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Oct 9, 2026, 5:05 PM ETTechnology

SolarMax Technology — Second Quarter 2026 Earnings Summary

SMXTSOLARMAX TECHNOLOGY INC
Source

Financial Performance

  • Revenue for the three months ended June 30, 2026, was $10.2 million, representing a 49% increase from $6.9 million in the second quarter of 2025.
  • Gross profit reached $2.4 million, a 299% increase from $605,000 in the second quarter of 2025.
  • Total operating expenses were $6.9 million, compared to $2.4 million in the second quarter of 2025.
  • Operating expenses included a one-time legal judgment expense of $4.3 million related to the China segment.
  • Net loss was $4.7 million, or $0.98 per share, compared to a net loss of $1.9 million, or $0.50 per share, in the second quarter of 2025.

Business Segments and Product Lines

  • The company focuses on engineering, procurement, and construction (EPC) projects.
  • Operations expanded in the third quarter of 2025 to include EPC services for industrial projects and LED lighting solutions in the US.
  • The company is pursuing opportunities in large-scale energy storage.
  • Strategic initiatives aim to scale commercial solar development services and expand residential solar operations.

Management Commentary and Tone

  • CEO David Hsu stated that results demonstrate continued year-over-year progress with significant improvements in gross profit and gross margin.
  • Management noted that the higher net loss was driven by a one-time $4.3 million legal judgment expense related to the China segment.
  • The CEO emphasized a focus on managing costs carefully and believes the expansion into industrial EPC services provides a foundation for long-term growth and shareholder value.

Other Key Points

  • The company is a Nasdaq-listed entity (SMXT) based in Riverside, California, founded in 2008.
  • A one-time $4.3 million legal judgment expense was incurred specifically relating to the China segment.
  • Forward-looking statements reference the ability to commence services on other EPC contracts entered into in December 2025 as a key future factor.
  • The press release directs readers to the Form 10-K for the year ended December 31, 2025, and the Form 10-Q for the quarter ended June 30, 2026, for detailed risk factors and management discussion.