Orbital energy group reports record revenues in first quarter 2022 of $70.3 million

Records positive adjusted ebitda of $3.8 million and reiterates full-year 2022 financial guidance houston , may 16, 2022 /prnewswire/ -- orbital energy group, inc. (nasdaq: oeg) ("orbital energy" or the "company") today reported its financial results for the first quarter ended march 31, 2022. first quarter summary revenues of $70.3 million, compared to $41.0 million in the prior quarter and $5.6 million for the first quarter of 2021; gross profit of $11.6 million compared to a gross loss of $2.5 million in the first quarter of 2021; operating loss of $1.8 million, an improvement of $13.8 million from the first quarter of 2021; loss from continuing operations, net of income taxes of $36.7 million, including a non-cash charge of $26.0 million.
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