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SolarMax Technology (SMXT) investor relations material

SolarMax Technology Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary14 Aug, 2025

Executive summary

  • Revenue for Q2 2025 rose 54.5% year-over-year to $6.9M, driven by an 88.2% increase in solar energy sales, despite a 25.9% decline in LED sales and lower financing revenue.

  • Net loss for Q2 2025 was $1.9M ($0.04 per share), an improvement from a $2.2M loss in Q2 2024.

  • Operating expenses reduced by 20% to $2.4M, supporting improved efficiency.

  • Strategic focus is shifting toward large-scale commercial and utility projects, highlighted by a $127.3M Texas battery storage contract.

  • Dealer network program contributed to 48% of revenues in H1 2025, up from 11% in H1 2024.

Financial highlights

  • Q2 2025 revenue: $6.9M (+54.5% YoY); H1 2025 revenue: $13.8M (+35.2% YoY).

  • Q2 2025 net loss: $1.9M; H1 2025 net loss: $3.2M, a significant improvement from $21.4M loss in H1 2024.

  • Q2 2025 gross profit: $605K; H1 2025 gross profit: $2.0M.

  • Q2 2025 operating expenses: $2.4M (34.4% of revenue), down from $3.0M (67.1%) in Q2 2024.

  • Q2 2025 interest expense: $363K; H1 2025 interest expense: $732K.

Outlook and guidance

  • A $127.3M EPC contract for a 430 MWh battery storage project in Texas is expected to significantly boost revenue over the next four quarters.

  • Anticipates modest residential revenue growth in 2025 via dealer network expansion, offsetting expected declines from the expiration of the federal solar tax credit and NEM 3.0 impacts.

  • The company is positioning for sustained growth and long-term shareholder value through expansion in large-scale renewable projects.

  • No new China projects expected for the remainder of 2025 due to geopolitical and economic conditions.

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Frequently asked questions

SolarMax Technology, Inc. is an integrated solar energy company that operates in the United States and China. The company provides a range of services including the sale and installation of photovoltaic systems and battery backup systems. It also offers LED systems and is involved in identifying and procuring solar farm projects for resale, along with providing engineering, procurement, and construction services for these projects. SolarMax serves residential, commercial, and government clients. The company is headquartered in Riverside, California, and its shares are listed on the NASDAQ.

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