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Side-by-side financial comparison of ORION ENERGY SYSTEMS, INC. (OESX) and ROCKWELL MEDICAL, INC. (RMTI). Click either name above to swap in a different company.
ORION ENERGY SYSTEMS, INC. is the larger business by last-quarter revenue ($21.1M vs $18.3M, roughly 1.1× ROCKWELL MEDICAL, INC.). ORION ENERGY SYSTEMS, INC. runs the higher net margin — 0.8% vs -3.0%, a 3.8% gap on every dollar of revenue. On growth, ORION ENERGY SYSTEMS, INC. posted the faster year-over-year revenue change (7.7% vs -25.6%). ROCKWELL MEDICAL, INC. produced more free cash flow last quarter ($2.2M vs $-1.1M). Over the past eight quarters, ROCKWELL MEDICAL, INC.'s revenue compounded faster (-10.1% CAGR vs -10.6%).
Orion Energy Systems, Inc. is an American LED lighting and intelligent controls enterprise, founded in Plymouth, Wisconsin, and headquartered in Manitowoc, Wisconsin
Rockwell Medical Inc. is a publicly traded pharmaceutical company based in Wixom, Michigan and founded in 1996 that focuses on development and commercialization of treatments against diseases such as end-stage renal disease (ESRD) and chronic kidney disease (CKD).
OESX vs RMTI — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $21.1M | $18.3M |
| Net Profit | $160.0K | $-554.0K |
| Gross Margin | 30.9% | 21.1% |
| Operating Margin | 1.8% | -2.2% |
| Net Margin | 0.8% | -3.0% |
| Revenue YoY | 7.7% | -25.6% |
| Net Profit YoY | 110.6% | 26.7% |
| EPS (diluted) | $0.04 | $-0.01 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $21.1M | $18.3M | ||
| Q3 25 | $19.9M | $15.9M | ||
| Q2 25 | $19.6M | $16.1M | ||
| Q1 25 | $20.9M | $18.9M | ||
| Q4 24 | $19.6M | $24.7M | ||
| Q3 24 | $19.4M | $28.3M | ||
| Q2 24 | $19.9M | $25.8M | ||
| Q1 24 | $26.4M | $22.7M |
| Q4 25 | $160.0K | $-554.0K | ||
| Q3 25 | $-581.0K | $-1.8M | ||
| Q2 25 | $-1.2M | $-1.5M | ||
| Q1 25 | $-2.9M | $-1.5M | ||
| Q4 24 | $-1.5M | $-756.0K | ||
| Q3 24 | $-3.6M | $1.7M | ||
| Q2 24 | $-3.8M | $343.0K | ||
| Q1 24 | $1.6M | $-1.7M |
| Q4 25 | 30.9% | 21.1% | ||
| Q3 25 | 31.0% | 14.3% | ||
| Q2 25 | 30.1% | 15.6% | ||
| Q1 25 | 27.4% | 16.1% | ||
| Q4 24 | 29.4% | 14.7% | ||
| Q3 24 | 23.1% | 22.0% | ||
| Q2 24 | 21.6% | 17.6% | ||
| Q1 24 | 25.8% | 13.5% |
| Q4 25 | 1.8% | -2.2% | ||
| Q3 25 | -1.2% | -9.9% | ||
| Q2 25 | -5.2% | -8.4% | ||
| Q1 25 | -12.7% | -7.2% | ||
| Q4 24 | -6.4% | -2.1% | ||
| Q3 24 | -16.9% | 6.8% | ||
| Q2 24 | -17.2% | 2.0% | ||
| Q1 24 | 6.8% | -5.8% |
| Q4 25 | 0.8% | -3.0% | ||
| Q3 25 | -2.9% | -11.0% | ||
| Q2 25 | -6.4% | -9.3% | ||
| Q1 25 | -13.9% | -8.0% | ||
| Q4 24 | -7.7% | -3.1% | ||
| Q3 24 | -18.7% | 5.9% | ||
| Q2 24 | -18.9% | 1.3% | ||
| Q1 24 | 6.1% | -7.6% |
| Q4 25 | $0.04 | $-0.01 | ||
| Q3 25 | $-0.17 | $-0.05 | ||
| Q2 25 | $-0.04 | $-0.05 | ||
| Q1 25 | $1.32 | $-0.04 | ||
| Q4 24 | $-0.46 | $-0.02 | ||
| Q3 24 | $-1.10 | $0.04 | ||
| Q2 24 | $-0.12 | $0.01 | ||
| Q1 24 | $0.06 | $-0.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.7M | $10.7M |
| Total DebtLower is stronger | $9.8M | — |
| Stockholders' EquityBook value | $11.8M | $37.0M |
| Total Assets | $48.3M | $57.1M |
| Debt / EquityLower = less leverage | 0.83× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.7M | $10.7M | ||
| Q3 25 | $5.2M | $13.6M | ||
| Q2 25 | $3.6M | $12.5M | ||
| Q1 25 | $6.0M | $11.4M | ||
| Q4 24 | $7.5M | $15.7M | ||
| Q3 24 | $5.4M | $12.3M | ||
| Q2 24 | $5.7M | $11.9M | ||
| Q1 24 | $5.2M | $6.6M |
| Q4 25 | $9.8M | — | ||
| Q3 25 | $9.9M | — | ||
| Q2 25 | $8.5M | — | ||
| Q1 25 | $10.3M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $12.5M | — | ||
| Q2 24 | $13.5M | — | ||
| Q1 24 | $10.0M | — |
| Q4 25 | $11.8M | $37.0M | ||
| Q3 25 | $11.4M | $37.0M | ||
| Q2 25 | $10.8M | $30.4M | ||
| Q1 25 | $11.9M | $31.5M | ||
| Q4 24 | $14.5M | $32.6M | ||
| Q3 24 | $15.8M | $29.1M | ||
| Q2 24 | $19.1M | $23.5M | ||
| Q1 24 | $22.5M | $20.6M |
| Q4 25 | $48.3M | $57.1M | ||
| Q3 25 | $47.9M | $57.5M | ||
| Q2 25 | $49.0M | $52.6M | ||
| Q1 25 | $52.5M | $54.0M | ||
| Q4 24 | $52.7M | $59.2M | ||
| Q3 24 | $56.3M | $57.1M | ||
| Q2 24 | $59.8M | $53.0M | ||
| Q1 24 | $63.2M | $50.7M |
| Q4 25 | 0.83× | — | ||
| Q3 25 | 0.87× | — | ||
| Q2 25 | 0.79× | — | ||
| Q1 25 | 0.87× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.79× | — | ||
| Q2 24 | 0.71× | — | ||
| Q1 24 | 0.44× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-897.0K | $2.3M |
| Free Cash FlowOCF − Capex | $-1.1M | $2.2M |
| FCF MarginFCF / Revenue | -5.4% | 12.0% |
| Capex IntensityCapex / Revenue | 1.2% | 0.5% |
| Cash ConversionOCF / Net Profit | -5.61× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-905.0K | $-1.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-897.0K | $2.3M | ||
| Q3 25 | $1.8M | $-1.3M | ||
| Q2 25 | $-515.0K | $1.8M | ||
| Q1 25 | $-699.0K | $-3.5M | ||
| Q4 24 | $3.8M | $865.0K | ||
| Q3 24 | $498.0K | $4.3M | ||
| Q2 24 | $-3.0M | $1.4M | ||
| Q1 24 | $175.0K | $-2.4M |
| Q4 25 | $-1.1M | $2.2M | ||
| Q3 25 | $1.6M | $-1.5M | ||
| Q2 25 | $-570.0K | $1.7M | ||
| Q1 25 | $-750.0K | $-3.5M | ||
| Q4 24 | $3.7M | $470.0K | ||
| Q3 24 | $493.0K | $4.1M | ||
| Q2 24 | $-3.0M | $1.2M | ||
| Q1 24 | $144.0K | $-2.5M |
| Q4 25 | -5.4% | 12.0% | ||
| Q3 25 | 7.9% | -9.6% | ||
| Q2 25 | -2.9% | 10.5% | ||
| Q1 25 | -3.6% | -18.8% | ||
| Q4 24 | 19.1% | 1.9% | ||
| Q3 24 | 2.5% | 14.4% | ||
| Q2 24 | -15.0% | 4.5% | ||
| Q1 24 | 0.5% | -11.1% |
| Q4 25 | 1.2% | 0.5% | ||
| Q3 25 | 1.3% | 1.4% | ||
| Q2 25 | 0.3% | 1.0% | ||
| Q1 25 | 0.2% | 0.3% | ||
| Q4 24 | 0.1% | 1.6% | ||
| Q3 24 | 0.0% | 0.7% | ||
| Q2 24 | 0.1% | 1.1% | ||
| Q1 24 | 0.1% | 0.6% |
| Q4 25 | -5.61× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.57× | ||
| Q2 24 | — | 4.20× | ||
| Q1 24 | 0.11× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OESX
| Lighting Product And Installation | $11.9M | 56% |
| Electric Vehicle Charging Systems | $4.7M | 22% |
| Maintenance Services | $4.4M | 21% |
RMTI
| US | $15.9M | 87% |
| Non Us | $2.4M | 13% |
