LED Lighting and EV Charging Solutions Provider Orion Previews FY 2024 Results in Anticipation of its Singular Research Webinar Presentation Wed. May 22 at 3pm ET

MANITOWOC, Wis., May 16, 2024 (GLOBE NEWSWIRE) — Orion Energy Systems, Inc. (NASDAQ: NASDAQ:) (Orion Lighting), a provider of energy-efficient LED lighting, electric vehicle (EV) charging stations, and maintenance service solutions, announced preliminary, unaudited results for its fiscal 2024 fourth quarter and full year ended March 31, 2024 in anticipation of its presentation at Singular Research’s Spring Select Webinar, Wednesday, May 22nd at 3:00 p.m. All investors are invited to participate in the webinar at no cost. Registration and meeting details are below.

CEO Mike Jenkins and CFO Per Brodin will provide an overview presentation for the Singular Research webinar, followed by an investor Q&A session. Management will also be available for virtual investor meetings. Please contact your Singular representative or OESX@catalyst-ir.com to arrange a virtual meeting.

Orion plans to report its fiscal 2024 results and hold a conference call on Thursday, June 6th at 10.00 a.m. ET; call details will be announced in advance.

Q4’24 and FY 2024 PreviewOrion reported preliminary Q4’24 revenue of approximately $26.4M, an increase of approximately 22% over Q4’23 revenue of $21.6M. Orion also reported a preliminary FY 2024 revenue of approximately $90.6M, representing an approximate 17% increase over FY 2023 revenue of $77.4M.

• LED lighting revenue increased to approximately $16.3M in Q4’24 vs. $14.4M in Q4’23, driven by increased turnkey LED retrofit activity, including a U.S. Department of Defense project in Europe.
• EV charging solutions revenue rose to approximately $4.9M in Q4’24 vs. $3.4M in Q4’23, reflecting an expanding base of project activity supported by growth in the EV team and its geographic scope.
• Maintenance services revenue rose to approximately $5.2M in Q4’24 compared to $3.7M in Q4’23, principally reflecting a new three-year agreement to provide preventative lighting maintenance services for a customer’s approximately 2,000 retail locations.
• Orion expects to report slightly positive adjusted EBITDA in Q4’24 compared to negative adjusted EBITDA in Q4’23.

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