SolarMax Technology Reports Q1 2025 Financial Results
SolarMax Technology, Inc. (Nasdaq: SMXT) announced its financial results for the first quarter of 2025, highlighting significant improvements compared to the same period in 2024. The company recorded revenues of $6.9 million, up from $5.8 million, and achieved a gross profit of $1.4 million compared to a loss of $0.5 million the previous year. Operating expenses dramatically decreased to $2.6 million, partly due to reduced one-time stock-based compensation. Despite a net loss of $1.3 million (down from $19.3 million), CEO David Hsu emphasized the company’s resilience in navigating market challenges and focusing on strategic growth in commercial solar projects. Hsu acknowledged ongoing impacts from California’s NEM 3.0 policy on residential demand but expressed optimism about the company’s development pipeline for commercial and industrial solar initiatives.
