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GOODWILL AND OTHER INTANGIBLE ASSETS
 9 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS

NOTE 9 — GOODWILL AND OTHER INTANGIBLE ASSETS

Orion had $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 had $0.6 million of goodwill related to its purchase of Stay-Light Lighting, Inc. during fiscal year 2022, which has an indefinite life, and is assigned to the Maintenance operating segment.

As of December 31, 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):

 

 

 

December 31, 2024

 

 

March 31, 2024

 

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net

 

 

Weighted
Average
Useful Life

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net

 

Amortized Intangible Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Patents

 

$

2,528

 

 

$

(2,110

)

 

$

418

 

 

 

8.1

 

 

$

2,521

 

 

$

(2,029

)

 

$

492

 

Licenses

 

 

58

 

 

 

(58

)

 

 

—

 

 

 

—

 

 

 

58

 

 

 

(58

)

 

 

—

 

Trade name and trademarks

 

 

300

 

 

 

(134

)

 

 

166

 

 

 

2.8

 

 

 

300

 

 

 

(90

)

 

 

210

 

Customer relationships

 

 

5,000

 

 

 

(4,646

)

 

 

354

 

 

 

0.8

 

 

 

5,000

 

 

 

(4,296

)

 

 

704

 

Vendor relationships

 

 

2,600

 

 

 

(833

)

 

 

1,767

 

 

 

4.8

 

 

 

2,600

 

 

 

(554

)

 

 

2,046

 

Developed technology

 

 

900

 

 

 

(900

)

 

 

—

 

 

 

—

 

 

 

900

 

 

 

(900

)

 

 

—

 

Total Amortized Intangible Assets

 

$

11,386

 

 

$

(8,681

)

 

$

2,705

 

 

 

4.6

 

 

$

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 $0.3 million and $0.8 million for the three and nine months ended December 31, 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)

 

$

244

 

Fiscal 2026

 

 

745

 

Fiscal 2027

 

 

499

 

Fiscal 2028

 

 

455

 

Fiscal 2029

 

 

408

 

Thereafter

 

 

354

 

Total

 

$

2,705