SolarMax Technology Q1 Revenue Soars 114% to $14.8 Million
SMXT•SolarMax Technology posted Q1 2026 revenue of $14.8 million, up 114%, and gross profit of $3.0 million, a 115% increase. Operating expenses rose by $0.4 million to $3.0 million, while net loss narrowed by $1.0 million to $0.3 million, driven by new EPC services on a large-scale energy storage project.
1. First Quarter Financial Performance
SolarMax Technology reported Q1 2026 revenue of $14.8 million, a 114% increase from $6.9 million, and gross profit of $3.0 million, up 115% year-over-year. Operating expenses rose to $3.0 million from $2.6 million, while net loss narrowed by $1.0 million to $0.3 million.
2. Growth Drivers from EPC Projects
The company attributed its financial improvement to the commencement of engineering, procurement and construction services on its first large-scale energy storage project in Q3 2025, which has driven higher-margin contract revenues and improved operational efficiency across its EPC platform.
3. Strategic Expansion and Outlook
SolarMax continues to expand its project pipeline in commercial solar development, industrial EPC, LED lighting solutions and residential installations, aiming to leverage growing demand for integrated solar and storage infrastructure to achieve long-term growth and profitability.
