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SolarMax Technology (SMXT) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Oct 8, 2026 · SolarMax Technology (SMXT) Q2 2026 earnings results →
Q2 2026 Revenue up 49% year over year to $10.2M · 45¢ of every $1 of revenue lost · operating margin -43.5%
SolarMax Technology made $10.2M in Q2 2026 (+49% Y/Y). Operating margin -43.5%, net loss $4.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 8, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $10.2M in Q2 2026, up 49% year over year and down 31% from the previous quarter.
Gross margin was 23.6%, up 14.8 points from Q2 2025. Operating costs exceeded revenue by $4.5M, an operating margin of -43.5%. Operating expenses grew 190% against revenue growth of 49%. The fastest-growing cost line was General & admin (+11%). The quarter ended with a net loss of $4.7M, wider than the previous quarter's $307K loss.
Operating cash flow was −$1.0M. Non-cash charges added back $12K of depreciation and amortization. Working capital and other items added $3.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Oct 8, 2026 | $10.2M | +49% | -43.5% | −$4.7M | −$969K |
| Q1 2026 | 10-Q | May 15, 2026 | $14.8M | +114% | 0.6% | −$307K | −$4.2M |
| Q4 2025 | 10-K | Apr 6, 2026 | $46.6M | +624% | -2.7% | −$872K | −$2.5M |
| Q3 2025 | 10-Q | Nov 14, 2025 | $30.6M | +383% | -6.9% | −$2.3M | $3.4M |
| Q2 2025 | 10-Q | Aug 14, 2025 | $6.9M | +54% | -25.7% | −$1.9M | $221K |
| Q1 2025 | 10-Q | May 16, 2025 | $6.9M | +20% | -16.7% | −$1.3M | −$601K |
| Q4 2024 | 10-K | Mar 31, 2025 | $6.4M | -47% | -27.9% | −$3.9M | −$1.3M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About SolarMax Technology
We are an integrated solar and renewable energy company. A solar energy system retains the direct current (DC) electricity from the sun and converts it to alternating current (AC) electricity that can be used to power residential homes and commercial businesses. The solar business is based on the ability of the users of solar energy systems to save on energy costs and reduce their carbon imprint as compared with power purchased from the local electricity utility company. We were founded in 2008 to engage in the solar business in the United States, where our business is primarily conducted.
In its own words, from its 10-K, filed Apr 6, 2026.
SolarMax Technology against its Construction - Special Trade Contractors peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +49% against the peers' median +25%. Operating margin: -43.5% against the peers' median 6.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| SMXT SolarMax Technology | Q2 2026 | $10.2M | +49% | -43.5% |
| LGN Legence | Q2 2026 | $1.3B | +111% | -0.5% |
| RUN Sunrun | Q3 2026 | $1.1B | +52% | 14.0% |
| AMRC Ameresco | Q2 2026 | $515M | +9% | 8.6% |
| AGX Argan | Q2 FY27 | $384M | +62% | 14.8% |
| LMB Limbach Holdings | Q3 2026 | $230M | +25% | 6.5% |
| MTRX Matrix Service | Q1 FY27 | $219M | +4% | 2.0% |
| BBCP Concrete Pumping Holdings | Q3 FY26 | $117M | +13% | 12.9% |
| SPWR SunPower | Q2 2026 | $54.9M | -17% | -42.8% |
Source: SolarMax Technology 10-Q on SEC EDGAR · CIK 1519472 · Construction - Special Trade Contractors
More on SMXT
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results