SolarMax reports FY2024 revenue down 57% to $23M, net loss of $35M vs. prior-year profit

SolarMax Technology, Inc.

2025-Q1 EPS reported -$0.03 revenue$6,927,469

Revenue of $23.0M, down from $54.1M in 2023; gross profit fell to $2.3M from $11.1M.
Net loss of $35.0M ($0.79 per share) vs. net income of $0.4M ($0.01 per share) in 2023.
One-time non-cash charges include $17.2M stock-based compensation and $7.5M goodwill impairment.
CEO cites transitional year and progress in commercial/industrial solar but no contracts yet.

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