Orion(US:OESX) Newsfilterยท2024-05-16 12:05Core Viewpoint - Orion Energy Systems, Inc. reported preliminary unaudited results for Q4 and FY 2024, indicating significant revenue growth driven by increased demand for energy-efficient solutions [1][3]. Financial Performance - Preliminary Q4 2024 revenue was approximately $26.4 million, a 22% increase from Q4 2023 revenue of $21.6 million [3]. - Preliminary FY 2024 revenue reached approximately $90.6 million, representing a 17% increase over FY 2023 revenue of $77.4 million [3]. - LED lighting revenue in Q4 2024 was approximately $16.3 million, up from $14.4 million in Q4 2023, attributed to increased turnkey LED retrofit activity [7]. - Revenue from EV charging solutions rose to approximately $4.9 million in Q4 2024, compared to $3.4 million in Q4 2023, reflecting growth in project activity [7]. - Maintenance services revenue increased to approximately $5.2 million in Q4 2024 from $3.7 million in Q4 2023, driven by a new three-year agreement for preventative maintenance services [7]. - The company expects to report slightly positive adjusted EBITDA in Q4 2024, contrasting with negative adjusted EBITDA in Q4 2023 [7]. Upcoming Events - Orion will present at Singular Research's Spring Select Webinar on May 22, 2024, at 3:00 p.m. ET, followed by an investor Q&A session [2][4]. - The company plans to report its fiscal 2024 results and hold a conference call on June 6, 2024, at 10:00 a.m. ET [2]. Company Overview - Orion Energy Systems specializes in energy efficiency and clean tech solutions, including LED lighting, EV charging solutions, and maintenance services [5]. - The company focuses on providing turnkey design-through-installation solutions for large national customers and projects through ESCO and distribution partners [5]. - Orion is committed to helping customers achieve business and environmental goals while reducing their carbon footprint [5].