SolarMax Q1 revenue $5.8M, net loss $19.3M on IPO stock comp charge

SolarMax Technology, Inc.

2024-Q1 EPS reported -$0.46 revenue$5,764,074

Revenue $5.8M, down 55% from $12.9M YoY; cites CA rebate change & heavy rains.
Gross profit loss of $0.5M (incl. $1.3M stock comp) vs. $2.1M profit in Q1 2023.
Net loss $19.3M includes $17.2M non-cash stock compensation from IPO option vesting.
Q1 2023 benefited from one-time surge ahead of April 2023 CA solar rebate change.
No forward guidance provided in the release.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SolarMax Technology, Inc. reported the quarter ended March 31, 2024 results: revenue $5.8 million, net income $19.3 million.

Period: the quarter ended March 31, 2024
Revenue: $5.8 million
Net income: $19.3 million
Result: reported results

Exact text from the filing

or the “Company”), an integrated solar energy company, today reported financial results for the quarter ended March 31, 2024. First Quarter Highlights · Revenues were $5.8 million, compared to $12.9 million in the first quarter of 2023. · Cost of revenues included a one-time stock-based compensation expense of $1.3 million, resulted in gross profit of

View on SEC.gov

1047 earnings releases filed in the last 30 days. Browse all earnings releases →

SolarMax Technology, Inc. filing history →

Source: SEC EDGAR

accession 0001640334-24-000822

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.