Orion Energy Systems Raises FY27 Sales Guidance From $95M-$97M To $100M-$102M After Follow-On Commitment For An LED Lighting Project With Estimated Sales Contribution Of $10M-$15M
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 comp
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. 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. "