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SolarMax Technology cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$969K in Q2 2026 · −$4.3M over twelve months

Operating cash flow−$969K
Free cash flow−$969K
Cash conversion cycle-252 days

Analysis

In Q2 2026, SolarMax Technology generated −$969K of operating cash flow. That is $1.2M less than in Q2 2025 ($221K).

Over the twelve months to Jun 30, 2026, operating cash flow was −$4.3M; the largest uses were shares issued ($69.0B), operating cash flow ($4.3M), net borrowing (+) / repaid (−) ($4.1M); besides operations, cash came from other financing ($69.0B), other investing ($5.2M); the cash balance rose by $245K.

Operating cash flow was −$969K against net income of −$4.7M. The largest differences: payables +$8.1M, receivables −$5.5M, prepaid and other assets +$426K.

Its cash conversion cycle was -252 days (receivables 133 + inventory 19 − payables 405): suppliers fund its working capital.

Free cash flow

SolarMax Technology: free cash flow by quarterSolarMax Technology: free cash flow by quarter$204KQ3 2024−$1.3MQ4 2024−$601KQ1 2025$221KQ2 2025$3.4MQ3 2025−$2.5MQ4 2025−$4.2MQ1 2026−$969KQ2 2026
Operating cash flow less capital spending.
SolarMax Technology: operating cash flow against capital spendingSolarMax Technology: operating cash flow against capital spendingOperating cash flowCapital spending$204K$0Q3 2024−$1.3M$0Q4 2024−$601K$0Q1 2025$221K$0Q2 2025$3.4M$0Q3 2025−$2.5M$0Q4 2025−$4.2M$0Q1 2026−$969K$0Q2 2026
Latest (Q2 2026): Operating cash flow −$969K, Capital spending $0.

Capital allocation, year by year

SolarMax Technology: where the cash came from (up) and went (down), by fiscal yearSolarMax Technology: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY2022: Operating cash flow −$2.0MFY2022: Net borrowing −$7.0MFY2022: Asset sales $92KFY2022: Capital spending −$83K$92KFY2022FY2023: Operating cash flow $4.1MFY2023: Net borrowing −$4.8MFY2023: Asset sales $21KFY2023: Capital spending −$28K$4.1MFY2023FY2024: Operating cash flow −$9.1MFY2024: Net borrowing $900KFY2024: Shares issued $900KFY2024: Asset sales $21K$1.8MFY2024FY2025: Operating cash flow $498KFY2025: Net borrowing −$359K$498KFY2025
Over these 4 years operating cash flow totalled −$6.5M; the largest uses were net borrowing ($12.2M) and operating cash flow ($11.1M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$37.2M
Debt$20.7M
Net cash$16.5M
Cash runway8.7 years

SolarMax Technology is burning cash: its operations consume cash, a free cash flow of −$4.3M a year at the current rate against $37.2M of cash and investments: a runway of about 8.7 years before any new financing.

Where the cash came from and went

SolarMax Technology: sources (+) and uses (−) of cash, Q2 2026SolarMax Technology: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)$2.1MOther investing−$1.0MOperating cash flow−$969KExchange rates−$158KOther financing−$4K
SolarMax Technology: sources (+) and uses (−) of cash, TTM to Q2 2026SolarMax Technology: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$69.0BShares issued−$69.0BOther investing$5.2MOperating cash flow−$4.3MNet borrowing (+) / repaid (−)−$4.1MExchange rates−$293KCash drawn (+) / kept (−)−$245K

From profit to cash

SolarMax Technology: net income to operating cash flow, Q2 2026SolarMax Technology: net income to operating cash flow, Q2 2026Net income−$4.7MDepreciation & amortization$12KDeferred taxes−$25KReceivables−$5.5MInventory$101KPayables$8.1MAccrued liabilities−$102KPrepaid and other assets$426KOperating cash flow−$969K
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 202613319405-252
Q1 20267714460-369
Q4 202526487-57
Q3 202525547-16
Q2 202551285722
Q1 202555295431
Q4 202463244541
Q3 202465284449

Every quarter

QuarterOperating cash flowNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$969K——$2.1M−$969K
Q1 2026−$4.2M——$3.7M−$4.2M
Q4 2025−$2.5M−$700K−$7.2M−$2.2M−$2.5M
Q3 2025$3.4M−$2.3M−$69.0B−$3.8M$3.4M
Q2 2025$221K−$200K—−$1.3M$221K
Q1 2025−$601K−$50K—$189K−$601K
Q4 2024−$1.3M—$373K$89K−$1.3M
Q3 2024$204K——$521K$204K

SolarMax Technology: income statement and cash flow

SolarMax Technology, Q2 2026: revenue $10.2M (+49% year over year), operating margin -43.5%. The chart follows the revenue to costs, profit and cash.

SolarMax Technology: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.