Q1 Earnings: SolarMax Technology Reports $1.3 Million Loss, $6.9 Million Revenue

SolarMax Technology reported a Q1 loss of $1.3 million, or 3 cents per share, with revenue of $6.9 million. The company is a solar and renewable energy firm based in Riverside, California.

Riverside, California-based SolarMax Technology, Inc. (SMXT) reported a first-quarter loss of $1.3 million, or 3 cents per share, according to earnings released on May 17, 2025. The solar and renewable energy company generated revenue of $6.9 million during the period [1].

Despite the loss, the company's revenue grew by 10% compared to the same quarter last year. SolarMax's loss was primarily driven by higher research and development expenses, which increased by 20% year-over-year. The company attributed the quarter's results to the ongoing investment in new technologies and projects aimed at expanding its market presence [1].

In contrast, Mastech Digital (MHH), a technology services provider, reported a 3% increase in Q1 2025 revenue, totaling $48.3 million. While Mastech Digital's consolidated gross margins improved by 80 basis points, reaching 26.7%, the company reported a GAAP net loss of $1.4 million due to severance costs [2].

Both companies face challenges in navigating the current economic climate. SolarMax Technology is focused on enhancing its renewable energy solutions to meet growing demand, while Mastech Digital is prioritizing operational efficiency and client relationships to maintain its robust financial position [1][2].

References:
[1] https://www.marketscreener.com/quote/stock/SOLARMAX-TECHNOLOGY-INC-166374302/news/SolarMax-Technology-Q1-Earnings-Snapshot-49985095/
[2] https://www.gurufocus.com/news/2869726/mastech-digital-reports-first-quarter-2025-revenue-growth-of-3-mhh-stock-news