SolarMax Technology (SMXT) Financial Statements & Analysis

SolarMax Technology (SMXT) Income Statement

SolarMax Technology reported revenue of $90.98M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 295.8% from $22.99M a year earlier. SolarMax Technology posted a net loss of $6.33M, compared with a net loss of $34.96M a year earlier. Gross margin was 4.6% and operating margin -6.9%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $10.24M, up 48.8% from the same quarter a year earlier.

SolarMax Technology Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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SolarMax Technology, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2024	FY 2023	FY 2023	FY 2022	FY 2021	FY 2020	FY 2018	FY 2017
Period ending	Dec 2025	Mar 2025	Dec 2024	Mar 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	90.98	22.99	22.99	54.14	54.14	44.72	37.74	131.58	89.83	88.93
Cost of Revenue	86.75	20.67	19.41	42.99	42.99	37.24	31.79	115.13	80.58	78.35
Gross Profit	4.23	2.31	2.31	11.15	11.15	7.48	5.95	16.45	9.25	10.58
Operating Expenses
Research & Development	0.00	0.00	-	0.00	-	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	10.53	27.96	10.68	10.67	10.67	15.45	12.15	12.71	20.20	18.80
Operating Expenses	10.53	35.42	35.42	10.67	10.67	15.45	12.15	12.71	20.20	18.80
Operating Income	-6.30	-33.10	-33.10	0.48	0.48	-7.97	-6.20	3.74	-10.95	-8.22
Other Income/Expense
Interest Income	0.54	0.50	0.70	0.07	0.07	0.06	0.19	0.12	0.43	0.45
Interest Expense	1.37	1.57	-1.57	1.58	1.58	1.83	2.00	-3.21	1.95	1.85
Other Income/Expense	-0.34	-0.19	-0.19	-0.11	1.39	2.90	2.58	0.13	-3.21	-2.18
Income
Income Before Tax	-7.46	-33.30	-33.30	0.37	0.37	-6.83	-3.62	2.44	-14.71	-11.00
Income Tax Expense	-1.13	1.66	1.66	-0.06	-0.06	0.04	-0.30	1.49	-0.01	1.07
Net Income	-6.33	-34.96	-34.96	0.43	0.43	-6.87	-3.32	0.97	-14.60	-11.93
Net Income - Continuous Operations	-6.33	-34.96	-34.96	0.43	0.43	-6.87	-3.32	0.97	-14.60	-11.93
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-	-
EBITDA	-4.49	-30.19	-7.02	3.56	3.56	-3.63	-1.26	5.22	-12.15	-7.06
EBIT	-6.09	-	-7.11	-	1.95	-5.00	-1.62	3.74	-	-
Depreciation & Amortization	1.60	1.55	0.08	1.61	1.61	1.37	0.36	1.48	0.62	2.08
Earnings Per Share
Basic EPS	-	-9.00	-9.00	-	-	-	-1.00	-	-4.00	-3.00
Diluted EPS	-	-9.00	-1.00	-	-	-	-1.00	-	-4.00	-3.00
Basic Shares Outstanding	49.98	3.70	3.70	3.71	44.50	44.50	3.96	40.00	3.75	3.75
Diluted Shares Outstanding	49.98	3.76	3.70	3.71	44.50	47.50	3.96	40.16	3.75	3.75

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About SolarMax Technology Financial Statements

What was SolarMax Technology's revenue in fiscal 2025?

SolarMax Technology reported revenue of $90.98M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 295.8% from $22.99M a year earlier.

Is SolarMax Technology profitable?

No. SolarMax Technology reported a net loss of $6.33M in fiscal 2025. In fiscal 2024 it lost $34.96M.

What is SolarMax Technology's operating margin?

SolarMax Technology's operating income was −$6.30M on revenue of $90.98M in fiscal 2025, an operating margin of -6.9%, compared with -144.0% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition