{"id":970495,"date":"2026-06-04T07:11:56","date_gmt":"2026-06-04T11:11:56","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/orion-reports-fy-2026-revenue-of-86m-and-adjusted-ebitda-of-2-2m-after-continued-growth-in-q4-reiterates-fy-2027-expectation-of-95m-97m-in-revenue-and-positive-adjusted-ebitda\/"},"modified":"2026-06-04T07:11:56","modified_gmt":"2026-06-04T11:11:56","slug":"orion-reports-fy-2026-revenue-of-86m-and-adjusted-ebitda-of-2-2m-after-continued-growth-in-q4-reiterates-fy-2027-expectation-of-95m-97m-in-revenue-and-positive-adjusted-ebitda","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/orion-reports-fy-2026-revenue-of-86m-and-adjusted-ebitda-of-2-2m-after-continued-growth-in-q4-reiterates-fy-2027-expectation-of-95m-97m-in-revenue-and-positive-adjusted-ebitda\/","title":{"rendered":"Orion Reports FY 2026 Revenue of $86M and Adjusted EBITDA of $2.2M After Continued Growth in Q4; Reiterates FY 2027 Expectation of $95M-$97M in Revenue and Positive Adjusted EBITDA"},"content":{"rendered":"
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MANITOWOC, Wis., June 04, 2026 (GLOBE NEWSWIRE) — Orion Energy Systems, Inc.<\/strong> (NASDAQ: OESX) (Orion Lighting<\/a>), a provider of energy-efficient LED lighting, electric vehicle (EV) charging stations and maintenance services solutions, today reported improved results for its fiscal 2026 fourth quarter (Q4\u201926) and full fiscal year 2026 (FY\u201926) ended March 31, 2026.<\/p>\n

Orion\u2019s Q4\u201926 revenue was $25.7M versus $20.9M in Q4\u201925 \u2014 a 23% increase \u2014 while Q4\u201926 gross margin was up by 950 basis points year-over-year, at 37.0% versus 27.5% in Q4\u201925. The Company improved its net loss in Q4\u201926 to $1.5M, compared to a net loss of $2.9M in Q4\u201925. The Company achieved Q4\u201926 adjusted EBITDA of $0.8M \u2014 marking its sixth consecutive quarter of positive adjusted EBITDA \u2013 compared to adjusted EBITDA of $0.2M in Q4\u201925.<\/p>\n

For the full fiscal year of FY\u201926, Orion\u2019s revenue was $86.3M versus $79.7M in FY\u201925, while FY\u201926 gross margin was 32.5% vs. 25.4% in FY\u201925. The Company improved its net loss in FY\u201926 to $3.2M, compared to a net loss of $11.8M in FY\u201925. The Company achieved FY\u201926 adjusted EBITDA of $2.2M, compared to an adjusted EBITDA loss of $(2.9M) in FY\u201925.<\/p>\n

Each quarter of FY\u201926 delivered gross margins above 30%, a level of performance not previously seen.\u00a0This is a result of Orion\u2019s structural reset, which it expects to be continually beneficial moving forward. Similarly, revenue \u2014 which came in at the high end of our FY\u201926 public guidance range \u2014 continues to grow as we enter FY\u201927.<\/p>\n

The Company continues to execute on its plan and build momentum in the current fiscal year.\u00a0Starting FY\u201927 with a backlog of $30M \u2014 a year-over-year increase of $13M, Orion reiterated its expectations of positive adjusted EBITDA on revenue of between $95 million and $97 million in FY\u201927, which began April 1, 2026, up 12% over FY\u201926.<\/p>\n

The Company said that its increasing expectations for the current fiscal year were validated by a number of factors. The ongoing improvement in the quality and size of its backlog is a result of continued project demand and growing opportunities within many of the Company\u2019s revenue segments.<\/p>\n

\u201cThe results we are reporting today \u2014 highlighted by our sixth straight quarter of positive adjusted EBITDA \u2014 validate an observation I have made previously: Orion is demonstrably on a profitable growth path,\u201d said Orion\u2019s Chief Executive Officer, Sally Washlow, who recently completed her first year as CEO. \u201cOur FY\u201926 results and FY\u201927 expectations speak clearly to the success of a continuously improving sales funnel, organic growth from large customers, a resilient and adaptable proprietary supply chain and highly disciplined cost containment. We expect FY\u201927 to demonstrate that Orion is emerging robustly from a turnaround to a sustainable growth company.\u201d<\/p>\n

Orion is providing adjusted EBITDA guidance only on a non-GAAP basis and does not provide a reconciliation of its forward-looking adjusted EBITDA non-GAAP guidance to the most directly comparable GAAP measure due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation, the amounts of which, based on historical experience, could be significant. For additional information regarding Orion\u2019s non-GAAP measures, see the related explanation presented under \u201cNon-GAAP Measures.\u201d<\/p>\n

Orion is scheduled to discuss these results in an investor call today at 10:00 a.m. ET (details below).<\/p>\n\n\n\n\n\n\n\n\n
\n Webcast and Call Details<\/strong>\n <\/td>\n<\/tr>\n
Date \/ Time:<\/td>\nThursday, June 4, at 10:00 a.m. ET<\/td>\n<\/tr>\n
Live Call Registration:<\/td>\n\n https:\/\/register-conf.media-server.com\/register\/BI83b6ae45a1654d28babfa53b6617f6cc<\/a>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Live call participants must pre-register using the URL above to receive the dial-in information. Anyone can re-register if they lose the dial-in or PIN #.<\/td>\n<\/tr>\n
Webcast & Replay:<\/td>\n\n https:\/\/edge.media-server.com\/mmc\/p\/zmyzetzn<\/a>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n Q4’26 and FY’26 Financial Performance<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Q4’26 Summary<\/strong>\n <\/td>\n\u00a0<\/td>\n\n FY’26 Summary<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Prior Three Quarters<\/strong>\n <\/td>\n<\/tr>\n
$ in millions except per share figures<\/td>\n\n Q4’26<\/strong>\n <\/td>\nQ4’25<\/td>\nChange<\/td>\n\u00a0<\/td>\nFY’26<\/td>\nFY’25<\/td>\nChange<\/td>\n\u00a0<\/td>\nQ3\u201926<\/td>\nQ2’26<\/td>\nQ1’26<\/td>\n<\/tr>\n
LED Lighting Revenue<\/td>\n\n $<\/strong>
\n 20.3<\/strong>\n <\/td>\n		$10.9<\/td>\n+86%<\/td>\n\u00a0<\/td>\n$55.9<\/td>\n$47.7<\/td>\n+17%<\/td>\n\u00a0<\/td>\n$12.1<\/td>\n$10.7<\/td>\n$12.9<\/td>\n<\/tr>\n
EV Charging Revenue<\/td>\n\n $<\/strong>
\n 2.3<\/strong>\n <\/td>\n		$5.8<\/td>\n-61%<\/td>\n\u00a0<\/td>\n$14.4<\/td>\n$16.8<\/td>\n-15%<\/td>\n\u00a0<\/td>\n$4.7<\/td>\n$4.8<\/td>\n$2.7<\/td>\n<\/tr>\n
Maintenance Revenue<\/td>\n\n $<\/strong>
\n 3.2<\/strong>\n <\/td>\n		$4.1<\/td>\n-23%<\/td>\n\u00a0<\/td>\n$16.0<\/td>\n$15.2<\/td>\n+6%<\/td>\n\u00a0<\/td>\n$4.4<\/td>\n$4.5<\/td>\n$4.0<\/td>\n<\/tr>\n
\n Total Revenue<\/strong>\n <\/td>\n\n $<\/strong>
\n 25.7<\/strong>\n <\/td>\n		$20.9<\/td>\n+23%<\/td>\n\u00a0<\/td>\n$86.3<\/td>\n$79.7<\/td>\n+8%<\/td>\n\u00a0<\/td>\n$21.1<\/td>\n$19.9<\/td>\n$19.6<\/td>\n<\/tr>\n
\n Gross Profit<\/strong>\n <\/td>\n\n $<\/strong>
\n 9.5<\/strong>\n <\/td>\n		$5.7<\/td>\n+$3.8<\/td>\n\u00a0<\/td>\n$28.1<\/td>\n$20.2<\/td>\n+$7.9<\/td>\n\u00a0<\/td>\n$6.5<\/td>\n$6.2<\/td>\n$5.9<\/td>\n<\/tr>\n
\n Gross Margin<\/strong>\n <\/td>\n\n 37.0<\/strong>
\n %<\/strong>\n <\/td>\n		27.5%<\/td>\n+950bps<\/td>\n\u00a0<\/td>\n32.6%<\/td>\n25.4%<\/td>\n+720bps<\/td>\n\u00a0<\/td>\n30.9%<\/td>\n31.0%<\/td>\n30.1%<\/td>\n<\/tr>\n
\n Net Income (Loss)<\/strong>(1)(2)(3)(4)<\/td>\n\n $<\/strong>
\n (1.5<\/strong>
\n )<\/strong>\n <\/td>\n		$(2.9)<\/td>\n+$1.4<\/td>\n\u00a0<\/td>\n$(3.2)<\/td>\n$(11.8)<\/td>\n+$8.6<\/td>\n\u00a0<\/td>\n$0.2<\/td>\n$(0.6)<\/td>\n$(1.2)<\/td>\n<\/tr>\n
\n Net Income (Loss) Per Share<\/strong>(1)(2)(3)(4)<\/td>\n\n $<\/strong>
\n (0.39<\/strong>
\n )<\/strong>\n <\/td>\n		$(0.88)<\/td>\n+$0.49<\/td>\n\u00a0<\/td>\n$(0.89)<\/td>\n$(3.59)<\/td>\n+$2.70<\/td>\n\u00a0<\/td>\n$0.04<\/td>\n$(0.17)<\/td>\n$(0.37)<\/td>\n<\/tr>\n
\n Adjusted EBITDA<\/strong>(5)<\/td>\n\n $<\/strong>
\n 0.8<\/strong>\n <\/td>\n		$0.2<\/td>\n+$0.6<\/td>\n\u00a0<\/td>\n$2.2<\/td>\n$(2.9)<\/td>\n+$5.1<\/td>\n\u00a0<\/td>\n$0.8<\/td>\n$0.5<\/td>\n$0.2<\/td>\n<\/tr>\n
(1) Voltrek earnout expenses were $0.3M in Q1’25, $0.6M in Q2’25, $0.5M in Q3’25, $0.5M in Q4’25, $0.0M in Q1’26, Q2’26, Q3’26, and $1.7M in Q4’26.
(2) Q4’26 included $1.1M of expenses for the non-cash write-off of solar assets.
(3) Q1’25 and Q2’25 also included $0.4M and $0.3M, respectively, of maintenance division restructuring costs. Q1’26 had $0.6M of executive sign-on bonus and severance expenses.
(4) Q4’26 revenue included $1.3M associated with amending a solar energy contract that had no associated cost of goods.
(5) Adjusted EBITDA reconciliation provided below.<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n Commentary from CEO Sally Washlow\u00a0<\/strong>\n <\/p>\n

\u201cIt is extremely gratifying to complete my first year as CEO of Orion. In the space of a year, we have gone from a turnaround to a growth company. We have maintained our Nasdaq listing, strengthened our balance sheet, completed our Voltrek earnout payments, extended our credit agreement and embarked on a demonstrable trajectory of profitable growth and margin expansion.<\/p>\n

\u201cWe have seen both growth and resilience in new and existing large customers in the automotive, retail and public sectors. Deployments of LED lighting have become bigger and more numerous, illustrating customer relationships that have broadened and deepened.<\/p>\n

\u201cWe expect continued growth in revenue and profitability in FY\u201927.<\/p>\n

\u201cGrowth, increasing profitability and continued market expansion are our expected themes for FY\u201927. As I\u2019ve said before: I expect it, our team expects it and our shareholders expect it.<\/p>\n

\u201cAnd as I mark the completion of my inaugural year as Orion\u2019s Chief Executive Officer, I\u2019d like to express my sincere appreciation to our shareholders, partners and employees for your continued support of our company.\u201d said Ms. Washlow.<\/p>\n

\n Q4\u201926 Business Highlights<\/strong>\n <\/p>\n

\u2014 A $21M array of electrical contracting engagements distributed among seven customers.<\/p>\n

\u2014 A previously announced $42M-$45M three-year renewal of our preventative maintenance contract for 2,050 big-box retail outlets, as well as another $14M-$15M contract for exterior lighting work for this customer.<\/p>\n

\u2014 A $10M array of 80 EV charging station installations dispersed from the Northeast, to the Carolinas to California.<\/p>\n

\u2014 A $4M project to install 105 EV charging stations for the Boston Public Schools, one of the largest school districts in the nation.<\/p>\n

\u2014 A $3.6M electrical infrastructure and LED lighting engagement for a leading international lab-based testing company.<\/p>\n

\u2014 A $3.1M electrical contracting engagement, representing a follow-on project in an ongoing scope of work for a longtime customer.<\/p>\n

\u2014 A $3M lighting and electrical infrastructure engagement with one of the leading food-service enterprises in the United States.<\/p>\n

\u2014 The roll-out of Orion\u2019s new On-Site Battery Storage System for industrial, commercial and public sector enterprises. The product is being deployed in 10 locations in California.<\/p>\n

\u2014 A\u00a0public offering with net proceeds of $6.4M that served to bolster the Company\u2019s balance sheet.<\/p>\n

In operations, we continued to maintain gross margin of about 31% as we recorded positive adjusted EBITDA for the sixth quarter in a row.<\/p>\n

\n Q4\u201926 and FY\u201926 Financial Results <\/strong>\n <\/p>\n

Orion\u2019s Q4\u201926 revenue was $25.7M versus $20.9M in Q4\u201925, while Q4\u201926 gross margin was 37.0% versus 27.5% in Q4\u201925. The Company\u2019s net loss in Q4\u201926 improved to $1.5M versus a net loss of $2.9M in Q4\u201925. The Company achieved Q4\u201926 adjusted EBITDA of $0.8M \u2014 marking its sixth consecutive quarter of positive adjusted EBITDA \u2014 compared to adjusted EBITDA of $0.2M in Q4\u201925. Orion\u2019s Q4\u201926 revenue included $1.3M associated with amending a solar energy contract that had no associated cost of goods.<\/p>\n

Orion\u2019s FY\u201926 revenue was $86.3M versus $79.7M in FY\u201925, while FY\u201926 gross margin was 32.6% versus 25.4% in FY\u201925. The Company\u2019s net loss in FY\u201926 improved to $3.2M, compared to a net loss of $11.8M in FY\u201925. The Company achieved FY\u201926 adjusted EBITDA of $2.2M, compared to adjusted EBITDA of $(2.9M) in FY\u201925.<\/p>\n

Orion also reported the following segment performance:<\/p>\n