---
schema_version: "secwatch.filing_event.v1"
accession: "0001640334-24-000681"
form_type: "8-K"
ticker: "SMXT"
cik: "0001519472"
company_name: "SolarMax Technology, Inc."
filed_at: "2024-04-18T23:59:59+00:00"
generated_at: "2026-06-03T18:49:31.830356+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# SolarMax posts FY2023 net income of $0.4M vs loss of $6.9M; revenue up 21%

## Summary
- Revenue reached $54.1M, a 21% increase over 2022, driven by US market demand.
- Gross profit rose 49% to $11.1M; gross margin expanded to 21% from 17%.
- Total operating expense decreased 31% to $10.7M, improving profitability.
- Net income of $0.4M, reversing a $6.9M net loss in the prior year.
- CEO cites operational efficiency and recent IPO as foundation for future growth.

## SEC filing metadata
- accession: 0001640334-24-000681
- form_type: 8-K
- ticker: SMXT
- cik: 0001519472
- company_name: SolarMax Technology, Inc.
- filed_at: 2024-04-18T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1519472/000164033424000681/0001640334-24-000681-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1519472/000164033424000681/solarmax_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001640334-24-000681
- JSON: https://secwatch.observer/filing/0001640334-24-000681.json
- Plain text: https://secwatch.observer/filing/0001640334-24-000681.txt

## Key facts
- Earnings Releases
  SolarMax Technology, Inc. reported fiscal year ended December 31, 2023 results: revenue $54.1 million, net income $0.4 million.
  - Period: fiscal year ended December 31, 2023
  - Revenue: $54.1 million
  - Net income: $0.4 million
  - Result: reported results
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1519472/000164033424000681/0001640334-24-000681-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.