Orion Energy Systems Files Q3 2024 10-Q

TL;DR

OESX Q3 24 10-Q filed. Financials for lighting, solar, services detailed.

AI Summary

Orion Energy Systems, Inc. filed its 10-Q for the period ending December 31, 2024. The company reported on its financial performance across various segments including lighting products, solar energy, and maintenance services. Specific financial figures and operational details for the quarter and year-to-date are detailed within the filing.

Why It Matters

This filing provides investors with the latest financial performance data for Orion Energy Systems, Inc., crucial for understanding the company's current operational health and future prospects.

Risk Assessment

Risk Level: medium — The filing is a routine quarterly report, but the company operates in competitive markets and its financial performance can be subject to fluctuations.

Key Players & Entities

• ORION ENERGY SYSTEMS, INC. (company) — Filer
• 20241231 (date) — Period of Report
• 20250211 (date) — Filing Date
• MANITOWOC, WI (location) — Company Headquarters

FAQ

Key Financial Figures

• $1.00 — st have a closing bid price of at least $1.00 per share for a minimum of 10 consecuti
• $0.1 million — fulfilled the promises included. Of the $0.1 million outstanding as of March 31, 2024, $0.1

Filing Documents

• oesx-20241231.htm (10-Q) — 2631KB
• oesx-ex31_1.htm (EX-31.1) — 14KB
• oesx-ex31_2.htm (EX-31.2) — 13KB
• oesx-ex32_1.htm (EX-32.1) — 8KB
• oesx-ex32_2.htm (EX-32.2) — 8KB
• 0000950170-25-017947.txt ( ) — 11113KB
• oesx-20241231.xsd (EX-101.SCH) — 1289KB
• oesx-20241231_htm.xml (XML) — 2547KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION 3 ITEM 1.

Financial Statements (unaudited)

Financial Statements (unaudited) 3 Condensed Consolidated Balance Sheets as of December 31, 2024 and March 31, 2024 3 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended December 31, 2024 and December 31, 2023 4 Condensed Consolidated Statements of Shareholders' Equity for the Three and Nine Months Ended December 31, 2024 and December 31, 2023 5 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended December 31, 2024 and December 31, 2023 6 Notes to the Condensed Consolidated Financial Statements 7 ITEM 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 ITEM 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 30 ITEM 4.

Controls and Procedures

Controls and Procedures 30

OTHER INFORMATION

PART II OTHER INFORMATION 31 ITEM 1.

Legal Proceedings

Legal Proceedings 31 ITEM 1A.

Risk Factors

Risk Factors 31 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 31 ITEM 5. Other Information 31 ITEM 6. Exhibits 32 SIGNATURE 33

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL S TATEMENTS

ITEM 1. FINANCIAL S TATEMENTS ORIO N ENERGY SYSTEMS, INC. AND SUBSIDIARIES UNAUDITED CONDENSED CONS OLIDATED BALANCE SHEETS (in thousands, except share amounts) December 31, 2024 March 31, 2024 Assets Cash and cash equivalents $ 7,497 $ 5,155 Accounts receivable, net 12,234 14,022 Revenue earned but not billed 2,186 4,539 Inventories 13,473 18,246 Prepaid expenses and other current assets 1,728 2,860 Total current assets 37,118 44,822 Property and equipment, net 8,403 9,593 Goodwill 1,484 1,484 Other intangible assets, net 3,715 4,462 Other long-term assets 1,993 2,808 Total assets $ 52,713 $ 63,169 Liabilities and Shareholders' Equity Accounts payable $ 13,412 $ 18,350 Accrued expenses and other 12,530 9,440 Deferred revenue, current 287 260 Current maturities of long-term debt 353 3 Total current liabilities 26,582 28,053 Revolving credit facility 7,500 10,000 Long-term debt, less current maturities 3,059 — Deferred revenue, long-term 356 413 Other long-term liabilities 741 2,161 Total liabilities 38,238 40,627 Commitments and contingencies Shareholders' equity: Preferred stock, $ 0.01 par value: Shares authorized: 30,000,000 at December 31, 2024 and March 31, 2024; no shares issued and outstanding at December 31, 2024 and March 31, 2024 — — Common stock, no par value: Shares authorized: 200,000,000 at December 31, 2024 and March 31, 2024; shares issued: 42,409,937 at December 31, 2024 and 42,038,967 at March 31, 2024; shares outstanding: 32,939,922 at December 31, 2024 and 32,567,746 at March 31, 2024 — — Additional paid-in capital 162,691 161,869 Treasury stock, common shares: 9,470,015 at December 31, 2024 and 9,471,221 at March 31, 2024 ( 36,233 ) ( 36,235 ) Retained deficit ( 111,983 ) ( 103,092 ) Total shareholders' equity 14,475 22,542 Total liabilities an

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View this 10-Q filing on SEC EDGAR