SolarMax Technology, Inc. reported financial results for the quarter ended September 30, 2025.
Revenue increased by 383% to $30.6 million compared to the third quarter of 2024.
Gross profit decreased by 24% to $956,000 due to the timing of recognizing revenue on an industrial project.
Revenue Growth
Revenue surged by 383% to $30.6 million in the third quarter of 2025 compared to the same period in 2024.
Cost Management
Operating expenses were significantly reduced by $8.2 million to $3.1 million in the third quarter of 2025.
Profit Improvement
Net loss improved by $7.3 million to $2.3 million in the third quarter of 2025 compared to the same period in 2024.
Strategic Expansion
SolarMax expanded its operations to include services for industrial EPC projects and LED lighting solutions in the US in the third quarter of 2025.
- SolarMax reported a substantial increase in revenue driven by project milestones like the Texas battery storage project.
- The decrease in gross profit was attributed to the accounting treatment for the engineering, procurement, and construction industrial project.
- The company's cost management strategy and diversification across end markets have strengthened its foundation for sustained growth.
SolarMax Technology's financial performance in the third quarter of 2025 reflects significant revenue growth and strategic expansion efforts. Despite a decrease in gross profit, the company's focus on cost management and diversification positions it well for sustainable growth and long-term shareholder value.