v3.26.1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
Value of Initial Fixed
$100 Investment Based On:
Year
Summary
Compensation
Table Total
for PEO(1)(2)
($)
Compensation
Actually Paid
to PEO(3)
($)
Average
Summary
Compensation
Table Total
for Non-PEO
NEOs(1)(2)
($)
Average
Compensation
Actually Paid
to Non-PEO
NEOs(3)
($)
Total
Stockholder
Return(4)
($)
Peer
Group
Total
Stockholder
Return(5)
($)
Net
Income(6)
($)
Revenue(7)(8)
($)
(a)(b)(c)(d)(e) (f)(g) (h)(i)
FY202622,204,244 64,419,952 9,011,785 26,695,632  396 132  585,883,000 3,559,390,000 
FY202520,097,412 34,592,657 9,109,211 14,300,511 138 100 517,246,000 2,959,197,000 
FY202420,725,590 22,608,078 8,207,944 9,103,237 185 97 496,215,000 2,499,841,000 
FY20239,178,856 12,042,936 4,592,852 5,630,395 119 99 121,333,000 1,907,137,000 
      
Company Selected Measure Name Revenue      
Named Executive Officers, Footnote Our non-PEO NEOs in FY25 included Charles Boynton, Howard Wenger, Bruce Ledesma, Nicholas (Marco) Miller and David Bennett. Our non-PEO NEOs in FY24 included Charles Boynton, Howard Wenger, Bruce Ledesma, Nicholas (Marco) Miller, Léah Schlesinger and David Bennett.      
PEO Total Compensation Amount $ 22,204,244 $ 20,097,412 $ 20,725,590 $ 9,178,856
PEO Actually Paid Compensation Amount $ 64,419,952 34,592,657 22,608,078 12,042,936
Adjustment To PEO Compensation, Footnote Compensation for our PEO reflects the amounts reported in the “Summary Compensation Table” for the respective years. Our PEO for all fiscal years shown was Daniel Shugar.CAP for the PEO and average CAP for our non-PEO NEOs in FY26 reflects the respective amounts set forth in columns (b) and (d), adjusted as follows in the table below, as determined in accordance with SEC rules. These dollar amounts do not reflect the actual amount of compensation earned by or paid to the PEO and our other NEOs during the applicable year. The amounts reflected in the table below for the year-over-year change in fair value of equity awards granted to our NEOs in FY26.
PEO
FY26
($)		Non-PEOs
FY26
($)
Summary Compensation Table Total22,204,244 9,011,785 
Less Stock Award Value Reported in Summary Compensation Table for the Covered Year
(19,442,288)(7,746,922)
Plus Fair Value for Awards Granted in the Covered Year
16,879,470 6,684,436 
Change in Fair Value of Outstanding Unvested Awards from Prior Years
18,318,201 8,168,923 
Change in Fair Value of Awards from Prior Years that Vested in the Covered Year
26,460,325 10,577,410 
Less Fair Value of Awards Forfeited during the Covered Year
— — 
Plus Fair Value of Incremental Dividends or Earnings Paid on Stock Awards
— — 
Compensation Actually Paid64,419,952 26,695,632 
Fair values set forth in the table above are computed in accordance with FASB ASC 718 as of the end of the respective fiscal year, other than fair values of awards that vest in the covered year, which are valued as of the applicable vesting date or fair values of awards that were forfeited in the covered year, which are valued as of the last day of the year immediately preceding the covered year. 		     
Non-PEO NEO Average Total Compensation Amount $ 9,011,785 9,109,211 8,207,944 4,592,852
Non-PEO NEO Average Compensation Actually Paid Amount $ 26,695,632 14,300,511 9,103,237 5,630,395
Adjustment to Non-PEO NEO Compensation Footnote CAP for the PEO and average CAP for our non-PEO NEOs in FY26 reflects the respective amounts set forth in columns (b) and (d), adjusted as follows in the table below, as determined in accordance with SEC rules. These dollar amounts do not reflect the actual amount of compensation earned by or paid to the PEO and our other NEOs during the applicable year. The amounts reflected in the table below for the year-over-year change in fair value of equity awards granted to our NEOs in FY26.
PEO
FY26
($)		Non-PEOs
FY26
($)
Summary Compensation Table Total22,204,244 9,011,785 
Less Stock Award Value Reported in Summary Compensation Table for the Covered Year
(19,442,288)(7,746,922)
Plus Fair Value for Awards Granted in the Covered Year
16,879,470 6,684,436 
Change in Fair Value of Outstanding Unvested Awards from Prior Years
18,318,201 8,168,923 
Change in Fair Value of Awards from Prior Years that Vested in the Covered Year
26,460,325 10,577,410 
Less Fair Value of Awards Forfeited during the Covered Year
— — 
Plus Fair Value of Incremental Dividends or Earnings Paid on Stock Awards
— — 
Compensation Actually Paid64,419,952 26,695,632 
Fair values set forth in the table above are computed in accordance with FASB ASC 718 as of the end of the respective fiscal year, other than fair values of awards that vest in the covered year, which are valued as of the applicable vesting date or fair values of awards that were forfeited in the covered year, which are valued as of the last day of the year immediately preceding the covered year. 		     
Compensation Actually Paid vs. Total Shareholder Return
Compensation Actually Paid Versus TSR Versus Peer Group TSR
The following graph shows how the amount of compensation actually paid to our PEO and the average amount of compensation actually paid to our other NEOs compared with our cumulative TSR and the cumulative TSR of our peer group over the covered fiscal years.
1026
For additional details regarding how TSR was utilized under our FY26 LTIP to link pay with performance, please refer to Compensation Discussion and Analysis—Compensation—Setting Process and FY26 Executive Compensation—Long-Term Incentive Plan of this Proxy Statement. 		     
Compensation Actually Paid vs. Net Income
Compensation Actually Paid Versus Net Income
The following graph shows how the amount of compensation actually paid to our PEO and the average amount of compensation actually paid to our other NEOs compared with our Net Income over the covered fiscal years.
1556
      
Compensation Actually Paid vs. Company Selected Measure
Compensation Actually Paid Versus Revenue
The following graph shows how the amount of compensation actually paid to our PEO and the average amount of compensation actually paid to our other NEOs compared with our revenue over the covered fiscal years.
1811
For additional details regarding how revenue was utilized under our FY26 compensation program to link pay with performance, please refer to Compensation Discussion and Analysis—Compensation—Setting Process and FY26 Executive Compensation of this Proxy Statement.
      
Tabular List, Table The following table sets forth an unranked list of the financial performance measures that we view as the “most important” measures for linking our NEOs’ compensation to performance. For more information on the financial performance metrics that are listed below and how they are utilized in our compensation program, please see the section titled “Compensation Discussion and Analysis”.
Performance Measures
Revenue
Adjusted EBITDA*
Adjusted diluted EPS
Adjusted free cash flow*
      
Total Shareholder Return Amount $ 396 138 185 119
Peer Group Total Shareholder Return Amount 132 100 97 99
Net Income (Loss) $ 585,883,000 $ 517,246,000 $ 496,215,000 $ 121,333,000
Company Selected Measure Amount 3,559,390,000 2,959,197,000 2,499,841,000 1,907,137,000
Additional 402(v) Disclosure Total Stockholder Return (TSR) is cumulative for the measurement periods beginning on the effective date of our IPO on February 9, 2023 and ending on each of March 31, 2023, March 31, 2024, March 31, 2025 and March 31, 2026, respectively, calculated in accordance with Item 201(e) of Regulation S-K. The Peer Group for purposes of this table is the same as our Peer Group as determined under Item 201(e) of Regulation S-K and described in the section titled “Stock Performance Graph.”Based on the advice of Meridian, a thorough review of the benchmarking Peer Group was conducted in FY26. Based on that review, our Peer Group was updated to include the following companies: Array Technologies, Inc.; Dropbox, Inc.; EnerSys; Enphase Energy, Inc.; F5, Inc.; First Solar, Inc.; Fluence Energy, Inc.; Juniper Networks, Inc.; Keysight Technologies, Inc.; Logitech International, S.A.; NetApp, Inc.; nVent Electric plc; Okta, Inc.; Pure Storage, Inc.; Resideo Technologies, Inc.; Skyworks Solutions, Inc.; SolarEdge Technologies, Inc.; Sunnova Energy International Inc.; Sunrun Inc. and Trimble Inc.
If no changes were made to the historical compensation benchmarking consisting of the following companies: Advanced Energy Industries, Inc.; Arcosa, Inc.; Array Technologies, Inc.; EnerSys; First Solar, Inc.; Generac Holdings Inc.; Gibraltar Industries, Inc.; Itron, Inc.; Littelfuse, Inc.; MKS Instruments, Inc.; Shoals Technologies Group, Inc.; SolarEdge Technologies, Inc.; SunPower Corporation; Sunrun Inc.; and Wolfspeed, Inc., the value of a $100 investment made on 2/9/2023 would be as follows:
Year EndNextpower
($)		Historical
Compensation
Peer Group
($)
2026396141
202513874
202418581
2023106102
Reflects “Net Income” in the Company’s Consolidated Statements of Income included in the Company’s Annual Reports on Form 10-K for the fiscal years ended March 31, 2023, March 31, 2024, March 31, 2025 and March 31, 2026, respectively.
*     “Adjusted EBITDA,” “Adjusted diluted EPS” and “adjusted free cash flow” are non-GAAP metrics. See Appendix A of this Proxy Statement for definitions of adjusted EBITDA (with respect to the adjusted EBITDA performance metric), adjusted diluted EPS (with respect to the adjusted diluted EPS performance metric) and adjusted free cash flow (with respect to the adjusted free cash flow performance metric) and a reconciliation of these non-GAAP measures to the most comparable GAAP financial measures.
Represents the Revenue of the Company, as measured by the Company in accordance with Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers. 		     
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (19,442,288)      
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 16,879,470      
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 18,318,201      
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 26,460,325      
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 0      
Non-PEO NEO | Measure:: 1        
Pay vs Performance Disclosure        
Name Performance Measures      
Non-PEO NEO | Measure:: 2        
Pay vs Performance Disclosure        
Name Revenue      
Non-PEO NEO | Measure:: 3        
Pay vs Performance Disclosure        
Name Adjusted EBITDA*      
Non-PEO NEO | Measure:: 4        
Pay vs Performance Disclosure        
Name Adjusted diluted EPS      
Non-PEO NEO | Measure:: 5        
Pay vs Performance Disclosure        
Name Adjusted free cash flow*      
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (7,746,922)      
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 6,684,436      
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 8,168,923      
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 10,577,410      
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 0