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SEGMENT DATA (Tables)

9 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Information

Corporate and other is comprised of operating expenses not allocated to Orion’s segments and adjustments to reconcile to consolidated results.

Three Months Ended December 31, 2025
(dollars in thousands)
	Lighting			Maintenance			EV			Corporate and Other			Total
Product revenue	$	9,138		$	2,165		$	3,336		$	—		$	14,639
Service revenue		2,936			2,191			1,323			—			6,450
Total revenue		12,074			4,356			4,659			—			21,089
Cost of product revenue		6,679			1,151			1,950			—			9,780
Cost of service revenue		1,843			1,957			1,002			—			4,802
Total cost of revenue		8,522			3,108			2,952			—			14,582
Gross profit		3,552			1,248			1,707			—			6,507
Operating expenses:
General and administrative		1,424			532			713			716			3,385
Sales and marketing		2,014			112			267			106			2,499
Research and development		116			36			21			64			237
Total operating expenses		3,554			680			1,001			886			6,121
Income (loss) from operations		(2	)		568			706			(886	)		386
Other income (expense):
Royalty income														46
Interest expense														(203	)
Amortization of debt issue cost														(51	)
Total other expense														(208	)
Income before income tax													$	178

Three Months Ended December 31, 2024
(dollars in thousands)
	Lighting			Maintenance			EV			Corporate and Other			Total
Product revenue	$	11,460		$	1,672		$	1,176		$	—		$	14,308
Service revenue		1,754			2,253			1,269			—			5,276
Total revenue		13,214			3,925			2,445			—			19,584
Cost of product revenue		7,878			784			685			—			9,347
Cost of service revenue		1,352			2,103			1,028			—			4,483
Total cost of revenue		9,230			2,887			1,713			—			13,830
Gross profit		3,984			1,038			732			—			5,754
Operating expenses:
General and administrative		1,330			523			1,370			634			3,857
Sales and marketing		2,079			166			501			113			2,859
Research and development		146			40			27			74			287
Total operating expenses		3,555			729			1,898			821			7,003
Income (loss) from operations		429			309			(1,166	)		(821	)		(1,249	)
Other income (expense):
Royalty income														45
Interest expense														(255	)
Interest income														1
Amortization of debt issue cost														(49	)
Total other expense														(258	)
Loss before income tax													$	(1,507	)

Nine Months Ended December 31, 2025
(dollars in thousands)
	Lighting			Maintenance			EV			Corporate and Other			Total
Product revenue	$	27,880		$	5,711		$	7,373		$	—		$	40,964
Service revenue		7,740			7,133			4,746			—			19,619
Total revenue		35,620			12,844			12,119			—			60,583
Cost of product revenue		19,881			3,128			4,370			—			27,379
Cost of service revenue		5,374			6,296			2,949			—			14,619
Total cost of revenue		25,255			9,424			7,319			—			41,998
Gross profit		10,365			3,420			4,800						18,585
Operating expenses:
General and administrative		4,813			1,731			2,482			2,461			11,487
Sales and marketing		5,882			332			753			326			7,293
Research and development		330			103			59			182			674
Total operating expenses		11,025			2,166			3,294			2,969			19,454
Income (loss) from operations		(660	)		1,254			1,506			(2,969	)		(869	)
Other income (expense):
Royalty income														49
Interest expense														(652	)
Amortization of debt issue cost														(152	)
Total other expense														(755	)
Loss before income tax													$	(1,624	)

Nine Months Ended December 31, 2024
(dollars in thousands)
	Lighting			Maintenance			EV			Corporate and Other			Total
Product revenue	$	31,080		$	3,795		$	4,567		$	—		$	39,442
Service revenue		5,725			7,250			6,434			—			19,409
Total revenue		36,805			11,045			11,001			—			58,851
Cost of product revenue		21,958			2,007			2,844			—			26,809
Cost of service revenue		5,227			7,292			5,022			—			17,541
Total cost of revenue		27,185			9,299			7,866			—			44,350
Gross profit		9,620			1,746			3,135						14,501
Operating expenses:
General and administrative		4,516			2,169			4,007			2,278			12,970
Sales and marketing		6,731			478			1,051			384			8,644
Research and development		428			118			78			216			840
Total operating expenses		11,675			2,765			5,136			2,878			22,454
Loss from operations		(2,055	)		(1,019	)		(2,001	)		(2,878	)		(7,953	)
Other income (expense):
Royalty income														61
Interest expense														(800	)
Interest income														1
Amortization of debt issue cost														(155	)
Total other expense														(893	)
Loss before income tax													$	(8,846	)

		Depreciation and Amortization								Capital Expenditures
		Nine Months Ended December 31,								Nine Months Ended December 31,
(dollars in thousands)		2025				2024				2025				2024
Segments:
Lighting Segment		$	487			$	596			$	55			$	12
Maintenance Segment			146				289				4				1
EV Segment			632				777				—				-
Corporate and Other			212				206				(1	)			35
		$	1,477			$	1,868			$	58			$	48

		Total Assets
(dollars in thousands)		December 31, 2025				March 31, 2025
Segments:
Lighting Segment		$	18,074			$	20,646
Maintenance Segment			5,833				4,384
EV Segment			10,043				11,963
Corporate and Other			14,301				15,470
		$	48,251			$	52,463

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

No definition available.

+ Details

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