SolarMax Technology, Inc. (Nasdaq: SMXT) reported its financial results for the three months and six months ended June 30, 2026, in a press release dated October 8, 2026. The company, based in Riverside, California, reported a significant increase in revenue and gross profit for the second quarter of 2026 compared to the same period in the prior year.
For the second quarter of 2026, SolarMax recorded revenue of $10.2 million. This figure represents a 49% increase from the $6.9 million in revenue generated during the second quarter of 2025. The company also reported a gross profit of $2.4 million for the quarter, which is a 299% increase from the $605,000 gross profit recorded in the second quarter of 2025.
Despite the growth in revenue and gross profit, the company reported a net loss of $4.7 million for the quarter, which equates to a loss of $0.98 per share. This compares to a net loss of $1.9 million, or $0.50 per share, in the second quarter of 2025. The company attributed the wider net loss to a one-time legal judgment expense of $4.3 million related to its China segment. Total operating expenses for the quarter were $6.9 million, compared to $2.4 million in the prior year period.
David Hsu, CEO of SolarMax, stated that the results demonstrate continued year-over-year progress, noting that the company achieved substantial improvement in gross profit and gross margin. He highlighted the company's focus on engineering, procurement, and construction (EPC) projects, cost management, and expansion into large-scale energy storage and industrial EPC services.
