v3.25.4
Segment Reporting
 9 Months Ended
Dec. 31, 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 Nextpower’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, Nextpower 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 nine-month periods ended December 31, 2025 and December 31, 2024:
Three-month periods endedNine-month periods ended
December 31, 2025December 31, 2024December 31, 2025December 31, 2024
(In thousands)
Revenue$909,352$679,363$2,678,873$2,034,855
Less:
Material cost569,633409,7281,701,8571,216,745
45X vendor credits(96,760)(52,182)(289,035)(150,192)
Tariffs43,639 4,488 86,94112,427
Freight, labor and other cost of sales104,70876,426316,392252,737
Selling, general and administrative expenses82,73370,573241,295203,527
Research and development29,29420,09477,74355,806
Interest expense3393,7982,28510,743
Other income, net(4,733)(13,778)(12,796)(16,292)
Provision for income taxes49,26342,842118,91189,922
Net income
$131,236$117,374$435,280$359,432
The following table sets forth geographic information of revenue based on the locations to which the products are shipped:
Three-month periods endedNine-month periods ended
December 31, 2025December 31, 2024December 31, 2025December 31, 2024
Revenue:(In thousands)
U.S.
$735,000$450,410$2,021,466$1,423,698
Rest of the World
174,352228,953657,407611,157
Total$909,352$679,363$2,678,873$2,034,855
The United States is the principal country of domicile.