Orion Energy Q3 revenue $19.6M (-25% YoY); cuts FY25 outlook to $77-83M; NEOs/board take 10% pay cut

ORION ENERGY SYSTEMS, INC.

2024-Q3 EPS reported -$0.27 revenue$58,851,000

Q3 revenue $19.6M vs $26.0M YoY; net loss improved to -$1.5M (-$0.05/sh) from -$2.3M.
Gross margin rose 490bps to 29.4%; Adjusted EBITDA was breakeven vs -$0.1M YoY.
FY25 revenue outlook reduced to $77-83M from prior, citing customer project delays.
NEOs and board agreed to voluntary 10% salary/re-tainer reductions through at least March 31, 2025.
Reorganizing into two commercial business units effective April 1, 2025; targeting $1.5M annualized savings.

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