Orion Energy Systems reports 32% revenue growth and returns to profit in Q1

Orion Energy Systems (NASDAQ: OESX) posted its strongest quarterly performance in recent memory, reporting revenue of $25.7 million for the fiscal 2027 first quarter, a 32 % increase from $19.6 million a year earlier. Gross margin rose to 34.6 %, up 450 basis points, and the company posted a net income of $2.0 million, reversing a $1.2 million loss in the comparable prior‑year quarter. Adjusted EBITDA reached $2.5 million, marking the seventh consecutive quarter of positive adjusted EBITDA.

The LED lighting segment led growth, with revenue up 37 % to $17.7 million, while EV‑charging revenue climbed to $4.0 million despite a “lumpy” project pipeline. Maintenance services grew modestly, up 2 % to $4.1 million. CEO Sally Washlow said the results reflect a shift toward disciplined, profitable growth rather than pure top‑line expansion.

The company, based in Manitowoc, Wisconsin, also highlighted its focus on large‑scale lighting projects and continued investment in EV‑charging infrastructure, though it noted ongoing uncertainty around project timing and funding availability nationwide.