Consolidated balance sheets - USD ($) $ in Thousands	Mar. 31, 2025	Mar. 31, 2024
Current assets:
Cash and cash equivalents	$ 766,103	$ 474,054
Accounts receivable, net of allowance of $1,472 and $3,872, respectively	472,462	382,687
Contract assets	405,890	397,123
Inventories	209,432	201,736
Section 45X credit receivable	215,616	125,415
Other current assets	88,483	187,220
Total current assets	2,157,986	1,768,235
Property and equipment, net	60,395	9,236
Goodwill	371,018	265,153
Other intangible assets, net	53,241	1,546
Deferred tax assets	498,778	438,272
Other assets	51,098	36,340
Total assets	3,192,516	2,518,782
Current liabilities:
Accounts payable	585,299	456,639
Accrued expenses	97,000	82,410
Deferred revenue	247,127	225,539
Current portion of long-term debt	0	3,750
Other current liabilities	104,086	123,148
Total current liabilities	1,033,512	891,486
Long-term debt, net of current portion	0	143,967
Tax receivable agreement (TRA) liability	394,879	391,568
Long-term deferred revenue	96,635	69,331
Other liabilities	39,360	30,402
Total liabilities	1,564,386	1,526,754
Commitments and contingencies
Stockholders’ equity:
Accumulated deficit	(2,557,410)	(3,066,578)
Additional paid-in-capital	4,185,823	4,027,560
Accumulated other comprehensive (loss) income	(298)	17
Total Nextracker Inc. stockholders’ equity	1,628,130	961,013
Non-controlling interest	0	31,015
Total stockholders’ equity	1,628,130	992,028
Total liabilities and stockholders’ equity	3,192,516	2,518,782
Common Class A
Stockholders’ equity:
Class of common stock, price par value, shares authorized, issued and outstanding	15	14
Common Class B
Stockholders’ equity:
Class of common stock, price par value, shares authorized, issued and outstanding	$ 0	$ 0