SolarMax Technology (NASDAQ:SMXT), a leading integrated solar energy company, announced record financial results for the fiscal year ended December 31, 2025, marked by a near-fourfold increase in revenue and a significant expansion of its energy storage pipeline.
The company reported total revenue of $91 million for 2025, representing a staggering 296% increase compared to fiscal 2024.
Gross profit for the year rose 83% to $4.2 million.
The surge in top-line performance was primarily fueled by the company’s Engineering, Procurement, and Construction (EPC) services, which accounted for $60.2 million, or approximately 66% of total annual revenue.
SolarMax also demonstrated significant progress in operational efficiency, as total operating expenses plummeted to $10.5 million—a reduction of $24.9 million from the previous year.
This disciplined cost management led to a vastly improved bottom line, with the company’s net loss narrowing to $6.3 million, or $0.13 per share.
The centerpiece of the company's future growth is its burgeoning Battery Energy Storage Systems (BESS) segment.
SolarMax highlighted three major BESS contracts across Texas and Puerto Rico that represent more than $500 million in expected revenue based on current contract terms.
These projects are designed to provide grid stability and renewable integration in regions facing increasing energy volatility.