---
schema_version: "secwatch.filing_event.v1"
accession: "0001640334-24-000822"
form_type: "8-K"
ticker: "SMXT"
cik: "0001519472"
company_name: "SolarMax Technology, Inc."
filed_at: "2024-05-16T23:59:59+00:00"
generated_at: "2026-06-01T20:59:41.359294+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001640334-24-000822
- form_type: 8-K
- ticker: SMXT
- cik: 0001519472
- company_name: SolarMax Technology, Inc.
- filed_at: 2024-05-16T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1519472/000164033424000822/0001640334-24-000822-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1519472/000164033424000822/solarmax_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001640334-24-000822
- JSON: https://secwatch.observer/filing/0001640334-24-000822.json
- Plain text: https://secwatch.observer/filing/0001640334-24-000822.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1519472/000164033424000822/0001640334-24-000822-index.htm

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