Good morning. As noted, I'm Sally Washlow, the CEO of Orion Energy Systems. Thanks for joining here today. With me as well is Per Brodin, our CFO. I'll give you a brief presentation today and then happy to answer any questions. So, I just get to, I can probably just do this. Orion is a company. We're based in Manitowoc, Wisconsin, with divisions in Florida and Boston as well. What we do is LED lighting, electrical infrastructure projects as well, and EV charging. What we do, we pair our U.S.-engineered LED lighting. We also do the installation of that. We do EV charging infrastructure through our division called Voltrek, and we also provide ongoing maintenance services. Oftentimes we are converting a single product sale into a multi-year customer relationship, and we're leveraging our U.S.-based manufacturing as well as a global supply chain.
Our investment thesis is really that our vertical integration provides a moat. We combine our domestic manufacturing in Manitowoc, Wisconsin, where we produce LED lighting, along with global contract manufacturers to enhance our supply chain, along with installation services and maintenance. Because we do have U.S. manufacturing capability, that allows us access to federal, state, municipality, data center procurement as well, which is not as accessible to our competitors that might heavily rely on imported product. Our turnkey model, as I mentioned, we do the installation as well. That expands our wallet share per customer, which I'll share in a couple examples today. We integrate lighting controls. We do EV charging. Just today we announced a recent customer win that expanded not only an LED lighting win, we're doing electrical contracting, and we're doing EV charging for this customer as well.
Some other recent highlights, we have entered into the data center space with a data center fixture that is with a hyperscaler. We've won a couple awards from them. We are known for EV fleet electrification with Boston Public Schools as they're electrifying their entire fleet. Also recent awards, we have a three-year maintenance contract with one of our largest customers, valued at $45 million t hat provides a nice base of recurring revenue. In the future, where we see growth coming from data centers, EV infrastructure, and then our turnkey installation and electrical contracting. We report in three business segments: lighting, maintenance and technical services, and EV charging. To highlight, in lighting, we not only design, we manufacture, and we install energy-efficient LED lighting systems. We have over 25,000 projects completed. We do interior and exterior. Our focus is on commercial and industrial retrofit business.
A phenomenon that we see approaching is what we term LED 2.0 or even re-LED, where we're seeing customers from 8-1 0 years ago that we put in LED lighting come back around and say, "Is it time to replace what was put in years ago?" We have multiple go-to-market models within our lighting segment. We work directly with national accounts, or we work with energy service companies, otherwise known as ESCOs, where we're selling them the lighting, they're doing the installation, and then we also have a distribution channel as well. In our maintenance and technical services group, that's where we're doing lighting, electrical, and EV maintenance services. We do preventative and reactive. Because of a large contract that we have with a customer, it provides us a national footprint. We truly believe we can scale this segment as well.
Within EV charging, we provide end-to-end commercial EV charging solutions. We are not focused on residential, more in the commercial and industrial environment. We install Level 2 and DC fast charging, and we work with several of the leading charging suppliers that I will share in a minute. Our turnkey capabilities are really a hallmark of what we bring to our customers. They are discreet, they are bespoke, and we can work with our customers on projects large and small. That is why decade after decade, we have been a preferred provider to many Fortune 100 customers, ranging from manufacturing to retail to logistics. We are with them through the full cycle, starting at a facility audit, doing the design, manufacturing, installation, rebates, warranty.
We are truly a one-stop for our customers, and this often provides a base of further conversation as we expand our services and capabilities into these customers, similar to what we announced this morning with a large automotive manufacturer doing LED lighting, electrical infrastructure, and EV charging systems for them. In lighting, as I mentioned, we have a manufacturing facility in Manitowoc, Wisconsin. That is about an hour north of Milwaukee. Because of our proprietary approach to our supply chain, we are often winning because we can make it in the U.S., or we can rely upon our global supply chain so we can customize for many accounts, and we can have shortened lead time and be very responsive to what our customers need. If it does have to be Buy American compliant, our U.S. facility affords for that as well.
Oftentimes we are winning based upon our unique capabilities that we can bring to customers. Here is one example of a case study working with a global leader in product testing. What I like to really emphasize with this customer is that it started to replace their fluorescent lighting systems. As we expanded the scope of work, not only did we replace their fluorescent lighting with LED lighting fixtures, but this couple hundred thousand dollar opportunity turned into a multimillion-dollar opportunity as we did electrical infrastructure with them, and we expanded to other campuses as well. This is often a hallmark of what we do. We get in with a customer, it starts with maybe a single solution, and we often expand that opportunity within customers while saving them money and making them more energy efficient.
In our maintenance and managed services, this provides a great base of recurring revenue for us year in and year out. We just signed a contract with a customer, $45 million, three-year commitment. So, about $15 million a year in recurring maintenance. We are day in, day out at this customer, so this not only affords us maintenance work, but then often expands to other areas of opportunity. Because of this contract, it provides us with a nationwide network of skilled and certified lighting and electrical professionals, which we have then can expand to other customers this type of work. Our EV charging segment, this came to us a couple of years ago when we bought a company called Voltrek. They were in the Northeast, Boston specifically. They had already had 16 years of EV expertise and experience. We are a premier reseller of EV charging stations.
Unlike lighting we manufacture, in EV charging, we work with preferred partners such as ABB, ChargePoint, InCharge, Alpitronic. We have over 8,000 ports under our management, and we also do networking, maintenance, and recurring revenue. We have been a provider of choice, and specifically in the Northeast, and have been expanding this footprint as well, pointing to an example this morning of the contract that we won with the automotive manufacturer to install EV installations at one of their sites. A great case study that we're really proud to call a partner is the Boston Public Schools. They determined a couple of years ago to electrify their entire school bus fleet through the Green New Deal. And we have been a partner of theirs in several of their school bus yards.
Each of these bus yards is a multimillion-dollar opportunity for us as we install the EV charging infrastructure within these school bus yards. So, we've been great partners. We expect more of this to come in the future as they roll out, yard- by- yard, the EV infrastructure to support their growing fleet of EV buses. What I've been sharing with you is really how we are leveraging our long-term relationships to diversify our revenue. We've added new additional capabilities to fuel our growth. So, our growth isn't just coming from new customers. We're bringing often these capabilities to existing customers. So, within LED lighting, we provide high-efficiency LED lighting, and we are constantly developing new fixtures to improve the efficiency and give our customers an ROI to either replace old systems that they have or re-LED their existing systems as well.
We provide preventative maintenance through our maintenance and technical services. A new area for us is electrical contracting, and many of these revenue streams have been born from customers coming to us asking, "Can you install battery energy storage systems?" That has been a new revenue stream for us as well, and we're also doing electrical contracting and electrical infrastructure work in new construction in retail and industrial. And through EV charging infrastructure, our network integration support, that also provides recurring revenue for us. We're also helping with site planning and installation in that space as well. So, we expect more of this to continue to grow and continue diversification of revenue. We're proud to call many of these customers longstanding, multi-decade customers of Orion.
I'd also like to point out that many of them started with a single fixture sales in one building and has expanded to multiple campuses, multi-year initiatives. With many of these customers, we are planning year in and year out their lighting replacement cycles, their electrical maintenance as well. So, we start small and often expand within these customers. And many of these customers have come to us. So, when we talk about our recent business transformation, enhancing our service offerings, oftentimes it's come from customers coming to us saying, "Can you do this? Will you add this to the portfolio of services that we can provide?" Increasing the lifetime value of each of these customers. Our product portfolio. We are known for decades to provide dependable products, trusted by many Fortune 100 customers. I'd like to highlight a few of our recent solutions that we've brought to market.
Everyone's talking about data centers. We're proud to say that we have won data center opportunities with a hyperscaler. We've won in multiple campuses of theirs as well. This is a solution that we worked with, partnering with them of how do we bring not only energy-efficient lighting, which is a problem they're trying to solve from day one, but how do we make it easier to install for them as well? We're doing a lot of customization at our U.S.-based facility so that by the time it gets to them, it's easier to install and saving them a tremendous amount of work in the installation. We're also in the outdoor space. We have introduced a roadway product. This is something that you'll see on the streets and highways of America.
Again, being able to leverage our U.S.-based manufacturing allows us to win certain contracts that require domestic material in it. We're just starting to launch that product. In the services side, maintenance is a fairly new product line for us, project management services as well, and electrical contracting. Many of these are multi-year, multi-million dollar commitments that we've expanded these services within our existing customers. Why we win is that we are providing industry-leading technology and design. Because of our unique ability to not only design the product, but we're also installing it, we're taking total cost of ownership from the beginning. We're providing the highest energy efficiency and the smart designs to deliver the highest ROI. We're always looking at how do we make this easier to install? How do we make retrofits easier for the customers to say yes to?
Our unique turnkey capability, we can execute the projects from concept to completion, and then we'll provide ongoing maintenance and services. Some of our sales team like to say they have one throat to choke. Others like to say one pat on the back as well, depending on what side of the equation you're on. Our design and manufacturing flexibility, we have a flexible and cost-efficient supply chain. We have our U.S.-based manufacturing, but then we have also supply chain coming from Asia and Mexico as well, depending on the customer requirements. Our U.S.-based manufacturing does enable us to bid on Buy American and BABA compliant as well. We have several government contracts, and this affords us the ability to keep many of those as well. Our broad and diversified sales reach as well.
I like to say that we like to meet the customer how they want to buy from us. Some are going to buy directly through national accounts. Some are going to work through an agent and distribution network. We often see that in new construction. Data centers, for an example, are coming through an agent and distribution network. Energy service companies, a lot of customers have multi-initiative energy savings projects. Then we're working through an ESCO to provide that solution as well. Our dedicated service and white glove servicing to our long-term customers, 24-hour response time with many of our maintenance contracts. Our trusted long-term relationships, many of those blue-chip customers, multi-decade relationships, and year-over-year, we're just adding more products and services that we can bring to them.
Our growth drivers are really taking a holistic approach to drive growth with a customer-centric focus to drive long-term sustainability. We are leveraging our existing customer. As I mentioned, a single fixture sale has often converted into a multi-year, multi-million dollar initiative with many of our customers, and we expect revenue and margin growth. It is not only expected to come from our existing customers, new customers as well, but there is a lot of work that we can do within our existing customer base. Our service expansions have provided multi-year maintenance and electrical contracting programs, increasing that revenue per customer. Our new products and bundled solutions, whether it is data center lighting, roadway lighting, our project management, and electrical contracting services, has really increased our revenue and margins as well. In summary, how we achieve our mission is we are one source for LED lighting and EV charging projects.
We provide a substantial reduction in energy savings for our customers. The average payback is one to four years. Our advanced product design, based here in the U.S., provides the highest lumens per watt performance in the industry. Our flexible supply chain allows customers to get to market quickly and also cost-effectively. Our expanding product portfolio, exterior products that I mentioned, we have a contractor line of products as well, has really increased our market share within LED lighting. Our multiple go-to-market model, we are going to meet customers where they want to meet us and service them appropriately. Our expanding lighting maintenance services has really helped fuel our growth. Our management, myself, I am Sally Washlow. I joined the company about 18 months ago from the board, and with me today is Per Brodin, who joined in the fall of 2025. Not present with us is Scott Green.
He is our COO. He came to us through the acquisition of Harris Lighting. He has been in the lighting industry for decades and is working hand-in-hand with our customers on many of these initiatives and solutions. A bit about our quarterly revenue, margin, EBITDA, and liquidity. As you can see, we are proud to show over the last several quarters, our revenue has been increasing, gross margin has been in the 30s, adjusted EBITDA, the last 12 months, $4.5 million, and substantial improvements in working capital and liquidity as well. With that, we are happy to take any questions. Okay. You in the black shirt first. Hi.
What proportion of your EV chargers are superchargers [audio distortion].
The question was, what percent are superchargers, like DC fast charging
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Versus Level 2? I don't have a breakout of that over the top of my head. Per, do you?
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Yeah.
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We're doing Level 3 , but we're not doing Tesla superchargers.
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Yeah. Yeah. The bus systems are that. I would say the legacy majority would be Level 2, but I couldn't give you a percentage.
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In the gray sport coat? Yeah.
Thank you. With these large turnkey projects, this under longer, contracted out. Can you describe visibility [audio distortion]
Yeah, our backlog is normally converted within a year. We report our backlog at the end of each quarter. But we can have large projects that shift and push out by a quarter, by six months. There is an inherent lumpiness in our business, and if it's a large project that pushes out, that lumpiness is more apparent as well. But normally, it will convert within a year.
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It was 20, right, Per?
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Yeah. That was at the end of June. Our fiscal ends at the end of March. Go ahead.
I know estimate about $2.09 million in Q2. It sounds pretty solid, steady state run rate or was there some big one-off items in that number?
I believe it was our Q1 reporting.
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Yeah. We've been on this track. We had a release about a month ago, where we updated our guidance as well to a little over $102 million for the year. But we did note that Q2 might be a little bit down from that. So, there is this lumpiness that can happen quarter- to- quarter.
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We don't guide to that. Yeah. Sure.
Can you kind of walk us through, obviously, there's a big build-out going on in America, especially with data centers. With regards to if you do a big build-out for a data center, the ongoing maintenance contract as a percentage of that, will it be 1%, 2%, 5%? How do we think about modeling [audio distortion]
Within data centers specifically, and I should've been more clear on this, we're supplying the lighting only. We're not doing the installation. Present day, we don't have any maintenance contracts per se within data centers.
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Yeah.
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Yeah, like with a retailer, we have an ongoing maintenance contract, which is like $15 million a year in maintenance. All right, we're out of time. Thanks for joining.