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Side-by-side financial comparison of Energy Recovery, Inc. (ERII) and Lulu's Fashion Lounge Holdings, Inc. (LVLU). Click either name above to swap in a different company.
Energy Recovery, Inc. is the larger business by last-quarter revenue ($66.9M vs $66.1M, roughly 1.0× Lulu's Fashion Lounge Holdings, Inc.). Energy Recovery, Inc. runs the higher net margin — 40.2% vs -48.2%, a 88.4% gap on every dollar of revenue. On growth, Energy Recovery, Inc. posted the faster year-over-year revenue change (-0.3% vs -11.8%). Energy Recovery, Inc. produced more free cash flow last quarter ($6.4M vs $-2.6M). Over the past eight quarters, Energy Recovery, Inc.'s revenue compounded faster (8.1% CAGR vs -14.7%).
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
Lulu's Fashion Lounge Holdings, Inc. is a direct-to-consumer women's fashion retailer offering affordable, trendy apparel, footwear, and accessories. It primarily serves Gen Z and millennial consumers across North America, operating mainly via its e-commerce platform, with limited pop-up physical locations to boost customer engagement.
ERII vs LVLU — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2024
| Metric | | |
|---|---|---|
| Revenue | $66.9M | $66.1M |
| Net Profit | $26.9M | $-31.9M |
| Gross Margin | 67.2% | 37.9% |
| Operating Margin | 46.8% | -52.8% |
| Net Margin | 40.2% | -48.2% |
| Revenue YoY | -0.3% | -11.8% |
| Net Profit YoY | 14.7% | -340.9% |
| EPS (diluted) | $0.49 | $-13.46 |
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 | — | ||
| Q3 25 | $32.0M | — | ||
| Q2 25 | $28.1M | — | ||
| Q4 24 | $67.1M | $66.1M | ||
| Q3 24 | $38.6M | $80.5M | ||
| Q2 24 | $27.2M | $92.0M | ||
| Q1 24 | $12.1M | $77.3M | ||
| Q4 23 | $57.2M | $83.1M |
| Q4 25 | $26.9M | — | ||
| Q3 25 | $3.9M | — | ||
| Q2 25 | $2.1M | — | ||
| Q4 24 | $23.5M | $-31.9M | ||
| Q3 24 | $8.5M | $-6.9M | ||
| Q2 24 | $-642.0K | $-10.8M | ||
| Q1 24 | $-8.3M | $-5.7M | ||
| Q4 23 | $19.8M | $-3.9M |
| Q4 25 | 67.2% | — | ||
| Q3 25 | 64.2% | — | ||
| Q2 25 | 64.0% | — | ||
| Q4 24 | 70.2% | 37.9% | ||
| Q3 24 | 65.1% | 38.1% | ||
| Q2 24 | 64.6% | 45.5% | ||
| Q1 24 | 59.0% | 42.3% | ||
| Q4 23 | 69.1% | 40.3% |
| Q4 25 | 46.8% | — | ||
| Q3 25 | 11.4% | — | ||
| Q2 25 | 5.3% | — | ||
| Q4 24 | 38.2% | -52.8% | ||
| Q3 24 | 18.3% | -8.5% | ||
| Q2 24 | -7.4% | -4.9% | ||
| Q1 24 | -90.4% | -8.0% | ||
| Q4 23 | 36.0% | -5.9% |
| Q4 25 | 40.2% | — | ||
| Q3 25 | 12.1% | — | ||
| Q2 25 | 7.3% | — | ||
| Q4 24 | 35.0% | -48.2% | ||
| Q3 24 | 22.0% | -8.5% | ||
| Q2 24 | -2.4% | -11.7% | ||
| Q1 24 | -68.3% | -7.4% | ||
| Q4 23 | 34.6% | -4.7% |
| Q4 25 | $0.49 | — | ||
| Q3 25 | $0.07 | — | ||
| Q2 25 | $0.04 | — | ||
| Q4 24 | $0.40 | $-13.46 | ||
| Q3 24 | $0.15 | $-2.47 | ||
| Q2 24 | $-0.01 | $-3.92 | ||
| Q1 24 | $-0.14 | $-0.15 | ||
| Q4 23 | $0.34 | $-0.10 |
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 | $4.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $206.2M | $13.4M |
| Total Assets | $231.5M | $108.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | — | ||
| Q3 25 | $70.4M | — | ||
| Q2 25 | $79.5M | — | ||
| Q4 24 | $78.0M | $4.5M | ||
| Q3 24 | $118.6M | $6.3M | ||
| Q2 24 | $101.0M | $1.8M | ||
| Q1 24 | $117.4M | $5.5M | ||
| Q4 23 | $108.5M | $12.9M |
| Q4 25 | $206.2M | — | ||
| Q3 25 | $180.8M | — | ||
| Q2 25 | $185.2M | — | ||
| Q4 24 | $210.0M | $13.4M | ||
| Q3 24 | $233.9M | $43.8M | ||
| Q2 24 | $218.5M | $48.7M | ||
| Q1 24 | $216.0M | $57.7M | ||
| Q4 23 | $219.8M | $64.7M |
| Q4 25 | $231.5M | — | ||
| Q3 25 | $209.6M | — | ||
| Q2 25 | $212.3M | — | ||
| Q4 24 | $242.8M | $108.2M | ||
| Q3 24 | $262.7M | $153.5M | ||
| Q2 24 | $249.0M | $145.3M | ||
| Q1 24 | $244.3M | $160.6M | ||
| Q4 23 | $253.0M | $167.4M |
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 | $-2.5M |
| Free Cash FlowOCF − Capex | $6.4M | $-2.6M |
| FCF MarginFCF / Revenue | 9.6% | -3.9% |
| Capex IntensityCapex / Revenue | 1.0% | 0.0% |
| Cash ConversionOCF / Net Profit | 0.26× | — |
| TTM Free Cash FlowTrailing 4 quarters | $15.8M | $1.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.1M | — | ||
| Q3 25 | $-3.1M | — | ||
| Q2 25 | $4.1M | — | ||
| Q4 24 | $9.0M | $-2.5M | ||
| Q3 24 | $-3.0M | $-5.5M | ||
| Q2 24 | $8.1M | $3.7M | ||
| Q1 24 | $6.5M | $6.9M | ||
| Q4 23 | $13.8M | $12.7M |
| Q4 25 | $6.4M | — | ||
| Q3 25 | $-3.5M | — | ||
| Q2 25 | $4.0M | — | ||
| Q4 24 | $8.9M | $-2.6M | ||
| Q3 24 | $-3.2M | $-5.9M | ||
| Q2 24 | $7.9M | $3.4M | ||
| Q1 24 | $5.7M | $6.4M | ||
| Q4 23 | $12.4M | $12.1M |
| Q4 25 | 9.6% | — | ||
| Q3 25 | -10.9% | — | ||
| Q2 25 | 14.3% | — | ||
| Q4 24 | 13.2% | -3.9% | ||
| Q3 24 | -8.2% | -7.3% | ||
| Q2 24 | 28.9% | 3.7% | ||
| Q1 24 | 46.9% | 8.3% | ||
| Q4 23 | 21.7% | 14.5% |
| Q4 25 | 1.0% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 0.5% | — | ||
| Q4 24 | 0.2% | 0.0% | ||
| Q3 24 | 0.4% | 0.5% | ||
| Q2 24 | 0.7% | 0.4% | ||
| Q1 24 | 6.8% | 0.7% | ||
| Q4 23 | 2.4% | 0.8% |
| Q4 25 | 0.26× | — | ||
| Q3 25 | -0.81× | — | ||
| Q2 25 | 2.02× | — | ||
| Q4 24 | 0.38× | — | ||
| Q3 24 | -0.35× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | 0.70× | — |
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% |
LVLU
| Single Reportable Segment | $63.0M | 95% |
| Other | $2.4M | 4% |
| Stored Value Cards | $750.0K | 1% |
