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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