Core Viewpoint - Orion Energy Systems, Inc. reported a decline in revenue for Q3'25 and updated its FY'25 revenue outlook to a range of $77 million to $83 million, reflecting project delays and market softness, but highlighted improvements in cost structure and gross margins [1][9][13]. Financial Performance - Q3'25 total revenue was $19.6 million, down 29% from $26.0 million in Q3'24, with LED lighting revenue at $13.2 million, EV charging revenue at $2.4 million, and maintenance revenue at $3.9 million [2][17]. - Gross profit for Q3'25 was $5.8 million, with a gross margin of 29.4%, an increase of 490 basis points from 24.5% in Q3'24 [2][17]. - Net loss for Q3'25 improved to $(1.5) million, or $(0.05) per share, compared to a net loss of $(2.3) million, or $(0.07) per share in Q3'24 [2][19]. Business Developments - The company added seven new customers/projects with an estimated revenue potential of $100 million to $200 million over the next five years, enhancing its project pipeline [5][6]. - Orion plans to reorganize its business into two Commercial Business Units (CBUs) to better align sales, marketing, and product development activities [11][12]. - The company expects to achieve double-digit revenue growth and positive Adjusted EBITDA performance in FY'26, supported by a strong project backlog and new maintenance service opportunities [16]. Cost Management - Orion has reduced its annual revenue breakeven point by 25% to a range of $78 million to $85 million, down from approximately $105 million to $115 million over the past two years [6][8]. - Operating expenses decreased by $1.4 million to $7.0 million in Q3'25, driven by fixed cost reductions and a decrease in Voltrek earnout expense accruals [18][19]. - The company achieved positive cash flow from operating activities of $3.8 million in Q3'25, with cash and liquidity position improving to $7.5 million [22][24]. Market Outlook - Orion's FY'25 revenue outlook reflects the impact of project timing changes, with expected Q4'25 revenue between $19 million and $25 million [13]. - The company anticipates a strong year-end close for its Voltrek EV charging segment, benefiting from delayed projects related to Eversource Energy's 'EV Make Ready' program [10][13]. - Recent contracts expected to contribute to future revenue include a multi-year LED lighting retrofit contract worth $12 million to $18 million and a contract extension valued at $23 million to $30 million [14][20].

Revenue Performance - Q3'25 revenue was $19.6M, a decrease of 29% from $26.0M in Q3'24, with year-to-date revenue at $58.9M compared to $64.2M in YTD'24[4]. - Orion has reduced its FY'25 revenue outlook to $77M - $83M, reflecting project delays and reduced activity in the distribution channel[12][7]. - The company expects Q4'25 revenue to be between $19M - $25M, which would be in line with or better than the first three quarters of FY'25[12]. - EV charging solutions revenue grew 48% year-to-date to approximately $11.0M compared to $7.4M in YTD'24[8][16]. - Maintenance services revenue was $3.9M in Q3'25, down from $4.6M in Q3'24, but improved sequentially from $3.8M in Q2'25[17]. Profitability and Loss - Net loss for Q3'25 was $1.5M, or $(0.05) per share, an improvement from a net loss of $2.3M, or $(0.07) per share in Q3'24[20]. - Net loss for the three months ended December 31, 2024, was $1.508M, an improvement from a net loss of $2.256M in Q3 2023[32]. - Net loss for the nine months ended December 31, 2024, was $8,890 thousand, an improvement from a loss of $13,281 thousand in the same period of 2023, representing a 33.3% reduction in losses[35]. Cash Flow and Liquidity - Adjusted EBITDA for Q3'25 was slightly positive, with cash position increasing to $7.5M from $5.4M in Q2'25[6][21]. - Orion's financial liquidity improved to $15.6M at December 31, 2024, compared to $13.1M at September 30, 2024, and $15.3M at March 31, 2024[23]. - Net cash provided by operating activities for the nine months ended December 31, 2024, was $1,298 thousand, compared to a cash outflow of $10,267 thousand in the prior year, indicating a significant turnaround[35]. - Cash and cash equivalents at the end of the period increased to $7,497 thousand from $4,967 thousand, reflecting a net increase of $2,342 thousand[35]. Operational Changes - Orion plans to reorganize its business into two Commercial Business Units to enhance focus and efficiency, with full implementation expected by April 1, 2025[10][11]. - Orion added seven new customers/projects with an estimated revenue potential of $100M to $200M over the next five years[5][10]. Balance Sheet and Assets - Total assets decreased to $52.713M at December 31, 2024, from $63.169M at March 31, 2024[34]. - Total liabilities decreased to $38.238M at December 31, 2024, from $40.627M at March 31, 2024[34]. - Orion's total shareholders' equity decreased to $14.475M at December 31, 2024, from $22.542M at March 31, 2024[34]. Credit and Financing - Orion extended its bank credit facility with Bank of America by 18 months to June 30, 2027, indicating confidence in its liquidity position[23]. - Proceeds from long-term debt amounted to $3,525 thousand, while payments of revolving credit facility were $2,500 thousand, indicating active financing management[35]. Inventory and Receivables - Accounts receivable increased by $1,723 thousand during the nine months ended December 31, 2024, compared to a decrease of $2,156 thousand in the same period of 2023[35]. - Inventories increased by $4,462 thousand for the nine months ended December 31, 2024, contrasting with a decrease of $2,963 thousand in the prior year[35]. Employee Compensation and Credit Quality - Stock-based compensation for the nine months ended December 31, 2024, was $822 thousand, up from $681 thousand in the same period of 2023, reflecting increased employee incentives[35]. - The company reported a provision for credit losses of $65 thousand for the nine months ended December 31, 2024, down from $170 thousand in the previous year, indicating improved credit quality[35].

Core Viewpoint - Orion Energy Systems, Inc. will host a conference call and webcast to discuss its fiscal 2025 third quarter results on February 11, 2025, prior to market opening [1]. Group 1: Conference Call and Webcast Details - The conference call is scheduled for February 11, 2025, at 10:00 a.m. ET [2]. - Participants must pre-register to receive dial-in information [2]. - A replay of the webcast will be available after the live event [2]. Group 2: Company Overview - Orion Energy Systems specializes in energy-efficient solutions, including LED lighting, EV charging stations, and maintenance services [3]. - The company focuses on turnkey solutions for large national customers and collaborates with ESCO and distribution partners [3]. - Orion is committed to helping customers achieve business and environmental goals while reducing carbon footprints [3].

Revenue Performance - Total revenue for the three months ended September 30, 2024, was $19.361 million, a decrease of 6.0% compared to $20.586 million for the same period in 2023[80]. - Product revenue decreased by 20.7% to $12.367 million, while service revenue increased by 39.9% to $6.994 million, indicating a shift in revenue composition[80]. - The lighting segment revenue decreased by 20.1% to $10.840 million, primarily due to timing variability in larger projects and the completion of a Department of Defense project[83]. - The maintenance segment revenue increased by 4.5% to $3.796 million, driven by increased work orders from a major customer[84]. - The electric vehicle (EV) segment revenue increased by 39.8% to $4.725 million, attributed to higher revenue volume from municipalities[85]. - Product revenue decreased by 14.1%, or $4.1 million, to $25.1 million for the first six months of fiscal 2025 compared to the same period in fiscal 2024[87]. - Service revenue increased by 58.1%, or $5.2 million, to $14.1 million for the first six months of fiscal 2025 compared to the same period in fiscal 2024[87]. - Total revenue increased by 2.8% to $39.3 million for the first six months of fiscal 2025 compared to $38.2 million in the same period of fiscal 2024[87]. - The Electric Vehicle Charging Division revenue increased by 85.3%, or $3.9 million, to $8.6 million for the first six months of fiscal 2025 compared to the same period in fiscal 2024[92]. Profitability and Expenses - Gross profit for the three months ended September 30, 2024, was $4.472 million, a slight decrease of 2.1% from $4.569 million in the prior year[80]. - Gross profit increased by 13.3% to $8.8 million, with gross margin improving from 20.3% to 22.3%[87]. - General and administrative expenses decreased by 9.4% to $4.568 million, primarily due to a reduction in earn-out expenses related to Voltrek[81]. - General and administrative expenses decreased by 15.6%, or $1.7 million, to $9.1 million for the first six months of fiscal 2025 compared to the same period in fiscal 2024[88]. - Research and development expenses decreased by 14.1% to $0.328 million, reflecting cost management efforts[81]. - Research and development expenses decreased by 31.3%, or $0.3 million, to $0.6 million for the first six months of fiscal 2025 compared to the same period in fiscal 2024[89]. Net Loss and Operating Performance - The company reported a net loss of $3.625 million for the three months ended September 30, 2024, an improvement of 17.4% compared to a net loss of $4.388 million in the same period last year[80]. - The operating loss in the lighting segment improved by 34.7% to $1.281 million, reflecting a higher percentage of product revenue with better gross margins[83]. Cash Flow and Working Capital - Cash used in operating activities was $2.5 million for the first six months of fiscal 2025, a significant improvement from $11.3 million in the same period of fiscal 2024[94]. - The company had approximately $5.4 million in cash and cash equivalents as of September 30, 2024, an increase from $5.2 million at March 31, 2024[93]. - The company’s net working capital decreased to $13.1 million as of September 30, 2024, from $16.7 million as of March 31, 2024[97]. Backlog and Market Conditions - Backlog as of September 30, 2024, totaled $11.1 million, down from $22.0 million as of March 31, 2024, indicating a decrease of 49.5%[103]. - The company expects its backlog to be recognized as revenue within one year, excluding contracted maintenance services[103]. - The company’s exposure to market risk has not materially changed since March 31, 2024[108]. Financing and Credit Arrangements - The company executed Amendment No. 2 to the credit agreement, adding a $3.525 million mortgage loan facility secured by its office headquarters property[101]. - The maturity date of the Credit Facility was extended from December 29, 2025, to June 30, 2027[101]. - Quarterly installments of $88,125 are due starting October 1, 2024, as part of the new mortgage loan facility[101]. - There were no off-balance sheet arrangements reported by the company[104]. - The company has not made any material changes to its critical accounting policies since the last reporting period[105].

Orion Energy Systems, Inc. (NASDAQ:OESX) Q2 2025 Earnings Conference Call November 6, 2024 10:00 AM ET Company Participants Bill Jones - IR Mike Jenkins - CEO & Director Per Brodin - CFO Conference Call Participants Eric Stein - Craig Hallum Amit Dayal - H.C. Wainwright Bill Dezellem - Tieton Capital Management Gowshihan Sriharan - Singular Research Operator Good morning, everyone, and welcome to Orion Energy Systems Fiscal 2025 Second Quarter Conference Call. At this time, all participants are in a listen- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Wisconsin 01-33887 39-1847269 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.) Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock, no par value OESX The Nasdaq Stock Market LLC FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 29, 2024 OR ...

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-33887 Orion Energy Systems, Inc. (Exact name of Registrant as specified in its charter) Wisconsin 39-1847269 (State or other jurisdiction of incorporation or organization) (I ...

Orion Energy Systems, Inc. (NASDAQ:OESX) Q1 2025 Earnings Conference Call August 7, 2024 10:00 AM ET Company Participants Bill Jones - Investor Relations Mike Jenkins - Chief Executive Officer & Director Per Brodin - Chief Financial Officer Conference Call Participants Sameer Joshi - H.C. Wainwright Luke Persons - Craig Hallum Chris Sakai - Singular Research Bill Dezellem - Tieton Capital Management Operator Good morning, everyone, and welcome to Orion Energy Systems Fiscal 2025 First Quarter Conference Cal ...

Orion Energy Systems, Inc. (OESX) came out with a quarterly loss of $0.11 per share versus the Zacks Consensus Estimate of a loss of $0.12. This compares to loss of $0.18 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 8.33%. A quarter ago, it was expected that this company would post a loss of $0.08 per share when it actually produced a loss of $0.01, delivering a surprise of 87.50%. Over the last four quarters, the company ...