SMXT · Solarmax Technology Inc. Common Stock

SolarMax Technology delivered a transformative fiscal year 2025, characterized by exceptional top-line growth and significantly improved profitability metrics. Revenue surged 296% year-over-year to $91.0 million, primarily driven by the recognition of contributions from the Company's expanding engineering, procurement, and construction (EPC) project portfolio. Specifically, EPC services generated $60.2 million in revenue, accounting for 66% of total revenue for the year ended December 31, 2025. This shift underscores the Company's strategic pivot toward industrial EPC projects, which commenced in the third quarter of 2025.

Profitability metrics showed substantial improvement. Gross profit increased 83% to $4.2 million. Concurrently, the Company achieved a $24.9 million reduction in total operating expenses, which fell to $10.5 million from $35.4 million in the prior year. These operational efficiencies, combined with the revenue growth, resulted in a net loss of $6.3 million, or $0.13 per share—a $28.6 million improvement compared to the net loss of $35.0 million, or $0.79 per share, reported for fiscal year 2024.

Management commentary highlighted a positive outlook anchored by three strategically important Battery Energy Storage System (BESS) contracts for large-scale projects in Texas and Puerto Rico. CEO David Hsu stated these contracts represent more than $500 million in expected revenue based on agreed terms. The Company expressed confidence in its ability to scale the platform and capitalize on accelerating demand for energy storage infrastructure, signaling potential for continued growth momentum.