Orion Energy Systems, Inc. (NASDAQ: OESX) has announced an update to its financial outlook for fiscal year 2027, citing a new project commitment from a major retail client. According to the company’s Form 8-K filed on September 15, 2026, Orion expects to achieve total revenue between $100 million and $102 million for the fiscal year ending March 31, 2027. This figure represents an increase from the company’s previous guidance of $95 million to $97 million.
The updated forecast is driven by a follow-on commitment from a longtime customer, identified as a leading retailer. The new project involves retrofitting interior LED lighting and IoT systems at additional locations operated by the retailer that were not previously retrofitted by Orion. The company estimates the revenue from this project to be between $10 million and $15 million.
Orion noted that revenue recognition from this new project is expected to occur in the second half of fiscal 2027. The company also stated that it anticipates a decrease in revenue for the second quarter of fiscal 2027 compared to the first quarter, which saw revenue of $25.7 million. Despite the Q2 decrease, Orion confirmed its expectation to achieve positive Adjusted EBITDA for the full fiscal year.
The press release accompanying the filing emphasized the continued expansion of the relationship with the Global Fortune 50 retailer. The company stated that the new commitment is expected to be fulfilled on a purchase order basis, with the timing of individual orders remaining uncertain.
