Orion Energy Q1 revenue $17.6M (-2% YoY), net loss widens to $6.6M; maintains FY24 30% growth outlook

ORION ENERGY SYSTEMS, INC.

2023-Q1 EPS reported -$0.21 revenue$17,613,000

Q1 revenue $17.6M vs $17.9M YoY; lighting $12.6M, maintenance $3.8M, EV charging $1.2M.
Net loss $6.6M ($0.21/sh) vs $2.8M ($0.09/sh) YoY; adjusted EBITDA loss $4.4M vs $2.9M.
Gross margin fell to 18.0% from 19.8% due to negative services margin (-11.2%) from legacy contracts.
FY2024 revenue growth outlook of 30%+ to ~$100M, with larger projects ramping in Q2.
Cash $8.2M, liquidity $16.8M; used $7.3M cash from ops; $10M borrowings on credit facility.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ORION ENERGY SYSTEMS, INC. reported fiscal 2024 first quarter (Q1'24) ended June 30, 2023 results: revenue $17.6, net income ($6.6M), EPS ($0.21) per share. Guidance reaffirmed.

Period: fiscal 2024 first quarter (Q1'24) ended June 30, 2023
Revenue: $17.6
Net income: ($6.6M)
EPS: ($0.21) per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

to this Current Report on Form 8-K. --- EX-99.1 (EX-99.1) --- EX-99.1 EXHIBIT 99.1 LED Lighting, Maintenance and EV Charging Solutions Provider Orion Reports Q1’24 Revenue of $17.6M; Maintains 30% Revenue Growth Outlook for FY 2024 Manitowoc, WI – August 9, 2023 – Orion Energy Systems, Inc. (NASDAQ: OESX) ( Orion Lighting ), a provider of energy-efficient

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accession 0000950170-23-040154

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