v3.26.1
Summary of accounting policies (Tables)
 12 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Allowance for Doubtful Accounts
The following table summarizes the activity in Nextpower’s allowance for credit losses during fiscal years 2026, 2025 and 2024:
Balance at
beginning
of year		Charges/
(recoveries) to
costs and
expenses (1)		Deductions/
Write-Offs		Balance at
end of
year
Allowance for credit losses:(In thousands)
Fiscal year ended March 31, 2024$1,768 $2,197 $(93)$3,872 
Fiscal year ended March 31, 20253,872 (2,399)(1)1,472 
Fiscal year ended March 31, 20261,472 1,050 (444)2,078 
(1)Charges and recoveries incurred during fiscal years 2026, 2025 and 2024 are primarily for costs and expenses or bad debt and recoveries related to various distressed customers.
Summary of Revenue from Customers that Individually Accounted
The following table sets forth the revenue from customers that individually accounted for greater than 10% of the Company's revenue and the respective percentages during the periods included below:
Fiscal year ended March 31,
202620252024
(In millions, except percentages)
Customer G
*
*
*
*
$426.1 17%
* Percentage below 10%
The following table sets forth the percentage of accounts receivable, net and contract assets, from the Company’s largest customers that exceeded 10% of its total accounts receivable, net and contract assets as of the periods included below:
As of March 31,
202620252024
Customer A**12.4%
Customer G**15.5%
Former parent
*11.5%*
* Percentage below 10%
The following table presents Nextpower’s revenue disaggregated based on timing of transfer-point in time and over time for the fiscal years ended March 31, 2026, 2025 and 2024:
Fiscal year ended March 31,
202620252024
(In thousands)
Timing of Transfer
Point in time $442,012$77,037$35,268
Over time3,117,3782,882,1602,464,573
Total revenue$3,559,390$2,959,197$2,499,841
Summary of Product Warranty
The following table summarizes the activity related to the estimated accrued warranty reserve for the fiscal years ended March 31, 2026 and 2025:
As of March 31,
20262025
(In thousands)
Beginning balance$17,981$12,511
Provision for warranties issued20,32511,613
Payments(5,461)(6,143)
Ending balance$32,845$17,981
Summary of Property, Plant and Equipment Repairs and maintenance costs are expensed as incurred. Property and equipment is comprised of the following:
Depreciable life
(In years)		As of March 31,
20262025
(In thousands)
Machinery and equipment
3 - 8
$72,217 $37,929 
Leasehold improvements
Up to 5
17,480 10,854 
Furniture, fixtures, computer equipment and software
3 - 7
19,439 13,515 
Construction-in-progress—11,882 18,942 
121,018 81,240 
Accumulated depreciation(42,662)(20,845)
Property and equipment, net$78,356 $60,395