Energy Recovery, Inc.ERIIEarnings & Financial Report
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
Revenue
$32.0M
Gross Profit
$20.6M
Operating Profit
$3.7M
Net Profit
$3.9M
Gross Margin
64.2%
Operating Margin
11.4%
Net Margin
12.1%
YoY Growth
-17.1%
EPS
$0.07
Financial Flow
Energy Recovery, Inc. Q3 2025 Financial Summary
Energy Recovery, Inc. reported revenue of $32.0M (down 17.1% YoY) for Q3 2025, with a net profit of $3.9M (down 54.3% YoY) (12.1% margin). Cost of goods sold was $11.4M, operating expenses totaled $16.9M.
Key Financial Metrics
| Total Revenue | $32.0M |
|---|---|
| Net Profit | $3.9M |
| Gross Margin | 64.2% |
| Operating Margin | 11.4% |
| Report Period | Q3 2025 |
Revenue Breakdown
Energy Recovery, Inc. Q3 2025 revenue of $32.0M breaks down across 3 segments, led by Megaproject at $18.4M (57.5% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Megaproject | $18.4M | 57.5% |
| Original Equipment Manufacturer | $8.9M | 27.8% |
| Aftermarket | $4.6M | 14.5% |
Energy Recovery, Inc. Revenue by Segment — Quarterly Trend
Energy Recovery, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Megaproject and Original Equipment Manufacturer) has evolved quarter over quarter.
| Segment | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|
| Megaproject | — | $18.4M | $14.8M | — |
| Original Equipment Manufacturer | $10.6M | $8.9M | $8.2M | $4.0M |
| Aftermarket | $6.6M | $4.6M | $4.8M | — |
Energy Recovery, Inc. Annual Revenue by Year
Energy Recovery, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $135.0M).
| Year | Annual Revenue |
|---|---|
| 2025 | $135.0M |
| 2024 | $144.9M |
| 2023 | $128.3M |
| 2022 | $125.6M |
Energy Recovery, Inc. Quarterly Revenue & Net Profit History
Energy Recovery, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 2025 | $66.9M | -0.3% | $26.9M | 40.2% |
| Q3 2025 | $32.0M | -17.1% | $3.9M | 12.1% |
| Q2 2025 | $28.1M | +3.1% | $2.1M | 7.3% |
| Q1 2025 | $8.1M | -33.3% | $-9.9M | -122.5% |
| Q4 2024 | $67.1M | +17.3% | $23.5M | 35.0% |
| Q3 2024 | $38.6M | +4.2% | $8.5M | 22.0% |
| Q2 2024 | $27.2M | +31.3% | $-642.0K | -2.4% |
| Q1 2024 | $12.1M | -9.8% | $-8.3M | -68.3% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.1M | $27.2M | $38.6M | $67.1M | $8.1M | $28.1M | $32.0M | $66.9M |
| YoY Growth | -9.8% | 31.3% | 4.2% | 17.3% | -33.3% | 3.1% | -17.1% | -0.3% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $244.3M | $249.0M | $262.7M | $242.8M | $225.4M | $212.3M | $209.6M | $231.5M |
| Liabilities | $28.2M | $30.5M | $28.8M | $32.8M | $27.3M | $27.1M | $28.8M | $25.3M |
| Equity | $216.0M | $218.5M | $233.9M | $210.0M | $198.1M | $185.2M | $180.8M | $206.2M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $6.5M | $8.1M | $-3.0M | $9.0M | $10.7M | $4.1M | $-3.1M | $7.1M |