Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
ORION ENERGY SYSTEMS, INC. reported fiscal 2023 fourth quarter ended March 31, 2023 results: revenue $21.6M, net income ($5.1M), EPS ($0.16).
- Period
- fiscal 2023 fourth quarter ended March 31, 2023
- Revenue
- $21.6M
- Net income
- ($5.1M)
- EPS
- ($0.16)
- Result
- reported results
Exact text from the filing
Revenue $21.6 $22.1 ($0.5) $77.4 $124.4 ($47.0) Gross profit $4.7 $5.3 ($0.6) $17.5 $33.9 ($16.4) Gross profit % 21.9% 23.8% (190 bps) 22.6% 27.3% (470 bps) Net (loss) (1)(2) ($5.1) ($1.2) ($3.9) ($34.3) $6.1 ($40.3) Net (loss) per share (1)(2) ($0.16) ($0.04) ($0.12) ($1.08) $0.19 ($1.27)
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Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
ORION ENERGY SYSTEMS, INC. reported fiscal year 2024 results: revenue approximately $100M. Guidance reaffirmed.
- Period
- fiscal year 2024
- Revenue
- approximately $100M
- Guidance
- reaffirmed
- Result
- guidance update
Exact text from the filing
Orion continues to expect FY 2024 revenue growth of 30% or more to approximately $100M, with a greater proportion of revenue expected in the second half.
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Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
ORION ENERGY SYSTEMS, INC. reported fiscal year 2023 ended March 31, 2023 results: revenue $77.4M, net income ($34.3M), EPS ($1.08).
- Period
- fiscal year 2023 ended March 31, 2023
- Revenue
- $77.4M
- Net income
- ($34.3M)
- EPS
- ($1.08)
- Result
- reported results
Exact text from the filing
As expected, FY 2023 revenue of $77.4M declined from $124.4M in FY 2022, due primarily to lower revenue from the company’s largest customer and a global online retailer, as well as from delays in the start of certain large LED retrofit projects, some of which commenced in Q4’23 and Q1’24. • Orion grew FY 2023 revenue outside of its largest customer and a global online retailer by approximately 11% versus FY 2022. This performance reflected progress in diversifying Orion’s customer base and revenues across its LED Lighting, electrical maintenance, and EV charging solutions businesses. • Maintenance services revenue rose 152% to $14.6M in FY 2023 versus $5.8M in FY 2022. • EV charging solutions contributed initial revenue of $6.3M in Orion’s FY 2023 second half, reflecting the Voltrek acquisition in the first week of Q3’23. • Orion’s FY 2023 net loss of ($34.3M), or ($1.08) per share, included a $17.8M non-cash tax charge to record a valuation allowance against Deferred Tax Assets and a
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