SolarMax Technology Reports Second Quarter 2026 Financial Results

RIVERSIDE, Calif., Oct. 08, 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.”