XML 36 R29.htm IDEA: XBRL DOCUMENT

REVENUE (Tables)

9 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following tables provide detail of Orion’s total revenue for the three and nine months ended December 31, 2025 and December 31, 2024 (dollars in thousands):


		Three Months Ended December 31, 2025												Nine Months Ended December 31, 2025
		Product				Services				Total				Product				Services				Total
Revenue from contracts with customers:
Lighting product and installation		$	8,930			$	2,936			$	11,866			$	27,401			$	7,740			$	35,141
Maintenance services			2,165				2,191				4,356				5,711				7,133				12,844
Electric vehicle charging			3,336				1,323				4,659				7,373				4,746				12,119
Solar energy related revenues			7				—				7				11				—				11
Total revenues from contracts with customers			14,438				6,450				20,888				40,496				19,619				60,115
Revenue accounted for under other guidance			201				—				201				468				—				468
Total revenue		$	14,639			$	6,450			$	21,089			$	40,964			$	19,619			$	60,583

		Three Months Ended December 31, 2024												Nine Months Ended December 31, 2024
		Product				Services				Total				Product				Services				Total
Revenue from contracts with customers:
Lighting product and installation		$	11,291			$	1,754			$	13,045			$	30,636			$	5,725			$	36,361
Maintenance services			1,672				2,253				3,925				3,795				7,250				11,045
Electric vehicle charging			1,176				1,269				2,445				4,567				6,434				11,001
Solar energy related revenues			—				—				—				17				—				17
Total revenues from contracts with customers			14,139				5,276				19,415				39,015				19,409				58,424
Revenue accounted for under other guidance			169				—				169				427				—				427
Total revenue		$	14,308			$	5,276			$	19,584			$	39,442			$	19,409			$	58,851

Summary of Contract Assets and Liabilities

The following chart shows the balance of Orion’s receivables arising from contracts with customers, contract assets and contract liabilities as of December 31, 2025 and March 31, 2025 (dollars in thousands):


		December 31, 2025				March 31, 2025				March 31, 2024
Accounts receivable, net		$	13,249			$	12,845			$	14,022
Revenue earned but not billed (1)		$	3,611			$	2,908			$	4,539
Deferred revenue (2)		$	114			$	367			$	124

(1) Within the revenue earned but not billed line on the Condensed Consolidated Balance Sheets, $0.0 million and $0.7 million was accounted for as a sales type lease under ASC 842 for December 31, 2025 and March 31, 2025, respectively, and therefore not considered a "contract asset", which is an asset defined by ASC 606.

(2) Includes the unamortized portion of the funds received from the federal government in 2010 and 2011 as reimbursement for the costs to build the two facilities related to the power purchase agreements. As the transaction is not considered a contract with a customer, this value is not a contract liability as defined by ASC 606.