Orion Energy Systems Inc
NASDAQ: OESX · INDUSTRIALS · ELECTRICAL EQUIPMENT & PARTS
Updated 2026-06-05
Orion Energy Systems Inc (OESX) Financial statements
SEC filings — annual and quarterly data.
Cash flow — annual
| Item | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $-6.23M | $-1.36M | $3.24M | $-9.01M | $-6.38M | $11.49M | $2.26M | $9.90M | $-12.81M | $-3.44M | $-1.90M | $-4.42M | $-5.06M | $20.34M | $1.73M | $-113000.00 | $-2.29M | $-10.09M | $599000.00 | $-1.08B |
| Capital expenditures | $1.09M | $5.21M | $14.26M | $10.74M | $7.66M | $4.55M | $2.31M | $453000.00 | $2.24M | $427000.00 | $951000.00 | $585000.00 | $449000.00 | $945000.00 | $953000.00 | $528000.00 | $595000.00 | $837000.00 | $105000.00 | $83.00M |
| Depreciation | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Stock-based comp | $268000.00 | $1.39M | $1.58M | $1.49M | $1.30M | $1.27M | $1.16M | $1.37M | $1.50M | $1.46M | $1.60M | $1.10M | $825000.00 | $618000.00 | $753000.00 | $813000.00 | $1.61M | $950000.00 | $1.16M | $483.00M |
| Free cash flow | $-7.33M | $-6.58M | $-11.02M | $-19.75M | $-14.03M | $6.94M | $-51000.00 | $9.45M | $-15.05M | $-3.87M | $-2.85M | $-5.00M | $-5.51M | $19.40M | $776000.00 | $-641000.00 | $-2.89M | $-10.93M | $494000.00 | $-1.16B |
| Investing cash flow | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Dividends paid | — | $10.71M | — | $709000.00 | — | $6.04M | $418000.00 | $0.00 | $0.00 | $65.91M | $0.00 | $0.00 | $6000.00 | $13000.00 | $152000.00 | $122000.00 | $2000.00 | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Debt repayment | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net change in cash | — | — | — | — | — | $11.45M | $-8.63M | $3.19M | $2.43M | $-4.46M | $1.76M | $-7.88M | $-695000.00 | $20.02M | $-9.36M | — | $1.53M | — | — | — |
Frequently asked questions
What is Orion Energy Systems Inc's revenue?
Orion Energy Systems Inc's trailing twelve-month revenue is $86.31M. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is OESX?
In its most recent fiscal year, OESX ran a gross margin of 32.55%, an operating margin of -0.61%, and a net margin of -3.66%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does OESX generate?
OESX produced $-1.16B in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is OESX's balance sheet healthy?
OESX holds $3.27B in cash and equivalents against $5.62M in long-term debt, on $16.63M of shareholder equity. Cash on hand exceeds long-term debt, so the balance sheet adds little financial risk to the thesis.