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Side-by-side financial comparison of ORION ENERGY SYSTEMS, INC. (OESX) and Neuronetics, Inc. (STIM). Click either name above to swap in a different company.
Neuronetics, Inc. is the larger business by last-quarter revenue ($41.8M vs $21.1M, roughly 2.0× ORION ENERGY SYSTEMS, INC.). ORION ENERGY SYSTEMS, INC. runs the higher net margin — 0.8% vs -17.2%, a 18.0% gap on every dollar of revenue. On growth, Neuronetics, Inc. posted the faster year-over-year revenue change (85.7% vs 7.7%). Neuronetics, Inc. produced more free cash flow last quarter ($692.0K vs $-1.1M). Over the past eight quarters, Neuronetics, Inc.'s revenue compounded faster (54.9% 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
Neuronetics is a Malvern, PA based, publicly traded company incorporated in Delaware in April 2003, that develops non-invasive treatments for psychiatric disorders that have shown resistance or lack of improvement using traditional medicine. The treatments are based upon neuromodulation technology.
OESX vs STIM — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $21.1M | $41.8M |
| Net Profit | $160.0K | $-7.2M |
| Gross Margin | 30.9% | 52.0% |
| Operating Margin | 1.8% | -12.1% |
| Net Margin | 0.8% | -17.2% |
| Revenue YoY | 7.7% | 85.7% |
| Net Profit YoY | 110.6% | 43.2% |
| EPS (diluted) | $0.04 | $-0.10 |
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 | $41.8M | ||
| Q3 25 | $19.9M | $37.3M | ||
| Q2 25 | $19.6M | $38.1M | ||
| Q1 25 | $20.9M | $32.0M | ||
| Q4 24 | $19.6M | $22.5M | ||
| Q3 24 | $19.4M | $18.5M | ||
| Q2 24 | $19.9M | $16.4M | ||
| Q1 24 | $26.4M | $17.4M |
| Q4 25 | $160.0K | $-7.2M | ||
| Q3 25 | $-581.0K | $-9.0M | ||
| Q2 25 | $-1.2M | $-10.1M | ||
| Q1 25 | $-2.9M | $-12.7M | ||
| Q4 24 | $-1.5M | $-12.7M | ||
| Q3 24 | $-3.6M | $-13.3M | ||
| Q2 24 | $-3.8M | $-9.8M | ||
| Q1 24 | $1.6M | $-7.9M |
| Q4 25 | 30.9% | 52.0% | ||
| Q3 25 | 31.0% | 45.9% | ||
| Q2 25 | 30.1% | 46.6% | ||
| Q1 25 | 27.4% | 49.2% | ||
| Q4 24 | 29.4% | 66.2% | ||
| Q3 24 | 23.1% | 75.6% | ||
| Q2 24 | 21.6% | 74.0% | ||
| Q1 24 | 25.8% | 75.1% |
| Q4 25 | 1.8% | -12.1% | ||
| Q3 25 | -1.2% | -19.6% | ||
| Q2 25 | -5.2% | -21.1% | ||
| Q1 25 | -12.7% | -34.4% | ||
| Q4 24 | -6.4% | -51.0% | ||
| Q3 24 | -16.9% | -41.7% | ||
| Q2 24 | -17.2% | -51.7% | ||
| Q1 24 | 6.8% | -39.4% |
| Q4 25 | 0.8% | -17.2% | ||
| Q3 25 | -2.9% | -24.3% | ||
| Q2 25 | -6.4% | -26.6% | ||
| Q1 25 | -13.9% | -39.6% | ||
| Q4 24 | -7.7% | -56.4% | ||
| Q3 24 | -18.7% | -72.0% | ||
| Q2 24 | -18.9% | -59.8% | ||
| Q1 24 | 6.1% | -45.2% |
| Q4 25 | $0.04 | $-0.10 | ||
| Q3 25 | $-0.17 | $-0.13 | ||
| Q2 25 | $-0.04 | $-0.15 | ||
| Q1 25 | $1.32 | $-0.21 | ||
| Q4 24 | $-0.46 | $-0.34 | ||
| Q3 24 | $-1.10 | $-0.44 | ||
| Q2 24 | $-0.12 | $-0.33 | ||
| Q1 24 | $0.06 | $-0.27 |
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 | $28.1M |
| Total DebtLower is stronger | $9.8M | $65.8M |
| Stockholders' EquityBook value | $11.8M | $22.4M |
| Total Assets | $48.3M | $141.6M |
| Debt / EquityLower = less leverage | 0.83× | 2.94× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.7M | $28.1M | ||
| Q3 25 | $5.2M | $28.0M | ||
| Q2 25 | $3.6M | $11.0M | ||
| Q1 25 | $6.0M | $20.2M | ||
| Q4 24 | $7.5M | $18.5M | ||
| Q3 24 | $5.4M | $20.9M | ||
| Q2 24 | $5.7M | $42.6M | ||
| Q1 24 | $5.2M | $47.7M |
| Q4 25 | $9.8M | $65.8M | ||
| Q3 25 | $9.9M | $65.7M | ||
| Q2 25 | $8.5M | $55.5M | ||
| Q1 25 | $10.3M | $55.3M | ||
| Q4 24 | — | $55.2M | ||
| Q3 24 | $12.5M | $46.0M | ||
| Q2 24 | $13.5M | $59.8M | ||
| Q1 24 | $10.0M | $59.4M |
| Q4 25 | $11.8M | $22.4M | ||
| Q3 25 | $11.4M | $27.4M | ||
| Q2 25 | $10.8M | $27.1M | ||
| Q1 25 | $11.9M | $35.5M | ||
| Q4 24 | $14.5M | $27.7M | ||
| Q3 24 | $15.8M | $9.4M | ||
| Q2 24 | $19.1M | $19.4M | ||
| Q1 24 | $22.5M | $27.7M |
| Q4 25 | $48.3M | $141.6M | ||
| Q3 25 | $47.9M | $145.5M | ||
| Q2 25 | $49.0M | $134.7M | ||
| Q1 25 | $52.5M | $142.0M | ||
| Q4 24 | $52.7M | $140.9M | ||
| Q3 24 | $56.3M | — | ||
| Q2 24 | $59.8M | $96.8M | ||
| Q1 24 | $63.2M | $103.8M |
| Q4 25 | 0.83× | 2.94× | ||
| Q3 25 | 0.87× | 2.40× | ||
| Q2 25 | 0.79× | 2.05× | ||
| Q1 25 | 0.87× | 1.56× | ||
| Q4 24 | — | 1.99× | ||
| Q3 24 | 0.79× | 4.90× | ||
| Q2 24 | 0.71× | 3.08× | ||
| Q1 24 | 0.44× | 2.15× |
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 | $908.0K |
| Free Cash FlowOCF − Capex | $-1.1M | $692.0K |
| FCF MarginFCF / Revenue | -5.4% | 1.7% |
| Capex IntensityCapex / Revenue | 1.2% | 0.5% |
| Cash ConversionOCF / Net Profit | -5.61× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-905.0K | $-21.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-897.0K | $908.0K | ||
| Q3 25 | $1.8M | $-785.0K | ||
| Q2 25 | $-515.0K | $-3.5M | ||
| Q1 25 | $-699.0K | $-17.0M | ||
| Q4 24 | $3.8M | $-8.6M | ||
| Q3 24 | $498.0K | $-5.4M | ||
| Q2 24 | $-3.0M | $-5.0M | ||
| Q1 24 | $175.0K | $-12.0M |
| Q4 25 | $-1.1M | $692.0K | ||
| Q3 25 | $1.6M | $-899.0K | ||
| Q2 25 | $-570.0K | $-3.8M | ||
| Q1 25 | $-750.0K | $-17.2M | ||
| Q4 24 | $3.7M | $-8.7M | ||
| Q3 24 | $493.0K | $-5.8M | ||
| Q2 24 | $-3.0M | $-5.6M | ||
| Q1 24 | $144.0K | $-12.4M |
| Q4 25 | -5.4% | 1.7% | ||
| Q3 25 | 7.9% | -2.4% | ||
| Q2 25 | -2.9% | -9.9% | ||
| Q1 25 | -3.6% | -53.8% | ||
| Q4 24 | 19.1% | -38.6% | ||
| Q3 24 | 2.5% | -31.3% | ||
| Q2 24 | -15.0% | -34.0% | ||
| Q1 24 | 0.5% | -71.1% |
| Q4 25 | 1.2% | 0.5% | ||
| Q3 25 | 1.3% | 0.3% | ||
| Q2 25 | 0.3% | 0.7% | ||
| Q1 25 | 0.2% | 0.7% | ||
| Q4 24 | 0.1% | 0.4% | ||
| Q3 24 | 0.0% | 2.1% | ||
| Q2 24 | 0.1% | 3.7% | ||
| Q1 24 | 0.1% | 2.2% |
| Q4 25 | -5.61× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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% |
STIM
Segment breakdown not available.
