GOODWILL AND OTHER INTANGIBLE ASSETS

3 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 9 — GOODWILL AND OTHER INTANGIBLE ASSETS

Orion has $0.9 million of goodwill related to its purchase of Voltrek LLC ("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 Maintenance operating segment.

As of June 30, 2024 and March 31, 2024, the components of, and changes in, the carrying amount of other intangible assets, net, were as follows (dollars in thousands):


	June 30, 2024									March 31, 2024
	Gross Carrying Amount		Accumulated Amortization			Net		Weighted Average Useful Life		Gross Carrying Amount		Accumulated Amortization			Net
Amortized Intangible Assets
Patents	$	2,521	$	(2,053	)	$	468		8.1	$	2,521	$	(2,029	)	$	492
Licenses		58		(58	)		—		—		58		(58	)		—
Trade name and trademarks		300		(104	)		196		3.3		300		(90	)		210
Customer relationships		5,000		(4,413	)		587		1.3		5,000		(4,296	)		704
Vendor relationships		2,600		(647	)		1,953		5.3		2,600		(554	)		2,046
Developed technology		900		(900	)		—		—		900		(900	)		—
Total Amortized Intangible Assets	$	11,379	$	(8,175	)	$	3,204		4.8	$	11,379	$	(7,927	)	$	3,452

Indefinite-lived Intangible Assets
Trade name and trademarks	$	1,010	$	—		$	1,010			$	1,010	$	—		$	1,010
Total Non-Amortized Intangible Assets	$	1,010	$	—		$	1,010			$	1,010	$	—		$	1,010

Amortization expense on intangible assets was $0.2 million and $0.3 million for the three months ended June 30, 2024 and 2023, respectively.

The estimated amortization expense for the remainder of fiscal 2024, the next five fiscal years and beyond is shown below (dollars in thousands):


Fiscal 2025 (period remaining)	$	741
Fiscal 2026		751
Fiscal 2027		501
Fiscal 2028		455
Fiscal 2029		407
Thereafter		349
Total	$	3,204