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ORION ENERGY SYSTEMS, INC. (OESX) Create: Alert

All | News | Filings
Date FiledTypeDescription
08/11/2023 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements...
08/09/2023 8-K Results of Operations and Financial Condition, Financial Statements and Exhibits  Interactive Data
Docs: "LED Lighting, Maintenance and EV Charging Solutions Provider Orion Reports Q1’24 Revenue of $17.6M; Maintains 30% Revenue Growth Outlook for FY 2024 Manitowoc, WI – August 9, 2023 – Orion Energy Systems, Inc. , a provider of energy-efficient LED lighting, maintenance services and electric vehicle charging station solutions, today reported results for its fiscal 2024 first quarter ended June 30, 2023. Orion will hold an investor call today at 10:00 a.m. ET – details below. Q1 Financial Summary Prior Three Quarters $ in millions except per share figures Q1’24 Q1’23 Change Q4’23 Q3'23 Q2’23 Revenue $17.6 $17.9 $21.6 $20.3 $17.6 Gross Profit $3.2 $3.6 $4.7 $4.8 $4.4 Gross Profit % 18.0% 19.8% 21.9% 23.6% 25.3% Net Loss Net Loss per share Adjusted EBITDA Cash & Equivalents $8.2 $9.4 $1..."
03/09/2023 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements...
Docs: "UNITED STATES SECURITIES AND EXCHANGE COMMISSION",
"ORION ENERGY SYSTEMS, INC. ADDS RICHARD A. SHAPIRO TO BOARD OF DIRECTORS MANITOWOC, WI - March 9, 2023: Orion Energy Systems, Inc. , a provider of energy-efficient LED lighting and controls, maintenance services and electric vehicle charging station solutions, announced today that it has appointed Richard A. Shapiro to its board of directors effective immediately. Mr. Shapiro is the Founder and Chief Investment Officer of Ridge Run Partners, LLC, a family office firm. Previously, Mr. Shapiro served as Portfolio Manager at Millennium Management, a multi-billion dollar hedge fund, where he was focused on equity investments, from 2020 to 2021, and, earlier in his career at Millennium, from 2007 to 2011. From 2011 to 2020, Mr. Shapiro was at Wexford Capital, where he was Portfolio Manager and ..."
02/09/2023 8-K Results of Operations and Financial Condition, Financial Statements and Exhibits  Interactive Data
Docs: "Orion Energy Systems Reports Q3 Revenue of $20.3M; Reiterates FY’24 Outlook for 30% Revenue Growth Manitowoc, WI – February 9, 2023 – Orion Energy Systems, Inc. , a provider of energy-efficient LED lighting and controls, maintenance services and electric vehicle charging station solutions, today reported results for its fiscal 2023 third quarter ended December 31, 2022 . Orion will hold an investor call today at 10:00 a.m. ET ; online pre-registration required to receive the call dial-in information. Q3 Financial Summary Prior Three Quarters $ in millions except per share figures Q3’23 Q3’22 Change Q2’23 Q1’23 Q4’22 Revenue $20.3 $30.7 $17.6 $17.9 $22.1 Gross Profit $4.8 $7.6 $4.4 $3.6 $5.3 Gross Profit % 23.6% 24.9% 25.3% 19.8% 23.8% Net Income $1.1 EPS $0.04 Adjusted EBITDA $2.1 ..."
01/30/2023 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements...
01/23/2023 8-K Results of Operations and Financial Condition, Financial Statements and Exhibits  Interactive Data
Docs: "Orion Energy Systems Previews Preliminary FY 2023 Q3 Results, Updates FY 2023 Revenue Outlook and Provides Initial FY 2024 Revenue Growth Rate Expectation Manitowoc, WI – January 23, 2023 - Orion Energy Systems, Inc. , a provider of energy-efficient LED lighting and controls, maintenance services and electric vehicle charging station solutions, today announced preliminary results for its fiscal third quarter ended December 31, 2022 and updated its revenue outlook for the full fiscal year 2023 ending on March 31, 2023. Orion plans to report final Q3’23 results on Thursday, February 9th and to host an investor call that day at 10:00 a.m. ET; details of the call will be announced separately. Orion’s Q3’23 preliminary results reflect the continuation of delays in the initiation of certain larg..."
01/04/2023 8-K Entry into a Material Definitive Agreement, Departure of Directors or Certain Officers; Election of Directors; Appointment of...
Docs: "[The remainder of this page intentionally left blank] IN WITNESS WHEREOF, this Agreement has been duly executed and delivered by the duly authorized signatories of the Parties as of the date hereof. ORION ENERGY SYSTEMS, INC. By: /s/ Michael H. Jenkins Name: Michael H. Jenkins Title: President and Chief Executive Officer KANEN WEALTH MANAGEMENT, LLC By: /s/ David L. Kanen Name: David L. Kanen Title: Managing Member PHILOTIMO FUND, LP By: Kanen Wealth Management, LLC, its general partner By: /s/ David L. Kanen Name: David L. Kanen Title: Managing Member /s/ David L. Kanen David L. Kanen /s/ Charles McDulin Charles McDulin KANEN WEALTH MANAGEMENT, LLC PHILOTIMO FUND, LP David L. Kanen ORION ADDS CHARLES MCDULIN TO BOARD OF DIRECTORS MANITOWOC, WI – January 3, 2023: Orion Energy Systems, Inc....",
"ORION ADDS CHARLES MCDULIN TO BOARD OF DIRECTORS MANITOWOC, WI – January 4, 2023 - Orion Energy Systems, Inc. , a provider of energy-efficient LED lighting and controls, maintenance services and electric vehicle charging station solutions announced today that it has increased the size of the board to six members and appointed Charles McDulin to its board of directors effective immediately. Mr. McDulin is an investment analyst at Philotimo Fund, LP, a hedge fund focused on small-cap value and affiliated with Kanen Wealth Management, LLC. Kanen Wealth Management owns approximately 5.3% of Orion’s outstanding common stock. “We are pleased that Charles is joining our board of directors as a representative of one of our significant investors. Since Charles works for Kanen Wealth Manageme..."
11/14/2022 8-K Quarterly results
11/08/2022 8-K Results of Operations and Financial Condition, Financial Statements and Exhibits  Interactive Data
Docs: "of 25.3% and Reiterates FY’23 Revenue Outlook of $90M to $110M Manitowoc, WI – November 8, 2022 – Orion Energy Systems, Inc. , a provider of energy-efficient LED lighting and controls, maintenance services and electrical vehicle charging station solutions, today reported results for its fiscal 2023 second quarter ended September 30, 2022 . Orion will hold an investor call today at 10:00 a.m. ET ; online pre-registration required to receive the call dial-in information. Q2 Financial Summary Prior Three Quarters $ in millions except per share figures Q2’23 Q2’22 Change Q1’23 Q4’22 Q3'22 Revenue $17.6 $36.5 $17.9 $22.1 $30.7 Gross Profit $4.4 $10.8 $3.6 $5.3 $7.6 Gross Profit % 25.3% 29.5% 19.8% 23.8% 24.9% Net Income $3.7 $1.1 EPS $0.12 $0.04 Adjusted EBITDA $4.0 $2.1 Cash & Equivalents ..."
08/08/2022 8-K Quarterly results
08/03/2022 8-K Results of Operations and Financial Condition, Departure of Directors or Certain Officers; Election of Directors; Appointment...
Docs: "UNITED STATES SECURITIES AND EXCHANGE COMMISSION",
"MICHAEL W. ALTSCHAEFL VOLUNTARY RETIREMENT AND CONSULTING AGREEMENT",
"AMENDED EXECUTIVE EMPLOYMENT AND SEVERANCE AGREEMENT",
"ALAN HOWE CONSULTING AGREEMENT THIS CONSULTING AGREEMENT is made and effective as of August 4, 2022 , by and between Orion Energy Systems, Inc. and Alan Howe . W I T N E S S E T H :",
"Orion Energy Systems Announces CEO Transition Plan - Mike Altschaefl to Retire as CEO on November 10, 2022; EVP and COO Mike Jenkins Named as New CEO Manitowoc, WI — August 3, 2022—Orion Energy Systems, Inc. , a provider of energy-efficient LED lighting and control systems, including turnkey project implementation, program management and system maintenance, today announced that Michael H. Jenkins, the Company's Executive Vice President and Chief Operating Officer, will assume the role of Chief Executive Officer following the retirement of Mike Altschaefl, Orion's Board Chair and CEO, effective November 10, 2022. Mr. Jenkins will also join Orion's Board, effective November 10 th , to serve an initial term through the Company's 2023 annual meeting. Mike Jenkins is an accomplished executive l...",
"Orion Energy Systems Reports Q1 Revenue of $17.9M, Reflecting Customer Delays on Large LED Lighting Projects Manitowoc, WI - August 3, 2022 - Orion Energy Systems, Inc. , a provider of energy-efficient LED lighting and control systems and electrical maintenance services, today reported results for its fiscal 2023 first quarter ended June 30, 2022 . Orion also announced separately today its CEO Transition Plan. Orion will hold an investor call and webcast to review these announcements today at 10:00 a.m. ET - online pre-registration is required to receive the call-in number, details below. Q1 Financial Summary Prior Three Quarters $ in millions except per share figures Q1'23 Q1'22 Change Q4'22 Q3'22 Q2'22 Revenue $ 17.9 $ 35.1 $ 22.1 $ 30.7 $ 36.5 Gross Profit $ 3.6 $ 10.2 $ 5.3 $ 7.6 $ 10...."
06/07/2022 8-K Quarterly results
05/23/2022 8-K Quarterly results
02/22/2022 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements...
Docs: "UNITED STATES SECURITIES AND EXCHANGE COMMISSION",
"AMENDMENT TO AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AND SEVERANCE AGREEMENT THIS AMENDMENT is made as of February 21, 2022 but is effective as of the third business day after the Company publicly announces its fiscal 2022 fourth quarter and annual earnings results , by and between Orion Energy Systems, Inc. , and Michael W. Altschaefl . Orion and Executive are hereinafter collectively referred to as the “ Parties .” RECITALS",
"RESTRICTED STOCK AWARD AGREEMENT",
"Orion Energy Systems to Make Investor-Friendly Changes to Certain Executive Compensation Plans Manitowoc, WI - February 22, 2022 - Orion Energy Systems, Inc. , a provider of energy-efficient LED lighting, control and IoT systems, including turnkey project implementation, program management and system maintenance, today announced that the Compensation Committee of its Board of Directors, after careful consideration, has determined to make certain investor-friendly changes to some of its executive compensation plans. Specifically, Orion and its Chief Executive Officer and Board Chair, Mike Altschaefl, agreed to amend Mr. Altschaefl's so-called “single-trigger” change in control severance arrangement to a so-called “double-trigger” arrangement. Also, Orion's Compensation Committee has decided..."
02/09/2022 8-K Quarterly results
01/18/2022 8-K Results of Operations and Financial Condition, Financial Statements and Exhibits  Interactive Data
Docs: "UNITED STATES SECURITIES AND EXCHANGE COMMISSION",
"Orion Energy Systems Preliminarily Expects Q3'22 Revenue of Approximately $30.5M, Reduces FY 2022 Revenue Outlook to $130M and Holds Investor Call Today at 5:00pm ET"
01/05/2022 8-K Regulation FD Disclosure, Other Events, Financial Statements and Exhibits  Interactive Data
Docs: "Addition of business to accelerate the growth of Orion Maintenance Services"
11/09/2021 8-K Results of Operations and Financial Condition, Financial Statements and Exhibits  Interactive Data
Docs: "Orion Energy Systems Q2’22 Revenue Rose Sequentially and Year-over-Year to $36.5M, Driven Principally by National Account LED Lighting Retrofit Projects"
11/04/2021 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements...
Docs: "UNITED STATES SECURITIES AND EXCHANGE COMMISSION",
"EXECUTIVE EMPLOYMENT AND SEVERANCE AGREEMENT",
"Orion Energy Systems Expands Senior Leadership Team, Appointing Michael H. Jenkins as Chief Operating Officer Manitowoc, WI - November 4, 2021 - Orion Energy Systems, Inc. , a provider of energy-efficient LED lighting, controls and IoT systems, including turnkey project implementation, program management and system maintenance, today announced the expansion of its executive management team with the appointment of Michael H. Jenkins as Chief Operating Officer to support the Company's long-term growth objectives. Mr. Jenkins, an accomplished executive and business leader with a strong track record of business and financial achievement, will assume Orion's COO role from Scott Green. Mr. Green is being promoted to President of Orion Services Group, which encompasses the Company's turnkey light..."
08/06/2021 8-K Submission of Matters to a Vote of Security Holders  Interactive Data
08/04/2021 8-K Results of Operations and Financial Condition, Financial Statements and Exhibits  Interactive Data
Docs: "LED Lighting & Energy Systems Provider Orion Q1’22 Revenue and Gross Margin Rose to $35.1M and 29.1%, Respectively, and Q1’22 Net Income Rose to $2.5M, or $0.08 Per Share; Holds Investor Call Today at 10:00 am ET"
06/15/2021 8-K Quarterly results
06/01/2021 8-K Quarterly results
04/21/2021 8-K Quarterly results
03/26/2021 8-K Quarterly results
02/19/2021 8-K Quarterly results
02/11/2021 8-K Quarterly results
01/05/2021 8-K Quarterly results
11/05/2020 8-K Results of Operations and Financial Condition, Financial Statements and Exhibits
Docs: "Six Months Ended September 30, 2020 2019 Operating activities Net income $ $ 10,689 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 587 610 Amortization of intangible assets 152 188 Stock-based compensation 459 330 Amortization of debt issue costs 122 121 Impairment of intangible assets — 3 Loss on sale of property and equipment 6 — Provision for inventory reserves 112 119 Other 4 23 Changes in operating assets and liabilities: Accounts receivable, current and long-term Revenue earned but not billed Inventories Prepaid expenses and other assets 206 10 Accounts payable 12,654 Accrued expenses and other 3,058 749 Deferred revenue, current and long-term 72 Net cash provided by operating activities 8,449 Investing activities Purchases of proper..."
10/15/2020 8-K Quarterly results
09/23/2020 8-K Quarterly results
08/07/2020 8-K Quarterly results
08/05/2020 8-K Quarterly results
06/04/2020 8-K Results of Operations and Financial Condition, Financial Statements and Exhibits
Docs: "Fiscal Year Ended March 31, 2020 2019 Operating activities Net income $ 12,462 $ Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 1,203 1,339 Amortization of intangible assets 359 444 Stock-based compensation 618 825 Amortization of debt issue costs 243 101 Provision for inventory reserves 205 Provision for bad debts — 56 Other 57 57 Changes in operating assets and liabilities: Accounts receivable 3,616 Revenue earned but not billed 3,186 Inventories Prepaid expenses and other current assets 66 68 Accounts payable 8,916 Accrued expenses and other 1,975 Deferred revenue, current and long-term Net cash provided by operating activities 20,343 Investing activities Purchase of property and equipment Additions to patents and licenses Proceeds fro..."
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