OESX

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Orion Reports 9% Revenue Increase in Second Quarter FY2027;

Reiterates Revenue Expectation of $100M-$102M for Full Fiscal Year

Manitowoc, WI – November 5, 2026 – Orion Energy Systems, Inc. (NASDAQ: OESX) (Orion Lighting), a provider of energy-efficient LED lighting, electric vehicle (EV) charging stations and maintenance services solutions, today reported results for its fiscal 2027 second quarter (Q2’27) ended September 30, 2026.

Orion’s Q2’27 revenue increased to $21.7M versus $19.9M in Q2’26, while Q2’27 gross margin was 28.7% versus 31.0% in Q2’26. The Company reported a net loss of $0.8M in Q2’27, compared to a net loss of $0.6M in Q2’26. The Company’s adjusted EBITDA was positive in Q2 FY’27 — marking its eighth consecutive quarter of positive adjusted EBITDA.

Orion reiterated its previously increased full fiscal year expectations of positive adjusted EBITDA on revenue of between $100 million and $102 million in FY’27, which began April 1, 2026.

The Company noted that it expects a strong second half, with significant projects to be delivered in the third and fourth quarters. These orders are coming from a broad array of customers and include retailers, manufacturers, logistics providers, data centers and government projects.

“Orion enters the second half of FY’27 accelerating our initiatives to achieve diversified growth, sustainable margins and market expansion,” said Orion’s Chief Executive Officer, Sally Washlow. “Whether it’s rapidly growing engagements with major retail chains and logistics leaders, more and more campuses for hyper-scale data-center operators or expanding incumbencies with global automakers, Orion continues on a trajectory to achieve our profitable growth expectations for the current fiscal year.”

Orion is scheduled to discuss these results in an investor call today at 10:00 a.m. ET (details below).

Webcast and Call Details

Date / Time: Thursday, November 5, 2026, at 10:00 a.m. ET

Live Call Registration: https://register-conf.media-server.com/register/BId664f6fcc4d548fabdfb92d50077908e

Live call participants must pre-register using the URL above to receive the dial-in information. Anyone can re-register if they lose the dial-in or PIN #.

Webcast & Replay: https://register-conf.media-server.com/register/BId664f6fcc4d548fabdfb92d50077908e

Q2'27 and Prior Three Quarters Financial Performance

Q2 Financial Summary

Prior Three Quarters

$ in millions except per share figures

Q2’27

Q2’26

Change

Q1'27

Q4’26

Q3'26

LED Lighting Revenue

$14.9

$10.7

40%

$17.7

$20.3

$12.1

EV Charging Revenue

$2.8

$4.8

-41%

$4.0

$2.3

$4.7

Maintenance Revenue

$4.0

$4.5

-12%

$4.1

$3.2

$4.4

Total Revenue

$21.7

$19.9

9%

$25.7

$25.7

$21.1

Gross Profit

$6.2

$6.2

1%

$8.9

$9.5

$6.5

Gross Profit %

28.7%

31.0%

-230 bps

34.6%

37.0%

30.9%

Net Income (Loss) (1)(2)(3)(4)

$(0.8)

$(0.6)

$(0.2)

$2.0

$(1.5)

$0.2

Net Income (Loss) per share (1)(2)(3)(4)

$(0.20)

$(0.17)

$(0.03)

$0.47

$(0.39)

$0.04

Adjusted EBITDA (5)

$0.0

$0.5

$(0.4)

$2.5

$0.8

$0.8

(1) Voltrek earnout accrual and net adjustments was $1.7M in Q4'26.

(2) Q4'26 included $1.1M of expenses for the non-cash write-off of solar assets.

(3) Q4'26 revenue included $1.3M associated with amending a solar energy contract that had no associated costs of goods.

(4) The net effect of tariffs for Q1'27 decreased costs of goods by approximately $0.3M.

(5) Adjusted EBITDA reconciliation provided below.

Q2’27 Business Highlights: Commentary from CEO Sally Washlow

Orion’s second-quarter results and full-year expectations illuminate a continually strengthening sales funnel and expanding wallet share within enterprise customers. They also highlight the power of Orion’s proprietary supply chain, cited as a unique attribute by customers ranging from data-center operators to leading retail chains and logistics providers. Combined with Orion’s diversified-growth initiative and ongoing cost containment, these factors indicate positive prospects for achieving its recently increased guidance for the full fiscal year of FY2027.

Orion’s Q2’27 included a number of additional milestones:

— Increased Guidance for FY’27: Orion announced on September 15 that it expects to achieve total revenue of $100 million to $102 million for FY 2027, representing an increase from its previous outlook of $95 million to $97 million. As previously announced, Orion reiterated that it expected FY’Q2 revenues to decrease compared to the recently announced FY’Q1 revenue of $25.7M. The Company also said that it continues to expect to achieve positive adjusted EBITDA for the fiscal year as a whole.

— Another Data Center Win: Orion announced an additional deployment of its MPHL2 LED Lighting solution for one of the world’s largest data-center operators. The multimillion-dollar order followed June’s announcement of Orion’s first multimillion-dollar deployment for the global hype

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Orion Announces Major US Retailer’s Additional Commitment for Estimated $10M-15M;

Increases FY27 Revenue Outlook to $100M - $102M

Manitowoc, WI – September 15, 2026 – Orion Energy Systems, Inc. (NASDAQ: OESX) (Orion Lighting), a provider of energy-efficient LED lighting, electric vehicle (EV) charging stations and maintenance services solutions, today announced that a longtime customer has made a follow-on commitment to the Company for a new LED lighting project estimated to represent revenue of $10 million to $15 million. The new project is at additional locations operated by this retailer.

This latest commitment involves retrofitting interior LED Lighting and IoT system installations at selected locations not previously retrofitted by Orion. Orion maintains that this most recent expansion of work demonstrates the confidence that Orion has earned with this leading retailer over the course of numerous projects spanning several years.

The customer’s latest commitment is expected to be fulfilled on the basis of individual purchase orders, the timing of which is not certain at this time. However, Orion expects to recognize a significant majority of the revenue from this project in the second half of the current Fiscal Year 2027, which ends March 31, 2027.

As a result of today’s announcement, Orion also announced that it expects to achieve total revenue of $100 million to $102 million for FY 2027, representing an increase from its previous outlook of $95 million to $97 million. As previously announced, Orion expects FY’Q2 revenues to decrease compared to the recently announced FY’Q1 revenue of $25.7M. The Company continues to expect to achieve positive Adjusted EBITDA for the fiscal year as a whole.

“Orion has once again earned a significant increase in its scope of work on behalf of one of the biggest names in retailing,” said Orion Chief Executive Officer Sally Washlow. “Orion continues to add substantially to its workflow with this Global Fortune 50 company, as we expand our management of LED Lighting, IoT, Maintenance and Electrical Contracting. We are pleased to continue to earn increasing trust, confidence and business from this industry leader.”

About Orion Energy Systems

Orion provides energy efficiency and clean tech solutions, including LED lighting and controls, electrical vehicle (EV) charging solutions, and maintenance services. Orion specializes in turnkey design-through-installation solutions for large national customers as well as projects through ESCO and distribution partners, with a commitment to helping customers achieve their business and environmental goals with healthy, safe, and sustainable solutions that reduce their carbon footprint and enhance business performance.

For more information about Orion, please visit our website at www.orionlighting.com.

Safe Harbor Statement

Certain matters discussed in this press release, are “forward-looking statements” intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements may generally be identified as such because the context of such statements will include words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would” or words of similar import. Similarly, statements that describe our future plans, objectives or goals, including business relationships with government customers, are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause results to differ materially from those expected including, but not limited to, the risks described in our filings with the Securities and Exchange Commission.

Shareholders, potential investors and other readers are urged to consider risks and uncertainties carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at http://www.sec.gov or at http://investor.oriones.com/ in the Investor Relations section of our Website. Except as required by applicable law, we assume no obligation to update any forward-looking statements publicly or to update the reasons why actual results could differ materially from those anticipated in any forward-looking statements, even if new information becomes available in the future.

Engage with Us

X: @OrionLighting and @OrionLightingIR

StockTwits: @OESX_IR

Investor Relations Contacts

Per Bro

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Orion Reports First Quarter Financial Results:

Revenue Increases 32% to 25.7M, Net Income at $2M

Manitowoc, WI – August 5, 2026 – Orion Energy Systems, Inc. (NASDAQ: OESX) (Orion Lighting), a provider of energy-efficient LED lighting, electric vehicle (EV) charging stations and maintenance services solutions, today reported results for its fiscal 2027 first quarter (Q1’27) ended June 30, 2026.

Orion’s Q1’27 revenue was $25.7M versus $19.6M in Q1’26 up 32%, while Q1’27 gross margin was up by 450 basis points year-over-year at 34.6% versus 30.1% in Q1’26. The Company achieved net income of $2.0M in Q1’27, compared to a net loss of $1.2M in Q1’26. The Company achieved Q1’27 adjusted EBITDA of $2.5M — marking its seventh consecutive quarter of positive adjusted EBITDA – compared to adjusted EBITDA of $0.2M in Q1’26.

“Orion is on a path of profitable growth, increasing profitability and continued market expansion in FY’27,” said Orion’s Chief Executive Officer, Sally Washlow. “Today’s results for Q1’27 — our seventh straight quarter of positive adjusted EBITDA — demonstrate that we are advancing on that path.”

Ms. Washlow pointed to growth drivers ranging from Orion’s expanding business within large customers to a multimillion-dollar entry into the burgeoning hyper-scale data center market to an array of new Orion offerings introduced to the marketplace in recent months.

“Product and service introductions show continued traction, ranging from LED Lighting for hyper-scale data centers to Battery Storage and Electrical Contracting,” said Ms. Washlow. “We have similarly high aspirations for our newly introduced LED Roadway product designed for public roads.”

Ms. Washlow also cited Orion’s strengthening capabilities, such as a newly installed ERP system designed to scale with the Company’s expected growth. She also noted its unsurpassed proprietary supply chain reliability, quality control and domestic sourcing compliance which are critical for government contracts, federal incentives and Buy American compliance.

Orion is scheduled to discuss these results in an investor call today at 10:00 a.m. ET (details below).

Webcast and Call Details

Date / Time: Wednesday, August 5, 2026, at 10:00 a.m. ET

Live Call Registration: https://register-conf.media-server.com/register/BI9310cd50094241a1a190c4035fc8e3f6

Live call participants must pre-register using the URL above to receive the dial-in information. Anyone can re-register if they lose the dial-in or PIN #.

Webcast & Replay: https://register-conf.media-server.com/register/BI9310cd50094241a1a190c4035fc8e3f6

Q1'27 and Prior Three Quarters Financial Performance

Q1 Financial Summary

Prior Three Quarters

$ in millions except per share figures

Q1’27

Q1’26

Change

Q4'26

Q3’26

Q2'26

LED Lighting Revenue

$17.7

$12.9

37%

$20.3

$12.1

$10.7

EV Charging Revenue

$4.0

$2.7

48%

$2.3

$4.7

$4.8

Maintenance Revenue

$4.1

$4.0

2%

$3.2

$4.4

$4.5

Total Revenue

$25.7

$19.6

32%

$25.7

$21.1

$19.9

Gross Profit

$8.9

$5.9

51%

$9.5

$6.5

$6.2

Gross Profit %

34.6%

30.1%

+450 bps

37.0%

30.9%

31.0%

Net Income (Loss) (1)(2)(3)(4)(5)

$2.0

$(1.2)

+$3.2

$(1.5)

$0.2

$(0.6)

Net Income (Loss) per share (1)(2)(3)(4)(5)

$0.47

$(0.37)

+$0.84

$(0.39)

$0.04

$(0.17)

Adjusted EBITDA (3)

$2.5

$0.2

+$2.3

$0.8

$0.8

$0.5

(1) Voltrek earnout accrual and (net adjustments) was $1.7M in Q4'26.

(2) Q4'26 included $1.1M of expenses for the non-cash write-off of solar assets.

(3) Q1'26 included $0.6M of executive sign-on bonus and severance expenses.

(4) Q4'26 revenue included $1.3M associated with amending a solar energy contract that had no associated costs of goods.

(5) The net effect of tariffs for Q1'27 decreased costs of goods by approximately $0.3M.

(6) Adjusted EBITDA reconciliation provided below.

Q1’27 Business Highlights: Commentary from CEO Sally Washlow

Orion’s first-quarter results and full-year expectations continue to illustrate a strong sales funnel, expansion of wallet share within large customers, continuous strengthening of a truly unrivaled proprietary supply chain and continued cost management.

Orion’s first quarter illustrated noteworthy indicators of YOY growth:

— Orion entered the hyper-scale data center market with an LED lighting solution specifically designed for this massive market in Q1’27. Quickly following the product announcement, the Company was awarded a multimillion-dollar customer engagement with one of the world's largest hyper-scale data centers. Orion designed the MPHL2 to be a tailor-made LED Lighting solution for thousands of data centers to be built over the coming years. Meanwhile, the ability to provide unrivaled reliability, flexibility and scalability enables Orion to be a trusted supplier to the current data-center building boom. These unique attributes are of particular importance to Orion’s inaugural data-center customer.

— Orion/Vo