Orion Energy posts Q2 net loss of $2.3M on revenue of $17.6M, down 52% YoY

ORION ENERGY SYSTEMS, INC.

2022-Q2 EPS reported -$0.17 revenue$35,466,000

Net loss of $2.3M (EPS -$0.08) vs. net income of $3.7M ($0.12) in Q2'22, driven by customer project delays and cancellations.
Revenue fell to $17.6M from $36.5M; gross margin contracted 430 bps to 25.3% due to lower fixed cost absorption.
Adjusted EBITDA was -$1.5M, down from $4.0M in the prior-year quarter; cash & equivalents $12.5M.
FY2023 revenue guidance reaffirmed at $90M-$110M; CEO cites re-engaging customers for H2 projects.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ORION ENERGY SYSTEMS, INC. reported fiscal 2023 second quarter ended September 30, 2022 results: revenue $17.6M, net income ($2.3M), EPS ($0.08) per share. Guidance reaffirmed.

Period: fiscal 2023 second quarter ended September 30, 2022
Revenue: $17.6M
Net income: ($2.3M)
EPS: ($0.08) per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Orion Energy Systems Reports Q2 Revenue of $17.6M, Gross Profit Percentage of 25.3% and Reiterates FY’23 Revenue Outlook of $90M to $110M

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Source: SEC EDGAR

accession 0000950170-22-022911

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