v3.26.1
REVENUE (Tables)
 3 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue

The following tables provide detail of Orion’s total revenue for the three months ended June 30, 2026 and June 30, 2025 (dollars in thousands):

 

 

 

Three Months Ended June 30, 2026

 

 

 

Product

 

 

Services

 

 

Total

 

Revenue from contracts with customers:

 

 

 

 

 

 

 

 

 

Lighting product and installation

 

$

10,785

 

 

$

6,882

 

 

$

17,667

 

Maintenance services

 

 

1,617

 

 

 

2,479

 

 

 

4,096

 

Electric vehicle charging

 

 

1,817

 

 

 

2,163

 

 

 

3,980

 

Total revenues from contracts with customers

 

 

14,219

 

 

 

11,524

 

 

 

25,743

 

Revenue accounted for under other guidance

 

 

—

 

 

 

—

 

 

 

—

 

Total revenue

 

$

14,219

 

 

$

11,524

 

 

$

25,743

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2025

 

 

 

Product

 

 

Services

 

 

Total

 

Revenue from contracts with customers:

 

 

 

 

 

 

 

 

 

Lighting product and installation

 

$

10,269

 

 

$

2,447

 

 

$

12,716

 

Maintenance services

 

 

1,501

 

 

 

2,496

 

 

 

3,997

 

Electric vehicle charging

 

 

1,576

 

 

 

1,120

 

 

 

2,696

 

Total revenues from contracts with customers

 

 

13,346

 

 

 

6,063

 

 

 

19,409

 

Revenue accounted for under other guidance

 

 

166

 

 

 

—

 

 

 

166

 

Total revenue

 

$

13,512

 

 

$

6,063

 

 

$

19,575

 
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 June 30, 2026 and March 31, 2026 (dollars in thousands):

 

 

 

June 30,
2026

 

 

March 31,
2026

 

 

March 31,
2025

 

Accounts receivable, net

 

$

14,386

 

 

$

16,340

 

 

$

12,845

 

Revenue earned but not billed (1)

 

$

7,411

 

 

$

6,409

 

 

$

2,908

 

Deferred revenue (2)

 

$

96

 

 

$

107

 

 

$

367

 

 

(1) Within the revenue earned but not billed line on the Condensed Consolidated Balance Sheets, $0 million, $0 million, and $0.4 million was accounted for as a sales type lease under ASC 842 for June 30, 2026, March 31, 2026, and March 31, 2025, respectively, and therefore not considered a "contract asset", which is an asset defined by ASC 606.

(2) Fiscal 2025 included 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.