As of June 30, 2025, and March 31, 2025, accrued expenses and other included the following (dollars in thousands):


	June 30, 2025		March 31, 2025
Accrued acquisition earn-out	$	3,263	$	3,263
Other accruals		2,013		2,180
Compensation and benefits		3,251		2,424
Credits due to customers		1,562		1,581
Accrued project costs		2,113		2,283
Warranty		446		449
Sales returns reserve		86		273
Sales tax		258		177
Legal and professional fees		180		98
Total	$	13,172	$	12,728

Orion generally offers a limited warranty of one to ten years on its lighting products, including the pass-through of standard warranties offered by major original equipment component manufacturers. The manufacturers’ warranties cover lamps, power supplies, LED modules, chips and drivers, control devices, and other fixture related items, which are significant components in Orion's lighting products.

Changes in Orion’s warranty accrual (both current and long-term) were as follows (dollars in thousands):


	For the Three Months Ended June 30,
	2025			2024
Beginning of period	$	639		$	725
Accruals		69			108
Warranty claims (net of vendor reimbursements)		(71	)		(105	)
End of period	$	637		$	728

Effective on October 5, 2022, Orion acquired all the membership interests of Voltrek, an electric vehicle charging station solutions provider (the “Voltrek Acquisition”). The Voltrek Acquisition agreement provided that, depending upon the relative EBITDA growth of Voltrek’s business in fiscal 2023, 2024 and 2025, Orion could pay up to an additional $3.0 million, $3.5 million and $7.15 million, respectively, in earn-out payments. These compensatory payments do not fall within the scope of ASC 805, Business Combinations, and have been, and will be, expensed over the course of the earn-out periods to the extent they were or are earned. As of June 30, 2025, Orion has recorded $3.3 million of accrued acquisition earn-out expense that remains unpaid. On June 23, 2025, we entered into a binding term sheet (the "Term Sheet") with respect to our remaining earn-out obligations owed to Final Frontier pursuant to the Voltrek Acquisition, and on July 31, 2025, we entered into an amendment to the Term Sheet (the "Term Sheet Amendment"), each as further described in Note 12 below.