SolarMax FY2025 Revenue Soars 296% to $91M, Net Loss Narrows by $28.6M
SolarMax reported FY2025 revenue of $91.0 million, up 296% year-over-year, and gross profit rose 83% to $4.2 million, while operating expenses fell by $24.9 million to $10.5 million. Net loss narrowed to $6.3 million (-$0.13/share), a $28.6 million improvement from 2024, supported by $500 million in BESS contracts.
1. Fiscal Year 2025 Financial Performance
SolarMax posted $91.0 million in revenue for the year ended December 31, 2025, up 296% from $23.0 million in 2024, with gross profit rising 83% to $4.2 million. Operating expenses declined by $24.9 million to $10.5 million, driving net loss down to $6.3 million, or $0.13 per share.
2. EPC Services Contribution
Engineering, procurement and construction services generated $60.2 million, representing 66% of total revenue, reflecting the first full-year contribution of SolarMax’s EPC platform launched in the third quarter of 2025.
3. BESS Contract Backlog
The company secured three battery energy storage system agreements in Texas and Puerto Rico with combined expected revenues exceeding $500 million, underpinning long-term project development and revenue visibility.
4. Growth Strategy and Outlook
SolarMax aims to scale commercial solar development, industrial EPC operations and residential solar services, citing accelerating demand for energy storage infrastructure and confidence in its platform scalability.