Orion Energy Systems, Inc.
9.99-0.03 (-0.3%)
Oct 28, 4:00:00 PM EDT · NasdaqCM · OESX · USD
Key Stats
Market Cap
35.27MP/E (TTM)
-Basic EPS (TTM)
-2.79Dividend Yield
0%Recent Filings
8-K
Orion settles Voltrek earnout
Orion Energy Systems settled its Voltrek acquisition earnout by paying Final Frontier $875,000 cash and issuing 1.65 million shares worth $1 million, while deferring the remaining fiscal 2025 amount—capped at $3 million post-arbitration—via a senior subordinated note at 7% interest with monthly principal starting January 2026 and maturing July 2027. The deal secures Bank of America's senior debt priority through a subordination agreement, freeing Orion from disputes but adding a second lien on assets. This eases cash flow yet ties up liquidity through 2027.
8-K
Nasdaq compliance regained via split
Orion Energy Systems regained Nasdaq Capital Market listing compliance on September 8, 2025, after a 1-for-10 reverse stock split effective August 22 boosted its bid price above $1.00. This resolves prior deficiencies from 30 consecutive days below the threshold, securing continued trading without delisting threats. Compliance restored. Yet, sustaining the price remains key amid market pressures.
8-K
Reverse split for Nasdaq compliance
Orion Energy Systems approved a 1-for-10 reverse stock split, effective August 22, 2025, slashing outstanding shares from 35.2 million to about 3.5 million while proportionally cutting authorized shares to 20 million. This move aims to boost the bid price above Nasdaq's $1.00 minimum for continued listing. No fractional shares issued; cash payments instead. Yet compliance isn't guaranteed amid market risks.
8-K
Shareholders approve key proposals
Orion Energy Systems shareholders overwhelmingly approved key proposals at the August 7, 2025 annual meeting, electing directors Anthony L. Otten and Sally A. Washlow with over 90% support. They ratified BDO USA as auditors for fiscal 2026 by 98%, endorsed executive pay at 92.28%, and greenlit a flexible reverse stock split (1-for-2 to 1-for-100) at 91.42%. Shareholders also backed a special 500,000-share stock option for the new CEO, passing 91.86%. Strong backing signals confidence in leadership.
10-Q
Q1 FY2026 results
Orion Energy Systems posted Q1 FY2026 revenue of $19.6M, down 1.7% y/y but flat q/q, with product sales up 5.8% y/y to $13.5M while services dipped 15.1% y/y to $6.1M; gross profit climbed 37.3% y/y to $5.9M, lifting margins to 30.1% from 21.6%, thanks to cost cuts in services and steady lighting demand. Operating loss narrowed to $1.0M from $3.4M y/y, and diluted EPS improved to -$0.04 from -$0.12, consistent with 33.3M weighted shares and anti-dilutive effects. Cash fell to $3.6M amid $0.5M operating outflow, yet revolver availability stood at $6.2M under the $25M facility maturing June 2027, with total debt at $8.5M; free cash flow not disclosed in the 10-Q. EV charging revenue dropped 29.6% y/y to $2.7M due to softer municipal volumes, but maintenance surged 20.2% y/y. A binding term sheet closed June 2025 settled $0.9M of Voltrek earn-outs in cash, with $1.0M in stock issued July 2025 and remaining payments via a 7% note starting 2026. Nasdaq compliance hangs by a thread until September 2025.
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