Filing Flows › SolarMax Technology (SMXT) › Q3 2025
SolarMax Technology (SMXT) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 14, 2025
SolarMax Technology (SMXT) reported revenue of $30.6M for the third quarter 2025 (Q3 2025), +383% from a year earlier and +345% from the quarter before. Operating margin was -6.9%, net loss $2.3M (7.4% of revenue).
SolarMax Technology, Q3 2025: revenue $30.6M (+383% year over year), operating margin -6.9%, net loss $2.3M, operating cash flow $3.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $30.6M | +345% | +383% |
| Operating profit | −$2.1M | — | — |
| Net earnings | −$2.3M | — | — |
| Operating cash flow | $3.4M | 15× | 17× |
What changed
Revenue was $30.6M in Q3 2025, up 383% year over year and up 345% from the previous quarter.
Gross margin was 3.1%, down 16.7 points from a year earlier. Operating costs exceeded revenue by $2.1M, an operating margin of -6.9%. Operating expenses fell 73% while revenue rose 383%. The quarter ended with a net loss of $2.3M, wider than the previous quarter's $1.9M loss.
Operating cash flow was $3.4M (up 1569% year over year). Non-cash charges added back $13K of depreciation and amortization and $521K of share-based compensation. Working capital and other items added $5.1M.
Questions
What was SolarMax Technology's revenue in the third quarter 2025?
SolarMax Technology (SMXT) reported revenue of $30.6M for the third quarter 2025 (Q3 2025), +383% from a year earlier and +345% from the quarter before.
Was SolarMax Technology profitable in the third quarter 2025?
Operating loss was $2.1M (-6.9% of revenue) and net loss $2.3M.