v3.25.3
Segment Reporting
6 Months Ended
Sep. 26, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment reporting
Operating segments are defined as components of an enterprise for which separate financial information is available that is evaluated regularly by the Chief Operating Decision Maker (“CODM”), or a decision-making group, in deciding how to allocate resources and in assessing performance. Resource allocation decisions and Nextracker’s performance are assessed by
its Chief Executive Officer, identified as the CODM, using consolidated net income as the primary measure of segment profit to support business expansion, new product development and operational efficiencies.
The measure of segment assets is reported on the unaudited condensed consolidated balance sheets as total consolidated assets.
For all periods presented, Nextracker has one operating and reportable segment. The following table presents significant segment expenses with respect to the Company’s single reportable segment for the three and six-month periods ended September 26, 2025 and September 27, 2024:
Three-month periods endedSix-month periods ended
September 26, 2025September 27, 2024September 26, 2025September 27, 2024
(In thousands)
Revenue$905,268$635,571$1,769,521$1,355,492
Less:
Material cost568,930373,9941,132,224807,018
45X vendor credits(99,069)(50,707)(192,275)(98,010)
Tariffs32,507 2,365 43,3027,939
Freight, labor and other cost of sales110,04085,124211,684176,310
Selling, general and administrative expenses84,62672,127158,562132,954
Research and development26,88919,19348,44935,712
Interest expense7303,6651,9466,945
Other income, net(2,110)(7,382)(8,063)(2,514)
Provision for income taxes35,86419,92869,64847,080
Net income and comprehensive income
$146,861$117,264$304,044$242,058
The following table sets forth geographic information of revenue based on the locations to which the products are shipped:
Three-month periods endedSix-month periods ended
September 26, 2025September 27, 2024September 26, 2025September 27, 2024
Revenue:(In thousands)
U.S.
$686,968$461,806$1,286,466$973,288
Rest of the World
218,300173,765483,055382,204
Total$905,268$635,571$1,769,521$1,355,492
The United States is the principal country of domicile.