Orion Energy pre-announces Q2 FY25 revenue of ~$19.4M, cuts FY25 growth outlook to ~10%

ORION ENERGY SYSTEMS, INC.

2024-Q2 EPS reported -$0.23 revenue$39,267,000

Q2 FY25 revenue ~$19.4M vs $20.6M a year ago; H1 FY25 revenue ~$39.3M vs $38.2M.
EV charging solutions revenue rose 40% to $4.7M; LED lighting fell 20% to $10.8M on project delays.
Maintenance services revenue up 5% to $3.8M; gross profit margin rebounded 2,290 bps from negative margin in Q2'24.
FY25 revenue outlook revised to ~10% growth (from prior 10-15%); second half weighting shifts to Q4.
New 5-year, $25M LED lighting contract secured with largest customer (major national retailer).

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