---
schema_version: "secwatch.filing_event.v1"
accession: "0001640334-25-000562"
form_type: "8-K"
ticker: "SMXT"
cik: "0001519472"
company_name: "SolarMax Technology, Inc."
filed_at: "2025-04-01T23:59:59+00:00"
generated_at: "2026-05-24T00:43:37.012896+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001640334-25-000562
- form_type: 8-K
- ticker: SMXT
- cik: 0001519472
- company_name: SolarMax Technology, Inc.
- filed_at: 2025-04-01T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- 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/1519472/000164033425000562/0001640334-25-000562-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1519472/000164033425000562/solarmax_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001640334-25-000562
- JSON: https://secwatch.observer/filing/0001640334-25-000562.json
- Plain text: https://secwatch.observer/filing/0001640334-25-000562.txt

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