Orion Energy Systems Reports Q1'26 Financial Results

Orion Energy Systems, Inc., a provider of energy-efficient LED lighting, electric vehicle (EV) charging stations, and maintenance services solutions, has released its financial results for the fiscal 2026 first quarter (Q1'26) ended June 30, 2025. The company reported a positive adjusted EBITDA on revenue of $19.6 million and reiterated its fiscal year 2026 outlook.

Financial Highlights

For Q1'26, Orion reported:

• Total revenue of $19.6 million, a slight decrease from $19.9 million in Q1'25.
• Gross profit of $5.9 million, up 37% from $4.3 million in Q1'25.
• Gross profit margin increased to 30.1% from 21.6% in Q1'25.
• Net loss improved to ($1.2) million, or ($0.04) per share, compared to a net loss of ($3.8) million, or ($0.12) per share, in Q1'25.
• Adjusted EBITDA of $0.2 million, compared to an adjusted EBITDA loss of ($1.8) million in Q1'25.

Business and Operational Highlights

Orion's performance in Q1'26 was driven by:

• LED lighting revenue increased by 1% to $12.9 million.
• Maintenance services revenue grew by 21% to $4.0 million.
• EV charging solutions revenue decreased by 30% to $2.7 million, reflecting the variability in timing of larger projects.

Strategic Initiatives and Corporate Developments

Key strategic initiatives and corporate developments include:

• Reduction of $1.75 million in revolving credit facility debt.
• Introduction of new value-based products in the LED lighting distribution business, such as the TritonPro™ line of fixtures.
• Award of up to $7.0 million in electrical infrastructure and LED lighting projects by three automotive customers.

Management's Perspective

Orion CEO Sally Washlow commented on the results, highlighting the benefits of pricing and cost measures implemented in FY 2025. She noted that the Q1'26 gross profit percentage of 30.1% was the highest quarterly margin in six years. Washlow expressed confidence in achieving the FY 2026 revenue and adjusted EBITDA outlook, emphasizing the company's progress in returning to profitability.

Future Outlook

Orion reiterated its FY 2026 outlook for revenue growth of approximately 5% to $84 million. The company expects to approach or achieve positive adjusted EBITDA for the full fiscal year, with potential upside if business, economic, global trade, and government policy uncertainties stabilize.

SEC Filing: ORION ENERGY SYSTEMS, INC. [ OESX ] - 8-K - Aug. 06, 2025