Orion Energy Systems reported a 32% year-over-year increase in revenue for the first quarter of fiscal 2027, reaching $25.7 million. The Wisconsin-based manufacturer, which trades under the ticker OESX on the NASDAQ, posted net income of $2 million, a reversal from a $1.2 million loss in the same period a year earlier.
Adjusted EBITDA rose to $2.5 million from $200,000 in the prior-year quarter, marking the seventh consecutive quarter of positive adjusted EBITDA. Gross margin expanded to 34.6%, up 15 percentage points from the year-ago period. The company also raised its full-year fiscal 2027 revenue guidance to a range of $95 million to $97 million, with management expressing confidence in achieving the midpoint of approximately $96 million.
Growth was driven by factory reshoring and refurbishment projects, vehicle fleet electrification across private and public sectors, and demand from data centers supporting artificial intelligence infrastructure. Orion secured a multimillion-dollar engagement with a major hyperscale customer in the data center market, utilizing a newly expanded lighting fixture designed for rapid deployment. The company also launched battery energy storage solutions deployed across 10 California facilities for an existing major customer, with further expansion planned.
Additional initiatives included the introduction of a new LED roadway lighting product manufactured in Manitowoc, Wisconsin, targeting municipal and state contracts. Orion expanded its service offerings to include electrical contracting and increased focus on EV charging infrastructure sales, led by newly appointed executive Karen Peck. Sales growth is reported across turnkey solutions, distribution channels, and energy service company (ESCO) channels.
Orion’s stock has delivered a 203% return over the past year, trading at $18.62 with a market capitalization of $76 million. The company maintains a current ratio of 1.54.
