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Side-by-side financial comparison of SolarMax Technology, Inc. (SMXT) and Velocity Financial, Inc. (VEL). Click either name above to swap in a different company.
Velocity Financial, Inc. is the larger business by last-quarter revenue ($51.6M vs $46.6M, roughly 1.1× SolarMax Technology, Inc.). Velocity Financial, Inc. runs the higher net margin — 67.3% vs -1.9%, a 69.2% gap on every dollar of revenue. On growth, SolarMax Technology, Inc. posted the faster year-over-year revenue change (623.5% vs 32.8%).
SolarMax Technology, Inc. develops, manufactures and sells high-efficiency solar PV modules and clean energy systems. It serves residential, commercial and industrial clients in North America and key Asia-Pacific markets, offering installation and after-sales support to boost low-carbon energy use.
Velocity Financial, Inc. is a U.S.-headquartered real estate finance company that offers specialized mortgage loan solutions primarily for residential investment properties. It partners with independent mortgage brokers nationwide, providing real estate investors with short-term bridge loans and long-term rental property financing options tailored to their operational needs.
SMXT vs VEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $46.6M | $51.6M |
| Net Profit | $-872.2K | $34.8M |
| Gross Margin | 2.7% | — |
| Operating Margin | -2.7% | 97.0% |
| Net Margin | -1.9% | 67.3% |
| Revenue YoY | 623.5% | 32.8% |
| Net Profit YoY | 77.7% | 67.0% |
| EPS (diluted) | $-0.02 | $0.90 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $46.6M | $51.6M | ||
| Q3 25 | $30.6M | $49.1M | ||
| Q2 25 | $6.9M | $47.6M | ||
| Q1 25 | $6.9M | $37.5M | ||
| Q4 24 | $6.4M | $38.9M | ||
| Q3 24 | $6.3M | $35.1M | ||
| Q2 24 | — | $32.4M | ||
| Q1 24 | — | $29.5M |
| Q4 25 | $-872.2K | $34.8M | ||
| Q3 25 | $-2.3M | $25.4M | ||
| Q2 25 | $-1.9M | $26.0M | ||
| Q1 25 | $-1.3M | $18.9M | ||
| Q4 24 | $-3.9M | $20.8M | ||
| Q3 24 | $-9.6M | $15.8M | ||
| Q2 24 | — | $14.8M | ||
| Q1 24 | — | $17.3M |
| Q4 25 | 2.7% | — | ||
| Q3 25 | 3.1% | — | ||
| Q2 25 | 8.8% | — | ||
| Q1 25 | 20.5% | — | ||
| Q4 24 | 14.5% | — | ||
| Q3 24 | 19.9% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -2.7% | 97.0% | ||
| Q3 25 | -6.9% | 72.1% | ||
| Q2 25 | -25.7% | 71.3% | ||
| Q1 25 | -16.7% | 71.7% | ||
| Q4 24 | -27.9% | 82.5% | ||
| Q3 24 | -158.4% | 60.6% | ||
| Q2 24 | — | 61.3% | ||
| Q1 24 | — | 78.8% |
| Q4 25 | -1.9% | 67.3% | ||
| Q3 25 | -7.4% | 51.7% | ||
| Q2 25 | -27.6% | 54.6% | ||
| Q1 25 | -18.7% | 50.4% | ||
| Q4 24 | -60.6% | 53.5% | ||
| Q3 24 | -152.0% | 45.1% | ||
| Q2 24 | — | 45.6% | ||
| Q1 24 | — | 58.5% |
| Q4 25 | $-0.02 | $0.90 | ||
| Q3 25 | $-0.04 | $0.65 | ||
| Q2 25 | $-0.04 | $0.69 | ||
| Q1 25 | $-0.03 | $0.51 | ||
| Q4 24 | $-0.07 | $0.56 | ||
| Q3 24 | $-0.21 | $0.44 | ||
| Q2 24 | — | $0.42 | ||
| Q1 24 | — | $0.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $8.0M | $92.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-12.2M | $672.5M |
| Total Assets | $91.3M | $7.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.0M | $92.1M | ||
| Q3 25 | $5.7M | $99.0M | ||
| Q2 25 | $1.9M | $79.6M | ||
| Q1 25 | $6.8M | $51.7M | ||
| Q4 24 | $7.1M | $49.9M | ||
| Q3 24 | $8.6M | $44.1M | ||
| Q2 24 | — | $47.4M | ||
| Q1 24 | — | $34.8M |
| Q4 25 | $-12.2M | $672.5M | ||
| Q3 25 | $-11.8M | $634.3M | ||
| Q2 25 | $-15.1M | $597.9M | ||
| Q1 25 | $-15.9M | $563.2M | ||
| Q4 24 | $-15.1M | $516.9M | ||
| Q3 24 | $-10.9M | $484.6M | ||
| Q2 24 | — | $471.3M | ||
| Q1 24 | — | $452.9M |
| Q4 25 | $91.3M | $7.4B | ||
| Q3 25 | $58.7M | $7.0B | ||
| Q2 25 | $38.2M | $6.5B | ||
| Q1 25 | $38.6M | $6.0B | ||
| Q4 24 | $38.6M | $5.5B | ||
| Q3 24 | $43.0M | $5.2B | ||
| Q2 24 | — | $4.9B | ||
| Q1 24 | — | $4.6B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-2.5M | $18.2M |
| Free Cash FlowOCF − Capex | — | $17.9M |
| FCF MarginFCF / Revenue | — | 34.6% |
| Capex IntensityCapex / Revenue | — | 0.5% |
| Cash ConversionOCF / Net Profit | — | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | — | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.5M | $18.2M | ||
| Q3 25 | $3.4M | $11.5M | ||
| Q2 25 | $220.7K | $7.7M | ||
| Q1 25 | $-601.1K | $3.5M | ||
| Q4 24 | $-1.3M | $37.8M | ||
| Q3 24 | $203.6K | $-17.6M | ||
| Q2 24 | — | $11.5M | ||
| Q1 24 | — | $10.6M |
| Q4 25 | — | $17.9M | ||
| Q3 25 | — | $11.4M | ||
| Q2 25 | — | $7.6M | ||
| Q1 25 | — | $3.5M | ||
| Q4 24 | — | $37.5M | ||
| Q3 24 | — | $-17.6M | ||
| Q2 24 | — | $11.4M | ||
| Q1 24 | — | $10.5M |
| Q4 25 | — | 34.6% | ||
| Q3 25 | — | 23.2% | ||
| Q2 25 | — | 15.9% | ||
| Q1 25 | — | 9.2% | ||
| Q4 24 | — | 96.4% | ||
| Q3 24 | — | -50.3% | ||
| Q2 24 | — | 35.1% | ||
| Q1 24 | — | 35.8% |
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | 0.0% | 0.2% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | — | 0.52× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | — | -1.11× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SMXT
| Yabucoa | $35.9M | 77% |
| Other | $10.7M | 23% |
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
