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MANITOWOC, WI – Orion Energy Systems, Inc. (NASDAQ:OESX), a manufacturer of electric lighting and wiring equipment currently trading at $0.74, has been granted an additional 180 days, until September 15, 2025, to meet Nasdaq’s minimum bid price requirement and avoid delisting. According to InvestingPro data, the stock has declined over 16% in the past year and currently shows signs of being undervalued based on its Fair Value analysis. The company disclosed in a regulatory filing today that it received a notice from Nasdaq confirming its eligibility for the extension based on compliance with other listing requirements and the intention to undertake a reverse stock split if necessary.
On September 20, 2024, Orion was notified of non-compliance with the $1.00 minimum bid price rule after its stock traded below this threshold for 30 consecutive days. The initial 180-day period to regain compliance ended on March 19, 2025. The company responded by expressing its intent to execute a reverse stock split during the new compliance period to rectify the situation. The stock currently trades at just 10% above its 52-week low of $0.68, while maintaining a moderate debt-to-equity ratio of 0.77.
If Orion’s stock achieves a closing bid price of $1.00 or higher for at least 10 consecutive trading days during the extension, it will regain compliance and the matter will be resolved. Failure to meet the requirement by the September deadline may result in delisting, although the company would have the right to appeal.
Orion is monitoring its stock price closely and considering options to comply with the bid price rule. However, there is no guarantee of compliance, even if other Nasdaq listing standards are met.
The company’s forward-looking statements in the SEC filing indicate ongoing efforts to manage cost pressures, sustain profitability, and innovate within the competitive LED market. InvestingPro analysis reveals several challenges, including negative EBITDA of -$3.24M and analysts’ expectations of continued losses this year. Risks include potential loss of key customers, dependence on third-party manufacturers, and the need to maintain effective cybersecurity measures. For deeper insights into Orion’s financial health and prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro, which covers over 1,400 US stocks with expert analysis and actionable intelligence.
This news is based on Orion Energy Systems’ latest SEC filing and reflects the company’s current plans and challenges as it works to maintain its listing on the Nasdaq Stock Market.
In other recent news, Orion Energy Systems reported a decline in its third-quarter fiscal year 2025 revenue, which fell to $19.6 million from $26 million in the same quarter the previous year. Despite this drop, the company’s earnings per share (EPS) aligned with forecasts, showing a loss of $0.05. Orion’s gross margin improved by 490 basis points to 29.4%, indicating effective cost management. The company anticipates double-digit revenue growth in fiscal year 2026. In addition, Orion Energy Systems has started a $3 million LED lighting project for a federal government agency, expanding its portfolio in the government sector. This project follows a previous $9.6 million LED retrofit project for the Department of Defense in Europe. Orion’s recent developments also include a focus on enhancing its sales team and restructuring its business units to better serve customer needs. Analyst firms such as Craig Hallum Capital Group and H.C. Renwright have shown interest in the company’s strategic positioning and upcoming projects.
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