SolarMax Technology, Inc. (SMXT)

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SolarMax Technology, Inc.

SMXT • CIK 0001519472

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Revenues	$54,139.33	$22,986.881	$90,982.535	$102,246.291
Cost of Revenue	$42,990.393	$20,672.306	$86,752.407	$94,579.352
Gross Profit	$11,148.937	$2,314.575	$4,230.128	$7,666.939
Net Income (Loss) Attributable to Parent	$434.786	$-34,962.336	$-6,325.368	$-8,092.732
Weighted Average Number of Shares Issued, Basic	39,735,536	44,342,876	49,976,772	9,319,010
Weighted Average Number of Shares Outstanding, Diluted	40,025,153	44,342,876	49,976,772	9,319,010
General and Administrative Expense	$9,507.293	$27,439.177	$10,159.696	$10,828.237
Selling and Marketing Expense	$1,157.793	$517.058	$366.705	$309.195
Goodwill, Impairment Loss	—	$7,461.888	$0	$0
Operating Expenses	$10,665.086	$35,418.123	$10,526.401	$15,401.534
Operating Income (Loss)	$483.851	$-33,103.548	$-6,296.273	$-7,734.595
Interest Income, Other	$68.853	$500.54	$539.439	$212.072
Interest Expense	—	—	$1,366.205	$1,181.152
Income (Loss) from Equity Method Investments	—	—	$253.524	$-157.969
Gain (Loss) on Extinguishment of Debt	$26.821	$302.729	$-976.219	$-608.624
Gain (Loss) on Termination of Lease	$4.212	$77.207	$0	$0
Other Nonoperating Income (Expense)	$499.472	$-144.504	$385.791	$380.452
Nonoperating Income (Expense)	$-113.259	$-194.958	$-1,163.67	$-1,355.221
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$370.592	$-33,298.506	$-7,459.943	$-9,089.816
Income Tax Expense (Benefit)	$-64.194	$1,663.83	$-1,134.575	$-997.084

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Cash and Cash Equivalents, at Carrying Value	$2,539.312	$786.333	$7,966.797	$2,158.233
Accounts Receivable, after Allowance for Credit Loss, Current	$4,176.322	$4,231.575	$12,939.589	$17,759.11
Other Investments	—	—	$522.599	$0
Contract with Customer, Asset, after Allowance for Credit Loss, Current	$549.118	$474.28	$46,107.784	$17,878.271
Financing Receivable, after Allowance for Credit Loss, Current	$2,212.574	$1,287.397	$874.617	$779.497
Inventory, Net	$1,341.397	$1,302.568	$2,061.558	$1,617.269
Deferred Costs, Noncurrent	—	—	$2,168.725	$3,337.49
Other Receivables, Net, Current	$5,373.997	$1,725.351	$1,700.215	$3,745.223
Assets, Current	$19,921.585	$20,949.859	$75,349.113	$48,312.427
Property, Plant and Equipment, Net	$291.416	$200.889	$138.89	$114.349
Operating Lease, Right-of-Use Asset	$5,411.82	$3,178.978	$1,638.649	$11,504.826
Financing Receivable, after Allowance for Credit Loss, Noncurrent	$4,322.942	$3,076.186	$2,256.366	$1,769.537
Restricted Cash and Cash Equivalents, Noncurrent	$354.504	$276.744	$280.016	$280.998
Other Assets, Noncurrent	$880.621	$926.347	$909.209	$923.515
Assets	$48,655.201	$38,629.891	$91,287.054	$110,506.673
Operating Lease, Liability, Current	$1,497.555	$1,571.084	$1,712.329	$1,022.681
Unsecured Debt, Current	$2,000	$2,900	$0	$0
Secured Debt, Current	$11,358.658	$5,358.658	$5,500	$6,500
Convertible Notes Payable, Current	$8,680	$9,770	$14,650	$14,150
Other Accounts Payable and Accrued Liabilities	—	—	$14,282.578	$19,180.482
Liabilities, Current	$42,042.646	$34,740.022	$95,710.719	$49,505.997
Operating Lease, Liability, Noncurrent	$4,078.569	$1,712.33	$0	$10,629.549
Secured Long-term Debt, Noncurrent	—	$7,000	$5,000	$2,000
Convertible Notes Payable, Noncurrent	—	—	$339.882	$1,729.217
Deferred Tax Liabilities, Gross	$1,506.461	$3,836.138	$251.807	$202.543
Other Liabilities, Noncurrent	$2,793.388	$2,105.538	$2,194.744	$2,103.498
Liabilities	$64,543.029	$53,708.833	$103,497.152	$126,604.808
Accounts Payable, Current	$3,384.195	$2,665.721	$59,565.812	$8,652.834
Preferred Stock, Value, Issued	$0	$0	$0	$0
Common Stock, Value, Issued	$40.984	$46.532	$56.168	$4.847
Additional Paid in Capital	$55,786.634	$91,889.317	$101,042.566	$102,189.887
Treasury Stock, Value	—	—	$1,979.294	$1,979.294
Retained Earnings (Accumulated Deficit)	$-68,623.969	$-103,586.305	$-109,911.673	$-114,874.056
Accumulated Other Comprehensive Income (Loss), Net of Tax	$-1,282.588	$-1,449.192	$-1,417.865	$-1,439.519
Stockholders' Equity Attributable to Parent	$-15,887.828	$-15,078.942	$-12,210.098	$-16,098.135
Common Stock, Shares Authorized	297,225,000	297,225,000	297,225,000	24,768,750
Common Stock, Shares, Issued	40,983,881	46,532,355	56,168,067	4,847,292
Common Stock, Shares, Outstanding	39,735,536	45,270,860	54,906,572	4,742,167
Preferred Stock, Shares Authorized	15,000,000	15,000,000	15,000,000	15,000,000
Preferred Stock, Shares Issued	0	0	0	0
Treasury Stock, Common, Shares	1,248,345	1,261,495	1,261,495	105,125

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$434.786	$-34,962.336	$-6,325.368	$-6,325.368
Payments to Acquire Short-term Investments	—	$7,685.171	$0	$0
Proceeds from Sale of Property, Plant, and Equipment	$21.449	$20.972	$0	$0
Net Cash Provided by (Used in) Investing Activities	$-6.55	$-6,315.865	$5,838.748	$5,231.826
Stock Issued During Period, Shares, New Issues	—	—	0	0
Payments of Financing Costs	—	—	$0	$0
Repayments of Convertible Debt	$4,800	$5,545.007	$3,258.658	$4,108.658
Net Cash Provided by (Used in) Financing Activities	$-5,045.623	$13,309.335	$1,148.341	$-416.151
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$-37.862	$305.901	$-301.402	$-292.726
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$-1,275.135	$-1,830.739	$7,183.736	$245.025
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$2,893.816	$1,063.077	$8,246.813	$11,960.78
Income Taxes Paid, Net	$177.377	$158.795	$170.939	$220.214
Cash and Cash Equivalents, at Carrying Value	$2,539.312	$786.333	$7,966.797	$11,677.908
Restricted Cash, Noncurrent	$354.504	$276.744	$280.016	$282.872
Depreciation, Depletion and Amortization, Nonproduction	$180.67	$81.545	$61.929	$50.715
Amortization of Debt Issuance Costs and Discounts	$180.76	$198.418	$0	$0
Amortization of Debt Discount (Premium)	—	—	$102.844	$89.678
Operating Lease, Right-of-Use Asset, Amortization Expense	$1,432.343	$1,464.601	$1,540.329	$1,341.099
Accounts Receivable, Credit Loss Expense (Reversal)	$56.751	$164.198	$-47.763	$-85.501
Provision for Loan, Lease, and Other Losses	—	—	$659.276	$659.276
Product Warranty Expense	$639.279	$410.108	$551.873	$697.39
Deferred Income Tax Expense (Benefit)	$-84.194	$1,831.735	$-1,400.381	$-1,267.83
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	—	—	$-0.144	$-0.144
Share-based Payment Arrangement, Noncash Expense	—	$18,536.183	$520.721	$520.721
Goodwill, Impairment Loss	—	$7,461.888	$0	$0
Proceeds from Issuance of Private Placement	—	—	$4,752.535	$3,898.535
Proceeds from Issuance Initial Public Offering	—	$18,950.212	$0	$0
Interest Paid, Excluding Capitalized Interest, Operating Activities	$1,086.314	$1,355.835	$1,375.246	$1,278.558
Increase (Decrease) in Accounts Receivable	$1,536.755	$214.474	$8,695.297	$14,350.245
Increase (Decrease) in Inventories	$1,952.642	$7.101	$832.691	$100.976
Increase (Decrease) in Other Current Assets	$-1,404.001	$-1,133.595	$284.385	$2,160.252
Increase (Decrease) in Deposit Assets	—	—	$-17.138	$5.924
Increase (Decrease) in Accounts Payable	—	$-718.474	$56,900.091	$65,242.43
IncreaseDecreaseInOperatingLeaseLiability	$-1,372.274	$-1,447.263	$-1,571.085	$-1,287.045
Increase (Decrease) in Other Accounts Payable and Accrued Liabilities	$-2,940.629	$-3,716.3	$1,918.799	$5,703.875
Increase (Decrease) in Other Accrued Liabilities	—	—	$-476.86	$-263.721
Net Cash Provided by (Used in) Operating Activities	$3,814.9	$-9,130.11	$498.049	$-4,277.924

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Import this data to Google Sheets with:

=jivedata("SMXT","financials")

Full statements spill as a table. For one cell: =jivedata("SMXT","Revenue") or =jivedata("SMXT","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.