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Side-by-side financial comparison of Energy Recovery, Inc. (ERII) and HARROW, INC. (HROW). Click either name above to swap in a different company.
HARROW, INC. is the larger business by last-quarter revenue ($89.1M vs $66.9M, roughly 1.3× Energy Recovery, Inc.). Energy Recovery, Inc. runs the higher net margin — 40.2% vs 7.4%, a 32.8% gap on every dollar of revenue. On growth, HARROW, INC. posted the faster year-over-year revenue change (33.3% vs -0.3%). HARROW, INC. produced more free cash flow last quarter ($8.1M vs $6.4M). Over the past eight quarters, HARROW, INC.'s revenue compounded faster (60.5% CAGR vs 8.1%).
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
Harrow Health, Inc., formerly known as Imprimis Pharmaceuticals, is a publicly traded pharmaceutical company based in Nashville, Tennessee.
ERII vs HROW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $66.9M | $89.1M |
| Net Profit | $26.9M | $6.6M |
| Gross Margin | 67.2% | 79.3% |
| Operating Margin | 46.8% | 17.5% |
| Net Margin | 40.2% | 7.4% |
| Revenue YoY | -0.3% | 33.3% |
| Net Profit YoY | 14.7% | -2.2% |
| EPS (diluted) | $0.49 | $0.20 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $66.9M | $89.1M | ||
| Q3 25 | $32.0M | $71.6M | ||
| Q2 25 | $28.1M | $63.7M | ||
| Q1 25 | — | $47.8M | ||
| Q4 24 | $67.1M | $66.8M | ||
| Q3 24 | $38.6M | $49.3M | ||
| Q2 24 | $27.2M | $48.9M | ||
| Q1 24 | $12.1M | $34.6M |
| Q4 25 | $26.9M | $6.6M | ||
| Q3 25 | $3.9M | $1.0M | ||
| Q2 25 | $2.1M | $5.0M | ||
| Q1 25 | — | $-17.8M | ||
| Q4 24 | $23.5M | $6.8M | ||
| Q3 24 | $8.5M | $-4.2M | ||
| Q2 24 | $-642.0K | $-6.5M | ||
| Q1 24 | $-8.3M | $-13.6M |
| Q4 25 | 67.2% | 79.3% | ||
| Q3 25 | 64.2% | 75.3% | ||
| Q2 25 | 64.0% | 74.5% | ||
| Q1 25 | — | 67.5% | ||
| Q4 24 | 70.2% | 78.8% | ||
| Q3 24 | 65.1% | 75.6% | ||
| Q2 24 | 64.6% | 74.4% | ||
| Q1 24 | 59.0% | 69.5% |
| Q4 25 | 46.8% | 17.5% | ||
| Q3 25 | 11.4% | 20.6% | ||
| Q2 25 | 5.3% | 17.9% | ||
| Q1 25 | — | -23.5% | ||
| Q4 24 | 38.2% | 19.3% | ||
| Q3 24 | 18.3% | 2.7% | ||
| Q2 24 | -7.4% | 3.1% | ||
| Q1 24 | -90.4% | -20.0% |
| Q4 25 | 40.2% | 7.4% | ||
| Q3 25 | 12.1% | 1.4% | ||
| Q2 25 | 7.3% | 7.8% | ||
| Q1 25 | — | -37.2% | ||
| Q4 24 | 35.0% | 10.1% | ||
| Q3 24 | 22.0% | -8.6% | ||
| Q2 24 | -2.4% | -13.2% | ||
| Q1 24 | -68.3% | -39.2% |
| Q4 25 | $0.49 | $0.20 | ||
| Q3 25 | $0.07 | $0.03 | ||
| Q2 25 | $0.04 | $0.13 | ||
| Q1 25 | — | $-0.50 | ||
| Q4 24 | $0.40 | $0.19 | ||
| Q3 24 | $0.15 | $-0.12 | ||
| Q2 24 | $-0.01 | $-0.18 | ||
| Q1 24 | $-0.14 | $-0.38 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $75.2M | $72.9M |
| Total DebtLower is stronger | — | $250.0M |
| Stockholders' EquityBook value | $206.2M | $52.4M |
| Total Assets | $231.5M | $399.5M |
| Debt / EquityLower = less leverage | — | 4.77× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $72.9M | ||
| Q3 25 | $70.4M | $74.3M | ||
| Q2 25 | $79.5M | $53.0M | ||
| Q1 25 | — | $66.7M | ||
| Q4 24 | $78.0M | $47.2M | ||
| Q3 24 | $118.6M | $72.6M | ||
| Q2 24 | $101.0M | $71.0M | ||
| Q1 24 | $117.4M | $76.0M |
| Q4 25 | — | $250.0M | ||
| Q3 25 | — | $347.2M | ||
| Q2 25 | — | $250.6M | ||
| Q1 25 | — | $256.9M | ||
| Q4 24 | — | $262.7M | ||
| Q3 24 | — | $230.7M | ||
| Q2 24 | — | $236.3M | ||
| Q1 24 | — | $243.4M |
| Q4 25 | $206.2M | $52.4M | ||
| Q3 25 | $180.8M | $47.0M | ||
| Q2 25 | $185.2M | $49.7M | ||
| Q1 25 | — | $56.5M | ||
| Q4 24 | $210.0M | $69.7M | ||
| Q3 24 | $233.9M | $58.0M | ||
| Q2 24 | $218.5M | $58.5M | ||
| Q1 24 | $216.0M | $60.6M |
| Q4 25 | $231.5M | $399.5M | ||
| Q3 25 | $209.6M | $363.1M | ||
| Q2 25 | $212.3M | $345.0M | ||
| Q1 25 | — | $364.2M | ||
| Q4 24 | $242.8M | $389.0M | ||
| Q3 24 | $262.7M | $351.5M | ||
| Q2 24 | $249.0M | $306.6M | ||
| Q1 24 | $244.3M | $295.5M |
| Q4 25 | — | 4.77× | ||
| Q3 25 | — | 7.39× | ||
| Q2 25 | — | 5.05× | ||
| Q1 25 | — | 4.55× | ||
| Q4 24 | — | 3.77× | ||
| Q3 24 | — | 3.98× | ||
| Q2 24 | — | 4.04× | ||
| Q1 24 | — | 4.02× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $7.1M | $8.4M |
| Free Cash FlowOCF − Capex | $6.4M | $8.1M |
| FCF MarginFCF / Revenue | 9.6% | 9.1% |
| Capex IntensityCapex / Revenue | 1.0% | 0.4% |
| Cash ConversionOCF / Net Profit | 0.26× | 1.27× |
| TTM Free Cash FlowTrailing 4 quarters | $15.8M | $43.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.1M | $8.4M | ||
| Q3 25 | $-3.1M | $16.6M | ||
| Q2 25 | $4.1M | $-803.0K | ||
| Q1 25 | — | $19.7M | ||
| Q4 24 | $9.0M | $-17.8M | ||
| Q3 24 | $-3.0M | $3.0M | ||
| Q2 24 | $8.1M | $-2.7M | ||
| Q1 24 | $6.5M | $-4.6M |
| Q4 25 | $6.4M | $8.1M | ||
| Q3 25 | $-3.5M | $16.4M | ||
| Q2 25 | $4.0M | $-969.0K | ||
| Q1 25 | — | $19.5M | ||
| Q4 24 | $8.9M | $-18.3M | ||
| Q3 24 | $-3.2M | $2.3M | ||
| Q2 24 | $7.9M | $-3.1M | ||
| Q1 24 | $5.7M | $-4.7M |
| Q4 25 | 9.6% | 9.1% | ||
| Q3 25 | -10.9% | 22.9% | ||
| Q2 25 | 14.3% | -1.5% | ||
| Q1 25 | — | 40.8% | ||
| Q4 24 | 13.2% | -27.4% | ||
| Q3 24 | -8.2% | 4.8% | ||
| Q2 24 | 28.9% | -6.3% | ||
| Q1 24 | 46.9% | -13.6% |
| Q4 25 | 1.0% | 0.4% | ||
| Q3 25 | 1.1% | 0.3% | ||
| Q2 25 | 0.5% | 0.3% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | 0.2% | 0.8% | ||
| Q3 24 | 0.4% | 1.2% | ||
| Q2 24 | 0.7% | 0.7% | ||
| Q1 24 | 6.8% | 0.3% |
| Q4 25 | 0.26× | 1.27× | ||
| Q3 25 | -0.81× | 16.26× | ||
| Q2 25 | 2.02× | -0.16× | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.38× | -2.62× | ||
| Q3 24 | -0.35× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ERII
| Water Segment | $38.6M | 58% |
| Other | $11.0M | 16% |
| Original Equipment Manufacturer | $10.6M | 16% |
| Aftermarket | $6.6M | 10% |
HROW
Segment breakdown not available.
