Filing Flows › SolarMax Technology (SMXT) › Q4 2025
SolarMax Technology (SMXT) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Apr 6, 2026
SolarMax Technology (SMXT) reported revenue of $46.6M for the fourth quarter 2025 (Q4 2025), +623% from a year earlier and +52% from the quarter before. Operating margin was -2.7%, net loss $872K (1.9% of revenue).
SolarMax Technology, Q4 2025: revenue $46.6M (+624% year over year), operating margin -2.7%, net loss $872K, operating cash flow −$2.5M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $46.6M | +52% | +623% |
| Operating profit | −$1.3M | — | — |
| Net earnings | −$872K | — | — |
| Operating cash flow | −$2.5M | -174% | — |
What changed
Revenue was $46.6M in Q4 2025, up 623% year over year and up 52% from the previous quarter.
Gross margin was 2.7%, down 11.8 points from Q4 2024. Operating costs exceeded revenue by $1.3M, an operating margin of -2.7%. Operating expenses fell 8% while revenue rose 623%. The quarter ended with a net loss of $872K, narrower than the previous quarter's $2.3M loss.
Operating cash flow was −$2.5M. Non-cash charges added back $13K of depreciation and amortization. Working capital and other items used $1.7M.
Questions
What was SolarMax Technology's revenue in the fourth quarter 2025?
SolarMax Technology (SMXT) reported revenue of $46.6M for the fourth quarter 2025 (Q4 2025), +623% from a year earlier and +52% from the quarter before.
Was SolarMax Technology profitable in the fourth quarter 2025?
Operating loss was $1.3M (-2.7% of revenue) and net loss $872K.