Here are the 10-Q quarterly reports from Solarmax Technology Inc. (SMXT) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow SMXT and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SMXT filings page.
SolarMax Technology, Inc. reported second-quarter 2026 revenue of $10,243,612, compared with $6,883,004 a year earlier, while net loss was $4,655,699 versus $1,898,777. For the six months ended June 30, 2026, operating cash flow was negative $5,156,405, compared with negative $380,432 in 2025.
At June 30, 2026, cash and cash equivalents were $2,158,233, the working capital deficit was approximately $1.2 million, and $13.7 million of convertible notes were in default. SolarMax said recurring operating losses, negative operating cash flow and other factors raise substantial doubt about its ability to continue as a going concern. Management believes cash, receivable collections and anticipated operating cash flow will cover working-capital needs for at least one year, excluding approximately $20.7 million of debt due in the next 12 months.
A one-for-12 reverse split became effective August 13, 2026, reducing outstanding common shares from 56,906,572 to 4,742,167. The common stock’s closing bid was at least $1.00 for ten consecutive business days before August 31, 2026; a separate $35.0 million Nasdaq market-value requirement has a December 21, 2026 compliance deadline.
SolarMax Technology, Inc. reported Q1 2026 revenue of $14.8 million, up from $6.9 million a year earlier, as large-scale EPC and battery storage projects ramped up. Net loss narrowed to $0.3 million from $1.3 million, essentially breakeven on operations.
Despite better results, the balance sheet remains stressed. Cash and cash equivalents fell to $4.3 million from $8.0 million at year-end, with a working capital deficit of about $17.6 million. Total liabilities of $117.6 million exceed assets, leaving a stockholders’ deficit of $11.4 million. The company is in default on $13.7 million of its $14.1 million convertible notes, and management concludes there is substantial doubt about its ability to continue as a going concern. SolarMax also received a Nasdaq notice for failing to maintain the $1.00 minimum bid price and raised about $1.1 million through discounted equity.
SolarMax Technology, Inc. (SMXT) filed its Q3 2025 report showing sharply higher revenue and a narrower loss alongside a continued going concern warning. Revenue reached $30.6 million for the quarter, up from $6.3 million a year ago, and $44.4 million for the nine months versus $16.6 million last year. The company posted a quarterly net loss of $2.26 million (improved from $9.62 million), and a nine‑month net loss of $5.45 million (better than $31.06 million).
Growth was driven by a new U.S. industrial EPC contract that accounted for 78% of Q3 revenue and 54% year‑to‑date. Cash and equivalents increased to $5.7 million from $0.8 million at year‑end, aided by $4.33 million from a private placement and exchanging $2.9 million of notes for equity. Despite progress, the company reported total liabilities of $70.4 million, a working capital deficit of roughly $15.4 million, an accumulated deficit of $109.0 million, and a stockholders’ deficit of $11.8 million. Management notes substantial doubt about continuing as a going concern, citing about $16.5 million of debt due within twelve months and plans to seek exchanges into five‑year convertible notes.
Solarmax Technology, Inc. (SMXT) reports a challenging quarter with an accumulated deficit of approximately $106.8 million and a stockholders' deficit of about $15.1 million. Cash and cash equivalents were roughly $1.9 million, and the company raised approximately $2.9 million from the sale of common stock during the six months ended June 30, 2025. Shares outstanding were 48,590,542 as of June 30, 2025.
Management disclosed conditions that raise substantial doubt about the company’s ability to meet obligations within one year, citing recurring operating losses, negative operating cash flows, and significant near-term debt. About $20.9 million of debt is due within twelve months; the company is negotiating exchanges of that short-term debt and related-party loans for five-year convertible notes but cannot predict success. The company received payments from project counterparties (totaling RMB 28.2 million reported in stages, about $3.9 million received through July 2025) and has extensions on certain promissory notes through late 2025. Management expects existing cash plus anticipated operating cash will be sufficient for working capital for at least one year only if proposed exchanges and collections occur.