Solarmax technology, inc. reports fiscal year 2023 financial results

Riverside, ca / accesswire / april 16, 2024 / solarmax technology, inc. (nasdaq:smxt) ("solarmax" or the "company"), an integrated solar energy company, today reported financial results for its fiscal year ended december 31, 2023. fiscal year 2023 financial highlights revenue increased to $54.1 million, up 21% from 2022 gross profit increased to $11.1 million, up 49% from 2022 gross margin improved to 21%, up from 17% in 2022 total operating expense decreased to $10.7 million, down 31% from 2022 net income improved to $0.4 million, from a net loss of $6.9 million in 2022 "we are proud to report a year of growth and operational progress for solarmax," stated david hsu, ceo of solarmax.
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