secwatch.observer — SEC 8-K summary
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Issuer:     ORION ENERGY SYSTEMS, INC. (OESX)
CIK:        0001409375
Form:       8-K
Filed at:   2023-11-07T23:59:59+00:00
Accession:  0000950170-23-059772
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Orion Q2 revenue $20.6M (+17% YoY); net loss widens to $4.4M; maintains FY2024 outlook
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- Q2'24 revenue $20.6M vs $17.6M a year ago; EV charging solutions contributed $3.4M vs $0.
- Net loss ($4.4M), or ($0.14) per share, vs ($2.3M), ($0.07) in Q2'23; adjusted EBITDA ($2.2M) vs ($1.5M).
- Gross margin on services fell to -2.4% from 18.8% due to inflationary pressures on legacy fixed-price contracts.
- Maintains FY2024 revenue growth guidance of 30%+ to ~$100M, with bulk of increase in 2H.
- Cash and equivalents $4.0M; $8.9M net availability on credit facility at quarter end.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1409375/000095017023059772/0000950170-23-059772-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1409375/000095017023059772/oesx-20231107.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-059772

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