Orion Energy Q3 prelim revenue ~$26M (+28% YoY); cuts FY24 outlook to $90M-$95M

ORION ENERGY SYSTEMS, INC.

2023-Q3 EPS reported -$0.41 revenue$64,170,000

Preliminary Q3 revenue $25.8M-$26.2M, up ~28% from $20.3M in Q3'23.
LED lighting revenue rose to ~$18.6M from $14.2M; EV charging flat at $2.8M.
Liquidity improved to $17.5M ($5M cash + $12.5M credit availability).
FY2024 revenue outlook reduced to $90M-$95M from prior expectation of at least $100M.
CEO cites customer-related delays on European DoD LED project; expects completion in Q4.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ORION ENERGY SYSTEMS, INC. reported fiscal 2024 third quarter ended December 31, 2023 results: revenue $25.8M to $26.2M. Guidance lowered.

Period: fiscal 2024 third quarter ended December 31, 2023
Revenue: $25.8M to $26.2M
Guidance: lowered
Result: preliminary results

Exact text from the filing

reference. --- EX-99.1 (EX-99.1) --- EX-99.1 EXHIBIT 99.1 LED Lighting, EV Charging and Electrical Maintenance Provider Orion Announces Preliminary Q3’24 Revenue Growing to $25.8M-$26.2M and Improved Cash Position; Updates FY 2024 Anticipated Revenue Outlook to $90M-$95M Manitowoc, WI – January 18, 2024 – Orion Energy Systems, Inc. (NASDAQ: OESX) (Orion

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ORION ENERGY SYSTEMS, INC. reported fiscal year ending March 31, 2024 results: revenue $90M to $95M. Guidance lowered.

Period: fiscal year ending March 31, 2024
Revenue: $90M to $95M
Guidance: lowered
Result: guidance update

Exact text from the filing

Orion now expects FY 2024 revenue growth between 16% and 23% to a range of approximately $90M to $95M.

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Source: SEC EDGAR

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