RIVERSIDE, Calif., Aug. 14, 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 June 30, 2025.
Second Quarter 2025 Financial Highlights
- Revenue: $6.9 million, up 53% from $4.5 million in the second quarter of 2024.
- Gross profit: $605,000, up 2.9% from $588,000 in the second quarter of 2024.
- Total operating expense: $2.4 million, a $0.6 million reduction from $3.0 million in the second quarter of 2024.
- Net loss: $1.9 million, or $0.04 per share, a $0.3 million decrease from a net loss of $2.2 million, or $0.05 per share in the second quarter of 2024.
David Hsu, CEO of SolarMax, stated, “Our second quarter results reflect meaningful year-over-year progress, with revenue up 53% and operating expenses reduced by 20%, demonstrating our ability to execute more efficiently in a challenging market. While the California residential market remains impacted by NEM 3.0, we continue to see traction with our dealer network and our recently announced commercial EPC agreement.”
“In July we announced a $127.3 million EPC contract for a 430-megawatt hour (MWh) battery storage project in Texas, scheduled for June 2026. This single project will contribute substantially to our top line over the next four quarters and validates our strategic shift toward large-scale commercial and utility-scale projects. We believe this milestone positions SolarMax as a strong competitor in the rapidly expanding large-scale renewable energy sector, and with an active pipeline of additional opportunities, …