Orion Energy Systems, Inc. Company Analysis & Research
Orion Energy Systems researches, designs, develops, manufactures, markets, sells, installs, and implements energy management systems for commercial office and retail, area lighting, industrial applications, and government in North America and Germany. The company provides energy-efficient LED lighting systems and turnkey project implementation including installation and commissioning of fixtures, controls and IoT systems, as well as ongoing system maintenance and program management.
The company operates through three segments: Lighting, Maintenance, and Electric Vehicle (EV). Orion has completed more than 25,000 projects, primarily focused on commercial and industrial retrofit applications across both interior and exterior environments. The company operates a 266,000-square-foot manufacturing facility in Manitowoc, Wisconsin, supporting Buy American Act (BAA) and Build America, Buy America (BABA) compliance requirements.
Company Overview
Founded: 1996. Headquarters: Manitowoc, US. Revenue: $79.7M. Employees: 182. Market Cap: $54.4M. Ticker: OESX (NASDAQ).
Industry
Electrical Equipment & Parts / Clean Energy Solutions
Cyborg Score: 6/10 — Solid
Diversified clean-tech provider with strong manufacturing capabilities and recurring maintenance revenue expanding into EV charging and battery storage markets.
Orion reported improvement in gross margin and profitability in Q2 2026, reiterating FY 2026 outlook. However, in 2024, revenue was $79.72 million (a decline of 11.99% from 2023), with losses of $11.80 million. The company is navigating revenue headwinds but showing operational improvements.
Key Strategic Insights for Orion Energy Systems, Inc.
- Orion announced a rollout of battery energy storage systems (BESS) at initial three sites in California, with expansion to more than 10 sites within the broader project and approximately 10 sites potentially completed over the next nine months.
- Orion has more than 7,300 charging ports under management and is a preferred contractor for ABB, ChargePoint, and In-Charge Energy.
- Orion has removed $6.5 million in costs over the past year and held gross margin near the 30% level.
- The company is guiding within the mid-nineties for fiscal 2027 revenue.
Recent Developments
- (March 2026) CEO Sally Washlow presented EV charging, battery storage, and $45M maintenance renewal contracts at conference
- (February 2026) Company expanded BESS (battery energy storage systems) pilot program in California with 10+ projected sites
- (November 2025) Q2 FY2026 earnings showed improvement in gross margin and profitability with positive FY2026 outlook reiterated
Competitors & Competitive Landscape
- Eaton Corporation / Signify — Large diversified industrial lighting and energy solutions
- ChargePoint / ABB — Major EV charging station providers (Orion is reseller/partner)
- Littelfuse / Acuity Brands — Industrial lighting and controls providers
Orion competes in the commercial LED lighting retrofit and EV charging infrastructure markets. Key competitors include larger diversified industrials and specialized lighting/energy efficiency providers. Orion's domestic manufacturing enables delivery within four to six months compared with longer lead times elsewhere in the market.
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