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NXT Nextpower (NXT +12%) is powering sharply higher after wrapping up FY26 on a strong note. This supplier of technology for large solar power plants that allows solar panels to follow the sun during the day posted strong upside with its Q4 (Mar) report. Revenue fell 4.7% yr/yr to $880.5 mln, but that was much better than analyst expectations. Also, on a full year basis, FY26 revenue jumped 20% to a record $3.56 bln with record backlog over $5.25 bln.

• Demand remains healthy with strong bookings momentum supported by a flight to quality across its customer base. NXT reported one of the highest booking quarters in company history and exited FY26 with record backlog.
• Management said global electricity demand is undergoing structural changes driven by data centers, electrification, and industrial growth, creating unprecedented demand for new generation capacity.
• NXT described FY26 as a defining inflection point as it evolves from a solar tracker leader into an integrated utility-scale energy technology platform. Adoption is increasing across eBOS, foundations, robotics, and newer offerings such as NX PowerMerge.
• NXT also announced it will acquire Zigor Corp's power conversion business and its US-based subsidiary, Apex Power, for $80.5 mln.
• The acquisition expands NXT into utility-scale power conversion, battery energy storage, and data center markets while rounding out its integrated platform strategy with inverter offerings.
• Management said initial customer demand tied to the acquisition has been promising as NXT builds out its US manufacturing footprint.

Briefing.com Analyst Insight:

Overall, the results and guidance were strong, and management struck a notably bullish tone on the earnings call. NXT's core tracker business continues to perform well and benefited from one of the strongest booking quarters in company history. However, we think the acquisition of Zigor's power conversion business and Apex Power is just as responsible for today's rally because investors are highly rewarding companies with expanding exposure to data centers and power infrastructure. The deal meaningfully broadens NXT's platform strategy by adding solar, storage, and data center power conversion capabilities, positioning the company to capitalize on accelerating electricity demand trends tied to AI and electrification.