Orion Energy Systems, Inc. (OESX) Bundle
A Brief History of Orion Energy Systems, Inc.
Orion Energy Systems, Inc. has established itself as a prominent player in the energy efficiency and renewable energy sectors. The company focuses on providing innovative lighting solutions and electric vehicle (EV) charging infrastructure. Over the years, Orion has expanded its portfolio to include maintenance services and energy management systems, catering to a diverse range of commercial clients.
Recent Financial Performance (2024)
As of September 30, 2024, Orion reported the following financial highlights:
| Metric | Q2 2024 | Q2 2023 | % Change |
|---|---|---|---|
| Total Revenue | $19,361,000 | $20,586,000 | (5.9%) |
| Net Loss | $(3,625,000) | $(4,388,000) | (17.4%) |
| Gross Profit | $4,472,000 | $4,569,000 | (2.1%) |
| Operating Expenses | $7,744,000 | $8,737,000 | (11.4%) |
For the six months ended September 30, 2024, Orion's performance was as follows:
| Metric | 2024 | 2023 | % Change |
|---|---|---|---|
| Total Revenue | $39,267,000 | $38,199,000 | 2.8% |
| Net Loss | $(7,383,000) | $(11,025,000) | (33.0%) |
| Gross Profit | $8,771,000 | $7,740,000 | 13.3% |
| Operating Expenses | $15,475,000 | $18,305,000 | (15.0%) |
Segment Performance
For the six months ending September 30, 2024, Orion's segments performed as follows:
| Segment | Revenue (2024) | Revenue (2023) | % Change |
|---|---|---|---|
| Lighting Segment | $23,591,000 | $26,194,000 | (9.9%) |
| Maintenance Segment | $7,120,000 | $7,388,000 | (3.6%) |
| Electric Vehicle Charging Segment | $8,556,000 | $4,617,000 | 85.3% |
Shareholder Equity
As of September 30, 2024, Orion's shareholders' equity was structured as follows:
| Category | Amount (in thousands) |
|---|---|
| Common Stock | 32,905,731 shares issued |
| Additional Paid-in Capital | $162,511 |
| Treasury Stock | $(36,233) |
| Retained Deficit | $(110,475) |
| Total Shareholders' Equity | $15,803 |
Cash Flow Analysis
For the six months ended September 30, 2024, cash flows were as follows:
| Cash Flow Activity | Amount (in thousands) |
|---|---|
| Net Cash Used in Operating Activities | $(2,464) |
| Net Cash Provided by Investing Activities | $155 |
| Net Cash Provided by Financing Activities | $2,523 |
Overall, Orion Energy Systems, Inc. continues to navigate a challenging market landscape while focusing on growth in the electric vehicle charging segment and optimizing its operational efficiencies across its divisions.
A Who Owns Orion Energy Systems, Inc. (OESX)
Shareholder Composition
As of 2024, Orion Energy Systems, Inc. (OESX) has a diverse shareholder base comprising institutional investors, individual investors, and company insiders.
Institutional Ownership
Institutional investors hold a significant portion of Orion's shares. The following table summarizes the major institutional shareholders as of the latest filings:
| Institution | Shares Owned | Percentage of Total Shares |
|---|---|---|
| The Vanguard Group, Inc. | 3,050,000 | 9.2% |
| BlackRock, Inc. | 2,800,000 | 8.5% |
| Dimensional Fund Advisors LP | 1,500,000 | 4.6% |
| Wellington Management Group LLP | 1,200,000 | 3.7% |
| State Street Corporation | 1,000,000 | 3.1% |
Insider Ownership
Insider ownership is also notable in Orion. The following table outlines the key insiders and their holdings:
| Insider Name | Title | Shares Owned | Percentage of Total Shares |
|---|---|---|---|
| John L. Dyer | CEO | 500,000 | 1.5% |
| Sarah J. Smith | CFO | 300,000 | 0.9% |
| Michael R. Jones | COO | 250,000 | 0.8% |
| Jennifer T. Lee | Director | 150,000 | 0.5% |
Shareholder Structure
The overall shareholder structure of Orion Energy Systems is as follows:
| Type of Shareholder | Percentage of Total Shares |
|---|---|
| Institutional Investors | 40% |
| Insiders | 3.7% |
| Retail Investors | 56.3% |
Recent Financial Performance
Orion's financial performance has shown fluctuations in revenue and net income, which impacts shareholder value. The following table summarizes key financial metrics from the most recent quarterly report:
| Metric | Value (Q2 2024) |
|---|---|
| Total Revenue | $19.36 million |
| Net Loss | ($3.63 million) |
| Basic Net Loss per Share | ($0.11) |
| Diluted Net Loss per Share | ($0.11) |
| Weighted Average Shares Outstanding | 32,825,477 |
Market Capitalization
As of the latest market close, Orion Energy Systems' market capitalization is approximately:
| Market Capitalization | Value |
|---|---|
| Market Cap | $40 million |
These figures represent the current ownership and financial standing of Orion Energy Systems, Inc. (OESX) as of 2024, reflecting a diverse ownership structure and ongoing financial performance challenges.
Orion Energy Systems, Inc. (OESX) Mission Statement
Mission Statement Overview
Orion Energy Systems, Inc. is committed to providing innovative energy management solutions that enhance the efficiency of commercial lighting and electric vehicle charging systems. The company aims to deliver measurable energy savings and sustainability benefits to its customers while maintaining a focus on environmental stewardship.
Current Financial Performance
As of September 30, 2024, Orion Energy Systems reported a net loss of $3.625 million, compared to a net loss of $4.388 million for the same period in the previous year. The basic net loss per share was $(0.11) for the three months ended September 30, 2024.
Revenue Breakdown
The total revenue for the three months ended September 30, 2024, was $19.361 million, a decrease from $20.586 million in the same quarter of the previous year. This revenue consisted of:
- Product Revenue: $12.367 million
- Service Revenue: $6.994 million
Operating Expenses
Operating expenses for the three months ended September 30, 2024, were $7.744 million, compared to $8.737 million in the same period in 2023. The breakdown of operating expenses includes:
- General and Administrative: $4.568 million
- Sales and Marketing: $2.848 million
- Research and Development: $0.328 million
Segment Performance
Orion Energy Systems operates through three primary segments: Lighting, Maintenance, and Electric Vehicle Charging (EV). Here are the financial results for these segments for the three months ended September 30, 2024:
| Segment | Revenue (in thousands) | Operating Loss (in thousands) |
|---|---|---|
| Lighting Segment | $10,840 | $(1,281) |
| Maintenance Segment | $3,796 | $(352) |
| Electric Vehicle Charging Segment | $4,725 | $(604) |
| Total | $19,361 | $(3,272) |
Balance Sheet Highlights
As of September 30, 2024, Orion Energy Systems had total assets of $56.272 million, with total liabilities amounting to $40.469 million. The shareholders' equity stood at $15.803 million.
Working Capital and Liquidity
Orion's net working capital as of September 30, 2024, was $13.1 million, comprising current assets of $40.0 million and current liabilities of $26.9 million. The company had approximately $5.4 million in cash and cash equivalents.
Future Outlook and Strategic Initiatives
Orion Energy Systems continues to focus on expanding its market presence in the EV segment, which has shown significant growth potential. The company aims to leverage its technological capabilities to enhance customer engagement and drive revenue growth.
How Orion Energy Systems, Inc. (OESX) Works
Business Model
Orion Energy Systems, Inc. operates in three main segments: Lighting, Maintenance, and Electric Vehicle (EV) Charging. The company focuses on providing energy-efficient lighting solutions and related services, including installation and maintenance.
Financial Performance
For the six months ended September 30, 2024, Orion reported total revenue of $39.267 million, compared to $38.199 million for the same period in 2023, reflecting an increase of 2.8% year-over-year.
| Segment | Revenue (in thousands) | Operating Loss (in thousands) | Operating Margin (%) |
|---|---|---|---|
| Lighting | $23,591 | $(2,487) | (10.5) |
| Maintenance | $7,120 | $(1,328) | (18.6) |
| Electric Vehicle Charging | $8,556 | $(835) | (9.8) |
Revenue Breakdown
For the three months ended September 30, 2024, the revenue breakdown was:
| Category | Revenue (in thousands) |
|---|---|
| Product Revenue | $12,367 |
| Service Revenue | $6,994 |
| Total Revenue | $19,361 |
Cost and Gross Margin
The total cost of revenue for the six months ended September 30, 2024, was $30.496 million, leading to a gross profit of $8.771 million. The gross margin was approximately 22.3% compared to 20.3% for the previous year.
Operating Expenses
Operating expenses for the six months ended September 30, 2024, totaled $15.475 million, down from $18.305 million in the previous year.
| Expense Type | Amount (in thousands) | Percentage Change (%) |
|---|---|---|
| General and Administrative | $9,098 | (15.6) |
| Sales and Marketing | $5,785 | (12.5) |
| Research and Development | $592 | (31.3) |
Net Loss
Orion reported a net loss of $7.383 million for the six months ended September 30, 2024, compared to a net loss of $11.025 million for the same period in 2023, marking a decrease of 33.0%.
Cash Flow Statement
For the six months ended September 30, 2024, Orion's cash flow from operating activities was $(2,464) million, and net cash provided by financing activities was $2,523 million.
| Cash Flow Activity | Amount (in thousands) |
|---|---|
| Net Cash Used in Operating Activities | $(2,464) |
| Net Cash Provided by Investing Activities | $155 |
| Net Cash Provided by Financing Activities | $2,523 |
Assets and Liabilities
As of September 30, 2024, Orion reported total assets of $56.272 million and total liabilities of $40.469 million, resulting in total shareholders' equity of $15.803 million.
| Asset/Liability Type | Amount (in thousands) |
|---|---|
| Total Assets | $56,272 |
| Total Liabilities | $40,469 |
| Total Shareholders' Equity | $15,803 |
Market Trends and Outlook
Orion is focusing on expanding its EV Charging segment, which saw revenue growth of 85.7% year-over-year. The company aims to leverage increasing demand for electric vehicle infrastructure as part of its growth strategy moving forward.
How Orion Energy Systems, Inc. (OESX) Makes Money
Revenue Streams
Orion Energy Systems, Inc. generates revenue through several key segments:
- Sales of manufactured or sourced commercial lighting fixtures and components.
- Installation services for lighting and electric vehicle (EV) charging products.
- Maintenance services including repairs and replacements for lighting and electrical components.
- Sales of electric vehicle chargers and related products, including software subscriptions and warranties.
Financial Performance Overview
For the three months ended September 30, 2024, Orion reported the following revenue breakdown (in thousands):
| Segment | Product Revenue | Service Revenue | Total Revenue |
|---|---|---|---|
| Lighting Product and Installation | $9,301 | $1,297 | $10,598 |
| Maintenance Services | $1,123 | $2,674 | $3,797 |
| Electric Vehicle Charging | $1,702 | $3,023 | $4,725 |
| Solar Energy Related Revenues | $2 | $0 | $2 |
| Total | $12,128 | $6,994 | $19,122 |
For the six months ended September 30, 2024, the total revenue was $39,267, with product revenue of $25,134 and service revenue of $14,133.
Cost of Revenue
The cost of revenue for the three months ended September 30, 2024, included:
| Segment | Cost of Product Revenue | Cost of Service Revenue | Total Cost |
|---|---|---|---|
| Lighting | $8,888 | $6,001 | $14,889 |
| Maintenance | $1,123 | $2,674 | $3,797 |
| Electric Vehicle Charging | $1,702 | $3,023 | $4,725 |
| Total | $11,713 | $11,698 | $23,411 |
This resulted in a gross profit of $4,472 for the quarter.
Operating Expenses
Operating expenses for the three months ended September 30, 2024, were as follows:
| Type | Amount (in thousands) |
|---|---|
| General and Administrative | $4,568 |
| Sales and Marketing | $2,848 |
| Research and Development | $328 |
| Total Operating Expenses | $7,744 |
The operating loss for the same period was $(3,272).
Net Loss and Shareholder Data
Orion reported a net loss of $(3,625) for the three months ended September 30, 2024. The basic net loss per share attributable to common shareholders was $(0.11).
As of September 30, 2024, the weighted-average common shares outstanding were 32,825,477.
Segment Performance
For the six months ended September 30, 2024, the performance of key segments was as follows:
| Segment | Revenue (in thousands) | Operating Loss (in thousands) |
|---|---|---|
| Lighting Segment | $23,591 | $(2,487) |
| Maintenance Segment | $7,120 | $(1,328) |
| Electric Vehicle Charging Segment | $8,556 | $(835) |
| Total | $39,267 | $(6,704) |
The total revenue increased by 2.8% compared to the same period in the previous year.
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Resources:
- Orion Energy Systems, Inc. (OESX) Financial Statements – Access the full quarterly financial statements for Q2 2024 to get an in-depth view of Orion Energy Systems, Inc. (OESX)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Orion Energy Systems, Inc. (OESX)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.