SOLARMAX TECHNOLOGY INC. overview

RIVERSIDE, Calif., Dec. 12, 2024 (GLOBE NEWSWIRE) -- SolarMax Technology, Inc. (Nasdaq SMXT) (“SolarMax” or the “Company”), an integrated solar energy company, has entered into a Memorandum of Understanding (MOU) with Sunelement Energy Inc., a domestic manufacturer of solar panels (“Sunelement”), for the installation of a solar power and battery project in East Dublin, Georgia. The proposed project contemplates an electricity grid-connected photovoltaic solar power facility with a...

RIVERSIDE, Calif., Dec. 10, 2024 (GLOBE NEWSWIRE) -- SolarMax Technology, Inc. (Nasdaq SMXT) (“SolarMax” or the “Company”), an integrated solar energy company, has entered into a Memorandum of Understanding (MOU) with SOS Limited (NYSE: SOS), whose business activities include cryptocurrency mining, to develop large-scale solar power and battery storage facilities in Nevada, Texas and Florida to provide power for SOS’ blockchain and cryptocurrency operations. The MOU contemplates the...

RIVERSIDE, Calif., Nov. 15, 2024 (GLOBE NEWSWIRE) -- SolarMax Technology, Inc. (Nasdaq SMXT) (“SolarMax” or the “Company”), an integrated solar energy company, today reported financial results for the quarter ended September 30, 2024. Third Quarter Highlights Revenue: $6.3 million, compared with $14.3 million in Q3 2023. Gross profit: $1.3 million, compared with $4.0 million in Q3 2023. Total operating expense: $11.3 million, including a $7.5 million goodwill impairment relating to the...

RIVERSIDE, Calif., Aug. 15, 2024 (GLOBE NEWSWIRE) -- SolarMax Technology, Inc. (Nasdaq SMXT) (“SolarMax” or the “Company”), an integrated solar energy company, signed a non-binding term sheet for a significant new commercial solar project in California. The project, a major mall in the San Jose area, represents another step forward in SolarMax' ongoing strategy to expand its solar development capabilities in the US commercial market. The proposed California project is to include the...

RIVERSIDE, Calif., Aug. 14, 2024 (GLOBE NEWSWIRE) -- SolarMax Technology, Inc. (Nasdaq SMXT) (“SolarMax” or the “Company”), an integrated solar energy company, today reported financial results for the quarter ended June 30, 2024. Second Quarter Highlights Revenue: $4.5 million, compared to $14.8 million in Q2 2023. Gross profit: $0.6 million, compared to $2.1 million in Q2 2023. Total operating expense: $3.0 million, compared to $3.0 million in Q2 2023. Net loss: $2.2 million ($0.05 per...

RIVERSIDE, Calif., July 24, 2024 (GLOBE NEWSWIRE) -- SolarMax Technology, Inc. (Nasdaq SMXT) (“SolarMax” or the “Company”), an integrated solar energy company, announced that it plans to offer engineering, procurement and construction services, known as EPC services, for large scale solar systems in the United States, which would include both solar power and EV charging stations. As the initial step in this business plan, SolarMax has signed a non-binding memorandum of understanding for...

RIVERSIDE, CA / ACCESSWIRE / May 16, 2024 / SolarMax Technology, Inc. (Nasdaq:SMXT) ("SolarMax" or the "Company"), an integrated solar energy company, today reported financial results for the quarter ended March 31, 2024. First Quarter Highlights Revenues were $5.8 million, compared to $12.9 million in the first quarter of 2023. Cost of revenues included a one-time stock-based compensation expense of $1.3 million, resulted in gross profit of ($0.5) million, compared to $2.1 million in the first...

RIVERSIDE, CA / ACCESSWIRE / April 16, 2024 / SolarMax Technology, Inc. (NASDAQ:SMXT) ("SolarMax" or the "Company"), an integrated solar energy company, today reported financial results for its fiscal year ended December 31, 2023. Fiscal Year 2023 Financial Highlights Revenue increased to $54.1 million, up 21% from 2022 Gross profit increased to $11.1 million, up 49% from 2022 Gross margin improved to 21%, up from 17% in 2022 Total operating expense decreased to $10.7 million, down 31% from 2022...