Orion Energy Systems Q1 revenue rises on increased large project activity

Orion expects fiscal 2027 revenue between $95 million and $97 million and anticipates positive adjusted EBITDA for the year. The company said there is uncertainty in the near-term funding and scope of EV charging projects.

Key details:

• Q1 EPS: $0.47
• Q1 net income: $2 million
• Q1 adjusted EBITDA: $2.50 million, versus a consensus estimate of $1.90 million from one analyst
• Q1 gross profit: $8.90 million

Orion Energy Systems said fiscal first-quarter revenue grew 32% year over year, helped by increased large project activity.

The U.S. LED lighting and EV charging provider also reported net income for the quarter, reversing a loss in the prior-year period. Gross margin expanded by 450 basis points, driven by pricing and cost improvements.

The company said LED lighting revenue increased 37% due to increased large project activity and entry into the hyper-scale data center market.

EV charging revenue rose 48%, reflecting variability in the timing of larger projects and uncertainty in the infrastructure environment.

Orion attributed gross margin expansion to pricing and cost improvements across the lighting and maintenance segments.