SolarMax delays Q2 report, sees $0.4M loss

SolarMax Technology, Inc. filed a Form 12b-25 to notify a delay in filing its Form 10-Q for the quarter ended June 30, 2026.

Rhea-AI Filing Summary

SolarMax Technology, Inc. filed a Form 12b-25 to notify a delay in filing its Form 10-Q for the quarter ended June 30, 2026. Management cites the need for additional time to resolve an ASC 606 (Revenue from Contracts with Customers) revenue-recognition analysis and to allow its independent registered public accounting firm to complete its review.

Based on preliminary results, the company expects to report a loss of approximately $0.4 million for the three months and $0.7 million for the six months ended June 30, 2026, compared with losses of $1.9 million and $3.2 million for the same periods in 2025. These figures are described as preliminary estimates and may change once the ASC 606 analysis and full reporting process are completed.

Positive

• Preliminary results indicate a significantly lower quarterly loss of about $0.4 million versus $1.9 million a year earlier.
• Preliminary six-month loss is expected to narrow to about $0.7 million from $3.2 million in the prior-year period.

Negative

• The company will delay filing its Form 10-Q for the quarter ended June 30, 2026.
• Additional review is required to resolve an ASC 606 revenue recognition analysis, adding accounting and reporting uncertainty.
• Management states that the preliminary loss figures are subject to change once the reporting process and ASC 606 analysis are completed.

Key Figures

Preliminary quarterly net loss 2026: $0.4 million Quarterly net loss 2025 (comparative): $1.9 million Preliminary six-month net loss 2026: $0.7 million +3 more

6 metrics

Preliminary quarterly net loss 2026 $0.4 million Loss for the three months ended June 30, 2026

Quarterly net loss 2025 (comparative) $1.9 million Loss for the three months ended June 30, 2025

Preliminary six-month net loss 2026 $0.7 million Loss for the six months ended June 30, 2026

Six-month net loss 2025 (comparative) $3.2 million Loss for the six months ended June 30, 2025

Form type Form 12b-25 (NT 10-Q) Notification of late filing for quarter ended June 30, 2026

Extension window 5 calendar days Allowed late-filing period for a quarterly report under Rule 12b-25(b)

Key Terms

ASC 606, Revenue from Contracts with Customers, Form 12b-25, forward-looking statements, +1 more

5 terms

ASC 606 financial

"time period in order to resolve an ASC 606, which is titled"

A U.S. accounting standard that sets consistent rules for when and how companies record revenue from contracts with customers, focusing on the transfer of promised goods or services. It matters to investors because it affects the timing and amount of reported sales and profit—like deciding whether a contractor can count payment when a job starts, progresses, or finishes—so it improves comparability and helps assess a company's true economic performance.

Revenue from Contracts with Customers financial

"ASC 606, which is titled “Revenue from Contracts with Customers.”"

Form 12b-25 regulatory

"This notification contains or may contain, among other things"

Form 12b-25 is a notice a publicly traded company files with the U.S. Securities and Exchange Commission when it cannot deliver a required periodic report (like a quarterly or annual financial report) on time. It explains the reason for the delay and gives the company a short, temporary window to finish the report without being marked as delinquent; investors watch it because late filings can signal accounting, operational, or control issues that may affect a company’s reliability and stock risk, much like a missed homework deadline can raise concerns about a student’s preparedness.

forward-looking statements regulatory

"This notification contains or may contain, among other things, certain forward-looking statements"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Private Securities Litigation Reform Act of 1995 regulatory

"forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995."

FAQ

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

Why is SolarMax Technology (SMXT) delaying its Form 10-Q filing for June 30, 2026?

SolarMax Technology is delaying its Form 10-Q to complete an ASC 606 revenue recognition analysis and allow its independent registered public accounting firm to finish its review. The company states that filing now would require unreasonable effort or expense.

What preliminary quarterly results does SMXT expect for the three months ended June 30, 2026?

SolarMax Technology preliminarily expects a loss of about $0.4 million for the quarter ended June 30, 2026, compared with a $1.9 million loss for the same quarter in 2025. These figures are estimates and may change after completing the ASC 606 analysis.

What preliminary year-to-date results does SMXT expect for the six months ended June 30, 2026?

For the six months ended June 30, 2026, SolarMax Technology expects a loss of about $0.7 million, versus a $3.2 million loss for the six months ended June 30, 2025. Management notes these are preliminary and subject to revision.

What accounting issue is affecting SMXT’s June 30, 2026 Form 10-Q?

SolarMax Technology reports it needs more time to resolve an ASC 606 (Revenue from Contracts with Customers) analysis. The company must compile and analyze supporting documentation and complete its review under this revenue-recognition standard before filing.

When does SMXT expect to file the delayed Form 10-Q for June 30, 2026?

SolarMax Technology indicates it intends to file the delayed Form 10-Q within the Rule 12b-25 extension period, which permits filing up to five calendar days after the original due date for a quarterly report.

Are SMXT’s preliminary loss figures for June 30, 2025 final in this notification?

No. The notification states that prior-period figures for the three and six months ended June 30, 2025 are preliminary estimates as of this filing date and may change after completion of the ASC 606 analysis and full reporting process.

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

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Available on EDGAR 08/17/2026 - 04:58 PM Accepted by SEC EDGAR 08/17/2026 - 04:58 PM Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 12b-25

NOTIFICATION OF LATE FILING

SEC FILE NUMBER: 001-41959

(Check One):	☐ Form 10-K      ☐ Form 20-F        ☐ Form 11-K        ☒ Form 10-Q        ☐ Form 10-D        ☐ Form N-SAR
	☐ Form N-CSR
For period ended:	June 30, 2026

☐	Transition Report on Form 10-K
☐	Transition Report on Form 20-F
☐	Transition Report on Form 11-K
☐	Transition Report on Form 10-Q
☐	Transition Report on Form N-SAR

For the transition period ended: ___________________________________________________

Read Instruction (on back page) Before Preparing Form. Please Print or Type.

Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.

If the notification relates to a portion of the filing checked above, identify the item(s) to which the notification relates: 

PART I—REGISTRANT INFORMATION

SolarMax Technology Inc.

Full Name of Registrant

3080 12^th Street

Address of Principal Executive Office (Street and Number)

Riverside, California 92507

City, State and Zip Code

PART II—RULE 12b-25(b) and (c)

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)

☒	(a)	The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;
	(b)	The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and
	(c)	The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

PART III—NARRATIVE

State below in reasonable detail the reasons why the Form 10-Q could not be filed within the prescribed time period.

SolarMax Technology, Inc. (the “Company”) is unable to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 within the prescribed time period in order to resolve an ASC 606, which is titled “Revenue from Contracts with Customers.” Additional time is needed for the Company to compile and analyze supporting documentation in order to complete the Quarterly Report and to permit the Company’s independent registered public accounting firm to complete its review.

PART IV—OTHER INFORMATION

(1) Name and telephone number of person to contact with regard to this notification.

	David Hsu		(951) 300-0788
	(Name)		(Telephone Number)

(2) Have all other periodic reports required under Section 13 or 15(d) or the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If the answer is no, identify report(s). ☒ Yes     ☐ No

(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof? ☒ Yes     ☐ No

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reason why a reasonable estimate of the results cannot be made.

Based on preliminary financial results, the Company expects to report a loss of approximately $0.4 million and 0.7 million for the three and six months ended June 30, 2026, respectively, as compared with a loss of approximately $1.9 million and $3.2 million for the three and six months ended June 30, 2025, respectively.  The financial results presented above for the three and six months ended June 30, 2025 reflect preliminary estimates of the Company’s results of operations as of the date of the filing of the Form 12b-25 and do not reflect any change which may result from the completion of the ACS 606 analysis. These estimates are subject to change upon the completion of the reporting process and review of the Company’s financial statements, and actual results may vary significantly from these estimates.

Cautionary Note on Forward-Looking Statements

This notification contains or may contain, among other things, certain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements involve significant risks and uncertainties.  Such statements may include, without limitation, statements with respect to the Company’s plans, objectives, projections, expectations and intentions and other statements identified by words such as “projects,” “may,” “could,”  “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans” or similar expressions. These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties, including the resolution of the ASC 606 analysis and those described in the sections “Cautionary Note Concerning Forward-Looking Statements, “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s Form 10-K for the year ended December 31, 2025, which was filed with the Securities and Exchange Commission (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 March 31, 2026 which was filed with the SEC on May 15, 2026.  Actual results may differ significantly from those set forth in the forward-looking statements.  These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company’s control).  The Company does not intend to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws.

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SolarMax Technology, Inc.

(Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned heretofore duly authorized.

Date: August 17, 2026	By:	/s/ David Hsu
	Name:	David Hsu
	Title:	Chief Executive Officer (Principal Executive Officer)

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