NASDAQ · XMAX

XMax Inc.

Closing price · Nov 13, 2026 $5.90

Latest quarter · ended Sep 30, 2026

Sales slipped and cash got weaker

descriptionFiled Nov 13, 2026
Revenue growthShrinking
−34.2%
Quarter ended Dec 31, 2024: −11.8% sales vs. a year beforeQuarter ended Mar 31, 2025: +10.9% sales vs. a year beforeQuarter ended Jun 30, 2025: −4.9% sales vs. a year beforeQuarter ended Sep 30, 2025: +273.2% sales vs. a year beforeQuarter ended Dec 31, 2025: −11.8% sales vs. a year beforeQuarter ended Mar 31, 2026: −32.4% sales vs. a year beforeQuarter ended Jun 30, 2026: +7.1% sales vs. a year beforeQuarter ended Sep 30, 2026: −34.2% sales vs. a year before
Dec '24Sep '26
$6.42M vs. $9.76M a year ago
Gross marginBetter
13.9%
Quarter ended Dec 31, 2024: 42.8% gross marginQuarter ended Mar 31, 2025: 45.7% gross marginQuarter ended Jun 30, 2025: 50.2% gross marginQuarter ended Sep 30, 2025: 10.1% gross marginQuarter ended Dec 31, 2025: 40.3% gross marginQuarter ended Mar 31, 2026: 49.5% gross marginQuarter ended Jun 30, 2026: 39.8% gross marginQuarter ended Sep 30, 2026: 13.9% gross margin
Dec '24Sep '26
vs. 10.1% a year ago
Cash from operationsWorse
−$2.51M
Quarter ended Dec 31, 2024: −$263K cash from operationsQuarter ended Mar 31, 2025: −$323K cash from operationsQuarter ended Jun 30, 2025: $92.5K cash from operationsQuarter ended Sep 30, 2025: −$1.91M cash from operationsQuarter ended Dec 31, 2025: $1.69M cash from operationsQuarter ended Mar 31, 2026: −$642K cash from operationsQuarter ended Jun 30, 2026: −$3.65M cash from operationsQuarter ended Sep 30, 2026: −$2.51M cash from operations
Dec '24Sep '26
vs. −$1.91M a year ago
Share countDiluting
+54.9%
Quarter ended Dec 31, 2024: 13.21M sharesQuarter ended Mar 31, 2025: 13.71M sharesQuarter ended Jun 30, 2025: 13.77M sharesQuarter ended Sep 30, 2025: 41.87M sharesQuarter ended Dec 31, 2025: 47.21M sharesQuarter ended Mar 31, 2026: 47.21M sharesQuarter ended Jun 30, 2026: 64.52M sharesQuarter ended Sep 30, 2026: 64.88M shares
Dec '24Sep '26
64.88M shares vs. 41.87M a year ago

Numbers come from the company's own 10-Q and 10-K reports filed with the SEC. Each bar is one quarter, oldest on the left. The colored bar is the latest. Hover over or tap a bar to see its number.

Smart money pulse

What insiders and funds are doing

Mixed Insiders: as of Nov 13 Funds: as of Jun 30, 2026
−1000+100 0
  • info
    No real insider sales in 12 months. Planned 10b5-1 sales and tax withholding are left out.

−100 means everyone selling, +100 everyone buying. This is data, not advice.

How the Pulse works

Pulse runs from −100 (everyone selling) to +100 (everyone buying). Half comes from insiders: real buyers vs. real sellers in the last 90 days (Form 4). Half comes from funds: funds that bought vs. funds that sold last quarter (13F). 13F is a snapshot of long positions on the last day of the quarter, filed up to 45 days later. It does not show short positions or trades since then.

Who owns it

57 funds report owning XMAX, up from 31

Holdings as of Jun 30, 2026
New37
Added15
Held0
Trimmed5
Sold out11

Insider trades · last 12 months

Real buys and sales

No insider filings loaded for the last 12 months.

Top holders

Biggest funds in XMAX

As of Jun 30, 2026
FundOwnsValueChange
BlackRock, Inc.6.8%$40.2M+714%
Vanguard Capital Management LLC3.8%$22.6M+60%
Geode Capital Management, LLC2.3%$13.8M+209%
State Street Corp1.5%$8.67M+394%
Northern Trust Corp0.8%$4.49M+429%

"Owns" is shares reported divided by shares outstanding.

Where this data comes from. Insider trades, fund holdings, activist stakes and company results come from public SEC EDGAR filings (Forms 4, 13F, 13D/13G, 10-Q and 8-K). Congress trades come from the STOCK Act reports members file with the House Clerk and the Senate. Daily closing prices come from post-no-preference/stocks on DoltHub, a community-run database shared under CC BY-SA 4.0; the prices we show stay under that license. They are each day's close, not live or official exchange prices.

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