Orion Q3 FY23 revenue $20.3M, net loss $24.1M; reiterates FY24 30% growth outlook

ORION ENERGY SYSTEMS, INC.

2022-Q3 EPS reported -$0.93 revenue$55,754,000

Q3 revenue $20.3M vs $30.7M YoY; net loss $24.1M ($0.75/sh) vs net income $1.1M ($0.04/sh) YoY.
Net loss includes $17.8M non-cash tax valuation allowance and $1.5M Voltrek earnout accrual.
Adj. EBITDA -$1.6M vs +$2.1M YoY; expects Q4 strongest quarter, FY23 rev $77-80M.
Reiterates FY24 revenue growth of 30%+; Voltrek EV charging on track for $3-5M H2 rev.
Largest customer business decreased $50M YTD; liquidity $19.4M (cash $8.1M + $11.3M credit).

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ORION ENERGY SYSTEMS, INC. reported fiscal 2023 third quarter ended December 31, 2022 results: revenue $20.3, net income ($24.1), EPS ($0.75). Guidance reaffirmed.

Period: fiscal 2023 third quarter ended December 31, 2022
Revenue: $20.3
Net income: ($24.1)
EPS: ($0.75)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Orion Energy Systems Reports Q3 Revenue of $20.3M; Reiterates FY’24 Outlook for 30% Revenue Growth

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Source: SEC EDGAR

accession 0000950170-23-002249

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