Every 10-Q that Orion Energy Systems, Inc. (OESX) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow OESX and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full OESX filings page.
Orion Energy Systems delivered a strong quarter for the three months ended June 30, 2026, with total revenue up 31.5% to $25.7 million and a shift from a $1.2 million net loss to $2.0 million net income, or $0.47 diluted EPS. Product revenue grew 5.2% while higher-margin service revenue nearly doubled, lifting gross margin to 34.6% from 30.1%.
All three segments contributed: lighting revenue rose 37.1% with a 14.6% operating margin, maintenance revenue increased modestly but expanded margin to 10.9%, and the EV segment grew 47.6%, moving from an operating loss to a 3.6% margin. Cash from operations was $1.4 million, raising cash to $5.2 million and working capital to $13.7 million, while total debt was $6.5 million under a $25.0 million credit facility maturing in 2030. Backlog stood at $23.7 million, below the March 31, 2026 level of $30.1 million, and one customer accounted for 38.1% of revenue and 30.9% of accounts receivable, highlighting ongoing customer concentration risk. Management indicates existing liquidity and credit availability are expected to cover capital needs for at least the next 12 months.
Orion Energy Systems returned to quarterly profitability while growing revenue and expanding its EV and maintenance businesses. For the quarter ended December 31, 2025, revenue rose to $21.1 million from $19.6 million, driven mainly by higher EV charging and maintenance service volume. Gross margin improved to 30.9% from 29.4%, as mix and cost controls offset slightly higher product and service costs.
Orion posted net income of $0.2 million, compared with a $1.5 million loss a year earlier, and its nine‑month loss narrowed sharply to $1.7 million from $8.9 million. The company highlighted about $6.5 million of annual operating expense reductions over two years and a 1‑for‑10 reverse stock split that restored Nasdaq compliance. It also secured a large new exterior lighting project expected to generate roughly $14–$15 million of revenue and renewed a three‑year maintenance contract with an estimated $42–$45 million revenue opportunity. As of December 31, 2025, Orion held $4.7 million in cash and had $9.8 million of debt outstanding, and subsequently raised approximately $6.4 million in a February 2026 stock offering to help pay down its credit facility.
Orion Energy Systems (OESX) reported Q2 FY2026 results with total revenue of $19.9 million, slightly up from $19.4 million a year ago. Gross profit rose to $6.2 million from $4.5 million as cost of services declined. The company recorded a net loss of $0.6 million versus $3.6 million last year, and basic loss per share was $0.17 after a 1‑for‑10 reverse stock split effected on August 22, 2025.
For the first six months, revenue was $39.5 million, essentially flat year over year, while the net loss narrowed to $1.8 million from $7.4 million. Operating cash flow improved to $1.3 million versus a $2.5 million use last year. Cash was $5.2 million, with $5.8 million drawn on the revolving credit facility and $8.3 million remaining availability based on a $14.1 million borrowing base as of September 30, 2025.
Orion regained Nasdaq minimum bid price compliance following the reverse split. The company addressed Voltrek earnout obligations by issuing $1.0 million of common stock (164,908 shares), paying $0.9 million in cash, and entering into $1.4 million senior subordinated debt at 7% interest. Shares outstanding were 3,530,870 as of November 4, 2025.