XMAX Inc. reported preliminary third quarter 2026 net sales of approximately $6.42 million, a decrease from $9.76 million in the same period last year. The company is navigating a strategic transition from its legacy furniture distribution business toward artificial intelligence infrastructure and software services. Despite lower top-line results, the company saw an expansion in gross margin and announced a significant new share repurchase program.
Key Highlights
- Preliminary third quarter net sales of $6.42 million represent a 34% decline year-over-year as the company scales its AI business.
- Gross margin improved to 13.9% in the third quarter compared to 10.1% in the prior-year period.
- Expected third quarter net loss between $12.10 million and $13.10 million, primarily driven by non-cash unrealized losses.
- Board of Directors authorized a share repurchase program of up to $30 million, signaling confidence in the long-term AI-driven strategy.
- Announced a new AI infrastructure services agreement projected to generate over $100 million in revenue over the next five years.