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.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $70.2M | $60.3M | $62.1M | $149.2M | $113.9M | $122.9M | $74.4M | $90.5M | $78.9M | $85.5M |
| Gross profit | $17.3M | $14.7M | $14.6M | $37.1M | $30.1M | $33.9M | $17.5M | $20.9M | $20.2M | $28.1M |
| Net income | -$12.3M | -$13.1M | -$6.7M | $12.5M | $26.1M | $6.1M | -$34.3M | -$15.7M | -$13.6M | -$3.2M |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Results announced Item 2.02
- Results announced Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced Item 2.02
- Material agreement signed Item 1.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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