Nextracker announced strong financial results for the third quarter of fiscal year 2025, which ended December 31, 2024. The company reported revenue of $679 million, contributing to a year-to-date revenue increase of 15% to approximately $2.0 billion. GAAP gross profit for the quarter was $241 million, with a 35.5% margin.
Adjusted EBITDA for the quarter expanded to $186 million, an 11% increase compared to the prior year, representing a 27.4% adjusted EBITDA margin. Adjusted diluted EPS reached $1.03. These results included approximately $52 million from IRA 45X advanced manufacturing tax credit vendor rebates.
The company's backlog grew to a new record of significantly over $4.5 billion, providing strong revenue visibility. Based on this performance, Nextracker raised its fiscal year 2025 adjusted EBITDA outlook to a range of $700 million to $740 million and adjusted diluted EPS to $3.75 to $3.95, while reaffirming its revenue guidance of $2.8 billion to $2.9 billion.
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