ORION ENERGY SYSTEMS, INC. OESX
We provide state-of-the-art light emitting diode ("LED") lighting systems, wireless Internet of Things ("IoT") enabled control solutions, commercial and industrial electric vehicle charging infrastructure solutions and lighting and electrical maintenance services. We help our customers achieve their sustainability, energy savings and carbon footprint reduction goals through innovative technology and exceptional service. We sell our products and services into many vertical markets within the broader commercial and industrial market segment. Primary verticals include: big box retail, manufacturing, warehousing/logistics, commercial office, federal and municipal government, healthcare and schools. Our services consist of turnkey installation (lighting and EV) and system maintenance. Virtually all of our sales occur within North America.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $85.5M | $78.9M | $90.5M | $74.4M | $122.9M | $113.9M | $149.2M | $62.1M | $60.3M | $70.2M |
| Cost of revenue | $58.2M | $59.5M | $69.7M | $59.9M | $90.5M | $86.7M | $113.7M | $51.2M | $45.6M | $52.9M |
| Gross profit | $28.1M | $20.2M | $20.9M | $17.5M | $33.9M | $30.1M | $37.1M | $14.6M | $14.7M | $17.3M |
| R&D | $945.0K | $1.2M | $1.5M | $1.9M | $1.7M | $1.7M | $1.7M | $1.4M | $1.9M | $2.0M |
| SG&A | $18.7M | $18.0M | $16.7M | $19.5M | $11.7M | $11.3M | $11.2M | $10.2M | $13.2M | $14.8M |
| Total operating expenses | $29.7M | $30.8M | $31.7M | $33.5M | $25.5M | $23.3M | $24.0M | $20.7M | $27.7M | $29.9M |
| Operating income | -$1.6M | -$10.6M | -$10.8M | -$16.0M | $8.4M | $6.8M | $13.1M | -$6.2M | -$13.0M | -$12.5M |
| Interest expense | — | — | — | — | — | — | — | $493.0K | $333.0K | $163.0K |
| Pre-tax income | -$3.1M | -$11.8M | -$11.6M | -$16.4M | $8.2M | $6.5M | $12.6M | -$6.7M | -$13.1M | -$12.5M |
| Income tax | $60.0K | $42.0K | $41.0K | $18.0M | $2.2M | $19.6M | $159.0K | $14.0K | $15.0K | $261.0K |
| Net income | -$3.2M | -$13.6M | -$15.7M | -$34.3M | $6.1M | $26.1M | $12.5M | -$6.7M | -$13.1M | -$12.3M |
| EPS, basic | -0.89 | -3.59 | -3.59 | -1.08 | 0.20 | 0.85 | 0.41 | -0.23 | -0.46 | -0.44 |
| EPS, diluted | -0.89 | -3.59 | -3.59 | -1.08 | 0.19 | 0.83 | 0.40 | -0.23 | -0.46 | -0.44 |
| Shares, diluted (wtd. avg.) | $3.6M | $3.3M | $3.2M | $31.7M | $31.3M | $31.3M | $31.0M | $29.4M | $28.8M | $28.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $3.3M | $6.0M | $5.2M | $16.0M | $14.5M | $19.4M | $28.8M | $8.7M | $9.4M | $17.3M |
| Receivables | $16.3M | $12.8M | $14.0M | $13.7M | $11.9M | $13.6M | $10.4M | $14.8M | $8.7M | $9.2M |
| Inventory | $10.3M | $11.4M | $18.2M | $18.2M | $19.8M | $19.6M | $14.5M | $13.4M | $7.8M | $13.6M |
| Total current assets | $37.7M | $35.5M | $44.8M | $50.4M | $51.2M | $56.5M | $55.0M | $41.4M | $29.5M | $43.9M |
| Property, plant and equipment | $6.1M | $8.0M | $9.6M | $10.5M | $11.5M | $11.4M | $11.8M | $12.0M | $12.9M | $13.8M |
| Goodwill | $1.5M | $1.5M | $1.5M | $1.5M | $350.0K | — | — | — | $0 | $0 |
| Other intangibles | $2.6M | $3.4M | $4.5M | $6.0M | $2.4M | $2.0M | $2.2M | $2.5M | $2.9M | $4.2M |
| Total assets | $51.6M | $52.5M | $63.2M | $71.6M | $86.8M | $92.8M | $72.6M | $56.0M | $45.3M | $62.1M |
| Accounts payable | $15.5M | $13.3M | $18.4M | $13.4M | $9.9M | $17.0M | $19.8M | $19.7M | $11.7M | $11.6M |
| Short-term debt | $353.0K | $353.0K | $3.0K | $17.0K | $16.0K | $14.0K | $35.0K | $96.0K | $79.0K | $152.0K |
| Total current liabilities | $26.7M | $26.8M | $28.1M | $24.5M | $18.4M | $30.4M | $27.2M | $27.3M | $16.4M | $18.4M |
| Long-term debt | $5.6M | $10.0M | $10.0M | $10.0M | $19.0K | $35.0K | $10.1M | $9.3M | $4.0M | $6.8M |
| Total liabilities | $35.0M | $40.6M | $40.6M | $38.3M | $21.7M | $34.7M | $41.5M | $38.1M | $21.9M | $26.6M |
| Retained earnings | -$118.1M | -$114.9M | -$103.1M | -$91.4M | -$57.1M | -$63.2M | -$89.3M | -$101.8M | -$95.5M | -$82.4M |
| Total equity | $16.6M | $11.9M | $22.5M | $33.2M | $65.1M | $58.1M | $31.0M | $18.0M | $23.4M | $35.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$1.1M | $599.0K | -$10.1M | -$2.3M | -$113.0K | $1.7M | $20.3M | -$5.1M | -$4.4M | -$1.9M |
| Depreciation and amortisation | $1.8M | $2.6M | $2.6M | $1.4M | $1.3M | $1.5M | $1.6M | $1.8M | $2.0M | $2.3M |
| Stock-based compensation | $483.0K | $1.2M | $950.0K | $1.6M | $813.0K | $753.0K | $618.0K | $825.0K | $1.1M | $1.6M |
| Capital expenditure | $83.0K | $99.0K | $837.0K | $586.0K | $518.0K | $902.0K | $814.0K | $381.0K | $512.0K | $660.0K |
| Investing cash flow | -$86.0K | $128.0K | -$731.0K | -$6.2M | -$4.9M | -$946.0K | -$936.0K | -$449.0K | -$585.0K | $1.6M |
| Financing cash flow | -$1.5M | $90.0K | -$14.0K | $10.0M | $104.0K | -$10.1M | $615.0K | $4.8M | -$2.9M | $2.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-279460.
Others in SIC 3640
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|---|---|---|---|---|
| AYI | ACUITY INC. (DE) | $10.00B | 26.7x | 13.1% |
| LYTS | LSI INDUSTRIES INC | $753.8M | 30.2x | 20.2% |
| SKYX | SKYX Platforms Corp. | $185.5M | — | 6.6% |
| EFOI | ENERGY FOCUS, INC/DE | $18.1M | — | -26.7% |
| CCTG | CCSC Technology International Holdings Ltd | — | — | -1.9% |
| PCLA | PicoCELA Inc. | — | — | — |