OESXNasdaqElectric Lighting & Wiring EquipmentUS GAAP · USD

Orion Energy Systems, Inc

Orion Energy Systems is a U.S.-based provider of LED lighting systems, IoT-enabled lighting controls, EV charging infrastructure, and lighting and electrical maintenance services. The company serves commercial and industrial customers across North America through direct sales, distributors, contractors, and energy service companies, with manufacturing and assembly centered in Wisconsin.

Kysy yhtiöstä
Liikevaihto86,3milj. USD
+8,3 %v/v
Liikevoitto (EBIT)−1,6milj. USD
+84,5 %v/v
EBIT-marginaali−1,9%
+11,4 %-yks.v/v
Nettotulos−3,2milj. USD
+73,2 %v/v
Vapaa kassavirta−1,2milj. USD
−332,4 %v/v

Tilikausi 2026 · muutos edellisvuodesta

Kehitys 2021–2026

−50050100150milj. USD2021: 117 milj. USD2021: EBIT 6,8 milj. USD20212022: 124 milj. USD2022: EBIT 8,4 milj. USD20222023: 77 milj. USD2023: EBIT −16 milj. USD20232024: 91 milj. USD2024: EBIT −11 milj. USD20242025: 80 milj. USD2025: EBIT −11 milj. USD20252026: 86 milj. USD2026: EBIT −1,6 milj. USD202686−1,6
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Orion Energy Systems, Inc

Liiketoiminta

Osuus liikevaihdosta
Lighting products55 %

LED fixtures, controls, and related lighting systems for commercial and industrial use.

Turnkey installation services20 %

Engineering, project management, and installation for lighting and EV projects.

Maintenance services15 %

Repair, replacement, and ongoing maintenance for lighting and electrical assets.

EV charging solutions10 %

Commercial and industrial EV charging infrastructure and related installation work.

Tuotteet

Raportoitu · osuus liikevaihdosta
66,1%33,9%FY2026100 %
  • Products66,1 %
  • Services33,9 %

Lähde: 10-K FY2026, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

Orion sells to commercial and industrial end users that need energy-efficient lighting, controls, maintenance, or EV charging infrastructure. Its customer base includes large national accounts, regional businesses, government facilities, schools, electrical distributors, electrical contractors, and ESCOs, with many projects delivered on a retrofit or multi-site basis.

Large national account end-users

Buy turnkey lighting retrofits and controls for multiple facilities to reduce energy use and maintenance needs.

Electrical distributors and contractors

Purchase lighting products and related support for resale or installation on customer projects.

ESCOs

Source lighting systems and project support for energy-savings contracts and retrofit programs.

Government and public-sector facilities

Buy lighting and EV infrastructure for schools, municipalities, and federal sites.

Maintenance customers

Retailers, distributors, and other businesses buying repair and replacement services.

Strategia

Orion’s strategy centers on cross-selling lighting, maintenance, and EV charging across its commercial and industrial customer base. The company also emphasizes turnkey project execution, channel partnerships, and broader use of third-party sourcing to expand product flexibility and service reach.

Cross-sell across three platformsKeskipitkä aikaväli

Combining lighting, maintenance, and EV charging increases wallet share and customer retention.

Grow turnkey project executionKeskipitkä aikaväli

Large retrofit programs require engineering, project management, and installation capabilities.

Broaden sourcing and product offeringsLyhyt aikaväli

Third-party sourcing can improve product variety and reduce dependence on in-house manufacturing.

Strengthen operating systems and infrastructureLyhyt aikaväli

ERP and fleet/tooling investments support project delivery and internal control.

Maantiede

Virtually all of Orion’s sales occur within North America, with a small portion tied to U.S. Department of Defense bases operating in foreign countries. The business is operationally anchored in the United States, including a leased production facility in Manitowoc, Wisconsin, which supports lighting product manufacturing and sourcing coordination.

Riskit

Orion’s business depends on project-based demand, customer spending on energy upgrades, and the ability to execute installations efficiently across many sites. Key risks include liquidity and earn-out obligations, supply chain and tariff exposure, reliance on third-party manufacturers, cybersecurity, and impairment risk tied to acquired goodwill and intangibles.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Liquidity and capital resource constraints1Earn-out and dilution risk from Voltrek acquisition2Goodwill and intangible asset impairment3Supply chain and tariff exposure4Dependence on third-party manufacturers5Cybersecurity breach6
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Liquidity and capital resource constraintsVaikutus: KorkeaTodennäköisyys: Korkea

    Working capital needs, debt obligations, and earn-out payments can exceed available resources.

    KohdistuuDebt serviceWorking capitalAcquisition obligations
  2. Earn-out and dilution risk from Voltrek acquisitionVaikutus: KorkeaTodennäköisyys: Korkea

    Remaining earn-out obligations may require cash or stock and could dilute shareholders.

    Kohdistuu: Acquisition liabilities

  3. Goodwill and intangible asset impairmentVaikutus: KorkeaTodennäköisyys: Korkea

    Acquired assets may need write-downs if operating performance or cash flows weaken.

    KohdistuuAcquisitionsReporting units
  4. Supply chain and tariff exposureVaikutus: KeskitasoTodennäköisyys: Korkea

    Lighting products rely on components and raw materials that can face shortages or price spikes.

    KohdistuuLED componentsSourced products
  5. Dependence on third-party manufacturersVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    More sourcing from outside suppliers can reduce control over quality, timing, and cost.

    Kohdistuu: Product development and fulfillment

  6. Cybersecurity breachVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Connected lighting and business systems create exposure to data and operational disruption.

    KohdistuuIoT controlsIT systems
Kysy Clarifolta: Orion Energy Systems, Inc

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition under ASC 606

Turnkey installations, maintenance, and EV projects may be recognized at different times and methods.

Vaikutus: Quarterly revenue mix and margin comparability

Inventory valuation

Lighting components and finished goods may require reserves if demand or pricing changes.

Vaikutus: Cost of sales and gross margin

Goodwill and intangible impairment

Acquired businesses and customer relationships must be tested for recoverability.

Vaikutus: Potential non-cash impairment charges

Earn-out liability accounting

Voltrek-related contingent payments depend on final determination and settlement terms.

Vaikutus: Liabilities, equity dilution, and cash flow

Stock-based compensation

Restricted stock awards require fair value estimation and expense recognition over service periods.

Vaikutus: Operating expenses and diluted share count

Samankaltaisia listattuja yhtiöitä

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Orion S.A.

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Orion Group Holdings Inc

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Orion Digital Corp.

ORIO · Finance Services

Energy Focus, Inc

EFOI · Electric Lighting & Wiring Equipment

Päivitetty: 24.9.2026