SolarMax Technology (SMXT) Q4 2025 earnings summary

Executive summary

• Revenue surged 296% year-over-year to $91.0 million for fiscal year 2025, driven by expansion in engineering, procurement, and construction (EPC) projects.

• Net loss narrowed significantly to $6.3 million from $35.0 million in 2024, reflecting improved operational efficiency.

• Gross profit increased 83% to $4.2 million, while total operating expenses dropped by $24.9 million to $10.5 million.

Financial highlights

• Revenue: $91.0 million, up from $23.0 million in 2024.

• Gross profit: $4.2 million, up from $2.3 million in 2024.

• Net loss: $6.3 million ($0.13 per share), improved from $35.0 million ($0.79 per share) in 2024.

• Operating expenses: $10.5 million, down from $35.4 million in 2024.

Outlook and guidance

• Management expects to capitalize on growing demand for energy storage infrastructure.

• Three major BESS contracts in Texas and Puerto Rico represent over $500 million in expected future revenue.