Is SolarMax Technology going out of business?

SolarMax Technology, Inc. (SMXT) Fundamentals

A quick summary of the latest filed figures while the full analysis loads.

SolarMax Technology, Inc. (SMXT) scores 26 out of 100 on fundamentals, Distressed / Caution, based on SEC filing data.

Leading signal: Debt / Equity: Negative equity (balance sheet deficit; monitor solvency)

Five questions, kept separate

Survival - Fragile

10-15 mo of estimated runway from 2026-03-31, based on $4.3M of cash and short-term investments against $4.1M of annual burn. A disclosed filing event caps this reading; Event Risk carries the detail.

Business quality - Poor

-5.1% operating margin and -4.1% FCF margin produce a poor Business Quality assessment.

Trajectory - Accelerating

Revenue, operating margin and cash margin improved together. Revenue improved 309.5%; operating margin improved 58.6pp; FCF margin improved 69.4pp. The TTM window includes a mixed-basis Q4 estimate.

Valuation - Extreme expectations

-18.6% normalized FCF yield supports an extreme expectations Valuation assessment on the ttm basis.

Event risk - Critical event risk

Going-Concern Warning is the decisive filing event; one adverse event family is active. It appears across 2 scanned filings. Favorable events are shown separately and do not offset adverse risk.

What the rules read

• Debt / Equity: Negative equity (balance sheet deficit; monitor solvency)
• Interest coverage: -3.9x
• Filing event risk: Going-Concern Warning (-8 pts)
• FCF margin: -4.12%
• Shares dilution YoY: 26.49% (YoY)
• ROE quality: 46.77%
• Asset Efficiency: 0.93x
• Net income trend: 76.34% (Loss narrowing)
• Revenue CAGR (3Y): 26.71%
• Revenue growth YoY: 114.08% (Industrial YoY) - Growth from a low base; sustainability uncertain.
• Return on Assets: -5.02%
• Asset Growth Velocity: 175.17% YoY (Aggressive buildout)

Read from filings through 2026-08-21.

Price as of 2026-09-11.