Nextpower Inc.

Good afternoon, everyone, and thank you for standing by. My name is Kevin and I will be your conference operator today. Today's call is being recorded. I would like to welcome everyone to NextPower's first quarter fiscal year 2027 earnings call. After the speaker's remarks, there will be a Q&A session. If you would like to ask a question, please raise your hand. If you have dialed into today's call, please press star nine to raise your hand and star six to unmute. At this time for opening remarks, I would like to pass the call over to Miss Sarah Lee, head of investor relations. Sarah, you may begin.

Thank you and good afternoon, everyone. Welcome to NextPower's first quarter fiscal year 2027 earnings call. I'm Sarah Lee, NextPower's head of investor relations, and I'm joined by Dan Shugar, our CEO and founder, Howard Wenger, our president, and Chuck Boynton, our CFO. As a reminder, there will be a replay of this call posted on the IR website, along with the earnings press release and shareholder letter. Today's call contains statements regarding our business, financial performance and operations, including our business and our industry that may be considered forward looking statements. And such statements involve risks and uncertainties that may cause actual results to differ materially from our expectations. Those statements are based on current beliefs, assumptions, and expectations and speak only as of the current date. For more information on those risks and uncertainties, please review our earnings press release shareholder letter and our SEC filings, including our most recently filed quarterly report Form 10-Q and annual report on Form 10-K, which are available on our IR website at investors.nextpower.com. This information is subject to change and we undertake no obligation to to update any forward-looking statements as a result of new information, future events, or changes in our expectations. Please note we will provide gap and non-gap measures on today's call. The full non-gap to gap reconciliations can be found in the appendix to the press release and the shareholder letter, as well as the financial section of the IR website. And now I'll turn the call over to our CEO and founder, Dan.

Good afternoon and thank you for joining us. We are very pleased by the company's performance and positioning as we report on the first quarter of our fiscal year. NexPower delivered a strong quarter characterized by continued bookings momentum and backlog growth, operational discipline and execution, and significant progress in the expansion of our technology platform. We achieved a record quarterly revenue of $935 million with adjusted EBITDA of $233 million. Backlog grew to over $5.5 billion, reflecting healthy customer demand and booking strength across both our core tracker business and our expanding portfolio of non-tracker products. On top of the $5.5 billion, NexPower Energy Storage brings over $300 million of additional backlog. We demonstrated continued progress with our long-term strategy of solving customer problems and delivering tangible value and performance. For most of our history, this meant developing tracker products that help customers lower LCOE, accelerate installation, improve reliability, reduce risk, and increase energy yield. That approach led to global market leadership in solar trackers. According to Wood Mackenzie for 2025 tracker market share, NextPower was recognized as the number one solar tracker company in the U.S. and globally for the 11th consecutive year, growing share to 55% in the U.S. and 30% worldwide. and many more. each project deepens our customer relationships and gives us greater insight into evolving needs of utility scale solar and storage customers. Those insights guide how we invest both organically and through disciplined M&A to enhance the value we can deliver to our customers. Customers continue to ask us to do more as utility scale solar storage and critical power infrastructure projects become larger and more complex. With the acquisition of Prevalon, which closed last Monday, we launched NexPower Energy Storage. Prevalon brings us a proven team with an excellent track record across six gigawatt hours of turnkey storage solutions, spanning applications from dispatchable peaking power to data center stabilization, serving blue chip customers. Thank you very much. and many more. and many more. As we execute on this strategy, we believe we can improve customer outcomes, increase our project participation scope, strengthen Nextpower's competitive moat, and generate attractive long-term returns for shareholders. I also want to proactively address questions around Tuesday's announcement by the FCC related to imported inverters. Nextpower launched a power electronics business to solve customer needs in inverters, which include better operating performance, stronger domestic manufacturing, enhanced cybersecurity, and support from an investment-grade U.S. company that has a strong product service culture. Our new inverter business satisfies these needs and helps to further de-risk customers as we may see additional U.S. government restrictions on overseas inverters. We're pleased to announce today that our acquisition of the Apex inverter business has closed and that our product has achieved Underwriters Laboratories UL 1741 SB certification. We are further accelerating our U.S. manufacturing build-out across multiple locations. We expect deliveries to begin in early 2027 and plan to have over 10 gigawatts of U.S. capacity online next summer. Our UL-certified APEX inverter is designed to enhance cybersecurity using site-level optical fiber communications and is designed to meet all government requirements. Customer response to our inverter technology, manufacturing, cyber, domestic manufacturing and service plan has been very strong. We're doubling down on ramp plan for these essential products and services with the goal of having the highest availability operating inverters for solar and storage power plant owners. The current market environment represents a structural tailwind for our business. Global electricity demand continues to accelerate, driven by electrification, industrial growth, artificial intelligence, data centers, and the need for more reliable and resilient power infrastructure. Solar and storage are the fastest, lowest cost and proven ways to add new capacity. as this market moves forward toward terawatt scale annual deployment volumes. Customers need partners that can deliver high performing, reliable energy infrastructure solutions at scale. We believe Next Power is uniquely positioned to meet that demand. We will be hosting our second Capital Markets Day on November 16th at REplus in Las Vegas where we will provide an update to our 2030 outlook that will reflect a material acceleration due to our strong market momentum, recent strategic acquisitions, and exemplary operational execution. We look forward to seeing many of you there. With that, I'll turn it over to Howard.