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May 18, 2026 12:01 PM

SolarMax Technology Reports First Quarter 2026 Financial Results

RIVERSIDE, Calif., May 18, 2026 (GLOBE NEWSWIRE) -- SolarMax Technology, Inc. (Nasdaq SMXT) ("SolarMax" or the "Company"), an integrated solar energy company, reported financial results for the three months ended March 31, 2026.

First Quarter 2026 Financial Highlights

Revenue: $14.8 million, up 114% from $6.9 million in the first quarter of 2025.

Gross profit: $3.0 million, up 115% from $1.4 million in the first quarter of 2025.

Total operating expense: $3.0 million, a $0.4 million increase from $2.6 million in the first quarter of 2025.

Net loss: $0.3 million, or $0.01 per share, a $1.0 million improvement from a net loss of $1.3 million, or $0.03 per share in the first quarter of 2025.

"SolarMax entered 2026 with strong operational momentum, delivering significant year-over-year improvement in our financial result as a result of engineering, procurement and construction ("EPC") services on our first large-scale energy storage initiative which commenced in the third quarter of 2025," stated David Hsu, CEO of SolarMax. "Our first quarter performance reflects continued execution across our EPC platform, improving operating efficiency and ongoing progress on our EPC services for large-scale energy storage projects. As demand for integrated solar and storage infrastructure continues to grow, we remain focused on expanding our project ...

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