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Income Statement (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Revenue | 6.3M | 42.1% |
| Gross Profit | 1.3M | 113.8% |
| Cost of Revenue | 5.1M | 31.2% |
| Operating expense | 11M | 277.7% |
| Net Income | -9.6M | 344.6% |
| EBITDA | -10M | 321% |
Balance Sheet (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Total Assets | 43M | 15.7% |
| Total Liabilities | 54M | 0.1% |
| Shares Outstanding | 45M | 0.6% |
Cash Flow (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Cash from operations | 200,000 | 112.6% |
| Cash from investing | -18,000 | 97.4% |
| Cash from financing | -360,000 | 73.4% |
EPS
Financial Highlights for SolarMax Technology in Q3 '24
SolarMax Technology reported a revenue of 6.3M, which is a 42.1% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 1.3M, marking a 113.8% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 5.1M, a 31.2% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 11M, showing a 277.7% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was -9.6M, showing a -344.6% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was -10M, showing a -321% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
SolarMax Technology faced some challenges this quarter with a decline in one or more of the key metrics: revenue, gross profit, or net income. Higher operating expenses might indicate increased investments or potential inefficiencies. A decline in EBITDA signals potential operational challenges or increased costs.
