Orion Energy Q3 revenue up 28% to $26M, net loss narrows; reaffirms FY24 outlook of $90M-$95M

ORION ENERGY SYSTEMS, INC.

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

Q3'24 revenue $26.0M (+28% YoY); LED lighting revenue rose to $18.5M from $14.2M.
Net loss improved to $2.3M ($0.07/share) from $24.1M ($0.75) prior year, which included a $17.8M non-cash tax charge.
Gross margin expanded 95 bps to 24.5%; operating expenses fell to $8.4M from $9.4M.
Reaffirmed FY2024 revenue guidance of $90M-$95M; preliminary FY2025 growth target 10-15%.
Ended Q3 with $5.0M cash and $12.5M credit availability, total liquidity $17.5M.

item 2.02 item 9.01

Key facts

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 2024 third quarter (Q3'24) ended December 31, 2023 results: revenue $26.0, net income ($2.3), EPS ($0.07). Guidance reaffirmed.

Period: fiscal 2024 third quarter (Q3'24) ended December 31, 2023
Revenue: $26.0
Net income: ($2.3)
EPS: ($0.07)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. --- EX-99.1 (EX-99.1) --- EX-99.1 EXHIBIT 99.1 Orion’s Q3’24 Revenue Rose 28% to $26M on Strength in LED Lighting; Reiterates Revenue Growth Outlook of $90M-$95M for FY 2024 Manitowoc, WI – February 7, 2024 – Orion Energy Systems, Inc. (NASDAQ: OESX) ( Orion

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