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OESX

Orion Energy Systems, Inc.

OESX

Orion Energy Systems, Inc. • NASDAQ
$15.87 ▲ 2.32% (+0.36)
Market Cap $56.03 M
52w High $16.09
52w Low $5.50
Dividend Yield 0%
P/E -8.49
Volume 24.01K
Outstanding Shares 3.53M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $19.919M ▲ $6.419M ▼ $-581K ▲ -2.917% ▲ $-0.16 ▲ $269K ▲
Q1-2025 $19.575M ▼ $6.914M ▼ $-1.244M ▲ -6.355% ▲ $-0.37 ▲ $-578K ▲
Q4-2024 $20.869M ▲ $8.378M ▲ $-2.911M ▼ -13.949% ▼ $-0.9 ▼ $-1.987M ▼
Q3-2024 $19.584M ▲ $7.003M ▼ $-1.508M ▲ -7.7% ▲ $-0.458 ▲ $-715K ▲
Q2-2024 $19.361M $7.744M $-3.625M -18.723% $-1.1 $-2.739M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $5.155B ▲ $47.902B ▲ $36.52B ▲ $11.382B ▲
Q1-2025 $3.564M ▼ $49.017M ▼ $38.211M ▼ $10.806M ▼
Q4-2024 $5.972M ▼ $52.463M ▼ $40.579M ▲ $11.884M ▼
Q3-2024 $7.497M ▲ $52.713M ▼ $38.238M ▼ $14.475M ▼
Q2-2024 $5.369M $56.272M $40.469M $15.803M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-581K ▲ $1.819M ▲ $-257K ▼ $29K ▲ $1.591M ▲ $1.562M ▲
Q1-2025 $-1.244M ▲ $-515K ▲ $-55K ▼ $-1.838M ▼ $-2.408M ▼ $-570K ▲
Q4-2024 $-2.912M ▼ $-699K ▼ $-6K ▲ $-820K ▲ $-1.525M ▼ $-750K ▼
Q3-2024 $-1.507M ▲ $3.762M ▲ $-21K ▼ $-1.613M ▼ $2.128M ▲ $3.741M ▲
Q2-2024 $-3.625M $498K $179K $-1M $-323K $488K

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Product
Product
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲
Service
Service
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Orion’s sales have been fairly flat in recent years, while costs have crept up enough to turn what used to be modest profits into consistent operating losses. Gross profitability on each dollar of revenue looks reasonable, but the company is not generating enough volume to cover overhead and support functions. Net results have swung from profit to loss, and recent years show a clear tilt toward red ink, signaling a business still struggling to reach stable, scalable profitability.

Balance Sheet

Balance Sheet The balance sheet is lean and has been shrinking, with both total assets and shareholders’ equity trending down. Debt exists but is not overwhelming; however, the combination of a small equity base, ongoing losses, and limited cash means the financial cushion is thin. There is not much room for prolonged weakness or major investment without additional capital or a clear turnaround in earnings.

Cash Flow

Cash Flow Cash generation from day‑to‑day operations has hovered around break‑even, occasionally slipping negative. Investment spending has been very light, so free cash flow is mostly a reflection of operating performance rather than heavy build‑out. This suggests a business that can just about fund itself in steady times but has limited internal resources to finance growth initiatives or absorb unexpected shocks without careful working capital management.

Competitive Edge

Competitive Edge Orion occupies a specialized niche in energy‑efficient lighting and facility retrofits, competing in a crowded market with much larger players. Its advantages include U.S. manufacturing that supports “Buy American” projects, a full turnkey model from design through maintenance, and long‑standing relationships with large corporate and government customers. At the same time, reliance on project‑based work and big accounts can make results lumpy, and the company must continuously differentiate on service, speed, and compliance to avoid being squeezed on price or displaced by bigger brands.

Innovation and R&D

Innovation and R&D The company has built a base of patents and know‑how around fast, low‑disruption lighting retrofits, modular fixtures, and smart controls, which support its value proposition of quick installation and ongoing energy savings. It is also pushing into higher‑growth areas like EV charging infrastructure and more advanced IoT‑enabled building solutions, often bundled into its turnkey offerings. The key question is execution: turning technical strengths, new services, and acquisitions like Voltrek into steady, profitable growth in markets where technology moves quickly and competition is intense.

Summary

Orion is a small, innovation‑driven energy solutions provider with a credible niche in lighting retrofits and a growing presence in EV charging and smart building services. Strategically, the company is positioned on the right side of long‑term trends—energy efficiency, electrification, and domestic sourcing—but its financial profile is fragile: flat revenue, recurring losses, a shrinking equity base, and thin cash reserves. The story hinges on whether management can translate its patents, turnkey model, and customer relationships into a sustained return to growth and profitability without overextending its limited financial resources. This analysis highlights the balance of opportunity and execution risk, rather than suggesting any particular course of action.

NEWS

November 6, 2025 · 8:28 AM UTC

Orion to Participate in Craig-Hallum Alpha Select Conference on November 18, 2025

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October 28, 2025 · 8:28 AM UTC

Orion Announces $4.7M in LED Lighting Engagements for Two Major Enterprise Customers; One Scope of Work Marks the Start of a Multi-Year Initiative

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October 14, 2025 · 8:28 AM UTC

LED Lighting, EV Charging Station, and Maintenance Solutions Provider Orion Hosts Q2 Investor Call Wed., Nov. 5th at 10am ET

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October 7, 2025 · 8:29 AM UTC

LED Lighting and EV Charging Station Provider Orion to Present at the LD Micro Main Event Investor Conference, Oct. 21st at 9:30am PT

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September 23, 2025 · 8:29 AM UTC

Orion to Participate in the Lytham Partners Fall 2025 Investor Conference and Webcast its Presentation on September 30, 2025 at 3:30pm ET

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