SolarMax Technology, Inc. (SMXT) Form 10-Q — Oct 7, 2026
SolarMax Technology's 10-Q for the six months ended June 30, 2026 shows revenue of $25.1 million, up about 82% from $13.8 million a year earlier, driven by the transition to large-scale battery storage EPC work including the $120.1 million Longfellow project in Texas. Despite the top-line growth, the company reported a net loss of $5.0 million for the six months, including a $4.3 million China legal judgment expense, and carries a stockholders' deficit of $16.1 million with only $2.2 million in cash.
Key figures
- Revenue
- 25074229
- Total Debt
- 24550000
- Revenue Yoy
- 81.6% (six months ended June 30, 2026 vs. 2025: $25.07M vs $13.81M)
- Total Assets
- 110506673
- Cash Position
- 2158233
- Shares Outstanding
- 4742167
- Q2 revenue
- 10243612
- Longfellow ar
- 9400000
- Reverse split ratio
- 1:12
- Nasdaq mvlv deadline
- December 21, 2026
- Naguabo contract value
- approximately $122.3 million
- Navboot contract value
- approximately $258.1 million
- Yabucoa contract value
- approximately $35.9 million
- Debt due next 12 months
- approximately $20.7 million
- Nasdaq mvlv requirement
- 35000000
- Working capital deficit
- approximately $1.2 million
- Longfellow contract value
- approximately $120.1 million plus $7.2 million financing income
- Maximum exposure longfellow
- approximately $61.6 million
- China legal judgment expense
- 4264102
- Convertible notes in default
- 13700000
- Gross margin six months 2026
- $5.46M gross profit
- Contract value remaining longfellow
- approximately $61.1 million
- Private placement proceeds six months
- approximately $1.1 million at a 25% discount
AI analysis
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