SolarMax Technology Reports Third Quarter 2025 Financial Results

RIVERSIDE, Calif., Nov. 17, 2025 (GLOBE NEWSWIRE) -- SolarMax Technology, Inc. (Nasdaq SMXT) (“SolarMax” or the “Company”), an integrated solar energy company, reported financial results for the quarter ended September 30, 2025.

Third Quarter 2025 Financial Highlights

• Revenue: $30.6 million, up 383% from $6.3 million in the third quarter of 2024.
• Gross profit: $956,000, down 24% from $1.3 million in the third quarter of 2024 due to timing of recognizing revenue versus gross profit on a large industrial project.  
• Total operating expense: $3.1 million, an $8.2 million reduction from $11.3 million in the third quarter of 2024.
• Net loss: $2.3 million, or $0.04 per share, a $7.3 million improvement from a net loss of $9.6 million, or $0.21 per share in the third quarter of 2024.

David Hsu, CEO of SolarMax, stated, “Our third-quarter performance highlighted by the recognition of our first revenues from the Texas battery storage project announced in July. While the $24.1 million we recognized in the third quarter did not generate significant gross profit due to the accounting treatment for this engineering, procurement and construction (“EPC”) industrial project, it represents a meaningful milestone in the execution of our marketing effort to industrial projects. We expect gross profit to begin catching up with revenue as project milestones are completed.”

Hsu continued, “The combination of disciplined cost management, diversification across end markets, and the ramp of industrial projects is strengthening the foundation of our business. With the Texas project underway, we believe we are well positioned to lay the groundwork for sustained growth and long-term shareholder value.”

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 and, commencing in the third quarter of 2025, expanded its United States operations to include services for industrial EPC projects. SolarMax is looking to generate growth with strategic initiatives that aim to scale commercial solar development services and provide EPC services for industrial projects and LED lighting solutions in the US while expanding its residential solar operations. For more information, visit www.solarmaxtech.com.