Orion Energy Systems Inc
orionlighting.comWhat Do They Do?
Sells commercial lighting fixtures and controls to businesses and government customers, and provides installation, maintenance, and electric-vehicle charging services.
10-K for FY2026, filed Jun 4, 2026We provide state-of-the-art light emitting diode (“LED”) lighting systems, wireless Internet of Things (“IoT”) enabled control solutions…View ↗
Our lighting products consist primarily of LED lighting fixtures, many of which include IoT enabled control systems provided by third…View ↗
Our lighting segment develops and sells lighting products and provides construction and engineering services for our commercial lighting…View ↗
Our maintenance segment provides retailers, distributors and other businesses with maintenance, repair and replacement services for the…View ↗
Our EV segment offers leading electric vehicle charging expertise and provides EV turnkey installation solutions with ongoing support to…View ↗
How Do They Make Money?
Customers buy products through project and purchase orders; product-only orders are generally paid around shipment or delivery. Installation and repair projects may be paid as products and services are delivered or when installation is complete; federal projects can include monthly progress payments.
10-K for FY2026, filed Jun 4, 2026Material only orders are short-term in nature generally having terms of significantly less than one year. We record revenue from these…View ↗
Turnkey projects and repair services provided to commercial or industrial companies typically span between one week to three months.…View ↗
Turnkey projects where the end-user is the federal government typically span a three to six-month period. The contracts for these sales…View ↗
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10-K for FY2026, filed Jun 4, 2026
FY2026 revenue by product or service ↗
$86.3M
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10-K for FY2026, filed Jun 4, 2026
$86.3M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Product revenue
Sold outright
10-K for FY2026, filed Jun 4, 2026 |
66%
FY2023: 74%
|
Product revenue, FY2026
$57M Sources
|
Sold outright |
|
Service revenue
|
34%
FY2023: 26%
|
Service revenue, FY2026
$29.3M Sources
|
Who Are Their Customers?
Commercial, industrial and government customers buy lighting and project solutions directly or through distributors, contractors and energy service companies. Federal government projects are obtained primarily through a select group of contractors.
10-K for FY2026, filed Jun 4, 2026The primary end-users of Orion’s lighting products and services are (a) the federal government, and (b) commercial or industrial companies.View ↗
The federal government obtains Orion products and services primarily through turnkey project sales that Orion makes to a select group of…View ↗
Commercial or industrial end-users obtain Orion products and services through turnkey project sales or by purchasing products either direct…View ↗
We typically sell our lighting systems in replacement of our customers’ existing lighting fixtures. We call this replacement process a…View ↗
We sell our products and services in one of three ways: (i) directly as a result of Orion/Voltrek offering turnkey installation services…View ↗
10-K for FY2026, filed Jun 4, 2026
In fiscal 2026, one customer accounted for 26.0% of revenue. In fiscal 2025, one customer accounted for 18.1% of total revenue. In fiscal…View ↗
Do Revenues Turn Into Profits?
No. It lost $3.2M in FY2026.
10-K for FY2026, filed Jun 4, 2026
−$1.6MView ↗
10-K for FY2026, filed Jun 4, 2026
−$3.2MView ↗
10-K for FY2026, filed Jun 4, 2026
−$1.2MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q1 FY2026, filed Aug 5, 2026
$2MView ↗
- ▲ Now profitable
- vs −$1.2M in Q1 FY2025
10-Q for Q1 FY2026, filed Aug 5, 2026
Open tableView ↗
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Sep 15, 2026
Raised fiscal 2027 revenue outlook after a retailer's additional lighting project commitment
The added project is estimated at $10 million to $15 million; outlook rose to $100 million to $102 million.
Sources
8-K, filed Sep 15, 2026
As a result of today’s announcement, Orion also announced that it expects to achieve total revenue of $100 million to $102 million for FY…View ↗
Shrinking. Revenue fell 31% in 4 years, from $124.4M in FY2022 to $86.3M in FY2026, about 9% a year.
Service expansion
The latest report adds electrical contracting to the company's services, including battery storage installation and electrical infrastructure management; the older report described lighting and electric-vehicle installation and maintenance services.
10-K for FY2023, filed Jun 12, 2023 10-K for FY2026, filed Jun 4, 2026
Who Do They Compete With?
Competes with Acuity Brands, Signify, Cree Lighting, LSI Industries, and Current Lighting Solutions
10-K for FY2026, filed Jun 4, 2026There are a number of lighting fixture manufacturers that sell LED products that compete with our lighting product lines. Lighting…View ↗
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