Press Release: SolarMax Technologies : SolarMax Technology, Inc. Reports First Quarter 2024 Financial Results ...

(PR-inside.com) RIVERSIDE, CA / ACCESSWIRE / May 16, 2024 / SolarMax Technology, Inc. (Nasdaq:SMXT) ("SolarMax" or the "Company"), an integrated solar energy company, today reported financial results for the quarter ended March 31, 2024. First Quarter Highlights Revenues were $5.8 million, compared to $12.9 million in the first quarter of 2023. Cost of revenues included a one-time stock-based compensation expense of $1.3 million, resulted in gross profit of ($0.5) million, compared to $2.1 million in the first quarter of 2023. Total operating expense, which included a one-time stock-based compensation expense of $15.9 million, was $18.4 million, compared to $1.5 million in the first ..