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NASDAQ · CONSTRUCTION - SPECIAL TRADE CONTRACTORS

SolarMax Technology, Inc. SMXT

4 fiscal years on record · USD · FY2025 reported · SEC filings only
$91.0M
▲ 295.8% YoY
$-6.3M

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Since the third quarter of 2025, its primary business has been negotiating contracts and performing EPC services for solar-based BESS commercial systems. Prior to the third quarter of 2025, its primary business was the sale and installation of photovoltaic and battery backup systems for residential and commercial customers, and sales of LED systems and services to government and commercial users. In 2015, the Company commenced operations in the PRC, and it engaged in business in China through 2021. In March 2024, the Company issued 5,039,950 shares of common stock in its initial public offering at a public offering price of $4.00 per share, less a 6% underwriting discount, pursuant to an underwriting agreement with Kingswood, a division of Kingswood Capital Partners, LLC, as representative of the underwriters. On March 15, 2026, the Company had 72 employees in the United States, of which five were executives, 24 were in sales and marketing, 31 were in operations and installation and 13 were in accounting and administrative, and it had seven employees in China, of which one was an executive, and six were in accounting and administrative.

Written from the business description in SolarMax Technology, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 6 April 2026. Every sentence was checked against that document before publication.

Growth

USD 91.0M
Revenue, FY2025 · full 4-year series below
Revenue $M Net income $M
FY2025 · Revenue 91.0 · Net income -6.3
40M80M-15M-30M
20222025
Compound annual growth
+26.7%
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−7 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -6.9% · Net -7.0%
-50%-100%-150%
202220232025
ROE

Not applicable: equity was zero or negative in this period, so return on equity has no meaning.

Three returns, three denominators.
Return on equityNot applicable: equity was zero or negative in this period, so return on equity has no meaning.
Return on capital employedNot applicable: capital employed was zero or negative in this period, so return on capital employed has no meaning.

Cash & shareholders

·
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2024 · FCF -9.1
2M3M-4M-8M
202220232025

Total assetsUSD 91.3M
EquityUSD -12.2M
CashUSD 8.0M
Gross debtUSD 20.2M
Net debtUSD 12.2M
Current ratio0.79×

Equity was zero or negative — liabilities equaled or exceeded assets. No ratio is shown.

The 4-year record

4 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
SMXT, 4-year financial record
Metric 2025202420232022
Revenue $B0.10.00.10.0
Operating income $B−0.0−0.00.0−0.0
EBITDA $B−0.0−0.00.0−0.0
Income tax $B−0.00.0−0.00.0
Net income $B−0.0−0.00.0−0.0
Free cash flow $B◌−0.00.0−0.0
EPS, diluted $−0.13−0.790.01−0.17
Dividend / sh $◌◌◌◌
Payout % — not applicable: no dividend————
ROE % — not applicable: negative equity————
Shares out B0.050.050.040.04

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

Other companies filing in the same sector

Provenance

Company facts, as filed

How we verify · 0 failures in 20 reconciliationsAUDITED

Reconciled in 4 of the 4 fiscal years we could check. 30 checks were skipped: the balance sheet is not tagged before 2022. 15 checks were skipped: EPS is not tagged before 2022. 15 checks were skipped: revenue is not tagged before 2022.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityConstruction - Special Trade Contractors
Listed onNASDAQ
Incorporated inNevada
Fiscal year endsDecember 31
SEC categoryemerging growth company
Data on record since2022

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