Orion Energy Systems (OESX) 10-Q 9 Feb 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2022	Jan. 31, 2023
Cover [Abstract]
Entity Registrant Name	Orion Energy Systems, Inc.
Entity Central Index Key	0001409375
Document Type	10-Q
Document Period End Date	Dec. 31, 2022
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--03-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding		32,292,974
Entity File Number	001-33887
Entity Tax Identification Number	39-1847269
Entity Address, Address Line One	2210 Woodland Drive
Entity Address, City or Town	Manitowoc
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	54220
City Area Code	920
Local Phone Number	892-9340
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	WI
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Common stock, no par value
Trading Symbol	OESX
Security Exchange Name	NASDAQ

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Assets
Cash and cash equivalents	$ 8,142	$ 14,466
Accounts receivable, net	13,688	11,899
Revenue earned but not billed	3,107	2,421
Inventories, net	19,305	19,832
Prepaid expenses and other current assets	2,347	2,631
Total current assets	46,589	51,249
Property and equipment, net	10,679	11,466
Goodwill	1,425	350
Other intangible assets, net	6,184	2,404
Deferred tax assets	0	17,805
Other long-term assets	3,450	3,543
Total assets	68,327	86,817
Liabilities and Shareholders’ Equity
Accounts payable	13,458	9,855
Accrued expenses and other	8,415	8,427
Deferred revenue, current	174	76
Current maturities of long-term debt	16	16
Total current liabilities	22,063	18,374
Revolving credit facility	5,000	0
Long-term debt, less current maturities	7	19
Deferred revenue, long-term	507	564
Other long-term liabilities	2,597	2,760
Total liabilities	30,174	21,717
Commitments and contingencies
Shareholders’ equity:
Preferred stock, $0.01 par value: Shares authorized: 30,000,000 at December 31, 2022 and March 31, 2022; no shares issued and outstanding at December 31, 2022 and March 31, 2022	0	0
Common stock, no par value: Shares authorized: 200,000,000 at December 31, 2022 and March 31, 2022; shares issued: 41,764,220 at December 31, 2022 and 40,570,909 at March 31, 2022; shares outstanding: 32,291,974 at December 31, 2022 and 31,097,872 at March 31, 2022	0	0
Additional paid-in capital	160,696	158,419
Treasury stock, common shares: 9,472,246 at December 31, 2022 and 9,473,037 at March 31, 2022	(36,238)	(36,239)
Retained deficit	(86,305)	(57,080)
Total shareholders’ equity	38,153	65,100
Total liabilities and shareholders’ equity	$ 68,327	$ 86,817

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2022	Mar. 31, 2022
Statement Of Financial Position [Abstract]
Preferred stock, par value (USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	30,000,000	30,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (USD per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	41,764,220	40,570,909
Common stock, shares outstanding (in shares)	32,291,974	31,097,872
Treasury stock (in shares)	9,472,246	9,473,037

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Revenues	$ 20,288	$ 30,714	$ 55,754	$ 102,325
Cost of revenue	15,507	23,073	42,984	73,666
Gross profit	4,781	7,641	12,770	28,659
Operating expenses:
General and administrative	3,984	2,873	11,683	8,737
Acquisition related costs	1,993	178	2,340	178
Sales and marketing	2,983	2,862	8,521	8,794
Research and development	409	396	1,374	1,169
Total operating expenses	9,369	6,309	23,918	18,878
(Loss) income from operations	(4,588)	1,332	(11,148)	9,781
Other income (expense):
Other income	0	0	0	1
Interest expense	(64)	(26)	(97)	(59)
Amortization of debt issue costs	(16)	(15)	(47)	(46)
Total other expense	(80)	(41)	(144)	(104)
(Loss) income before income tax	(4,668)	1,291	(11,292)	9,677
Income tax expense	19,391	189	17,933	2,406
Net (loss) income	$ (24,059)	$ 1,102	$ (29,225)	$ 7,271
Basic net (loss) income per share attributable to common shareholders	$ (0.75)	$ 0.04	$ (0.93)	$ 0.23
Weighted-average common shares outstanding	32,047,755	31,084,710	31,510,547	30,992,475
Diluted net (loss) income per share	$ (0.75)	$ 0.04	$ (0.93)	$ 0.23
Weighted-average common shares and share equivalents outstanding	32,047,755	31,234,925	31,510,547	31,273,703
Product revenue
Revenues	$ 15,399	$ 22,203	$ 41,715	$ 78,260
Cost of revenue	11,480	16,427	31,152	54,724
Service revenue
Revenues	4,889	8,511	14,039	24,065
Cost of revenue	$ 4,027	$ 6,646	$ 11,832	$ 18,942

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock, Shares	Common Stock, Additional Paid-in Capital	Treasury Stock	Retained Deficit
Shareholders' equity, beginning of period at Mar. 31, 2021	$ 58,074		$ 157,485	$ (36,240)	$ (63,171)
Shareholders' equity, beginning of period (Shares) at Mar. 31, 2021		30,805,300
Exercise of stock options for cash	101		101
Exercise of stock options for cash (shares)		24,045
Shares issued under Employee Stock Purchase Plan	3			3
Shares issued under Employee Stock Purchase Plan (shares)		496
Stock-based compensation	160		160
Stock-based compensation (shares)		171,470
Employee tax withholdings on stock-based compensation	(4)			(4)
Employee tax withholdings on stock-based compensation (shares)		(610)
Net income (loss)	2,510				2,510
Shareholders' equity, end of period at Jun. 30, 2021	60,844		157,746	(36,241)	(60,661)
Shareholders' equity, at end of period (shares) at Jun. 30, 2021		31,000,701
Shareholders' equity, beginning of period at Mar. 31, 2021	58,074		157,485	(36,240)	(63,171)
Shareholders' equity, beginning of period (Shares) at Mar. 31, 2021		30,805,300
Net income (loss)	7,271
Shareholders' equity, end of period at Dec. 31, 2021	66,055		158,197	(36,242)	(55,900)
Shareholders' equity, at end of period (shares) at Dec. 31, 2021		31,094,688
Shareholders' equity, beginning of period at Jun. 30, 2021	60,844		157,746	(36,241)	(60,661)
Shareholders' equity, beginning of period (Shares) at Jun. 30, 2021		31,000,701
Exercise of stock options for cash	18		18
Exercise of stock options for cash (shares)		7,000
Shares issued under Employee Stock Purchase Plan	1			1
Shares issued under Employee Stock Purchase Plan (shares)		327
Stock-based compensation	211		211
Stock-based compensation (shares)		55,896
Employee tax withholdings on stock-based compensation	(1)			(1)
Employee tax withholdings on stock-based compensation (shares)		(294)
Net income (loss)	3,659				3,659
Shareholders' equity, end of period at Sep. 30, 2021	64,732		157,975	(36,241)	(57,002)
Shareholders' equity, at end of period (shares) at Sep. 30, 2021		31,063,630
Exercise of stock options for cash	2		2
Exercise of stock options for cash (shares)		800
Shares issued under Employee Stock Purchase Plan	1			1
Shares issued under Employee Stock Purchase Plan (shares)		355
Stock-based compensation	220		220
Stock-based compensation (shares)		32,648
Employee tax withholdings on stock-based compensation	(2)			(2)
Employee tax withholdings on stock-based compensation (shares)		(2,745)
Net income (loss)	1,102				1,102
Shareholders' equity, end of period at Dec. 31, 2021	66,055		158,197	(36,242)	(55,900)
Shareholders' equity, at end of period (shares) at Dec. 31, 2021		31,094,688
Shareholders' equity, beginning of period at Mar. 31, 2022	65,100		158,419	(36,239)	(57,080)
Shareholders' equity, beginning of period (Shares) at Mar. 31, 2022		31,097,872
Exercise of stock options for cash	54		54
Exercise of stock options for cash (shares)		26,646
Shares issued under Employee Stock Purchase Plan	$ 1			1
Shares issued under Employee Stock Purchase Plan (shares)	443	443
Stock-based compensation	$ 254		254
Stock-based compensation (shares)		125,744
Employee tax withholdings on stock-based compensation	(2)			(2)
Employee tax withholdings on stock-based compensation (shares)		634
Net income (loss)	(2,835)				(2,835)
Shareholders' equity, end of period at Jun. 30, 2022	62,572		158,727	(36,240)	(59,915)
Shareholders' equity, at end of period (shares) at Jun. 30, 2022		31,250,071
Shareholders' equity, beginning of period at Mar. 31, 2022	$ 65,100		$ 158,419	$ (36,239)	$ (57,080)
Shareholders' equity, beginning of period (Shares) at Mar. 31, 2022		31,097,872
Shares issued under Employee Stock Purchase Plan (shares)	1,712
Net income (loss)	$ (29,225)
Shareholders' equity, end of period at Dec. 31, 2022	$ 38,153
Shareholders' equity, at end of period (shares) at Dec. 31, 2022	38,153	32,291,974	160,696	(36,238)	(86,305)
Shareholders' equity, beginning of period at Jun. 30, 2022	$ 62,572		$ 158,727	$ (36,240)	$ (59,915)
Shareholders' equity, beginning of period (Shares) at Jun. 30, 2022		31,250,071
Shares issued under Employee Stock Purchase Plan	$ 1			1
Shares issued under Employee Stock Purchase Plan (shares)	648	648
Stock-based compensation	$ 733		733
Stock-based compensation (shares)		105,192
Net income (loss)	(2,331)				(2,331)
Shareholders' equity, end of period at Sep. 30, 2022	60,975		159,460	(36,239)	(62,246)
Shareholders' equity, at end of period (shares) at Sep. 30, 2022		31,355,911
Issuance of common stock for acquisition, (shares)		620,067
Issuance of common stock for acquisition	770		770
Issuance of common stock for services, (shares)		10,976
Issuance of common stock for services	18		18
Shares issued under Employee Stock Purchase Plan	$ 1			$ 1
Shares issued under Employee Stock Purchase Plan (shares)	621	621
Stock-based compensation	$ 448		$ 448
Stock-based compensation (shares)		304,686
Employee tax withholdings on stock-based compensation (shares)		287
Net income (loss)	(24,059)				$ (24,059)
Shareholders' equity, end of period at Dec. 31, 2022	$ 38,153
Shareholders' equity, at end of period (shares) at Dec. 31, 2022	38,153	32,291,974	160,696	(36,238)	(86,305)

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating activities
Net (loss) income	$ (29,225)	$ 7,271
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation	974	936
Amortization of intangible assets	373	158
Stock-based compensation	1,435	591
Amortization of debt issue costs	47	46
Deferred income tax	17,804	2,340
Gain (loss) on sale of property and equipment	10	(77)
Provision for inventory reserves	407	426
Provision for bad debts	25	8
Other	150	30
Changes in operating assets and liabilities:
Accounts receivable	(431)	1,276
Revenue earned but not billed	(321)	(930)
Inventories	1,001	383
Prepaid expenses and other assets	609	(1,292)
Accounts payable	2,418	(5,231)
Accrued expenses and other	(566)	(3,651)
Deferred revenue, current and long-term	42	31
Net cash (used in) provided by operating activities	(5,248)	(2,315)
Investing activities
Cash to fund acquisition, net of cash received	(5,508)	(3,697)
Cash paid for investment	0	(500)
Purchases of property and equipment	(573)	(465)
Additions to patents and licenses	(9)	(8)
Proceeds from sale of property, plant and equipment	0	122
Net cash used in investing activities	(6,090)	(4,548)
Financing activities
Payment of long-term debt	(12)	(11)
Proceeds from revolving credit facility	5,000	0
Payments of revolving credit facility	0	0
Payments to settle employee tax withholdings on stock-based compensation	(2)	(7)
Deferred financing costs	(29)	(4)
Proceeds from employee equity exercises	57	126
Net cash provided by financing activities	5,014	104
Net decrease in cash and cash equivalents	(6,324)	(2,129)
Cash and cash equivalents at beginning of period	14,466	19,393
Cash and cash equivalents at end of period	8,142	17,264
Supplemental disclosure of non-cash investing and financing activities:
Issuance of common stock in connection with acquisition	$ 770	$ 0

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	9 Months Ended
	Dec. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	NOTE 1 — DESCRIPTION OF BUSINESS Orion includes Orion Energy Systems, Inc., a Wisconsin corporation, and all consolidated subsidiaries. Orion is a provider of energy-efficient LED lighting and controls, maintenance services and electrical vehicle (EV) charging station solutions to commercial and industrial businesses, and federal and local governments, predominantly in North America.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation The consolidated financial statements include the accounts of Orion and its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements of Orion have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information and with the rules and regulations of the Securities and Exchange Commission (SEC). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair statement have been included. Interim results are not necessarily indicative of results that may be expected for the fiscal year ending March 31, 2023 or other interim periods. The Condensed Consolidated Balance Sheet as of March 31, 2022 has been derived from the audited consolidated financial statements at that date but does not include all of the information required by GAAP for complete financial statements. The accompanying unaudited Condensed Consolidated Financial Statements should be read in conjunction with the audited consolidated financial statements and footnotes thereto included in Orion’s Annual Report on Form 10-K for the fiscal year ended March 31, 2022 filed with the SEC on June 10, 2022. Acquisition Related Costs Acquisition related costs includes various acquisition related costs, including legal fees, consulting and success fees, earn-out expenses, and other non-recurring integration related costs. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during that reporting period. Areas that require the use of significant management estimates include revenue recognition, inventory obsolescence, allowance for doubtful accounts, accruals for warranty and loss contingencies, income taxes, impairment analyses, and certain equity transactions. Accordingly, actual results could differ from those estimates. Concentration of Credit Risk and Other Risks and Uncertainties Orion's cash is primarily deposited with one financial institution. At times, deposits in this institution exceeds the amount of insurance provided on such deposits. Orion has not experienced any losses in such accounts and believes that it is not exposed to any significant financial institution viability risk on these balances. Orion purchases components necessary for its lighting products, including lamps and LED components, from multiple suppliers. For the three months ended December 31, 2022 , one supplier accounted for 13.3 % of total cost of revenue. For the nine months ended December 31, 2022 , no suppliers accounted for more than 10.0 % of total cost of revenue. For the three and nine months ended December 31, 2021 , no suppliers accounted for more than 10.0 % of total cost of revenue. For the three and nine months ended December 31, 2022 , one customer accounted for 18.2 % and 16.1 % of total revenue, respectively. For the three and nine months ended December 31, 2021 , one customer accounted for 48.6 % and 53.0 % of total revenue, respectively. As of December 31, 2022 , one customer accounted for 12.3 % of accounts receivable, respectively. As of March 31, 2022 , two customers accounted for 11.8 % and 10.4 % of accounts receivable, respectively. Recent Accounting Pronouncements Issued: Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which requires an entity to assess impairment of its financial instruments based on its estimate of expected credit losses. Since the issuance of ASU 2016-13, the FASB released several amendments to improve and clarify the implementation guidance. The provisions of ASU 2016-13 and the related amendments are effective for Orion for fiscal years (and interim reporting periods within those years) beginning after December 15, 2022. Entities are required to apply these changes through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. Orion is currently evaluating the impact of adoption of this standard on its consolidated statements of operations, cash flows and the related footnote disclosures. In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”), which requires an entity to use the guidance in ASC 606, Revenue from Contracts with Customers, rather than using fair value, when recognizing and measuring contract assets and contract liabilities related to customer contracts assumed in a business combination. The provisions of ASU 2021-08 are effective for Orion for fiscal years (and interim reporting periods within those years) beginning after December 15, 2022. Orion is currently evaluating the impact of adoption of this standard on its consolidated balance sheet.

REVENUE

REVENUE	9 Months Ended
	Dec. 31, 2022
Revenue From Contract With Customer [Abstract]
REVENUE	NOTE 3 — REVENU E Orion generates revenue primarily by selling manufactured or sourced commercial lighting fixtures and components, sourced electric vehicle chargers and related products, installing these products in customer’s facilities, and providing maintenance services including repairs and replacements for the lighting and related electrical components. Orion recognizes revenue in accordance with the guidance in “Revenue from Contracts with Customers” (Topic 606) (“ASC 606”) when control of the goods or services being provided (which we refer to as a performance obligation) is transferred to a customer at an amount that reflects the consideration Orion expects to receive in exchange for those goods or services. During the third quarter of fiscal 2023, Orion acquired Voltrek LLC ("Voltrek"), which sells and installs sourced electric vehicle charging stations and related software subscriptions and renewals. The results of Voltrek are included in the Orion EV segment and compliment Orion’s existing turnkey installation model. The sale of charging stations and related software subscriptions and renewals is presented in Product revenue. Orion is the principal in the sales of charging stations as it has control of the physical products prior to transfer to the customer. Accordingly, revenue is recognized on a gross basis. For certain sales, primarily software subscriptions and renewals, Orion is the sales agent providing access to the content and recognize commission revenue net of amounts due to third parties who fulfill the performance obligation. For these sales, control passes at the point in time upon providing access of the content to the customer. The sale of installation and services related to the EV charging business is presented in Service revenue. Revenue from the EV segment that includes both the sale of product and service is allocated between the product and service performance obligations based on relative standalone selling prices, and is recorded in Product revenue and Service revenue, respectively, in the Condensed Consolidated Statement of Operations. During the fourth quarter of fiscal 2022, Orion acquired Stay-Lite Lighting, Inc. ("Stay-Lite Lighting"), which provides lighting and electrical maintenance services. The results of Stay-Lite Lighting are included in the Orion Services Group segment and accelerate the growth of Orion’s maintenance services customer offering. The disaggregated revenue table provides total revenue from the maintenance services offering. Revenue from the maintenance offering that includes both the sale of Orion manufactured or sourced product and service is allocated between the product and service performance obligations based on relative standalone selling prices, and is recorded in Product revenue and Service revenue, respectively, in the Condensed Consolidated Statement of Operations. The following tables provide detail of Orion’s total revenue for the three and nine months ended December 31, 2022 and December 31, 2021 (dollars in thousands): Three Months Ended December 31, 2022 Nine Months Ended December 31, 2022 Product Services Total Product Services Total Revenue from contracts with customers: Lighting product and installation $ 11,543 $ 1,679 $ 13,222 $ 36,006 $ 5,073 $ 41,079 Maintenance services 772 2,534 3,306 2,516 8,290 10,806 Electric vehicle charging 2,154 676 2,830 2,154 676 2,830 Total revenues from contracts with customers 14,469 4,889 19,358 40,676 14,039 54,715 Revenue accounted for under other guidance 930 — 930 1,039 — 1,039 Total revenue $ 15,399 $ 4,889 $ 20,288 $ 41,715 $ 14,039 $ 55,754 Three Months Ended December 31, 2021 Nine Months Ended December 31, 2021 Product Services Total Product Services Total Revenue from contracts with customers: Lighting product and installation $ 21,829 $ 7,699 $ 29,528 $ 76,704 $ 22,665 $ 99,369 Maintenance services 200 812 1,012 268 1,400 1,668 Solar energy related revenues 8 — 8 36 — 36 Total revenues from contracts with customers 22,037 8,511 30,548 77,008 24,065 101,073 Revenue accounted for under other guidance 166 — 166 1,252 — 1,252 Total revenue $ 22,203 $ 8,511 $ 30,714 $ 78,260 $ 24,065 $ 102,325 From time to time, Orion sells the receivables from one customer to a financing institution. The was no such activity during the three and nine months ended December 31, 2022. The total amount received from the sales of these receivables during the three and nine months ended December 31, 2021 was $ 0 and $ 2.4 million, respectively. Orion’s losses on these sales were $ 9 thousand and $ 8 thousand, for the three and nine months ended December 31, 2021, respectively, and are included in Interest expense in the Condensed Consolidated Statement of Operations. The following chart shows the balance of Orion’s receivables arising from contracts with customers, contract assets and contract liabilities as of December 31, 2022 and March 31, 2022 (dollars in thousands): December 31, March 31, Accounts receivable, net $ 13,688 $ 11,899 Contract assets $ 2,187 $ 1,966 Contract liabilities $ 99 $ — There were no significant changes in the contract assets outside of standard reclassifications to accounts receivable, net upon billing. There were no significant changes to contract liabilities.

ACCOUNTS RECEIVABLE, NET

ACCOUNTS RECEIVABLE, NET	9 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
ACCOUNTS RECEIVABLE, NET	NOTE 4 — ACCOUNTS RECEIVABLE, NET As of December 31, 2022 and March 31, 2022, Orion's accounts receivable and allowance for doubtful accounts balances were as follows (dollars in thousands): December 31, March 31, Accounts receivable, gross $ 13,744 $ 11,907 Allowance for doubtful accounts ( 56 ) ( 8 ) Accounts receivable, net $ 13,688 $ 11,899

INVENTORIES, NET

INVENTORIES, NET	9 Months Ended
	Dec. 31, 2022
Inventory Disclosure [Abstract]
INVENTORIES, NET	NOTE 5 — INVENTORIES, NET As of December 31, 2022 and March 31, 2022, Orion's inventory balances were as follows (dollars in thousands): Cost Excess and Net As of December 31, 2022 Raw materials and components $ 10,456 $ ( 943 ) $ 9,513 Work in process 1,128 ( 131 ) 997 Finished goods 9,377 ( 582 ) 8,795 Total $ 20,961 $ ( 1,656 ) $ 19,305 As of March 31, 2022 Raw materials and components $ 10,781 $ ( 1,140 ) $ 9,641 Work in process 1,529 ( 267 ) 1,262 Finished goods 9,593 ( 664 ) 8,929 Total $ 21,903 $ ( 2,071 ) $ 19,832

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	9 Months Ended
	Dec. 31, 2022
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
PREPAID EXPENSES AND OTHER CURRENT ASSETS	NOTE 6 — PREPAID EXPENSES AND OTHER CURRENT ASSETS As of December 31, 2022 and March 31, 2022, prepaid expenses and other current assets include the following (dollars in thousands): December 31, March 31, Payroll tax credit $ 1,587 $ 1,587 Other prepaid expenses 760 1,044 Total $ 2,347 $ 2,631

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	9 Months Ended
	Dec. 31, 2022
Property Plant And Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	NOTE 7 — PROPERTY AND EQUIPMENT, NET As of December 31, 2022 and March 31, 2022, property and equipment, net, included the following (dollars in thousands): December 31, March 31, Land and land improvements $ 433 $ 433 Buildings and building improvements 9,491 9,491 Furniture, fixtures and office equipment 7,772 7,650 Leasehold improvements 540 490 Equipment leased to customers 4,997 4,997 Plant equipment 11,212 11,130 Vehicles 617 796 Construction in Progress 2 3 Gross property and equipment 35,064 34,990 Less: accumulated depreciation ( 24,385 ) ( 23,524 ) Total property and equipment, net $ 10,679 $ 11,466 As of December 31, 2022, due to a change in Orion's forecast, a triggering event occurred requiring Orion to evaluate the long-lived assets in its enterprise asset group for impairment. The enterprise asset group includes the corporate assets that support the revenue producing activities of other asset groups. Orion performed the recoverability test for the asset group by comparing its carrying value to the group’s expected future undiscounted cash flows. Orion concluded that the undiscounted cash flows of the long-lived asset group exceeded its carrying value. As such the asset group was deemed recoverable and no impairment was recorded.

LEASES

LEASES	9 Months Ended
	Dec. 31, 2022
Leases [Abstract]
LEASES	NOTE 8 — LEASES From time to time, Orion leases assets from third parties. Orion also leases certain assets to third parties. Orion accounts for leases in accordance with ASC 842. Under ASC 842, both finance and operating lease ROU assets and lease liabilities for leases with initial terms in excess of 12 months are recognized at the commencement date based on the present value of lease payments over the lease term. Orion recognizes lease expense for leases with an initial term of 12 months or less, referred to as short term leases, on a straight-line basis over the lease term. A summary of Orion’s assets leased from third parties follows (dollars in thousands): Balance sheet classification December 31, 2022 March 31, 2022 Assets Operating lease assets Other long-term assets $ 2,366 $ 2,440 Liabilities Current liabilities Operating lease liabilities Accrued expenses and other $ 830 $ 768 Non-current liabilities Operating lease liabilities Other long-term liabilities 2,038 2,271 Total lease liabilities $ 2,868 $ 3,039 Orion had operating lease costs of $ 0.4 million and $ 1.2 million for the three and nine months ended December 31, 2022 . Orion had operating lease costs of $ 0.2 million and $ 0.7 million for the three and nine months ended December 31, 2021. The estimated maturity of lease liabilities for each of the next five years is shown below (dollars in thousands): Maturity of Lease Liabilities Operating Leases Fiscal 2023 $ 255 Fiscal 2024 957 Fiscal 2025 949 Fiscal 2026 845 Fiscal 2027 142 Total lease payments $ 3,148 Less: Interest ( 280 ) Present value of lease liabilities $ 2,868 Assets Orion Leases to Other Parties One of Orion’s frequent customers purchases products and installation services under agreements that provide for monthly payments, at a fixed monthly amount, of the contract price, plus interest, typically over a five-year period. While Orion retains ownership of the light fixtures during the financing period, the transaction terms and the underlying economics associated with used lighting fixtures results in Orion essentially ceding ownership of the lighting fixtures to the customer after completion of the agreement. The portions of the transaction associated with the sale of the light fixtures is accounted for as a sales-type lease under ASC 842. The total transaction price in these contracts is allocated between the lease and non-lease components in the same manner as the total transaction price of other turnkey projects containing lighting fixtures and installation services. Revenues, and production and acquisition costs, associated with sales-type leases are included in Product revenue and Costs of product revenues in the Condensed Consolidated Statement of Operations. The following chart shows the amount of revenue and cost of sales arising from sales-type leases during the three and nine months ended December 31, 2022 and December 31, 2021 (dollars in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2022 2021 2022 2021 Product revenue $ 936 $ 342 $ 911 $ 993 Cost of product revenue 927 $ 306 927 $ 889

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS, NET	9 Months Ended
	Dec. 31, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS, NET	NOTE 9 — GOODWILL AND OTHER INTANGIBLE ASSETS, NET Orion has $ 0.9 million of goodwill related to its purchase of Voltrek in the third quarter of fiscal 2023, which has an indefinite life, and is assigned to the EV Charging operating segment. Orion has $ 0.6 million of goodwill related to its purchase of Stay-Light Lighting during fiscal year 2022, which has an indefinite life, and is assigned to the Orion Services Group operating segment. Goodwill related to the Stay-Light Lighting acquisition increased by $ 0.2 million to $ 0.6 million as compared to March 31, 2022. This increase was due to updates to purchase accounting within the measurement period. See Note 18 – Acquisition for further discussion of the Stay-Lite Lighting and Voltrek acquisitions. As of December 31, 2022 and March 31, 2022, the components of, and changes in, the carrying amount of other intangible assets, net, were as follows (dollars in thousands): December 31, 2022 March 31, 2022 Gross Carrying Accumulated Net Gross Carrying Accumulated Net Amortized Intangible Assets Patents $ 2,521 $ ( 1,905 ) $ 616 $ 2,652 $ ( 1,932 ) $ 720 Licenses 58 ( 58 ) — 58 ( 58 ) — Trade name and trademarks 564 ( 52 ) 512 118 ( 6 ) 112 Customer relationships 5,609 ( 3,784 ) 1,825 4,178 ( 3,618 ) 560 Vendor Relationship 2,300 ( 79 ) 2,221 — — — Developed technology 900 ( 900 ) — 900 ( 900 ) — Total Amortized Intangible Assets $ 11,952 $ ( 6,778 ) $ 5,174 $ 7,906 $ ( 6,514 ) $ 1,392 Indefinite-lived Intangible Assets Trade name and trademarks $ 1,010 $ — $ 1,010 $ 1,012 $ — $ 1,012 Total Non-Amortized Intangible Assets $ 1,010 $ — $ 1,010 $ 1,012 $ — $ 1,012 Amortization expense on intangible assets was $ 0.3 million and $ 0.4 million for the three and nine months ended December 31, 2022, respectively. Amortization expense on intangible assets was $ 0.1 million and $ 0.2 million for the three and nine months ended December 31, 2021, respectively. As of December 31, 2022, the weighted average remaining useful life of intangible assets was 5.7 years. The estimated amortization expense for the remainder of fiscal 2023, the next five fiscal years and beyond is shown below (dollars in thousands): Fiscal 2023 (period remaining) $ 277 Fiscal 2024 1,105 Fiscal 2025 1,096 Fiscal 2026 842 Fiscal 2027 566 Fiscal 2028 486 Thereafter 802 Total $ 5,174

ACCRUED EXPENSES AND OTHER

ACCRUED EXPENSES AND OTHER	9 Months Ended
	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
ACCRUED EXPENSES AND OTHER	NOTE 10 — ACCRUED EXPENSES AND OTHER As of December 31, 2022 and March 31, 2022, accrued expenses and other included the following (dollars in thousands): December 31, March 31, Accrued earnout $ 1,750 — Other accruals 1,633 $ 2,221 Compensation and benefits 1,552 1,668 Credits due to customers 1,399 1,209 Accrued project costs 852 2,215 Warranty 482 728 Sales returns reserve 400 123 Sales tax 239 157 Legal and professional fees 108 106 Total $ 8,415 $ 8,427 Accrued earnout is related to recent acquisitions. Refer to discussion of acquisitions at Note 18 - Acquisitions. 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 For the Nine Months Ended 2022 2021 2022 2021 Beginning of period $ 698 $ 1,014 $ 860 $ 1,009 Accruals 75 123 271 328 Warranty claims (net of vendor reimbursements) ( 149 ) ( 186 ) ( 507 ) ( 386 ) End of period $ 624 $ 951 $ 624 $ 951

NET (LOSS) INCOME PER COMMON SH

NET (LOSS) INCOME PER COMMON SHARE	9 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
NET (LOSS) INCOME PER COMMON SHARE	NOTE 11 — NET (LOSS) INCOME PER COMMON SHARE Basic net income per common share is computed by dividing net income attributable to common shareholders by the weighted-average number of common shares outstanding for the period and does not consider common stock equivalents. Diluted net income per common share reflects the dilution that would occur if stock options were exercised and restricted shares vested. In the computation of diluted net income per common share, Orion uses the treasury stock method for outstanding options and restricted shares. For the three and nine months ended December 31, 2022, Orion was in a net loss position; therefore, the Basic and Diluted weighted-average shares outstanding are equal because any increase to the basic shares would be anti-dilutive. Net income per common share is calculated based upon the following shares: For the Three Months Ended For the Nine Months Ended 2022 2021 2022 2021 Numerator: Net (loss) income (in thousands) $ ( 24,059 ) $ 1,102 $ ( 29,225 ) $ 7,271 Denominator: Weighted-average common shares outstanding 32,047,755 31,084,710 31,510,547 30,992,475 Weighted-average common shares and common share 32,047,755 31,234,925 31,510,547 31,273,703 Net (loss) income per common share: Basic $ ( 0.75 ) $ 0.04 $ ( 0.93 ) $ 0.23 Diluted $ ( 0.75 ) $ 0.04 $ ( 0.93 ) $ 0.23 The following table indicates the number of potentially dilutive securities excluded from the calculation of Diluted net income per common share because their inclusion would have been anti-dilutive. The number of shares is as of the end of each period: For the Three Months Ended For the Nine Months Ended 2022 2021 2022 2021 Common stock options — — — — Restricted shares — 203,636 — 17,803 Total — 203,636 — 17,803

LONG-TERM DEBT

LONG-TERM DEBT	9 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
LONG-TERM DEBT	NOTE 12 — LONG-TERM DEBT Long-term debt consisted of the following (dollars in thousands): December 31, March 31, Revolving credit facility $ 5,000 $ — Equipment debt obligations 23 35 Total long-term debt 5,023 35 Less current maturities ( 16 ) ( 16 ) Long-term debt, less current maturities $ 5,007 $ 19 Revolving Credit Agreement On December 29, 2020, Orion entered into a new $ 25 million Loan and Security Agreement with Bank of America, N.A., as lender (the “Credit Agreement”). The Credit Agreement replaced Orion’s prior $ 20.15 million secured revolving credit and security agreement (the “Prior Credit Agreement”). The replacement of the Prior Credit Agreement with the Credit Agreement provides Orion with increased financing capacity and liquidity to fund its operations and implement its strategic plans. The Credit Agreement provides for a five-year $ 25.0 million revolving credit facility (the “Credit Facility”) that matures on December 29, 2025 . Borrowings under the Credit Facility are subject to a borrowing base requirement based on eligible receivables, inventory and cash. As of December 31, 2022 , the borrowing base supported $ 16.3 million of availability under the Credit Facility. As of December 31, 2022 , $ 5.0 million was borrowed under the Credit Facility. Effective November 4, 2022, Orion, with Bank of America, N.A. as lender, executed Amendment No. 1 to its Credit Agreement. The primary purpose of the amendment was to include the assets of the acquired subsidiaries, Stay-Lite Lighting and Voltrek, as secured collateral under the Credit Agreement. Accordingly, eligible assets of Stay-Lite and Voltrek will be included in the borrowing base calculation for the purpose of establishing the monthly borrowing availability under the Credit Agreement. The amendment also clarifies that the earnout liabilities associated with the Stay-Lite and Voltrek transactions are permitted under the Credit Agreement and that the expenses recognized in connection with those earnouts should be added back in the computation of EBITDA, as defined, under the Credit Agreement. As of December 31, 2022, Orion was in compliance with all debt covenants. Equipment Debt Obligations In February 2019, Orion entered into additional debt agreements with a financing company in the principal amount of $ 44 thousand and $ 30 thousand to fund the purchase of certain equipment. The debts are secured by the related equipment. The debts bear interest at a rate of 6.43 % and 8.77 % per annum, respectively, and both debts mature in January 2024 .

INCOME TAXES

INCOME TAXES	9 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 13 — INCOME TAXES Orion’s income tax provision was determined by applying an estimated annual effective tax rate, based upon the facts and circumstances known, to book income (loss) before income tax, adjusting for discrete items. Orion’s actual effective tax rate is adjusted each interim period, as appropriate, for changes in facts and circumstances. For the three months ended December 31, 2022 and 2021 , Orion recorded income tax expense of $ 19.4 million and $ 0.2 million, respectively, using this methodology. For the nine months ended December 31, 2022 and 2021 , Orion recorded income tax expense of $ 17.9 million and $ 2.4 million, respectively, using this methodology. The increase in the Company’s tax expense relates primarily to a non-cash charge of $ 17.8 million in relation to recording a valuation allowance associated with the Company’s domestic federal and state deferred tax assets. As of December 31, 2022 and March 31, 2022 , Orion has a recorded valuation allowance of $ 19.1 million and $ 1.2 million, respectively, against its net deferred tax asset balance. The accounting forecasts, as revised in the current quarter, projects losses in the near term. Orion now projects a 36-month cumulative loss starting from fiscal year 2023. As such, Orion management has concluded that it is more likely than not that the domestic deferred tax assets will not be realized and an increase to the valuation allowance has been recorded in the third quarter, which increased tax expense by $17.8 million. As of each reporting date, management considers new evidence, both positive and negative, that could affect its view of the future realization of deferred tax assets. Orion considers future taxable income and ongoing prudent and feasible tax planning strategies in assessing the need for the valuation allowance. In the event that Orion determines that the more or less of its deferred tax assets are able to be realized, an adjustment to the valuation allowance would be reflected in the company’s provision for income taxes. Uncertain Tax Positions As of December 31, 2022 , Orion’s balance of gross unrecognized tax benefits was approximately $ 0.2 million, all of which would reduce Orion’s effective tax rate if recognized. Orion has classified the amounts recorded for uncertain tax benefits in the balance sheet as Other long-term liabilities to the extent that payment is not anticipated within one year. Orion recognizes penalties and interest related to uncertain tax liabilities in income tax (benefit) expense. Penalties and interest are included in the unrecognized tax benefits.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Dec. 31, 2022
Commitments And Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 14 — COMMITMENTS AND CONTINGENCIES Litigation Orion is subject to various claims and legal proceedings arising in the ordinary course of business. Orion does not believe the final resolution of any of such claims or legal proceedings will have a material adverse effect on Orion’s future results of operations or financial condition. State Tax Assessment During fiscal year 2018, Orion was notified of a pending sales and use tax audit by the Wisconsin Department of Revenue for the period covering April 1, 2013 through March 31, 2017. This sales and use tax audit was settled during the quarter ended June 30, 2022 with no tax adjustment.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	9 Months Ended
	Dec. 31, 2022
Stockholders Equity Note [Abstract]
SHAREHOLDERS' EQUITY	NOTE 15 — SHAREHOLDERS’ EQUITY Employee Stock Purchase Plan In August 2010, Orion’s Board of Directors approved a non-compensatory employee stock purchase plan, or “ESPP”. In the three months ended December 31, 2022 , Orion issued 621 shares under the ESPP plan at a closing market price of $ 1.82 . Shares Issued Closing Market Quarter Ended June 30, 2022 443 2.01 Quarter Ended September 30, 2022 648 1.56 Quarter Ended December 31, 2022 621 1.82 Total issued in fiscal 2022 1,712 $ 1.56 - 2.01 Sale of shares In March 2020, Orion filed a universal shelf registration statement with the Securities and Exchange Commission. Under the shelf registration statement, Orion currently has the flexibility to publicly offer and sell from time to time up to $ 100 million of debt and/or equity securities. The filing of the shelf registration statement may help facilitate Orion’s ability to raise public equity or debt capital to expand existing businesses, fund potential acquisitions, invest in other growth opportunities, repay existing debt, or for other general corporate purposes. In March 2021, Orion entered into an At Market Issuance Sales Agreement to undertake an “at the market” (ATM) public equity capital raising program pursuant to which Orion may offer and sell shares of common stock from time to time, having an aggregate offering price of up to $ 50 million. No share sales have been effected pursuant to the ATM program through December 31, 2022 .

STOCK OPTIONS AND RESTRICTED SH

STOCK OPTIONS AND RESTRICTED SHARES	9 Months Ended
	Dec. 31, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
STOCK OPTIONS AND RESTRICTED SHARES	NOTE 16 — STOCK OPTIONS AND RESTRICTED SHARES At Orion’s 2019 annual meeting of shareholders held on August 7, 2019, Orion’s shareholders approved the Orion Energy Systems, Inc. 2016 Omnibus Incentive Plan, as amended and restated (the “Amended 2016 Plan”). The Amended 2016 Plan increased the number of shares of Orion’s common stock available for issuance under the Amended 2016 Plan from 1,750,000 shares to 3,500,000 shares (an increase of 1,750,000 shares); added a minimum vesting period for all awards granted under the Amended 2016 Plan (with limited exceptions); and added a specific prohibition on the payment of dividends and dividend equivalents on unvested awards. The Amended 2016 Plan authorizes grants of equity-based and incentive cash awards to eligible participants designated by the Plan's administrator. Awards under the Amended 2016 Plan may consist of stock options, stock appreciation rights, performance shares, performance units, common stock, restricted stock, restricted stock units, incentive awards or dividend equivalent units. Prior to the 2016 Omnibus Incentive Plan, Orion maintained its 2004 Stock and Incentive Awards Plan, as amended, which authorized the grant of cash and equity awards to employees (the “2004 Plan”). No new awards are being granted under the 2004 Plan; however, all awards granted under the 2004 Plan that are outstanding will continue to be governed by the 2004 Plan. Forfeited awards originally issued under the 2004 Plan are canceled and are not available for subsequent issuance under the 2004 Plan or under the Amended 2016 Plan. The Amended 2016 Plan and the 2004 Plan also permit accelerated vesting in the event of certain changes of control of Orion as well as under other special circumstances. Certain non-employee directors have from time to time elected to receive stock awards in lieu of cash compensation pursuant to elections made under Orion’s non-employee director compensation program. The following amounts of stock-based compensation were recorded (dollars in thousands): For the Three Months Ended For the Nine Months Ended 2022 2021 2022 2021 Cost of product revenue $ 2 $ 1 $ 3 $ 4 General and administrative 444 214 1,425 574 Sales and marketing 0 3 4 10 Research and development 2 1 3 3 Total $ 448 $ 219 $ 1,435 $ 591 During the first three months of fiscal 2022, Orion had the following activity related to its stock-based compensation: Restricted Shares Stock Options Awards outstanding at March 31, 2022 450,458 142,428 Awards granted 806,738 — Awards vested or exercised ( 535,622 ) ( 26,646 ) Awards forfeited ( 23,120 ) ( 30,646 ) Awards outstanding at December 31, 2022 698,454 85,136 Per share weighted average price on grant date $ 2.18 — As of December 31, 2022, the amount of deferred stock-based compensation expense to be recognized, over a remaining period of 2.9 years, was approximately $ 1.3 million .

SEGMENTS

SEGMENTS	9 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
SEGMENTS	NOTE 17 — SEGMENTS Orion has historically reported the following business segments: Orion Services Group Division ("OSG"), Orion Distribution Services Division ("ODS"), and Orion U.S. Markets Division ("USM"). With Orion’s acquisition of Voltrek on October 5, 2022, Orion has now added a fourth reporting segment, Orion Electric Vehicle Charging Division (“EV”). The accounting policies are the same for each business segment as they are on a consolidated basis. Orion Services Group Division The OSG segment develops and sells lighting products and provides construction, engineering along with installation and maintenance services for Orion's commercial lighting and energy management systems. OSG provides engineering, design, lighting products and in many cases turnkey solutions for large national accounts, governments, municipalities, schools and other customers. Orion Distribution Services Division The ODS segment sells lighting products through manufacturer representative agencies and a network of North American broadline electrical distributors and contractors. Orion U.S. Markets Division The USM segment sells commercial lighting systems and energy management systems to contractors and energy service companies ("ESCOs"). Orion Electric Vehicle Charging Division The EV segment offers leading electric vehicle charging expertise and provides turnkey solutions with ongoing support to all commercial verticals. Corporate and Other Corporate and Other is comprised of operating expenses not allocated to Orion’s segments and adjustments to reconcile to consolidated results (dollars in thousands). Revenues Operating Income (Loss) For the Three Months Ended For the Three Months Ended 2022 2021 2022 2021 Segments: Orion Services Group $ 8,623 $ 20,021 $ ( 1,858 ) $ 970 Orion Distribution Services 3,711 4,942 ( 77 ) 491 Orion U.S. Markets 5,124 5,751 532 1,250 Orion Electric Vehicle Charging 2,830 — ( 1,500 ) — Corporate and Other — — ( 1,685 ) ( 1,379 ) $ 20,288 $ 30,714 $ ( 4,588 ) $ 1,332 Revenues Operating Income (Loss) For the Nine Months Ended For the Nine Months Ended 2022 2021 2022 2021 Segments: Orion Services Group $ 27,405 $ 68,961 $ ( 5,630 ) $ 7,115 Orion Distribution Services 12,846 18,264 6 3,173 Orion U.S. Markets 12,673 15,100 1,028 3,198 Orion Electric Vehicle Charging 2,830 — ( 1,500 ) — Corporate and Other — — ( 5,052 ) ( 3,705 ) $ 55,754 $ 102,325 $ ( 11,148 ) $ 9,781

ACQUISITION

ACQUISITION	9 Months Ended
	Dec. 31, 2022
Business Combinations [Abstract]
ACQUISITION	NOTE 18 — ACQUISITION Acquisition of Voltrek Effective on October 5, 2022, Orion acquired all the membership interests of Voltrek, an electric vehicle charging station solutions provider for a purchase price of $ 5.0 million in cash and $ 1.0 million of shares of common stock of Orion, subject to normal and customary closing adjustments (the “Voltrek Acquisition”). In addition, 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 earnout payments. These compensatory payments do not fall within the scope of ASC 805, Business Combinations, and will be expensed over the course of the earnout periods to the extent they are earned. The Voltrek Acquisition was funded from existing cash resources and Orion shares. Voltrek will operate as Voltrek, an Orion Energy Systems business. The Voltrek Acquisition leverages Orion’s project management and maintenance expertise into a rapidly growing sector. Orion has accounted for the Voltrek Acquisition as a business combination. Orion has preliminarily allocated the purchase price of approximately $ 6.7 million to the assets acquired and liabilities assumed at estimated fair values, and the excess of the purchase price over the aggregate fair values is recorded as goodwill. The purchase price was paid in cash and 620,067 shares of common stock with a total market value of $ 1.0 million, which is recorded in the opening balance sheet at fair value of $ 0.8 million, the discount on which is due to lock-up requirements on the shares. Cash $ 416 Accounts receivable 1,438 Revenue earned but not billed 365 Inventory 880 Prepaid expenses and other current assets 39 Property and equipment 4 Goodwill 861 Other intangible assets 4,200 Other long-term assets 211 Accounts payable ( 1,199 ) Accrued expenses and other ( 286 ) Other long-term liabilities ( 180 ) Net purchase consideration $ 6,749 Goodwill recorded from the Voltrek Acquisition is attributable to the skillset of the acquired workforce. The goodwill resulting from the Voltrek Acquisition is expected to be deductible for tax purposes. The intangible assets include amounts recognized for the fair value of the trade name, vendor relationship and customer relationships . The tradename intangible asset was valued using a relief from royalty method. The significant assumptions used include the estimated revenue and royalty rate, among other factors. The vendor relationship intangible asset was valued using the income approach – excess earnings method. The significant assumptions include estimated revenue, cost of goods sold, and probability of renewal, among other factors. The customer relationship intangible asset was valued using the income approach – with-and-without method. The significant assumptions include estimated cash flows (including appropriate revenue, cost of revenue and operating expenses attributable to the asset, retention rate, among other factors), and discount rate, reflecting the risks inherent in the future cash flow stream, among other factors. The categorization of the framework used to measure fair value of the intangible assets is considered to be within the Level 3 valuation hierarchy due to the subjective nature of the unobservable inputs used. The following table presents the details of the intangible assets acquired at the date of Voltrek Acquisition (dollars in thousands): Estimated Estimated Useful Life (Years) Tradename $ 400 5 Vendor relationship 2,300 7 Customer relationships 1,500 3 Voltrek's post-acquisition results of operations since October 5, 2022 are included in Orion’s Consolidated Statements of Operations. The operating results of Voltrek are included in the EV segment. See note 17 – Segments, for results. Acquisition of Stay-Lite Lighting Effective on January 1, 2022, Orion acquired all of the issued and outstanding capital stock of Stay-Lite Lighting, a nationwide lighting and electrical maintenance service provider, for $ 4.3 million (the “Stay-Lite Acquisition”). Stay-Lite Lighting operates as Stay-Lite Lighting, an Orion Energy Systems business. The Stay-Lite Acquisition accelerates the growth of Orion's maintenance services offerings through its Orion Services Group, which provides lighting and electrical services to customers. Orion has accounted for this transaction as a business combination. Orion has allocated the purchase price of approximately $ 4.3 million, which includes an estimate of the earn-out liability of $ 0.2 million and $ 0.1 million for the working capital adjustment received in the first quarter fiscal 2023, to the assets acquired and liabilities assumed at estimated fair values, and the excess of the purchase price over the aggregate fair values is recorded as goodwill. Orion could pay up to $ 0.7 million in earnout related purchase price, which is based on performance during the current and following calendar years. Any accretion of the earnout liability above $ 0.2 million recorded as part of the opening balance sheet will be recognized as expense in the Consolidated Statement of Operations. The allocation of the purchase consideration to the fair value of the assets acquired and liabilities assumed as of January 1, 2022, is as follows (dollars in thousands): Cash $ 95 Accounts receivable 2,690 Revenue earned but not billed 342 Inventory 504 Prepaid expenses and other current assets 41 Property and equipment 725 Goodwill 564 Other intangible assets 673 Other long-term assets 537 Accounts payable ( 965 ) Accrued expenses and other ( 492 ) Other long-term liabilities ( 411 ) Net purchase consideration $ 4,303 Goodwill recorded from the Stay-Lite Acquisition is attributable to the expected synergies from the business combination. The goodwill resulting from the Stay-Lite Acquisition is deductible for tax purposes. The intangible assets include amounts recognized for the fair value of the trade name and customer relationships. The fair value of the intangible assets was determined based upon the income (discounted cash flow) approach. The following table presents the details of the intangible assets acquired at the date of Stay-Lite Acquisition (dollars in thousands): Estimated Estimated Useful Life (Years) Tradename $ 164 5 Customer relationships 509 8 Stay-Lite Lighting’s post-acquisition results of operations since January 1, 2022 are included in Orion’s Consolidated Statements of Operations. The operating results of Stay-Lite Lighting are included in the Orion Services Group segment. If Voltrek was acquired on April 1, 2022, the pro forma Orion revenue for the nine-month period ended on December 31, 2022 would have been $ 58.2 million and proforma net loss would have been $( 28.9 ) million. If both Stay-Lighting and Voltrek had been acquired as of April 1, 2021, Orion full year fiscal 2022 revenue would have been $ 134.9 million and net income would have been $ 5.8 million. The pro forma information was determined based on the historical results of Orion and unaudited financial results from Stay-Lite Lighting and Voltrek. These proforma results reflect additional depreciation and amortization that would have been charged assuming the fair value adjustments to property, plant, and equipment and intangible asset occurred at the beginning of the period, along with consequential tax effects. The unaudited pro forma results have been prepared for comparative purposes only and are not necessarily indicative of what would have occurred had the business combinations been completed at the beginning of the period or the results that may occur in the future. Furthermore, the unaudited pro forma financial information does not reflect the impact of any synergies resulting from the acquisitions. Transaction costs related to the Stay-Lite Acquisition and the Voltrek Acquisition are recorded in acquisition costs in the Consolidated Statements of Operations. Transaction costs totaled $ 0.2 million in the three and nine months ending December 31, 2021 and $ 0.5 million and $ 0.8 million in the three and nine months ended December 31, 2022 , respectively.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of Orion and its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation.
Basis of Presentation	Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements of Orion have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information and with the rules and regulations of the Securities and Exchange Commission (SEC). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair statement have been included. Interim results are not necessarily indicative of results that may be expected for the fiscal year ending March 31, 2023 or other interim periods. The Condensed Consolidated Balance Sheet as of March 31, 2022 has been derived from the audited consolidated financial statements at that date but does not include all of the information required by GAAP for complete financial statements. The accompanying unaudited Condensed Consolidated Financial Statements should be read in conjunction with the audited consolidated financial statements and footnotes thereto included in Orion’s Annual Report on Form 10-K for the fiscal year ended March 31, 2022 filed with the SEC on June 10, 2022.
Acquisition Related Costs	Acquisition Related Costs Acquisition related costs includes various acquisition related costs, including legal fees, consulting and success fees, earn-out expenses, and other non-recurring integration related costs.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during that reporting period. Areas that require the use of significant management estimates include revenue recognition, inventory obsolescence, allowance for doubtful accounts, accruals for warranty and loss contingencies, income taxes, impairment analyses, and certain equity transactions. Accordingly, actual results could differ from those estimates.
Concentration of Credit Risk and Other Risks and Uncertainties	Concentration of Credit Risk and Other Risks and Uncertainties Orion's cash is primarily deposited with one financial institution. At times, deposits in this institution exceeds the amount of insurance provided on such deposits. Orion has not experienced any losses in such accounts and believes that it is not exposed to any significant financial institution viability risk on these balances. Orion purchases components necessary for its lighting products, including lamps and LED components, from multiple suppliers. For the three months ended December 31, 2022 , one supplier accounted for 13.3 % of total cost of revenue. For the nine months ended December 31, 2022 , no suppliers accounted for more than 10.0 % of total cost of revenue. For the three and nine months ended December 31, 2021 , no suppliers accounted for more than 10.0 % of total cost of revenue. For the three and nine months ended December 31, 2022 , one customer accounted for 18.2 % and 16.1 % of total revenue, respectively. For the three and nine months ended December 31, 2021 , one customer accounted for 48.6 % and 53.0 % of total revenue, respectively. As of December 31, 2022 , one customer accounted for 12.3 % of accounts receivable, respectively. As of March 31, 2022 , two customers accounted for 11.8 % and 10.4 % of accounts receivable, respectively.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Issued: Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which requires an entity to assess impairment of its financial instruments based on its estimate of expected credit losses. Since the issuance of ASU 2016-13, the FASB released several amendments to improve and clarify the implementation guidance. The provisions of ASU 2016-13 and the related amendments are effective for Orion for fiscal years (and interim reporting periods within those years) beginning after December 15, 2022. Entities are required to apply these changes through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. Orion is currently evaluating the impact of adoption of this standard on its consolidated statements of operations, cash flows and the related footnote disclosures. In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”), which requires an entity to use the guidance in ASC 606, Revenue from Contracts with Customers, rather than using fair value, when recognizing and measuring contract assets and contract liabilities related to customer contracts assumed in a business combination. The provisions of ASU 2021-08 are effective for Orion for fiscal years (and interim reporting periods within those years) beginning after December 15, 2022. Orion is currently evaluating the impact of adoption of this standard on its consolidated balance sheet.

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Dec. 31, 2022
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, 2022 and December 31, 2021 (dollars in thousands): Three Months Ended December 31, 2022 Nine Months Ended December 31, 2022 Product Services Total Product Services Total Revenue from contracts with customers: Lighting product and installation $ 11,543 $ 1,679 $ 13,222 $ 36,006 $ 5,073 $ 41,079 Maintenance services 772 2,534 3,306 2,516 8,290 10,806 Electric vehicle charging 2,154 676 2,830 2,154 676 2,830 Total revenues from contracts with customers 14,469 4,889 19,358 40,676 14,039 54,715 Revenue accounted for under other guidance 930 — 930 1,039 — 1,039 Total revenue $ 15,399 $ 4,889 $ 20,288 $ 41,715 $ 14,039 $ 55,754 Three Months Ended December 31, 2021 Nine Months Ended December 31, 2021 Product Services Total Product Services Total Revenue from contracts with customers: Lighting product and installation $ 21,829 $ 7,699 $ 29,528 $ 76,704 $ 22,665 $ 99,369 Maintenance services 200 812 1,012 268 1,400 1,668 Solar energy related revenues 8 — 8 36 — 36 Total revenues from contracts with customers 22,037 8,511 30,548 77,008 24,065 101,073 Revenue accounted for under other guidance 166 — 166 1,252 — 1,252 Total revenue $ 22,203 $ 8,511 $ 30,714 $ 78,260 $ 24,065 $ 102,325
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, 2022 and March 31, 2022 (dollars in thousands): December 31, March 31, Accounts receivable, net $ 13,688 $ 11,899 Contract assets $ 2,187 $ 1,966 Contract liabilities $ 99 $ —

ACCOUNTS RECEIVABLE, NET (Table

ACCOUNTS RECEIVABLE, NET (Tables)	9 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Accounts Receivable and Allowance for Doubtful Accounts Balances	As of December 31, 2022 and March 31, 2022, Orion's accounts receivable and allowance for doubtful accounts balances were as follows (dollars in thousands): December 31, March 31, Accounts receivable, gross $ 13,744 $ 11,907 Allowance for doubtful accounts ( 56 ) ( 8 ) Accounts receivable, net $ 13,688 $ 11,899

INVENTORIES, NET (Tables)

INVENTORIES, NET (Tables)	9 Months Ended
	Dec. 31, 2022
Inventory Disclosure [Abstract]
INVENTORIES, NET	As of December 31, 2022 and March 31, 2022, Orion's inventory balances were as follows (dollars in thousands): Cost Excess and Net As of December 31, 2022 Raw materials and components $ 10,456 $ ( 943 ) $ 9,513 Work in process 1,128 ( 131 ) 997 Finished goods 9,377 ( 582 ) 8,795 Total $ 20,961 $ ( 1,656 ) $ 19,305 As of March 31, 2022 Raw materials and components $ 10,781 $ ( 1,140 ) $ 9,641 Work in process 1,529 ( 267 ) 1,262 Finished goods 9,593 ( 664 ) 8,929 Total $ 21,903 $ ( 2,071 ) $ 19,832

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	9 Months Ended
	Dec. 31, 2022
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Summary of Prepaid Expenses and Other Current Assets	As of December 31, 2022 and March 31, 2022, prepaid expenses and other current assets include the following (dollars in thousands): December 31, March 31, Payroll tax credit $ 1,587 $ 1,587 Other prepaid expenses 760 1,044 Total $ 2,347 $ 2,631

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	9 Months Ended
	Dec. 31, 2022
Property Plant And Equipment [Abstract]
Property and Equipment, Net	As of December 31, 2022 and March 31, 2022, property and equipment, net, included the following (dollars in thousands): December 31, March 31, Land and land improvements $ 433 $ 433 Buildings and building improvements 9,491 9,491 Furniture, fixtures and office equipment 7,772 7,650 Leasehold improvements 540 490 Equipment leased to customers 4,997 4,997 Plant equipment 11,212 11,130 Vehicles 617 796 Construction in Progress 2 3 Gross property and equipment 35,064 34,990 Less: accumulated depreciation ( 24,385 ) ( 23,524 ) Total property and equipment, net $ 10,679 $ 11,466 As of December 31, 2022, due to a change in Orion's forecast, a triggering event occurred requiring Orion to evaluate the long-lived assets in its enterprise asset group for impairment. The enterprise asset group includes the corporate assets that support the revenue producing activities of other asset groups. Orion performed the recoverability test for the asset group by comparing its carrying value to the group’s expected future undiscounted cash flows. Orion concluded that the undiscounted cash flows of the long-lived asset group exceeded its carrying value. As such the asset group was deemed recoverable and no impairment was recorded.

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Summary of Assets Leased from Third Parties	A summary of Orion’s assets leased from third parties follows (dollars in thousands): Balance sheet classification December 31, 2022 March 31, 2022 Assets Operating lease assets Other long-term assets $ 2,366 $ 2,440 Liabilities Current liabilities Operating lease liabilities Accrued expenses and other $ 830 $ 768 Non-current liabilities Operating lease liabilities Other long-term liabilities 2,038 2,271 Total lease liabilities $ 2,868 $ 3,039
Summary of Estimated Maturity of Lease Liabilities	The estimated maturity of lease liabilities for each of the next five years is shown below (dollars in thousands): Maturity of Lease Liabilities Operating Leases Fiscal 2023 $ 255 Fiscal 2024 957 Fiscal 2025 949 Fiscal 2026 845 Fiscal 2027 142 Total lease payments $ 3,148 Less: Interest ( 280 ) Present value of lease liabilities $ 2,868
Schedule of Revenue and Cost of Sales Arising from Sales-Type Leases	The following chart shows the amount of revenue and cost of sales arising from sales-type leases during the three and nine months ended December 31, 2022 and December 31, 2021 (dollars in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2022 2021 2022 2021 Product revenue $ 936 $ 342 $ 911 $ 993 Cost of product revenue 927 $ 306 927 $ 889

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Tables)	9 Months Ended
	Dec. 31, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Components and Changes in Other Intangible Assets	As of December 31, 2022 and March 31, 2022, the components of, and changes in, the carrying amount of other intangible assets, net, were as follows (dollars in thousands): December 31, 2022 March 31, 2022 Gross Carrying Accumulated Net Gross Carrying Accumulated Net Amortized Intangible Assets Patents $ 2,521 $ ( 1,905 ) $ 616 $ 2,652 $ ( 1,932 ) $ 720 Licenses 58 ( 58 ) — 58 ( 58 ) — Trade name and trademarks 564 ( 52 ) 512 118 ( 6 ) 112 Customer relationships 5,609 ( 3,784 ) 1,825 4,178 ( 3,618 ) 560 Vendor Relationship 2,300 ( 79 ) 2,221 — — — Developed technology 900 ( 900 ) — 900 ( 900 ) — Total Amortized Intangible Assets $ 11,952 $ ( 6,778 ) $ 5,174 $ 7,906 $ ( 6,514 ) $ 1,392 Indefinite-lived Intangible Assets Trade name and trademarks $ 1,010 $ — $ 1,010 $ 1,012 $ — $ 1,012 Total Non-Amortized Intangible Assets $ 1,010 $ — $ 1,010 $ 1,012 $ — $ 1,012
Summary of Estimated Amortization Expense	The estimated amortization expense for the remainder of fiscal 2023, the next five fiscal years and beyond is shown below (dollars in thousands): Fiscal 2023 (period remaining) $ 277 Fiscal 2024 1,105 Fiscal 2025 1,096 Fiscal 2026 842 Fiscal 2027 566 Fiscal 2028 486 Thereafter 802 Total $ 5,174

ACCRUED EXPENSES AND OTHER (Tab

ACCRUED EXPENSES AND OTHER (Tables)	9 Months Ended
	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Schedule of Accrued Expenses and Other	As of December 31, 2022 and March 31, 2022, accrued expenses and other included the following (dollars in thousands): December 31, March 31, Accrued earnout $ 1,750 — Other accruals 1,633 $ 2,221 Compensation and benefits 1,552 1,668 Credits due to customers 1,399 1,209 Accrued project costs 852 2,215 Warranty 482 728 Sales returns reserve 400 123 Sales tax 239 157 Legal and professional fees 108 106 Total $ 8,415 $ 8,427 Accrued earnout is related to recent acquisitions. Refer to discussion of acquisitions at Note 18 - Acquisitions.
Changes in Warranty Accrual	Changes in Orion’s warranty accrual (both current and long-term) were as follows (dollars in thousands): For the Three Months Ended For the Nine Months Ended 2022 2021 2022 2021 Beginning of period $ 698 $ 1,014 $ 860 $ 1,009 Accruals 75 123 271 328 Warranty claims (net of vendor reimbursements) ( 149 ) ( 186 ) ( 507 ) ( 386 ) End of period $ 624 $ 951 $ 624 $ 951

NET (LOSS) INCOME PER COMMON _2

NET (LOSS) INCOME PER COMMON SHARE (Tables)	9 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Summary of the Effect of Net Income Per Common Share	Net income per common share is calculated based upon the following shares: For the Three Months Ended For the Nine Months Ended 2022 2021 2022 2021 Numerator: Net (loss) income (in thousands) $ ( 24,059 ) $ 1,102 $ ( 29,225 ) $ 7,271 Denominator: Weighted-average common shares outstanding 32,047,755 31,084,710 31,510,547 30,992,475 Weighted-average common shares and common share 32,047,755 31,234,925 31,510,547 31,273,703 Net (loss) income per common share: Basic $ ( 0.75 ) $ 0.04 $ ( 0.93 ) $ 0.23 Diluted $ ( 0.75 ) $ 0.04 $ ( 0.93 ) $ 0.23
Number of Potentially Dilutive Securities Excluded from the Calculation of Diluted Net Income per Common Share	The following table indicates the number of potentially dilutive securities excluded from the calculation of Diluted net income per common share because their inclusion would have been anti-dilutive. The number of shares is as of the end of each period: For the Three Months Ended For the Nine Months Ended 2022 2021 2022 2021 Common stock options — — — — Restricted shares — 203,636 — 17,803 Total — 203,636 — 17,803

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	9 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Summary of Long-Term Debt	Long-term debt consisted of the following (dollars in thousands): December 31, March 31, Revolving credit facility $ 5,000 $ — Equipment debt obligations 23 35 Total long-term debt 5,023 35 Less current maturities ( 16 ) ( 16 ) Long-term debt, less current maturities $ 5,007 $ 19

SHAREHOLDERS EQUITY (Tables)

SHAREHOLDERS EQUITY (Tables)	9 Months Ended
	Dec. 31, 2022
Stockholders Equity Note [Abstract]
Shares Issued from Treasury	Orion issued 621 shares under the ESPP plan at a closing market price of $ 1.82 . Shares Issued Closing Market Quarter Ended June 30, 2022 443 2.01 Quarter Ended September 30, 2022 648 1.56 Quarter Ended December 31, 2022 621 1.82 Total issued in fiscal 2022 1,712 $ 1.56 - 2.01

STOCK OPTIONS AND RESTRICTED _2

STOCK OPTIONS AND RESTRICTED SHARES (Tables)	9 Months Ended
	Dec. 31, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-based Compensation	The following amounts of stock-based compensation were recorded (dollars in thousands): For the Three Months Ended For the Nine Months Ended 2022 2021 2022 2021 Cost of product revenue $ 2 $ 1 $ 3 $ 4 General and administrative 444 214 1,425 574 Sales and marketing 0 3 4 10 Research and development 2 1 3 3 Total $ 448 $ 219 $ 1,435 $ 591
Summary of Stock Options Activity	During the first three months of fiscal 2022, Orion had the following activity related to its stock-based compensation: Restricted Shares Stock Options Awards outstanding at March 31, 2022 450,458 142,428 Awards granted 806,738 — Awards vested or exercised ( 535,622 ) ( 26,646 ) Awards forfeited ( 23,120 ) ( 30,646 ) Awards outstanding at December 31, 2022 698,454 85,136 Per share weighted average price on grant date $ 2.18 —

SEGMENTS (Tables)

SEGMENTS (Tables)	9 Months Ended
	Dec. 31, 2022
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 (dollars in thousands). Revenues Operating Income (Loss) For the Three Months Ended For the Three Months Ended 2022 2021 2022 2021 Segments: Orion Services Group $ 8,623 $ 20,021 $ ( 1,858 ) $ 970 Orion Distribution Services 3,711 4,942 ( 77 ) 491 Orion U.S. Markets 5,124 5,751 532 1,250 Orion Electric Vehicle Charging 2,830 — ( 1,500 ) — Corporate and Other — — ( 1,685 ) ( 1,379 ) $ 20,288 $ 30,714 $ ( 4,588 ) $ 1,332 Revenues Operating Income (Loss) For the Nine Months Ended For the Nine Months Ended 2022 2021 2022 2021 Segments: Orion Services Group $ 27,405 $ 68,961 $ ( 5,630 ) $ 7,115 Orion Distribution Services 12,846 18,264 6 3,173 Orion U.S. Markets 12,673 15,100 1,028 3,198 Orion Electric Vehicle Charging 2,830 — ( 1,500 ) — Corporate and Other — — ( 5,052 ) ( 3,705 ) $ 55,754 $ 102,325 $ ( 11,148 ) $ 9,781

ACQUISITION (Tables)

ACQUISITION (Tables)	9 Months Ended
	Dec. 31, 2022
Stay-Lite Lighting, Inc.
Business Acquisition [Line Items]
Schedule of Preliminary Allocation of Purchase Consideration to Fair Value of Assets Acquired and Liabilities Assumed	The allocation of the purchase consideration to the fair value of the assets acquired and liabilities assumed as of January 1, 2022, is as follows (dollars in thousands): Cash $ 95 Accounts receivable 2,690 Revenue earned but not billed 342 Inventory 504 Prepaid expenses and other current assets 41 Property and equipment 725 Goodwill 564 Other intangible assets 673 Other long-term assets 537 Accounts payable ( 965 ) Accrued expenses and other ( 492 ) Other long-term liabilities ( 411 ) Net purchase consideration $ 4,303 Goodwill recorded from the Stay-Lite Acquisition
Schedule of Intangible Assets Acquired at Date of Acquisition	The following table presents the details of the intangible assets acquired at the date of Stay-Lite Acquisition (dollars in thousands): Estimated Estimated Useful Life (Years) Tradename $ 164 5 Customer relationships 509 8
Voltrek LLC
Business Acquisition [Line Items]
Schedule of Preliminary Allocation of Purchase Consideration to Fair Value of Assets Acquired and Liabilities Assumed	Cash $ 416 Accounts receivable 1,438 Revenue earned but not billed 365 Inventory 880 Prepaid expenses and other current assets 39 Property and equipment 4 Goodwill 861 Other intangible assets 4,200 Other long-term assets 211 Accounts payable ( 1,199 ) Accrued expenses and other ( 286 ) Other long-term liabilities ( 180 ) Net purchase consideration $ 6,749 Goodwill recorded from the Voltrek Acquisition is attributable to the skillset of the acquired workforce. The goodwill resulting from the Voltrek Acquisition is expected to be deductible for tax purposes. The intangible assets include amounts recognized for the fair value of the trade name, vendor relationship and customer relationships
Schedule of Intangible Assets Acquired at Date of Acquisition	The following table presents the details of the intangible assets acquired at the date of Voltrek Acquisition (dollars in thousands): Estimated Estimated Useful Life (Years) Tradename $ 400 5 Vendor relationship 2,300 7 Customer relationships 1,500 3

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details)	1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 31, 2022 Customer	Dec. 31, 2022 Customer Supplier	Dec. 31, 2021 Customer Supplier	Dec. 31, 2022 Customer Supplier Financial_instituion	Dec. 31, 2021 Supplier Customer
Concentration of Credit Risk and Other Risks and Uncertainties
Number of financial institutions | Financial_instituion				1
Number of supplier more than ten percent of cost of revenue | Supplier		1	0	0	0
Number of customer more than ten percent of revenue		1	1	1	1
Number Of Customer More Than Ten Percent Of Accounts Receivable	2	1		1
Cost of revenue | Supplier Concentration Risk | Minimum
Concentration of Credit Risk and Other Risks and Uncertainties
Concentration risk, percentage		13.30%	10%	10%	10%
Revenue | Customer Concentration Risk | Customer One
Concentration of Credit Risk and Other Risks and Uncertainties
Concentration risk, percentage		18.20%	48.60%	16.10%	53%
Accounts Receivable | Customer Concentration Risk | Customer Two
Concentration of Credit Risk and Other Risks and Uncertainties
Concentration risk, percentage				12.30%
Accounts Receivable | Credit Concentration Risk | Customer One
Concentration of Credit Risk and Other Risks and Uncertainties
Concentration risk, percentage	11.80%
Accounts Receivable | Credit Concentration Risk | Customer Two
Concentration of Credit Risk and Other Risks and Uncertainties
Concentration risk, percentage	10.40%

REVENUE Disaggregation of Reven

REVENUE Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	$ 19,358	$ 30,548	$ 54,715	$ 101,073
Revenue accounted for under other guidance	930	166	1,039	1,252
Total revenue	20,288	30,714	55,754	102,325
Product revenue
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	14,469	22,037	40,676	77,008
Revenue accounted for under other guidance	930	166	1,039	1,252
Total revenue	15,399	22,203	41,715	78,260
Service revenue
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	4,889	8,511	14,039	24,065
Revenue accounted for under other guidance	0	0	0	0
Total revenue	4,889	8,511	14,039	24,065
Lighting product and installation
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	13,222	29,528	41,079	99,369
Lighting product and installation | Product revenue
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	11,543	21,829	36,006	76,704
Lighting product and installation | Service revenue
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	1,679	7,699	5,073	22,665
Maintenance services
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	3,306	1,012	10,806	1,668
Maintenance services | Product revenue
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	772	200	2,516	268
Maintenance services | Service revenue
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	2,534	812	8,290	1,400
Electric vehicle charging
Disaggregation Of Revenue [Line Items]
Total revenue	2,830		2,830
Electric vehicle charging | Product revenue
Disaggregation Of Revenue [Line Items]
Total revenue	2,154		2,154
Electric vehicle charging | Service revenue
Disaggregation Of Revenue [Line Items]
Total revenue	$ 676		$ 676
Solar energy related revenues
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers		8		36
Solar energy related revenues | Product revenue
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers		8		36
Solar energy related revenues | Service revenue
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers		$ 0		$ 0

REVENUE (Narrative) (Details)

REVENUE (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Revenue From Contract With Customer [Abstract]
Proceeds from sale of revenue earned but not billed	$ 0	$ 0	$ 0	$ 2,400,000
Gain (loss) on sale of revenue earned but not billed		$ 9,000		$ 8,000
Change in contract asset reclassified to accounts receivable			0
Change in contract liability			$ 0

REVENUE - Summary of Contract A

REVENUE - Summary of Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Revenue From Contract With Customer [Abstract]
Accounts receivable, net	$ 13,688	$ 11,899
Contract assets	2,187	1,966
Contract liabilities	$ (99)	$ 0

ACCOUNTS RECEIVABLE, NET (Accou

ACCOUNTS RECEIVABLE, NET (Accounts Receivable and Allowance for Doubtful Accounts) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Receivables [Abstract]
Accounts receivable, gross	$ 13,744	$ 11,907
Allowance for doubtful accounts	(56)	(8)
Accounts receivable, net	$ 13,688	$ 11,899

INVENTORIES, NET - Schedule of

INVENTORIES, NET - Schedule of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Cost
Raw materials and components	$ 10,456	$ 10,781
Work in process	1,128	1,529
Finished goods	9,377	9,593
Total	20,961	21,903
Reserve
Raw materials and components	(943)	(1,140)
Work in process	(131)	(267)
Finished goods	(582)	(664)
Total	(1,656)	(2,071)
Net
Raw materials and components	9,513	9,641
Work in process	997	1,262
Finished goods	8,795	8,929
Total	$ 19,305	$ 19,832

PREPAID EXPENSES AND OTHER CU_3

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Summary of Prepaid Expenses and Other Current Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Payroll tax credit	$ 1,587	$ 1,587
Other prepaid expenses	760	1,044
Total	$ 2,347	$ 2,631

PROPERTY AND EQUIPMENT, NET (Su

PROPERTY AND EQUIPMENT, NET (Summary of Property and Equipment) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Property and equipment
Gross property and equipment	$ 35,064	$ 34,990
Less: accumulated depreciation	(24,385)	(23,524)
Total property and equipment, net	10,679	11,466
Land and land improvements
Property and equipment
Gross property and equipment	433	433
Buildings and building improvements
Property and equipment
Gross property and equipment	9,491	9,491
Furniture, fixtures and office equipment
Property and equipment
Gross property and equipment	7,772	7,650
Leasehold Improvements
Property and equipment
Gross property and equipment	540	490
Equipment leased to customers
Property and equipment
Gross property and equipment	4,997	4,997
Plant equipment
Property and equipment
Gross property and equipment	11,212	11,130
Vehicles
Property and equipment
Gross property and equipment	617	796
Construction in Progress
Property and equipment
Gross property and equipment	$ 2	$ 3

LEASES (Summary of Assets Lease

LEASES (Summary of Assets Leased from Third Parties) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Leases [Abstract]
Operating lease assets	$ 2,366	$ 2,440
Operating Lease, Right Of Use Asset Statement Of Financial Position [Extensible List]	Other long-term assets	Other long-term assets
Operating lease liabilities current	$ 830	$ 768
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other	Accrued expenses and other
Operating lease liabilities non-current	$ 2,038	$ 2,271
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other long-term liabilities	Other long-term liabilities
Total lease liabilities	$ 2,868	$ 3,039

LEASES (Narrative) (Details)

LEASES (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease costs	$ 0.4	$ 0.2	$ 1.2	$ 0.7

LEASES (Summary of Estimated Ma

LEASES (Summary of Estimated Maturity of Lease Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Leases [Abstract]
Fiscal 2023	$ 255
Fiscal 2024	957
Fiscal 2025	949
Fiscal 2026	845
Fiscal 2027	142
Total lease payments	3,148
Less: Interest	(280)
Present value of lease liabilities	$ 2,868	$ 3,039

LEASES (Schedule of Revenue and

LEASES (Schedule of Revenue and Cost of Sales Arising from Sales-Type Leases) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Product revenue	$ 936	$ 342	$ 911	$ 993
Cost of product revenue	$ 927	$ 306	$ 927	$ 889

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2022
Finite Lived Intangible Assets [Line Items]
Goodwill	$ 1,425		$ 1,425		$ 350
Goodwill, increase			200
Amortization expense	300	$ 100	373	$ 158
Voltrek LLC
Finite Lived Intangible Assets [Line Items]
Goodwill	900		900
Orion Services Group
Finite Lived Intangible Assets [Line Items]
Goodwill	$ 600		$ 600
Weighted average
Finite Lived Intangible Assets [Line Items]
Intangible assets, useful life			5 years 8 months 12 days

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Summary of Components and Changes in Other Intangible Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 11,952	$ 7,906
Accumulated Amortization	(6,778)	(6,514)
Intangible Assets, Net	5,174	1,392
Indefinite-lived Intangible Assets	1,010	1,012
Trade name and trademarks
Finite Lived Intangible Assets [Line Items]
Indefinite-lived Intangible Assets	1,010	1,012
Patents
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,521	2,652
Accumulated Amortization	(1,905)	(1,932)
Intangible Assets, Net	616	720
Licenses
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	58	58
Accumulated Amortization	(58)	(58)
Intangible Assets, Net	0	0
Trade name and trademarks
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	564	118
Accumulated Amortization	(52)	(6)
Intangible Assets, Net	512	112
Customer relationships
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	5,609	4,178
Accumulated Amortization	(3,784)	(3,618)
Intangible Assets, Net	1,825	560
Vendor Relationship
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,300	0
Accumulated Amortization	(79)	0
Intangible Assets, Net	2,221	0
Developed technology
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	900	900
Accumulated Amortization	(900)	(900)
Intangible Assets, Net	$ 0	$ 0

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Summary of Estimated Amortization Expense) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Finite-Lived Intangible Assets, Estimated Amortization Expense
Fiscal 2023 (period remaining)	$ 277
Fiscal 2024	1,105
Fiscal 2025	1,096
Fiscal 2026	842
Fiscal 2027	566
Fiscal 2028	486
Thereafter	802
Intangible Assets, Net	$ 5,174	$ 1,392

ACCRUED EXPENSES AND OTHER (Acc

ACCRUED EXPENSES AND OTHER (Accrued Expenses and Other) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Other Liabilities Disclosure [Abstract]
Accrued earnout	$ 1,750	$ 0
Other accruals	1,633	2,221
Credits due to customers	1,399	1,209
Compensation and benefits	1,552	1,668
Accrued project costs	852	2,215
Warranty	482	728
Sales returns reserve	400	123
Sales tax	239	157
Legal and professional fees	108	106
Total	$ 8,415	$ 8,427

ACCRUED EXPENSES AND OTHER (Nar

ACCRUED EXPENSES AND OTHER (Narrative) (Details)	9 Months Ended
	Dec. 31, 2022
Minimum
Product Warranty Liability [Line Items]
Limited warranty term	1 year
Maximum [Member]
Product Warranty Liability [Line Items]
Limited warranty term	10 years

ACCRUED EXPENSES AND OTHER (War

ACCRUED EXPENSES AND OTHER (Warranty Accrual) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Movement in Standard Product Warranty Accrual
Beginning of period	$ 698	$ 1,014	$ 860	$ 1,009
Accruals	75	123	271	328
Warranty claims (net of vendor reimbursements)	(149)	(186)	(507)	(386)
End of period	$ 624	$ 951	$ 624	$ 951

NET (LOSS) INCOME PER COMMON _3

NET (LOSS) INCOME PER COMMON SHARE (Earnings per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Net Income Loss	$ (24,059)	$ (2,331)	$ (2,835)	$ 1,102	$ 3,659	$ 2,510	$ (29,225)	$ 7,271
Denominator:
Weighted-average common shares outstanding	32,047,755			31,084,710			31,510,547	30,992,475
Weighted-average common shares and common share equivalents outstanding	32,047,755			31,234,925			31,510,547	31,273,703
Net (loss) income per common share:
Basic	$ (0.75)			$ 0.04			$ (0.93)	$ 0.23
Net (loss) income per common share:
Diluted	$ (0.75)			$ 0.04			$ (0.93)	$ 0.23

NET (LOSS) INCOME PER COMMON _4

NET (LOSS) INCOME PER COMMON SHARE (Potentially Dilutive Securities Excluded From the Calculation of Diluted Net Income Per Common Share) (Details) - shares	3 Months Ended	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2021
Number of potentially dilutive securities
Potentially dilutive securities outstanding	203,636	17,803
Restricted shares
Number of potentially dilutive securities
Potentially dilutive securities outstanding	203,636	17,803

LONG-TERM DEBT (Summary of Long

LONG-TERM DEBT (Summary of Long-Term Debt) (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2022	Mar. 31, 2022
Long-term debt
Total long-term debt	$ 5,023	$ 35
Less current maturities	(16)	(16)
Long-term debt, less current maturities	5,007	19
Revolving credit facility
Long-term debt
Revolving credit facility	5,000
Equipment debt obligations
Long-term debt
Total long-term debt	$ 23	$ 35

LONG-TERM DEBT (Narrative) (Det

LONG-TERM DEBT (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2022	Dec. 29, 2020	Feb. 28, 2019	Oct. 26, 2018
Credit Agreement | Bank of America N A | Line of Credit | Revolving credit facility
Line Of Credit Facility [Line Items]
Credit facility, amount	$ 25,000	$ 25,000
Credit agreement period	5 years
Credit agreement, maturity date	Dec. 29, 2025
Credit facility, available amount	$ 16,300
Credit agreement, amounts borrowed	$ 5,000
Prior Credit Agreement | Western Alliance Bank | Line of Credit | Revolving credit facility
Line Of Credit Facility [Line Items]
Credit facility, amount				$ 20,150
Debt Instrument 1 | Equipment debt obligations
Line Of Credit Facility [Line Items]
Principal amount of debt			$ 44
Stated interest rate, percentage			6.43%
Debt maturity month and year	2024-01
Debt Instrument 2 | Equipment debt obligations
Line Of Credit Facility [Line Items]
Principal amount of debt			$ 30
Stated interest rate, percentage			8.77%
Debt maturity month and year	2024-01

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income tax (benefit)/expense	$ 19,391	$ 189	$ 17,933	$ 2,406
Valuation allowance	19,100		19,100		$ 1,200
Unrecognized tax benefits	$ 200		$ 200
Cumulative loss, description			Orion now projects a 36-month cumulative loss starting from fiscal year 2023.
Valuation allowance for federal and state deferred tax assets			$ 17,800

SHAREHOLDERS' EQUITY (Narrative

SHAREHOLDERS' EQUITY (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended			9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Equity Class Of Treasury Stock [Line Items]
Shares issued under ESPP plan			621	648	443	1,712
Closing market price			$ 1.82	$ 1.56	$ 2.01
Proceeds from sale of common stock						$ 770	$ 0
At Market Issuance Sales Agreement
Equity Class Of Treasury Stock [Line Items]
Sale of share						0
Maximum
Equity Class Of Treasury Stock [Line Items]
Closing market price						$ 2.01
Proceeds from issuance of debt or sale of equity securities		$ 100,000
Maximum | At Market Issuance Sales Agreement
Equity Class Of Treasury Stock [Line Items]
Proceeds from sale of common stock	$ 50,000
Minimum
Equity Class Of Treasury Stock [Line Items]
Closing market price						$ 1.56

SHAREHOLDERS' EQUITY (Schedule

SHAREHOLDERS' EQUITY (Schedule of ESPP Activity) (Details) - $ / shares	3 Months Ended			9 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2022
Shares issued under ESPP plan	621	648	443	1,712
Closing market price	$ 1.82	$ 1.56	$ 2.01
Minimum [Member]
Closing market price				$ 1.56
Maximum [Member]
Closing market price				$ 2.01

STOCK OPTIONS AND RESTRICTED _3

STOCK OPTIONS AND RESTRICTED SHARES (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Dec. 31, 2022	Aug. 07, 2019	Aug. 03, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred stock-based compensation related to grants of restricted shares, period of recognition	2 years 10 months 24 days
Deferred stock-based compensation related to grants of restricted shares	$ 1.3
2016 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reserved shares for issuance to eligible participants (in shares)		3,500,000	1,750,000
Increase in number of common stock shares available for issuance		1,750,000

STOCK OPTIONS AND RESTRICTED _4

STOCK OPTIONS AND RESTRICTED SHARES (Stock-based Compensation) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Stock-based compensation
Total	$ 448	$ 219	$ 1,435	$ 591
Cost of product revenue
Stock-based compensation
Total	2	1	3	4
General and administrative
Stock-based compensation
Total	444	214	1,425	574
Sales and marketing
Stock-based compensation
Total	0	3	4	10
Research and development
Stock-based compensation
Total	$ 2	$ 1	$ 3	$ 3

STOCK OPTIONS AND RESTRICTED _5

STOCK OPTIONS AND RESTRICTED SHARES (Restricted Shares and Stock Options) (Details)	9 Months Ended
	Dec. 31, 2022 $ / shares shares
Stock Options
Non-vested, beginning balance (shares)	142,428
Awards granted (shares)	0
Awards vested or exercised (shares)	(26,646)
Awards forfeited (shares)	(30,646)
Non-vested, ending balance (shares)	85,136
Per share weighted average price on grant date (USD per share) | $ / shares	$ 0
Restricted shares
Restricted Shares
Beginning balance (shares)	450,458
Awards granted (shares)	806,738
Awards vested or exercised (shares)	(535,622)
Awards forfeited (shares)	(23,120)
Ending balance (shares)	698,454
Per share weighted average price on grant date (USD per share) | $ / shares	$ 2.18

SEGMENTS (Reconciliation of Seg

SEGMENTS (Reconciliation of Segment Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Corporate and Other
Revenues	$ 20,288	$ 30,714	$ 55,754	$ 102,325
Operating Income (Loss)	(4,588)	1,332	(11,148)	9,781
Operating Segments | Orion Services Group
Corporate and Other
Revenues	8,623	20,021	27,405	68,961
Operating Income (Loss)	(1,858)	970	(5,630)	7,115
Operating Segments | Orion Distribution Services
Corporate and Other
Revenues	3,711	4,942	12,846	18,264
Operating Income (Loss)	(77)	491	6	3,173
Operating Segments | Orion U.S. Markets
Corporate and Other
Revenues	5,124	5,751	12,673	15,100
Operating Income (Loss)	532	1,250	1,028	3,198
Operating Segments | Orion Electric Vehicle Charging
Corporate and Other
Revenues	2,830	0	2,830	0
Operating Income (Loss)	(1,500)	0	(1,500)	0
Corporate and Other
Corporate and Other
Revenues	0	0	0	0
Operating Income (Loss)	$ (1,685)	$ (1,379)	$ (5,052)	$ (3,705)

ACQUISITION (Narrative) (Detail

ACQUISITION (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended			9 Months Ended		12 Months Ended
	Oct. 05, 2022	Jan. 01, 2022	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2025	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Business Acquisition [Line Items]
Business combination, cash purchase price						$ 5,508	$ 3,697
Value of Common Stock			$ 0			0					$ 0
Business acquisition, pro forma revenue											134,900
Business acquisition, pro forma operating income loss											$ 5,800
Business acquisition cost of acquired entity transaction costs			$ 500		$ 200	800	$ 200
Expense
Business Acquisition [Line Items]
Accretion earnout liability						200
Stay-Lite Lighting, Inc.
Business Acquisition [Line Items]
Business combination, cash purchase price		$ 4,300
Purchase price		4,300
Business combination, working capital adjustment received				$ 100
Business combination, estimate of earn-out liability		200
Voltrek LLC
Business Acquisition [Line Items]
Business combination, cash purchase price	$ 5,000
Purchase price	$ 6,700
Payments For Previous Acquisition in Share	$ 620,067
Value of Common Stock	$ 1,000
Recorded In Opening Balance Sheet	$ 800
Business acquisition, pro forma revenue						58,200
Business acquisition, pro forma operating income loss						$ (28,900)
Voltrek LLC | Subsequent Event
Business Acquisition [Line Items]
Business combination additional earnout related purchase price								$ 7,150	$ 3,500	$ 3,000
Maximum | Stay-Lite Lighting, Inc.
Business Acquisition [Line Items]
Business combination, earnout related purchase price		$ 700

ACQUISITION - Schedule of Preli

ACQUISITION - Schedule of Preliminary Allocation of Purchase Consideration to Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Oct. 05, 2022	Mar. 31, 2022	Jan. 01, 2022
Business Acquisition [Line Items]
Goodwill	$ 1,425		$ 350
Stay-Lite Lighting, Inc.
Business Acquisition [Line Items]
Cash				$ 95
Accounts receivable				2,690
Revenue earned but not billed				342
Inventory				504
Prepaid expenses and other current assets				41
Property and equipment				725
Goodwill				564
Other intangible assets				673
Other long-term assets				537
Accounts payable				(965)
Accrued expenses and other				(492)
Other long-term liabilities				(411)
Net purchase consideration				$ 4,303
Voltrek LLC
Business Acquisition [Line Items]
Cash		$ 416
Accounts receivable		1,438
Revenue earned but not billed		365
Inventory		880
Prepaid expenses and other current assets		39
Property and equipment		4
Goodwill		861
Other intangible assets		4,200
Other long-term assets		211
Accounts payable		(1,199)
Accrued expenses and other		(286)
Other long-term liabilities		(180)
Net purchase consideration		$ 6,749

ACQUISITION - Schedule of Intan

ACQUISITION - Schedule of Intangible Assets Acquired at Date of Acquisition (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2022 USD ($)
Stay-Lite Lighting, Inc. | Trade name
Business Acquisition [Line Items]
Estimated Fair Value	$ 164
Estimated Useful Life (Years)	5 years
Stay-Lite Lighting, Inc. | Customer relationships
Business Acquisition [Line Items]
Estimated Fair Value	$ 509
Estimated Useful Life (Years)	8 years
Voltrek LLC | Trade name
Business Acquisition [Line Items]
Estimated Fair Value	$ 400
Estimated Useful Life (Years)	5 years
Voltrek LLC | Customer relationships
Business Acquisition [Line Items]
Estimated Fair Value	$ 1,500
Estimated Useful Life (Years)	3 years
Voltrek LLC | Vendor Relationship
Business Acquisition [Line Items]
Estimated Fair Value	$ 2,300
Estimated Useful Life (Years)	7 years

SUBSEQUENT EVENTS (Additional I

SUBSEQUENT EVENTS (Additional Information) (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Subsequent Event [Line Items]
Business combination, cash purchase price	$ 5,508	$ 3,697