secwatch.observer — SEC 8-K summary
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Issuer:     ORION ENERGY SYSTEMS, INC. (OESX)
CIK:        0001409375
Form:       8-K
Filed at:   2023-08-09T23:59:59+00:00
Accession:  0000950170-23-040154
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1409375/000095017023040154/0000950170-23-040154-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1409375/000095017023040154/oesx-20230809.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-040154

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