SolarMax Technology Q2 2026 loss widens to $4.7M

Operating expenses included a one-time $4.3 million legal judgment expense relating to the China segment.

Rhea-AI Filing Summary

SolarMax Technology, Inc. (SMXT) reported second-quarter 2026 revenue of $10.2 million, up 49% from $6.9 million in the second quarter of 2025, and gross profit of $2.4 million, up 299% 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 was $4.7 million, or $0.98 per share, compared with a $1.9 million net loss, or $0.50 per share, in the prior-year quarter. SolarMax said it remains focused on engineering, procurement and construction (EPC) projects, cost management, and pursuing opportunities in large-scale energy storage. Its stated growth initiatives include scaling commercial solar development services, providing industrial EPC services and LED lighting solutions in the U.S., and expanding residential solar operations.

2 points · 0 major

MixediHow this balance works

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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.

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1 major · 2 points

How the balance works

Positive

• Moderate pointRevenue increased 49% to $10.2 million year over year.
• Moderate pointGross profit increased 299% to $2.4 million year over year.

Negative

• Major pointOperating expenses included a one-time $4.3 million legal judgment expense. 19% of market cap
• Minor pointNet loss was $4.7 million, compared with $1.9 million in the prior-year quarter.

Filing Explained

At June 30, 2026, SolarMax had $37,158,233 in total cash and investments, equal to 3,488.6 days of second-quarter operating cash outflow at that quarter’s rate.

Sources and calculations

• SolarMax Technology Form 8-K with second-quarter 2026 results (2026-10-08)
• SolarMax Technology second-quarter 2026 fundamentals (2026Q2)

• Available liquidity against the last reported quarterly operating outflow, in days at that rate ($2,158,233 + $35,000,000) / ($969,261 / 91) = 3488.6 days

Key Figures

Revenue: $10.2 million Gross profit: $2.4 million Total operating expense: $6.9 million +3 more

6 metrics

Revenue $10.2 million Second quarter 2026; up 49% from $6.9 million in the second quarter of 2025

Gross profit $2.4 million Second quarter 2026; up 299% from $605,000 in the second quarter of 2025

Total operating expense $6.9 million Second quarter 2026; compared with $2.4 million in the second quarter of 2025

Legal judgment expense $4.3 million One-time expense relating to the China segment

Net loss $4.7 million Second quarter 2026; compared with $1.9 million in the second quarter of 2025

Loss per share $0.98 per share Second quarter 2026; compared with $0.50 per share in the second quarter of 2025

Key Terms

engineering, procurement and construction, gross profit, gross margin, large-scale energy storage

4 terms

engineering, procurement and construction technical

"focus remains on our engineering, procurement and construction (“EPC”) projects"

A contract model where a single firm is responsible for designing a project, buying the necessary materials and equipment, and building it to completion — like hiring one general contractor to plan, shop for, and construct a house. Investors care because these contracts concentrate responsibility and risk in one party: a fixed-price, turnkey deal can offer predictable revenue and clearer timelines, but cost overruns, delays or quality problems can directly affect a contractor’s profits and a project owner’s returns.

gross profit financial

"Gross profit: $2.4 million"

Gross profit is the amount a business keeps from sales after subtracting the direct costs to make or buy the products or services sold — like the money left from a lemonade stand after paying for lemons, sugar and cups. Investors watch gross profit to judge how well a company’s core operations and pricing cover those direct costs, revealing its basic profitability and whether margins are improving or shrinking over time.

gross margin financial

"improvement in gross profit and gross margin"

Gross margin is the difference between how much money a company makes from selling its products and how much it costs to produce them, expressed as a percentage of sales. It shows how efficiently a company is turning sales into profit before other expenses like marketing or salaries. Higher gross margin means the company keeps more money from each sale, which is a good sign of financial health.

large-scale energy storage technical

"pursuing additional opportunities in large-scale energy storage"

Earnings Snapshot

Revenue: $10.2 million

Second quarter 2026

Revenue $10.2 million up 49% from $6.9 million in the second quarter of 2025

Gross profit $2.4 million up 299% from $605,000 in the second quarter of 2025

Total operating expense $6.9 million compared with $2.4 million in the second quarter of 2025

Net loss $4.7 million compared with $1.9 million in the second quarter of 2025

Loss per share $0.98 per share compared with $0.50 per share in the second quarter of 2025

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were SMXT's second-quarter 2026 revenue and gross profit?

SolarMax reported second-quarter 2026 revenue of $10.2 million, up 49% from $6.9 million, and gross profit of $2.4 million, up 299% from $605,000 in the second quarter of 2025.

What were SMXT's second-quarter 2026 net loss and operating expenses?

Net loss was $4.7 million, or $0.98 per share, compared with a $1.9 million net loss, or $0.50 per share, in the second quarter of 2025. Operating expenses totaled $6.9 million and included a one-time $4.3 million legal judgment expense relating to the China segment.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/09/2026 - 05:05 PM Accepted by SEC EDGAR 10/09/2026 - 05:05 PM Learn about SEC filing dates

EXHIBIT 99.1

SolarMax Technology Reports Second Quarter 2026 Financial Results

RIVERSIDE, CA – October 8, 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, up 49% from $6.9 million in the second quarter of 2025.
	·	Gross profit: $2.4 million, up 299% 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 49% and gross profit rising to $2.4 million,” stated David Hsu, CEO of SolarMax. “While a one-time $4.3 million legal judgment expense relating to our China segment contributed to a higher net loss, we achieved substantial improvement in gross profit and gross margin compared with the prior-year period. Our focus remains on our engineering, procurement and construction (“EPC”) projects, managing costs carefully and pursuing additional opportunities in large-scale energy storage. We believe our expansion into industrial EPC services provides a foundation for long-term growth and 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 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.

1

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

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Filing Exhibits & Attachments

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• EX-99.1 PRESS RELEASE 10.4 KB

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• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 4.9 KB
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• EX-101 XBRL TAXONOMY EXTENSION CALCULATION LINKBASE 910 B
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