• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    SolarMax Technology Reports First Quarter 2025 Financial Results

    5/16/25 7:27:41 PM ET
    $SMXT
    Engineering & Construction
    Consumer Discretionary
    Get the next $SMXT alert in real time by email

    RIVERSIDE, Calif., May 16, 2025 (GLOBE NEWSWIRE) -- SolarMax Technology, Inc. (Nasdaq SMXT) ("SolarMax" or the "Company"), an integrated solar energy company, today reported financial results for the quarter ended March 31, 2025.

    First Quarter 2025 Financial Highlights

    • Revenue: $6.9 million, compared with $5.8 million in the first quarter of 2024.
    • Gross profit: $1.4 million, compared with ($0.5) million in the first quarter of 2024.   Cost of revenues in the first quarter of 2024 included a one-time, non-cash stock-based compensation expense of $1.3 million.
    • Total operating expense: $2.6 million, compared with $18.4 million in the first quarter of 2024. Operating expense in the first quarter of 2024 included a one-time, non-cash stock-based compensation expense of $15.9 million.
    • Net loss: $1.3 million, or $0.03 per share, compared with a net loss of $19.3 million, or $0.46 per share in the first quarter of 2024.

    David Hsu, CEO of SolarMax, stated, "We are encouraged by our progress this quarter, having achieved a 20% increase in revenue and improvement in gross margin despite ongoing inflationary and regulatory pressures. We believe this improvement demonstrates our team's ability to navigate a dynamic market while enhancing operational efficiency and executing on cost containment initiatives."

    "While California's NEM 3.0 policy—which significantly reduced the compensation homeowners receive for excess solar power sent to the grid—continues to impact residential solar demand in the state, we're seeing meaningful traction through our dealer network and our proposed commercial projects," continued Hsu. "We are laying the groundwork for commercial and industrial solar and battery system projects that we believe represent a growth opportunity. Although we have no executed contracts, our development pipeline is active, and we are seeking to position SolarMax for longer-term diversification and growth."

    About SolarMax Technology Inc.

    SolarMax, based in California and founded in 2008, is a leader within the solar and renewable energy sector focused on making sustainable energy both accessible and affordable. SolarMax has established a strong presence in southern California. SolarMax is looking to generate growth with strategic initiatives that aim to scale commercial solar development services and LED lighting solutions in the US while expanding its residential solar operations. For more information, visit www.solarmaxtech.com.

    Any information contained on, or that can be accessed through, our website or any other website or any social media is not a part of this press release.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("Securities Act") as well as Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created by those sections. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "would," "could," "seek," "intend," "plan," "goal," "project," "estimate," "anticipate," "strategy," "future," "likely" or other comparable terms, although not all forward-looking statements contain these identifying words. All statements other than statements of historical facts included in this press release regarding the Company's strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements. Such forward-looking statements are subject to risk and uncertainties, including, but not limited to, including but not limited to the Company's ability to develop its commercial solar business and to be accepted as a provider of commercial solar systems in the United States, and its ability to recommence its operations in China where is has not generated any revenue since 2021, and to respond to any changes in governmental policies relating to renewable energy and those factors described in "Cautionary Note on Forward-Looking Statements" "Item 1A. Risk Factors," and "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations," in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the SEC on March 31, 2025. SolarMax undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events except as required by law. You should read this press release with the understanding that our actual future results may be materially different from what we expect.

    Contact:

    For more information, contact:

    Stephen Brown, CFO

    (951) 300-0711



    Get the next $SMXT alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $SMXT

    DatePrice TargetRatingAnalyst
    More analyst ratings

    $SMXT
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • SolarMax Technology Reports First Quarter 2025 Financial Results

      RIVERSIDE, Calif., May 16, 2025 (GLOBE NEWSWIRE) -- SolarMax Technology, Inc. (Nasdaq SMXT) ("SolarMax" or the "Company"), an integrated solar energy company, today reported financial results for the quarter ended March 31, 2025. First Quarter 2025 Financial Highlights Revenue: $6.9 million, compared with $5.8 million in the first quarter of 2024.Gross profit: $1.4 million, compared with ($0.5) million in the first quarter of 2024.   Cost of revenues in the first quarter of 2024 included a one-time, non-cash stock-based compensation expense of $1.3 million.Total operating expense: $2.6 million, compared with $18.4 million in the first quarter of 2024. Operating expense in the first quart

      5/16/25 7:27:41 PM ET
      $SMXT
      Engineering & Construction
      Consumer Discretionary
    • SolarMax Technology Reports 2024 Financial Results

      RIVERSIDE, Calif., March 31, 2025 (GLOBE NEWSWIRE) -- SolarMax Technology, Inc. (Nasdaq SMXT) ("SolarMax" or the "Company"), an integrated solar energy company, today reported financial results for the year ended December 31, 2024. 2024 Financial Highlights Revenue: $23.0 million, compared with $54.1 million in 2023.Gross profit: $2.3 million, compared with $11.1 million in 2023.   Cost of revenues in 2024 included a one-time, non-cash stock-based compensation expense of $1.3 million.Total operating expense: $35.4 million, which included a one-time, non-cash stock-based compensation expense of $17.2 million and a $7.5 million goodwill impairment relating to our China segment, compared wi

      3/31/25 5:45:00 PM ET
      $SMXT
      Engineering & Construction
      Consumer Discretionary
    • SolarMax Technology Signs MOU for 40-Megawatt Solar Farm in Georgia

      RIVERSIDE, Calif., Dec. 12, 2024 (GLOBE NEWSWIRE) -- SolarMax Technology, Inc. (Nasdaq SMXT) ("SolarMax" or the "Company"), an integrated solar energy company, has entered into a Memorandum of Understanding (MOU) with Sunelement Energy Inc., a domestic manufacturer of solar panels ("Sunelement"), for the installation of a solar power and battery project in East Dublin, Georgia. The proposed project contemplates an electricity grid-connected photovoltaic solar power facility with a total capacity of approximately 40 megawatts, coupled with a battery energy storage system of 150 megawatt-hours. SolarMax is to provide the engineering, procurement, and construction ("EPC") services in connect

      12/12/24 8:00:00 AM ET
      $SMXT
      Engineering & Construction
      Consumer Discretionary

    $SMXT
    SEC Filings

    See more
    • SEC Form 10-Q filed by Solarmax Technology Inc.

      10-Q - SolarMax Technology, Inc. (0001519472) (Filer)

      5/16/25 4:03:14 PM ET
      $SMXT
      Engineering & Construction
      Consumer Discretionary
    • SEC Form NT 10-Q filed by Solarmax Technology Inc.

      NT 10-Q - SolarMax Technology, Inc. (0001519472) (Filer)

      5/16/25 6:06:22 AM ET
      $SMXT
      Engineering & Construction
      Consumer Discretionary
    • Solarmax Technology Inc. filed SEC Form 8-K: Changes in Registrant's Certifying Accountant, Financial Statements and Exhibits

      8-K - SolarMax Technology, Inc. (0001519472) (Filer)

      5/5/25 4:02:23 PM ET
      $SMXT
      Engineering & Construction
      Consumer Discretionary

    $SMXT
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • New insider Hsu Bingwen David claimed ownership of 4,032,298 shares (SEC Form 3)

      3 - SolarMax Technology, Inc. (0001519472) (Issuer)

      2/14/25 2:18:52 PM ET
      $SMXT
      Engineering & Construction
      Consumer Discretionary
    • New insider Yuan Simon claimed ownership of 2,197,088 shares (SEC Form 3)

      3 - SolarMax Technology, Inc. (0001519472) (Issuer)

      2/11/25 11:37:57 AM ET
      $SMXT
      Engineering & Construction
      Consumer Discretionary

    $SMXT
    Financials

    Live finance-specific insights

    See more
    • OKYO Pharma and SolarMax Technology Interviews to Air on the RedChip Small Stocks, Big Money(TM) Show on Bloomberg TV

      ORLANDO, FL / ACCESSWIRE / August 23, 2024 / RedChip Companies will air interviews with OKYO Pharma Ltd. (NASDAQ:OKYO) and SolarMax Technology, Inc. (NASDAQ:SMXT) on the RedChip Small Stocks, Big Money™ show, a sponsored program on Bloomberg TV, this Saturday, August 24, at 7 p.m. Eastern Time (ET). Bloomberg TV is available in an estimated 73 million homes across the U.S.Access the interviews in their entirety at:OKYO Pharma: https://www.redchip.com/assets/access/okyo_accessSolarMax: https://www.redchip.com/assets/access/smxt_accessIn an exclusive interview, Gary S. Jacob, PhD, CEO of OKYO Pharma, appears on the RedChip Small Stocks Big Money™ show on Bloomberg TV to provide a corporate upd

      8/23/24 9:00:00 AM ET
      $OKYO
      $SMXT
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
      Engineering & Construction
      Consumer Discretionary