SolarMax Technology Reports Second Quarter 2026 Financial Results
A one-time $4.3 million legal judgment expense relating to the China segment contributed to the higher net loss.
Sentiment and the balance of points
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Rhea-AI Summary
SolarMax Technology (SMXT) reported second-quarter 2026 revenue of $10.2 million, reflecting year-over-year growth for the three months ended June 30.
Revenue rose 49% from $6.9 million in the second quarter of 2025. Gross profit increased 299% to $2.4 million from $605,000. Total operating expense was $6.9 million, compared with $2.4 million a year earlier, and included a one-time $4.3 million legal judgment expense relating to the China segment. Net loss widened to $4.7 million, or $0.98 per share, from $1.9 million, or $0.50 per share, in the second quarter of 2025.
The company said its focus remains on engineering, procurement and construction projects, careful cost management and pursuing additional opportunities in large-scale energy storage.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointRevenue rose 49% to $10.2 million from $6.9 million in the second quarter of 2025.
- Moderate pointGross profit increased 299% to $2.4 million from $605,000 in the second quarter of 2025.
- Minor point. Forward-looking: it has not happened yet and may not happen.Large-scale energy storage remains an area where SolarMax plans to pursue additional opportunities.
Negative
- Major pointOperating expense reached $6.9 million versus $2.4 million a year earlier, including a $4.3 million China-segment legal judgment expense. 21% of market cap
- Moderate pointNet loss widened to $4.7 million, or $0.98 per share, versus $1.9 million, or $0.50 per share, a year earlier.
Details
Market move: SMXT -3.43% vs previous close. 2Q26 earnings report
On Oct 8, the day this news came out, the latest delayed price for SMXT is 3.43% below the previous close. Our momentum scanner has recorded 28 alerts for this stock so far that day. The latest delayed price is $4.50. Relative volume is exceptionally heavy at 17.6x the average.
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Key Figures
- Revenue
- $10.2 million, up 49%
- Second quarter 2026 vs. second quarter 2025
- Gross profit
- $2.4 million, up 299%
- Second quarter 2026 vs. second quarter 2025
- Operating expense
- $6.9 million
- Second quarter 2026; included a one-time legal judgment expense
- One-time legal judgment expense
- $4.3 million
- Related to the China segment
- Net loss
- $4.7 million
- Second quarter 2026 vs. $1.9 million in second quarter 2025
- Loss per share
- $0.98
- Second quarter 2026 vs. $0.50 in second quarter 2025
Previous Earnings Reports
-
Reported $6.9 million revenue and $1.9 million net loss, the comparison period for this release.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
epc technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
RIVERSIDE, Calif., Oct. 08, 2026 (GLOBE NEWSWIRE) -- SolarMax Technology, Inc. (Nasdaq SMXT) (“SolarMax” or the “Company”), an integrated solar energy company, reported financial results for the three months and the six months ended June 30, 2026.
Second Quarter 2026 Financial Highlights
- Revenue:
$10.2 million , up49% from$6.9 million in the second quarter of 2025. - Gross profit:
$2.4 million , up299% from$605,000 in the second quarter of 2025. - Total operating expense:
$6.9 million , which included a one-time expense of$4.3 million legal judgment relating to our China segment, compared with$2.4 million in the second quarter of 2025. - Net loss:
$4.7 million , or$0.98 per share, compared with a net loss of$1.9 million , or$0.50 per share in the second quarter of 2025.
“Our second quarter results demonstrate continued year-over-year progress, with revenue increasing
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 operations to include EPC services for 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.
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, our ability to commence services on other EPC contracts entered into in December 2025 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, 2025, as filed with the SEC on April 6, 2026 and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s Form 10-Q for the quarter ended June 30, 2026, which was filed with the SEC on October 8, 2026. 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
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much did SolarMax Technology's revenue grow in the second quarter of 2026?
SolarMax's second-quarter 2026 revenue increased 49% to $10.2 million, compared with $6.9 million in the second quarter of 2025. Gross profit increased 299% to $2.4 million from $605,000 over the same comparison period.
What was SolarMax Technology's net loss in the second quarter of 2026?
SolarMax reported a net loss of $4.7 million, or $0.98 per share, compared with $1.9 million, or $0.50 per share, in the second quarter of 2025. A one-time $4.3 million legal judgment expense relating to the China segment contributed to the higher loss.