶	-$3.1B³	$992.0M³	$1.6B³	$2.3B³
Shares outstanding				62.1M shares³

Cash from operations⁶⁷⁸³$562.9M in 2026+497% since 2021

Capital spending⁶⁷⁸³$49.3M in 2026+1901% since 2021

Free cash flow⁶⁷⁸³$513.6M in 2026+459% since 2021

Share buybacks⁷⁸³$395.0K in 2026

Fiscal year	2021	2022	2023	2024	2025	2026
Cash from operations	$94.3M⁶	-$147.1M⁷	$107.7M⁸	$429.0M³	$655.8M³	$562.9M³
Depreciation and amortization		$11.1M⁷	$4.6M⁸	$4.4M³	$13.4M³	$30.6M³
Stock-based compensation		$3.0M⁷	$32.0M⁸	$56.8M³	$118.9M³	$120.3M³
Capital spending	$2.5M⁶	$5.9M⁷	$3.2M⁸	$6.2M³	$33.9M³	$49.3M³
Free cash flow	$91.8M	-$153.0M	$104.5M	$422.8M	$621.9M	$513.6M
Cash from investing		-$5.8M⁷	-$3.2M⁸	-$6.7M³	-$186.1M³	-$186.9M³
Share buybacks		$0⁷	$693.8M⁸	$0³	$0³	$395.0K³
Cash from financing		-$8.7M⁷	-$3.6M⁸	-$78.3M³	-$177.6M³	-$47.2M³

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Leadership

Who has led Nextpower Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

Daniel S. Shugar2023–now

President

Chief financial officer

Chief operating officer

2025

Chief executive officerDaniel S. Shugar Feb 9, 2023 to now¹³
PresidentHoward Wenger Feb 9, 2023 to Jun 23, 2023¹⁴
PresidentBruce Ledesma Jun 23, 2023 to Jul 1, 2024¹⁵
Chief financial officerCharles D. Boynton May 30, 2024 to now¹⁶
Chief financial officerDavid P. Bennett Feb 9, 2023 to May 22, 2024¹⁷
Chief operating officerRobert Vinje Jun 15, 2026 to now¹⁸
Chief operating officerNicholas Marco Miller Feb 9, 2023 to Jun 15, 2026¹⁹

Board members and other officers (22)

Chief Accounting OfficerDavid P. Bennett Jun 11, 2024 to now²⁰
Pres, Strat'y, Software & AdmnBruce Ledesma Feb 9, 2023 to May 11, 2023²¹
GC, Ch Eth & Compl Off'r & SecLeah Schlesinger Feb 9, 2023 to Jul 1, 2024²²
Board memberMark Menezes Jun 20, 2025 to now²³
Board memberMonica Karuturi Jun 20, 2025 to now²⁴
Board memberJulia Blunden Jan 4, 2024 to now²⁵
Board memberHoward Wenger Apr 3, 2024 to now²⁶
Board memberJeffrey B. Guldner Jun 17, 2024 to now²⁷
Board memberCharles D. Boynton Feb 9, 2023 to Sep 25, 2023²⁸
Board memberChristian Bauwens Feb 9, 2023 to Feb 17, 2023²⁹
Board memberDaniel S. Shugar Feb 9, 2023 to now¹³
Board memberDavid Scott Offer Feb 9, 2023 to Jan 4, 2024³⁰
Board memberJonathan J. Coslet Feb 9, 2023 to Feb 9, 2023³¹
Board memberMichael P. Hartung Feb 9, 2023 to Jan 4, 2024³²
Board memberPaul Lundstrom Feb 9, 2023 to Jan 4, 2024³³
Board memberRebecca Sidelinger Feb 9, 2023 to Jan 4, 2024³⁴
Board memberWilliam D. Watkins Feb 9, 2023 to now³⁵
Board memberWilly C. Shih Feb 9, 2023 to now³⁶
Board memberBrandi Elizabeth Thomas Apr 28, 2023 to now³⁷
Board memberKyra Lynn Whitten Apr 28, 2023 to Apr 28, 2023³⁸
General counselLindsey Roon Wiedmann Jul 20, 2026 to now³⁹
General counselBruce Ledesma Feb 11, 2025 to now⁴⁰

Subsidiaries and ownership

Ultimate parent

Flex Ltd.²

Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record.

Former names

Nextracker LLCSep 22, 2022 to Sep 23, 2022⁴
Nextracker Inc.Apr 8, 2021 to Oct 30, 2025⁴

Timeline

Feb 9, 2023New chief executive Daniel S. Shugar becomes CEO¹³
Oct 8, 2013Founded Nextpower Inc. is founded²

Filings

500 filings to the SEC since October 2021: 5 annual reports, 12 quarterly reports, 37 major events, 237 insider forms, 24 large holders, 185 other. The latest 20:

Sep 2, 20264 EDGAR
Sep 1, 2026144 EDGAR
Aug 24, 2026144 EDGAR
Aug 24, 20264 EDGAR
Aug 21, 2026144 EDGAR
Aug 21, 2026144 EDGAR
Aug 20, 20264 EDGAR
Aug 20, 20264 EDGAR
Aug 19, 2026144 EDGAR
Aug 19, 20268-K EDGAR
Aug 19, 20264 EDGAR
Aug 19, 20264 EDGAR
Aug 19, 20264 EDGAR
Aug 19, 20264 EDGAR
Aug 19, 20264 EDGAR
Aug 19, 20264 EDGAR
Aug 12, 20264 EDGAR
Aug 11, 2026144 EDGAR
Aug 11, 2026144 EDGAR
Aug 11, 20264 EDGAR

The 500 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

49 open-market trades by officers, directors and large owners since October 2021: 1 buys and 48 sales. Grants, option exercises and gifts are left out.

Date	Who	Trade	Shares	Price	Value	Filing
Sep 1, 2026	BOYNTON CHARLES DChief Financial Officer	Sale	4,500	$79.98	$359.9K	Form 4
Aug 24, 2026	Blunden JuliaDirector	Sale	3,692	$84.10	$310.5K	Form 4
Aug 21, 2026	Blunden JuliaDirector	Sale	3,723	$88.08	$327.9K	Form 4
Aug 19, 2026	Thomas Brandi ElizabethDirector	Sale	7,415	$91.25	$676.6K	Form 4
Aug 11, 2026	Wenger HowardPresident	Sale	11,176	$104.78	$1.2M	Form 4
Aug 10, 2026	SHUGAR DANIEL SChief Executive Officer	Sale	67,636	$103.07	$7.0M	Form 4
Aug 5, 2026	Blunden JuliaDirector	Sale	2,289	$97.22	$222.5K	Form 4
Jun 1, 2026	BOYNTON CHARLES DChief Financial Officer	Sale	4,500	$151.79	$683.1K	Form 4
May 29, 2026	Miller Nicholas MarcoChief Operating Officer	Sale	22,427	$156.00	$3.5M	Form 4
May 26, 2026	Wenger HowardPresident	Sale	62,670	$130.25	$8.2M	Form 4
May 26, 2026	SHUGAR DANIEL SChief Executive Officer	Sale	26,077	$134.72	$3.5M	Form 4
May 26, 2026	LEDESMA BRUCEChief Legal & Compliance Ofc	Sale	3,248	$134.72	$437.6K	Form 4
May 22, 2026	Wenger HowardPresident	Sale	9,051	$121.02	$1.1M	Form 4
May 20, 2026	Wenger HowardPresident	Sale	16,090	$127.32	$2.0M	Form 4
May 20, 2026	Miller Nicholas MarcoChief Operating Officer	Sale	24,511	$127.32	$3.1M	Form 4
Mar 9, 2026	SHUGAR DANIEL SChief Executive Officer	Sale	59,456	$105.17	$6.3M	Form 4
Mar 4, 2026	SHUGAR DANIEL SChief Executive Officer	Sale	39,892	$101.04	$4.0M	Form 4
Mar 2, 2026	BOYNTON CHARLES DChief Financial Officer	Sale	4,500	$100.45	$452.0K	Form 4
Jan 30, 2026	WATKINS WILLIAM DDirector	Sale	5,000	$118.57	$592.9K	Form 4
Dec 11, 2025	Bennett David PChief Accounting Officer	Sale	33,725	$88.08	$3.0M	Form 4

All 49 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

FMR LLCSCHEDULE 13G/A, 7 filings Mar 11, 2024 to Aug 6, 2026⁴¹
BlackRockSCHEDULE 13G/A, 4 filings Oct 18, 2024 to Jul 29, 2026⁴²
VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 30, 2026⁴³
VANGUARD GROUP INCSCHEDULE 13G/A, 5 filings Feb 13, 2024 to Mar 27, 2026⁴⁴
PRIMECAP MANAGEMENT CO/CA/SCHEDULE 13G/A, 1 filing Feb 11, 2026⁴⁵
TPG GP A, LLCSC 13G/A, 2 filings Feb 13, 2024 to Nov 14, 2024⁴⁶

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

Fund	Shares	Value	Share of the fund	Change
BlackRock, Inc.	21,140,588	$2.5B	0.0%	−3,732,069
Fmr LLC	18,753,360	$2.2B	0.1%	−1,495,578
Primecap Management Co/ca/	6,688,767	$796.9M	0.5%	−72,080
Vanguard Capital Management LLC	6,504,906	$775.0M	0.0%	+98,953
Vanguard Portfolio Management LLC	5,956,173	$709.6M	0.0%	−748,536
Invesco Ltd.	4,868,539	$580.0M	0.0%	+129,640
State Street Corp	4,741,459	$564.8M	0.0%	−722,045
Wellington Management Group Llp	3,427,333	$408.3M	0.1%	−314,175
Geode Capital Management, LLC	3,423,197	$407.9M	0.0%	−986,932
Fundsmith LLP	2,856,092	$340.3M	2.5%	New
Pictet Asset Management Holding SA	2,562,428	$304.8M	0.3%	−198,364
BNP PARIBAS ASSET MANAGEMENT Holding S.A.	2,042,385	$243.3M	0.2%	+856,341
Royal London Asset Management Ltd	1,796,811	$214.1M	0.4%	+238,300
Jupiter Topco LLC	1,705,478	$203.3M	0.1%	New
Amundi	1,678,452	$200.0M	0.0%	+198,231
UBS Group AG	1,661,709	$198.0M	0.0%	+94,128
Bank Of America Corp /de/	1,613,763	$192.3M	0.0%	+45,528
Alliancebernstein L.P.	1,586,056	$191.2M	0.1%	−868,508
Dimensional Fund Advisors LP	1,536,015	$182.9M	0.0%	−94,528
Charles Schwab Investment Management Inc	1,527,051	$181.9M	0.0%	−298,857
Morgan Stanley	1,384,447	$164.9M	0.0%	+107,746
Norges Bank	1,340,331	$159.7M	0.0%	New
Fuller & Thaler Asset Management, Inc.	1,313,321	$156.5M	0.4%	−30,409
Northern Trust Corp	1,239,263	$147.6M	0.0%	−586,240
Driehaus Capital Management LLC	1,207,194	$143.8M	0.8%	+169,643

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARNextpower Inc. filings on SEC EDGAR
2
GLEIFNextpower Inc. LEI record (2138001D4HUZ48PR8M23)
3
SEC EDGARNextpower Inc. 10-K for fiscal 2026
4
SEC EDGARNextpower Inc. filings on SEC EDGAR
5
SEC EDGARNextpower Inc. annual report, Item 1 (Business)
6
SEC EDGARNextpower Inc. 10-K for fiscal 2021
7
SEC EDGARNextpower Inc. 10-K for fiscal 2022
8
SEC EDGARNextpower Inc. 10-K for fiscal 2023
9
SEC EDGARNextpower Inc. 10-Q for fiscal 2025
10
SEC EDGARNextpower Inc. 10-Q for fiscal 2025
11
SEC EDGARNextpower Inc. 10-Q for fiscal 2025
12
SEC EDGARNextpower Inc. 10-Q for fiscal 2025
13
SEC EDGARDaniel S. Shugar, Chief executive officer
14
SEC EDGARHoward Wenger, President
15
SEC EDGARBruce Ledesma, President
16
SEC EDGARCharles D. Boynton, Chief financial officer
17
SEC EDGARDavid P. Bennett, Chief financial officer
18
SEC EDGARRobert Vinje, Chief operating officer
19
SEC EDGARNicholas Marco Miller, Chief operating officer
20
SEC EDGARDavid P. Bennett, Chief Accounting Officer
21
SEC EDGARBruce Ledesma, Pres, Strat'y, Software & Admn
22
SEC EDGARLeah Schlesinger, GC, Ch Eth & Compl Off'r & Sec
23
SEC EDGARMark Menezes, Board member
24
SEC EDGARMonica Karuturi, Board member
25
SEC EDGARJulia Blunden, Board member
26
SEC EDGARHoward Wenger, Board member
27
SEC EDGARJeffrey B. Guldner, Board member
28
SEC EDGARCharles D. Boynton, Board member
29
SEC EDGARChristian Bauwens, Board member
30
SEC EDGARDavid Scott Offer, Board member
31
SEC EDGARJonathan J. Coslet, Board member
32
SEC EDGARMichael P. Hartung, Board member
33
SEC EDGARPaul Lundstrom, Board member
34
SEC EDGARRebecca Sidelinger, Board member
35
SEC EDGARWilliam D. Watkins, Board member
36
SEC EDGARWilly C. Shih, Board member
37
SEC EDGARBrandi Elizabeth Thomas, Board member
38
SEC EDGARKyra Lynn Whitten, Board member
39
SEC EDGARLindsey Roon Wiedmann, General counsel
40
SEC EDGARBruce Ledesma, General counsel
41
SEC EDGARFMR LLC SCHEDULE 13G/A on Nextpower Inc.
42
SEC EDGARBlackRock SCHEDULE 13G/A on Nextpower Inc.
43
SEC EDGARVANGUARD CAPITAL MANAGEMENT LLC SCHEDULE 13G on Nextpower Inc.
44
SEC EDGARVANGUARD GROUP INC SCHEDULE 13G/A on Nextpower Inc.
45
SEC EDGARPRIMECAP MANAGEMENT CO/CA/ SCHEDULE 13G/A on Nextpower Inc.
46
SEC EDGARTPG GP A, LLC SC 13G/A on Nextpower Inc.