Highest-materiality recent filing
SolarMax receives Nasdaq delisting notice for failure to meet $35M market value requirement
Received Nasdaq notice on June 22, 2026 for non-compliance with minimum market value of listed securities rule ($35M).
Director Steve Chen resigns from SolarMax board for health reasons
Steve Chen resigned as director on March 18, 2026, citing health.
SolarMax Q1 revenue $14.8M (+114% YoY); net loss narrows to $0.3M
Revenue of $14.8M, up 114% from $6.9M in Q1 2025.
SolarMax files investor presentation for April 2026 meetings; no material updates disclosed
Presentation attached as Exhibit 99.1; intended for use in meetings starting April 27, 2026.
SolarMax Tech reports FY2025 revenue of $91M, up 296% YoY; net loss narrows to $6.3M
Revenue $91.0M vs $23.0M in FY2024; gross profit $4.2M, up 83% YoY.
SolarMax receives Nasdaq deficiency notice for bid price below $1
Received Nasdaq notice on March 3, 2026 for failing minimum $1 bid price requirement.
SolarMax extends Riverside facility lease to 2033; annual rent starts at $1.86M
Lease at 3080 12th St, Riverside extended from Dec 31, 2026 to Dec 31, 2033; annual base rent escalates from $1,855,566 in 2026 to $2,282,112 in 2033.
SolarMax signs three BESS EPC contracts totaling ~$416M; two in Puerto Rico, one in Texas
Naguabo BESS (Puerto Rico) 320 MWh; contract revenue ~$122.3M; SolarMax gets 9% membership interest.
SolarMax Q3 revenue surges 383% to $30.6M; net loss narrows to $2.3M
Revenue $30.6M, up 383% YoY from $6.3M, driven by Texas battery storage EPC project.
SolarMax stockholders elect directors and ratify CBIZ as auditor for FY2025
All five nominees elected to one-year terms: David Hsu, Simon Yuan, Wei Yuan Chen, Lei Zhang, Steve Chen.
SolarMax issues 5.7M shares at $0.74-$0.83 each, raising $4.38M for working capital
Issued 5,712,402 shares to five investors at 75% of market price ($0.74-$0.83/share).
SolarMax director Dr. Wen-Ching (Stephen) Yang will not stand for re-election
Dr. Yang notified the Board on September 26, 2025 of his decision not to stand for re-election.
Director Jinxi Lin will not stand for re-election to SolarMax board
Jinxi Lin notified the Board on September 21, 2025, that he would not stand for re-election.
SolarMax Q2 revenue up 53% to $6.9M; net loss narrows; announces $127M EPC contract
Revenue $6.9M (+53% YoY); gross profit $605K (+2.9%); operating expenses down 20% to $2.4M.
SolarMax subsidiary signs $127.3M EPC contract for 430 MWh Texas BESS
EPC contract with Longfellow BESS I LLC for a 430 MWh battery storage facility in Pecos County, TX; revenue ~$127.3M.
SolarMax Q1 revenue $6.9M, net loss narrows to $1.3M from $19.3M YoY
Revenue of $6.9M, up 19% from $5.8M in Q1 2024.
SolarMax auditor Marcum resigns; going concern doubt reiterated; CBIZ appointed
Marcum LLP resigned as independent auditor on April 29, 2025; no disagreements or reportable events.
SolarMax reports FY2024 revenue down 57% to $23M, net loss of $35M vs. prior-year profit
Revenue of $23.0M, down from $54.1M in 2023; gross profit fell to $2.3M from $11.1M.
SolarMax regains compliance with Nasdaq $50M market value listing requirement
Nasdaq confirmed that for 10 consecutive business days (Nov 25–Dec 9, 2024) market value was ≥$50M.
SolarMax regains Nasdaq bid-price compliance but still below $50M market value
On Dec 4, 2024, Nasdaq confirmed SolarMax regained compliance with minimum bid price rule after 10 consecutive days above $1.00.
SolarMax Q3 2024 revenue down 56% to $6.3M, net loss $9.6M on $7.5M goodwill impairment
Revenue of $6.3M, down from $14.3M in Q3 2023; gross profit $1.3M vs $4.0M.
SolarMax receives Nasdaq bid price deficiency notice; 180 days to regain compliance
Nasdaq notified SolarMax on Oct 24, 2024 of failure to maintain $1 minimum bid price (Rule 5450(a)(1)).
SolarMax receives Nasdaq delisting notice for market value below $50M
Nasdaq notified SolarMax on Oct 22, 2024 of failure to meet minimum market value of listed securities ($50M) under Rule 5450(b)(2)(A).
SolarMax Q2 2024 revenue falls 70% YoY to $4.5M; net loss widens to $2.2M
Revenue $4.5M, down from $14.8M in Q2 2023, driven by California regulatory change hangover and higher interest rates.
SolarMax Q1 revenue $5.8M, net loss $19.3M on IPO stock comp charge
Revenue $5.8M, down 55% from $12.9M YoY; cites CA rebate change & heavy rains.
SolarMax posts FY2023 net income of $0.4M vs loss of $6.9M; revenue up 21%
Revenue reached $54.1M, a 21% increase over 2022, driven by US market demand.
SolarMax exercises IPO over-allotment, raising ~$20M gross proceeds
Underwriters purchased 539,950 shares at $4.00/share upon partial exercise of overallotment option.
SolarMax Technology completes IPO of 4.5M shares at $4.00 for $18M gross proceeds
IPO of 4,500,000 shares at $4.00 per share; gross proceeds of $18M before expenses.
On March 18, 2026, Steve Chen resigned as a director of SolarMax Technology, Inc. (the “Company”) for reasons of health.
Max materiality 0.85 · Median 0.65 · Most common event earnings