SMXT on Nasdaq
SolarMax Technology, Inc.
We are an integrated solar and renewable energy company.4 From its latest annual report
Price unavailable
Last updated Oct 19, 2026.
Overview
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- TickerSMXT on Nasdaq2
- IndustryConstruction - Special Trade Contractors2
- HeadquartersRiverside, United States2
- Incorporated inNV3
- Business address3080 12Th Street, Riverside, Ca 925073
- Filer category, Emerging growth company3
- Legal formProfit Corporation2
- LEI549300XOTR3IDJBNZM162
- StatusActive2
- LEI statusLapsed (not renewed)2
- Registered addressC/O THE CORPORATE PLACE, INC., 89104 Las Vegas, United States2
- Registered withBusiness Center (Secretary of State), E0025972008-62
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We are an integrated solar and renewable energy company. A solar energy system retains the direct current (DC) electricity from the sun and converts it to alternating current (AC) electricity that can be used to power residential homes and commercial businesses. The solar business is based on the ability of the users of solar energy systems to save on energy costs and reduce their carbon imprint as compared with power purchased from the local electricity utility company. We were founded in 2008 to engage in the solar business in the United States, where our business is primarily conducted.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue95¢$86.8M
- Other costs2¢$1.7M
- Interest2¢$1.4M
- Income tax1¢$1.1M
Out of $91.0M in revenue.5 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Kept or used elsewhere100¢$498.0K
Out of $498.0K of cash from operations.5
Financial statements
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $44.7M6 | $54.1M7 | $23.0M5 | $91.0M5 | |
| Cost of revenue | $37.2M6 | $43.0M7 | $20.7M5 | $86.8M5 | |
| Gross profit | $7.5M6 | $11.1M7 | $2.3M5 | $4.2M5 | |
| Operating expenses | $15.5M6 | $10.7M7 | $35.4M5 | $10.5M5 | |
| Operating income | -$8.0M6 | $483.9K7 | -$33.1M5 | -$6.3M5 | |
| Interest | $1.6M5 | $1.4M5 | |||
| Income before tax | -$6.8M6 | $370.6K7 | -$33.3M5 | -$7.5M5 | |
| Income tax | $41.4K6 | -$64.2K7 | $1.7M5 | -$1.1M5 | |
| Net income | -$6.9M6 | $434.8K7 | -$35.0M5 | -$6.3M5 | |
| Earnings per share | -$0.176 | $0.017 | -$0.795 | -$0.135 | |
| Earnings per share (diluted) | -$0.176 | $0.017 | -$0.795 | -$0.135 | |
| Shares (weighted, basic) | 39.7M shares6 | 39.7M shares7 | 44.3M shares7 | ||
| Shares (weighted, diluted) | 39.7M shares6 | 40.0M shares7 | 44.3M shares5 | 50.0M shares5 |
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash | $9.9M6 | $3.8M7 | $2.5M5 | $786.3K5 | $8.0M5 |
| Receivables | $5.9M6 | $4.2M7 | $4.2M5 | $12.9M5 | |
| Inventory | $3.4M6 | $1.3M7 | $1.3M5 | $2.1M5 | |
| Current assets | $29.1M6 | $19.9M7 | $20.9M5 | $75.3M5 | |
| Property, plant and equipment | $444.2K6 | $291.4K7 | $200.9K5 | $138.9K5 | |
| Goodwill | $8.4M6 | $7.8M7 | $7.6M5 | $05 | $05 |
| Total assets | $61.5M6 | $48.7M7 | $38.6M5 | $91.3M5 | |
| Accounts payable | $2.2M6 | $3.4M7 | $2.7M5 | $59.6M5 | |
| Short-term debt | $20.7M6 | $18.0M7 | $20.2M5 | ||
| Current liabilities | $46.5M6 | $43.4M7 | $34.7M5 | $95.7M5 | |
| Total liabilities | $77.7M6 | $64.5M7 | $53.7M5 | $103.5M5 | |
| Retained earnings | -$69.1M6 | -$68.6M7 | -$103.6M5 | -$109.9M5 | |
| Shareholders’ equity | -$8.4M6 | -$16.2M7 | -$15.9M5 | -$15.1M5 | -$12.2M5 |
| Shares outstanding | 39.7M shares6 | 39.7M shares7 | 45.3M shares5 | 54.9M shares5 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash from operations | -$2.0M6 | $4.1M7 | -$9.1M5 | $498.0K5 | |
| Depreciation and amortization | $277.9K6 | $180.7K7 | $81.5K5 | $61.9K5 | |
| Stock-based compensation | $07 | $18.5M5 | $520.7K5 | ||
| Capital spending | $83.5K6 | $28.0K7 | $07 | ||
| Free cash flow | -$2.1M | $4.1M | -$9.1M | ||
| Cash from investing | -$280.5K6 | -$6.5K7 | -$6.3M5 | $5.8M5 | |
| Cash from financing | -$7.5M6 | -$5.3M7 | $13.3M5 | $1.1M5 |
Leadership
Who has led SolarMax Technology, Inc., and when. Pick a name to see everywhere that person has worked.
- Chief executive officerBingwen David Hsu Feb 14, 2025 to now10
- Chief financial officerStephen P. Brown Feb 20, 2024 to now11
Board members and other officers (2)
- Board memberSimon Yuan Feb 11, 2025 to now12
- Board memberBingwen David Hsu Feb 14, 2025 to now10
Timeline
- Feb 14, 2025New chief executive Bingwen David Hsu becomes CEO10
Filings
101 filings to the SEC since October 2021: 4 annual reports, 8 quarterly reports, 33 major events, 5 insider forms, 3 large holders, 48 other. The latest 20:
- Oct 9, 20268-K EDGAR
- Oct 8, 202610-Q EDGAR
- Aug 21, 20268-K EDGAR
- Aug 17, 2026NT 10-Q EDGAR
- Aug 11, 20268-K EDGAR
- Aug 5, 20268-K EDGAR
- Jul 28, 20268-K EDGAR
- Jun 30, 20268-K EDGAR
- May 19, 20268-K EDGAR
- May 18, 20268-K EDGAR
- May 15, 202610-Q EDGAR
- Apr 27, 20268-K EDGAR
- Apr 14, 202610-K/A EDGAR
- Apr 7, 20268-K EDGAR
- Apr 6, 202610-K EDGAR
- Mar 31, 2026NT 10-K EDGAR
- Mar 10, 20268-K EDGAR
- Feb 3, 20268-K EDGAR
- Jan 6, 20268-K EDGAR
- Nov 17, 20258-K EDGAR
The 101 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Ching LiuSCHEDULE 13G, 1 filing Feb 25, 202513
- Bingwen David HsuSCHEDULE 13G, 1 filing Feb 14, 202514
- Simon YuanSCHEDULE 13G, 1 filing Feb 11, 202515
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 6
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- 12SEC EDGARSimon Yuan, Board member
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