Orion Energy Systems, Inc. specializes in energy-efficient LED lighting, IoT control systems, EV charging stations, and related services for North American commercial, industrial, and government markets.

# Company Summary: Orion Energy Systems, Inc.

## Business Overview
- **Primary Activities:** 
  - Development, manufacturing, marketing, and sale of LED lighting systems for commercial, industrial, federal, and municipal markets.
  - Provision of wireless IoT-enabled control solutions for lighting systems.
  - Supply of electric vehicle (EV) charging infrastructure solutions.
  - Offering electrical and lighting maintenance services, including turnkey installation and system maintenance.

- **Market Segments:** 
  - Commercial office and retail
  - Area lighting
  - Industrial applications
  - Government entities (federal, municipal, military bases)
  - Healthcare and educational institutions
  - EV charging stations for various verticals

- **Sales Channels:**
  - Direct sales to large national accounts, governments, municipalities, schools, and other customers
  - Wholesale distribution primarily through electrical distributors, contractors, and energy service companies (ESCOs)
  - Use of independent sales agencies and broadline distributors
  - Contract-based project bids, often managed through turnkey retrofit solutions

- **Product Offerings:** 
  - LED lighting fixtures for interior and exterior applications, including high bays, troffers, parking, agribusiness, and outdoor lighting
  - IoT-enabled smart lighting controls
  - EV charging stations sourced from third parties, installed and supported by the company
  - Energy management systems and retrofit solutions

- **Services:**
  - Site surveys, audits, and engineering design
  - Utility incentive and government subsidy management
  - Project management from procurement to installation
  - Equipment installation, controls integration, commissioning
  - Lighting and electrical system maintenance (preventive and reactive)
  - Recycling and disposal of legacy fixtures containing hazardous materials

## Customers
- Significant customer concentration: 
  - In fiscal 2025, one customer accounted for 24.3% of total revenue.
  - In fiscal 2024, that customer contributed 25.2%.
  - In fiscal 2023, that customer contributed 16.2%.
- Total **outstanding shares** as of May 30, 2025: **33,305,699**
- **Number of shareholders** as of May 31, 2025: approximately **152**

## Employees
- Total employees as of March 31, 2025: approximately **182 full-time employees**
- No unionized workforce; employees are not represented by labor unions

## Revenue and Income (Fiscal 2025)
- **Total Revenue:** $79.72 million
  - Product Revenue: $54.37 million (down 14.1% from fiscal 2024)
  - Service Revenue: $25.35 million (down 7.0% from fiscal 2024)
- **Net Loss:** $11.80 million
- **Earnings per Share:**
  - Basic and Diluted: **$(0.36)**

## Financial Highlights (Fiscal 2024)
- **Total Revenue:** $90.58 million
- **Net Loss:** $11.67 million
- Revenue growth primarily driven by a government retrofit project and EV segment expansion
- Gross profit margin increased to **23.1%**

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**Summary**: Orion Energy Systems, Inc. specializes in energy-efficient LED lighting solutions, IoT control systems, EV charging stations, and related services for commercial, industrial, and government markets in North America. The company has approximately 182 employees, over 33 million shares outstanding, and reported revenue of approximately $79.72 million for fiscal 2025, with a net loss of $11.80 million. It serves a concentrated customer base, with one primary customer accounting for about a quarter of revenue in recent fiscal years.

Orion Energy Systems, Inc. is a prominent supplier of energy-efficient lighting and EV charging solutions, leveraging advanced LED technology and innovative energy management systems to serve various industrial and commercial clients.

# Orion Energy Systems, Inc. - Company Overview

## Description
Orion Energy Systems, Inc. is a leading provider of energy-efficient lighting solutions and services, primarily focused on light emitting diode (LED) technologies. The company offers a variety of integrated energy management systems that include:

- **LED Lighting Systems**: Comprehensive manufacturing and engineering services for commercial and industrial lighting applications.
- **Wireless IoT-Controlled Lighting**: Advanced control solutions that enable smart lighting management.
- **Electric Vehicle (EV) Charging Infrastructure**: Turnkey installation solutions for EV charging stations.
- **Maintenance Services**: Lighting and electrical maintenance services, including repair and replacement, for deployed lighting and related electrical components.

Orion primarily serves customers in multiple vertical markets, including:
- Big box retail
- Manufacturing
- Warehousing and logistics
- Commercial office spaces
- Federal and municipal governments
- Healthcare and educational facilities

### Customer Base
- Orion's principal lighting customers include large national accounts, electrical distributors, contractors, and energy service companies (ESCOs).
- Within fiscal year 2024, one major customer accounted for 25.2% of the company's total revenue.

### Employee Count
- As of March 31, 2024, Orion employed approximately **260** full-time employees, supported by temporary staff as needed.

## Financial Performance
- **Total Revenue**: In fiscal year 2024, Orion reported total revenue of **$90.58 million**, up from **$77.38 million** in fiscal year 2023.
- **Product Revenue**: Generated **$63.31 million** from product sales in fiscal 2024, an increase from **$57.21 million** in fiscal 2023.
- **Service Revenue**: Brought in **$27.27 million** from services, compared to **$20.17 million** in the previous fiscal year.
- **Gross Profit**: The company achieved a gross profit of **$20.91 million**, with a gross margin of **23.1%** in fiscal 2024.
- **Net Loss**: In fiscal year 2024, Orion recorded a net loss of **$11.67 million**, following a net loss of **$34.34 million** in fiscal year 2023. This highlights ongoing challenges in profitability despite revenue growth.

## Business Segments
Orion Energy Systems operates through three main segments:
1. **Lighting Segment**: Primarily focuses on developing and selling lighting products and engineering services. This segment reported revenues of **$61.10 million** in fiscal 2024.
   
2. **Maintenance Segment**: Provides maintenance and repair services, generating **$17.15 million** in revenue in fiscal 2024 but incurred operating losses due to increased costs.

3. **EV Segment**: Offers EV charging solutions, with revenues increasing to **$12.33 million** in fiscal 2024 due to a full year of contribution from the acquired company Voltrek.

## Conclusion
Orion Energy Systems, Inc. continues its mission to support customers in achieving sustainability and energy efficiency goals with innovative lighting and EV solutions. Despite facing financial challenges, the company is making strides in revenue growth and market penetration, particularly in the rapidly evolving EV charging sector.

ORION ENERGY SYSTEMS, INC.

10-K / June 26, 2025

10-K / June 12, 2024

10-K / June 26, 2025

Company Summary: Orion Energy Systems, Inc.

Business Overview

Customers

Employees

Revenue and Income (Fiscal 2025)

Financial Highlights (Fiscal 2024)