NASDAQ: OESX
ORION ENERGY SYSTEMS, INC.CIK 0001409375 · SIC 3640 · Lighting Equipment
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revenue $86.3M, net income -$3.2M. Orion Energy narrows loss 73% on revenue growth, settles Voltrek dispute
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Orion Energy Systems announces Q4 fiscal 2026 earnings results
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Orion Energy Systems announces fiscal 2026 year-end revenue results
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Orion Energy reaffirms growth and profitability outlook for fiscal 2026-2027
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Orion Energy settles $10M earn-out dispute for $3M, releases asset liens
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Latest financial statements
From 10-Q filed Aug 5, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(in thousands, except share and per share amounts)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 |
|---|---|---|
| Product revenue | 14,219 | 13,512 |
| Service revenue | 11,524 | 6,063 |
| Total revenue | 25,743 | 19,575 |
| Cost of product revenue | 8,668 | 8,822 |
| Cost of service revenue | 8,164 | 4,852 |
| Total cost of revenue | 16,832 | 13,674 |
| Gross profit | 8,911 | 5,901 |
| Operating expenses: | ||
| General and administrative | 3,694 | 4,290 |
| Sales and marketing | 2,838 | 2,416 |
| Research and development | 268 | 208 |
| Total operating expenses | 6,800 | 6,914 |
| Income (loss) from operations | 2,111 | (1,013) |
| Other income (expense): | ||
| Interest expense | (98) | (169) |
| Amortization of debt issue costs | (18) | (51) |
| Royalty income | 1 | 2 |
| Other | (42) | — |
| Total other expense | (157) | (218) |
| Income (loss) before income tax | 1,954 | (1,231) |
| Income tax (benefit) expense | (5) | 13 |
| Net income (loss) | 1,959 | (1,244) |
| Basic net income (loss) per share | 0.48 | (0.37) |
| Weighted-average common shares outstanding | 4,059,842 | 3,331,524 |
| Diluted net income (loss) per share | 0.47 | (0.37) |
| Weighted-average common shares and share equivalents outstanding | 4,162,795 | 3,331,524 |
Condensed Consolidated Balance Sheets (Unaudited)
(in thousands, except share amounts)
| Description | June 30, 2026 | March 31, 2026 |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | 5,165 | 3,265 |
| Accounts receivable, net | 14,386 | 16,340 |
| Revenue earned but not billed | 7,411 | 6,409 |
| Inventories, net | 10,368 | 10,304 |
| Prepaid expenses and other current assets | 1,909 | 1,364 |
| Total current assets | 39,239 | 37,682 |
| Property and equipment, net | 6,010 | 6,114 |
| Goodwill | 1,484 | 1,484 |
| Other intangible assets, net | 2,526 | 2,646 |
| Other long-term assets | 4,044 | 3,679 |
| Total assets | 53,303 | 51,605 |
| Liabilities and Shareholders’ Equity | ||
| Accounts payable | 15,508 | 15,451 |
| Accrued expenses and other | 9,692 | 10,728 |
| Deferred revenue, current | 96 | 155 |
| Current maturities of long-term debt | 264 | 353 |
| Total current liabilities | 25,560 | 26,687 |
| Revolving credit facility | 3,000 | 3,000 |
| Long-term debt, less current maturities | 3,261 | 2,619 |
| Other long-term liabilities | 2,736 | 2,671 |
| Total liabilities | 34,557 | 34,977 |
| Commitments and contingencies | ||
| Shareholders’ equity: | ||
| Preferred stock, $0.01 par value: Shares authorized: 30,000,000 at June 30, 2026 and March 31, 2026; no shares issued and outstanding at June 30, 2026 and March 31, 2026 | — | — |
| Common stock, no par value: Shares authorized: 20,000,000 at June 30, 2026 and March 31, 2026; shares issued: 4,834,096 at June 30, 2026 and 4,819,013 at March 31, 2026; shares outstanding: 4,071,624 at June 30, 2026 and 4,056,528 at March 31, 2026 | — | — |
| Additional paid-in capital | 169,805 | 169,646 |
| Treasury stock, common shares: 762,472 at June 30, 2026 and 762,485 at March 31, 2026 | (34,962) | (34,962) |
| Accumulated deficit | (116,097) | (118,056) |
| Total shareholders’ equity | 18,746 | 16,628 |
| Total liabilities and shareholders’ equity | 53,303 | 51,605 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 |
|---|---|---|
| Operating activities | ||
| Net income (loss) | 1,959 | (1,244) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation | 115 | 244 |
| Amortization of intangible assets | 118 | 240 |
| Stock-based compensation | 159 | 166 |
| Amortization of debt issue costs | 18 | 51 |
| Deferred income tax | (56) | — |
| Provision for inventory reserves | 12 | 26 |
| Provision for credit losses | 15 | 10 |
| Other | 43 | (1) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 1,939 | (692) |
| Revenue earned but not billed | (1,002) | (127) |
| Inventories | (76) | 1,065 |
| Prepaid expenses and other assets | (508) | 271 |
| Accounts payable | 53 | (682) |
| Accrued expenses and other | (1,378) | 227 |
| Deferred revenue, current and long-term | (59) | (69) |
| Net cash provided by (used in) operating activities | 1,352 | (515) |
| Investing activities | ||
| Purchases of property and equipment | (6) | (55) |
| Net cash provided by (used in) investing activities | (6) | (55) |
| Financing activities | ||
| Payment of debt | (88) | (88) |
| Proceeds from debt | 642 | — |
| Proceeds from revolving credit facility | 600 | — |
| Payments of revolving credit facility | (600) | (1,750) |
| Net cash provided by (used in) financing activities | 554 | (1,838) |
| Net increase (decrease) in cash and cash equivalents | 1,900 | (2,408) |
| Cash and cash equivalents at beginning of period | 3,265 | 5,972 |
| Cash and cash equivalents at end of period | 5,165 | 3,564 |
| Supplemental cash flow information: | ||
| Cash paid for interest | 106 | 226 |
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Operating lease assets obtained in exchange for new operating lease liabilities | 420 | — |
Amounts as printed on the EDGAR/iXBRL face — (in thousands, except share and per share amounts); (in thousands, except share amounts); (in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗