The 84.6% EPS miss signals near-term earnings pressure, but the FY2027 revenue guidance of $95-97M and $30M backlog provide a forward narrative. With a $37M market cap and only 1 analyst covering, any surprise moves sharply. Watch for the full FY2026 Q4 and annual report on June 4 — if the backlog converts to orders above the implied guidance, bearish pressure could reverse. Until then, the miss dominates.
Price Chart
Executive Summary
Orion Energy Systems pre-announced FY2026 revenue of ~$86M and adjusted EBITDA ≥$2M, with FY2027 guidance of $95-97M revenue. The implied Q3 EPS miss (actual $0.04 vs consensus $0.26, -84.6%) is a severe miss, though the press release focuses on improving backlog ($30M) and six consecutive quarters of positive adjusted EBITDA.
Key Financial Metrics
Key Facts
- Preliminary FY2026 (year ended March 31, 2026) revenue expected ~$86M with adjusted EBITDA ≥$2M
- FY2027 (year ending March 31, 2027) revenue guidance $95M-$97M, positive adjusted EBITDA reiterated
- Q3 2026 (Dec 2025 quarter) GAAP EPS $0.04 vs consensus $0.26 — an 84.6% miss
- Backlog of $30M as of March 31, 2026, cited as evidence of growth trajectory
- Company cited six consecutive quarters of positive adjusted EBITDA, cost improvements, and enterprise customer expansion
- No GAAP reconciliation provided for forward-looking adjusted EBITDA guidance
Financial Impact
Q3 EPS actual $0.04 vs consensus $0.26 — a $0.22 miss per share. FY2026 revenue ~$86M guides FY2027 to $95-97M, implying ~11-13% YoY growth. Adjusted EBITDA ≥$2M on $86M revenue is a thin ~2.3% margin.
Risk Factors
- Q3 EPS miss of 84.6% suggests deteriorating profitability in the most recent reported quarter
- Adjusted EBITDA margin of ~2.3% on $86M revenue leaves no room for error; any cost overhang or revenue shortfall could flip it negative
- Microcap stock with thin liquidity and only 1 analyst covering — price moves on low volume can be exaggerated
- FY2027 guidance assumes backlog conversion and enterprise customer growth materialize at or above current run rate
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3297311 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 8d ago | SC 13G | $22.80 $19.56 | ▼ −14.21% | ▼ −14.07% | $20.05 (−12.06%) |
Sep 15, 2026 6w ago | 8-K | $26.91 $27.50 | ▲ +2.19% | ▲ +1.38% | $20.05 (−25.49%) |
Aug 5, 2026 11w ago | 8-K | $16.06 $20.59 | ▲ +28.21% | ▲ +27.86% | $20.05 (+24.84%) |
Jun 24, 2026 17w ago | DEFA14A | $9.57 $12.18 | ▲ +27.27% | ▲ +25.57% | $20.05 (+109.51%) |
Jun 4, 2026 20w ago | 8-K | $9.16 $9.46 | ▲ +3.28% | ▲ +5.83% | $20.05 (+118.89%) |
Jun 4, 2026 20w ago | Press Release | $9.16 $9.46 | ▲ +3.28% | ▲ +5.83% | $20.05 (+118.89%) |
May 19, 2026 23w ago | 8-K | $8.78 $10.40 | ▲ +18.45% | ▲ +16.20% | $20.05 (+128.36%) |
May 19, 2026 23w ago | Press Release | $8.78 $10.40 | ▼ −18.45% | ▼ −16.20% | $20.05 (−128.36%) |
Apr 16, 2026 27w ago | 8-K | $9.55 $9.25 | ▼ −3.14% | ▼ −3.70% | $20.05 (+109.95%) |
Apr 15, 2026 27w ago | Press Release | $10.01 $9.50 | ▼ −5.09% | ▼ −6.73% | $20.05 (+100.30%) |
US Market Status
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