Orion Energy Systems raised its fiscal 2027 revenue outlook to $100 million to $102 million from $95 million to $97 million after a longtime retailer committed to an additional program estimated at $10 million to $15 million. The work covers interior LED lighting retrofits and Internet of Things installations at locations the company has not previously retrofitted, and the revised forecast already incorporates the program, lifting the midpoint by $5 million, or approximately 5.2%, for the fiscal year ending March 31, 2027. The company expects the commitment to be fulfilled through individual purchase orders with uncertain timing, and a significant majority of project revenue is expected in the fiscal second half, while management still expects fiscal second-quarter revenue to decline sequentially from the first quarter's $25.7 million. The new work arrives alongside improving profitability, with fiscal first-quarter revenue of $25.7 million and net income of $2.0 million versus a $1.2 million loss a year earlier, as gross margin rose to 34.6% from 30.1% and a favorable net tariff effect cut cost of goods sold by approximately $0.3 million. Insider Monkey's database showed 3 hedge funds holding Orion Energy Systems at the end of 2Q2026, down from 5 funds three months earlier, based on filings reflecting positions held before the announcement.
Orion Energy Systems IncLongtime retailer committed to an additional $10-15M LED retrofit and IoT program, lifting fiscal 2027 revenue guidance.
