Filing Flows › Orion Energy Systems (OESX) › Q2 FY26
Orion Energy Systems (OESX) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Nov 5, 2025
Orion Energy Systems (OESX) reported revenue of $19.9M for the second quarter fiscal 2026 (Q2 FY26), +3% from a year earlier and +2% from the quarter before. Operating margin was -1.2%, net loss $581K (2.9% of revenue).
Orion Energy Systems, Q2 FY26: revenue $19.9M (+3% year over year), operating margin -1.2%, net loss $581K, operating cash flow $1.8M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $19.9M | +2% | +3% |
| Operating profit | −$242K | — | — |
| Net earnings | −$581K | — | — |
| Operating cash flow | $1.8M | — | +265% |
| Free cash flow | $1.6M | — | +217% |
What changed
Revenue was $19.9M in Q2 FY26, up 3% year over year and up 2% from the previous quarter. Product was the largest line at 64% of revenue. Product added $446K year over year (up 4%), 80% of the total change.
Gross margin was 31.0%, up 7.9 points from a year earlier. Operating costs exceeded revenue by $242K, an operating margin of -1.2%. Operating expenses fell 17% while revenue rose 3%. The quarter ended with a net loss of $581K, narrower than the previous quarter's $1.2M loss. Net interest and other expense of $329K was the main reason.
Operating cash flow was $1.8M (up 265% year over year). Non-cash charges added back $464K of depreciation and amortization and $157K of share-based compensation. Working capital and other items added $1.8M. Capital expenditures of $255K left free cash flow of $1.6M.
Questions
What was Orion Energy Systems' revenue in the second quarter fiscal 2026?
Orion Energy Systems (OESX) reported revenue of $19.9M for the second quarter fiscal 2026 (Q2 FY26), +3% from a year earlier and +2% from the quarter before.
Was Orion Energy Systems profitable in the second quarter fiscal 2026?
Operating loss was $242K (-1.2% of revenue) and net loss $581K.