vs
Side-by-side financial comparison of Energy Recovery, Inc. (ERII) and ON24 INC. (ONTF). Click either name above to swap in a different company.
Energy Recovery, Inc. is the larger business by last-quarter revenue ($66.9M vs $34.6M, roughly 1.9× ON24 INC.). Energy Recovery, Inc. runs the higher net margin — 40.2% vs -18.8%, a 59.0% gap on every dollar of revenue. On growth, Energy Recovery, Inc. posted the faster year-over-year revenue change (-0.3% vs -5.6%). Energy Recovery, Inc. produced more free cash flow last quarter ($6.4M vs $-2.2M). Over the past eight quarters, Energy Recovery, Inc.'s revenue compounded faster (8.1% CAGR vs -4.2%).
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
ON24 Inc., a San Francisco-based company, is a cloud-based platform that develops and sells web-based webinar, virtual conferencing, content hub, and landing page applications as a service for marketing and sales teams in B2B organizations. In 2023 it expanded its offerings to include generative AI services.
ERII vs ONTF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $66.9M | $34.6M |
| Net Profit | $26.9M | $-6.5M |
| Gross Margin | 67.2% | 74.9% |
| Operating Margin | 46.8% | -23.5% |
| Net Margin | 40.2% | -18.8% |
| Revenue YoY | -0.3% | -5.6% |
| Net Profit YoY | 14.7% | 26.8% |
| EPS (diluted) | $0.49 | $-0.15 |
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 | $34.6M | ||
| Q3 25 | $32.0M | $34.6M | ||
| Q2 25 | $28.1M | $35.3M | ||
| Q1 25 | — | $34.7M | ||
| Q4 24 | $67.1M | $36.7M | ||
| Q3 24 | $38.6M | $36.3M | ||
| Q2 24 | $27.2M | $37.3M | ||
| Q1 24 | $12.1M | $37.7M |
| Q4 25 | $26.9M | $-6.5M | ||
| Q3 25 | $3.9M | $-6.4M | ||
| Q2 25 | $2.1M | $-7.3M | ||
| Q1 25 | — | $-8.7M | ||
| Q4 24 | $23.5M | $-8.9M | ||
| Q3 24 | $8.5M | $-11.4M | ||
| Q2 24 | $-642.0K | $-11.2M | ||
| Q1 24 | $-8.3M | $-10.7M |
| Q4 25 | 67.2% | 74.9% | ||
| Q3 25 | 64.2% | 74.7% | ||
| Q2 25 | 64.0% | 75.1% | ||
| Q1 25 | — | 73.8% | ||
| Q4 24 | 70.2% | 74.5% | ||
| Q3 24 | 65.1% | 74.3% | ||
| Q2 24 | 64.6% | 74.5% | ||
| Q1 24 | 59.0% | 74.1% |
| Q4 25 | 46.8% | -23.5% | ||
| Q3 25 | 11.4% | -23.1% | ||
| Q2 25 | 5.3% | -26.0% | ||
| Q1 25 | — | -30.1% | ||
| Q4 24 | 38.2% | -32.1% | ||
| Q3 24 | 18.3% | -36.7% | ||
| Q2 24 | -7.4% | -35.0% | ||
| Q1 24 | -90.4% | -33.1% |
| Q4 25 | 40.2% | -18.8% | ||
| Q3 25 | 12.1% | -18.4% | ||
| Q2 25 | 7.3% | -20.6% | ||
| Q1 25 | — | -25.1% | ||
| Q4 24 | 35.0% | -24.2% | ||
| Q3 24 | 22.0% | -31.4% | ||
| Q2 24 | -2.4% | -29.9% | ||
| Q1 24 | -68.3% | -28.4% |
| Q4 25 | $0.49 | $-0.15 | ||
| Q3 25 | $0.07 | $-0.15 | ||
| Q2 25 | $0.04 | $-0.17 | ||
| Q1 25 | — | $-0.21 | ||
| Q4 24 | $0.40 | $-0.21 | ||
| Q3 24 | $0.15 | $-0.27 | ||
| Q2 24 | $-0.01 | $-0.27 | ||
| Q1 24 | $-0.14 | $-0.26 |
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 | $37.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $206.2M | $139.4M |
| Total Assets | $231.5M | $228.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $37.0M | ||
| Q3 25 | $70.4M | $47.2M | ||
| Q2 25 | $79.5M | $37.7M | ||
| Q1 25 | — | $26.8M | ||
| Q4 24 | $78.0M | $14.9M | ||
| Q3 24 | $118.6M | $11.0M | ||
| Q2 24 | $101.0M | $15.5M | ||
| Q1 24 | $117.4M | $18.3M |
| Q4 25 | $206.2M | $139.4M | ||
| Q3 25 | $180.8M | $144.3M | ||
| Q2 25 | $185.2M | $150.0M | ||
| Q1 25 | — | $153.7M | ||
| Q4 24 | $210.0M | $159.4M | ||
| Q3 24 | $233.9M | $164.9M | ||
| Q2 24 | $218.5M | $170.8M | ||
| Q1 24 | $216.0M | $174.4M |
| Q4 25 | $231.5M | $228.4M | ||
| Q3 25 | $209.6M | $224.8M | ||
| Q2 25 | $212.3M | $235.1M | ||
| Q1 25 | — | $245.8M | ||
| Q4 24 | $242.8M | $251.0M | ||
| Q3 24 | $262.7M | $250.9M | ||
| Q2 24 | $249.0M | $259.0M | ||
| Q1 24 | $244.3M | $269.2M |
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 | $-1.1M |
| Free Cash FlowOCF − Capex | $6.4M | $-2.2M |
| FCF MarginFCF / Revenue | 9.6% | -6.4% |
| Capex IntensityCapex / Revenue | 1.0% | 3.3% |
| Cash ConversionOCF / Net Profit | 0.26× | — |
| TTM Free Cash FlowTrailing 4 quarters | $15.8M | $4.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.1M | $-1.1M | ||
| Q3 25 | $-3.1M | $2.5M | ||
| Q2 25 | $4.1M | $2.6M | ||
| Q1 25 | — | $3.4M | ||
| Q4 24 | $9.0M | $985.0K | ||
| Q3 24 | $-3.0M | $295.0K | ||
| Q2 24 | $8.1M | $1.4M | ||
| Q1 24 | $6.5M | $2.1M |
| Q4 25 | $6.4M | $-2.2M | ||
| Q3 25 | $-3.5M | $2.2M | ||
| Q2 25 | $4.0M | $2.1M | ||
| Q1 25 | — | $1.9M | ||
| Q4 24 | $8.9M | $424.0K | ||
| Q3 24 | $-3.2M | $143.0K | ||
| Q2 24 | $7.9M | $898.0K | ||
| Q1 24 | $5.7M | $1.1M |
| Q4 25 | 9.6% | -6.4% | ||
| Q3 25 | -10.9% | 6.2% | ||
| Q2 25 | 14.3% | 5.9% | ||
| Q1 25 | — | 5.6% | ||
| Q4 24 | 13.2% | 1.2% | ||
| Q3 24 | -8.2% | 0.4% | ||
| Q2 24 | 28.9% | 2.4% | ||
| Q1 24 | 46.9% | 2.9% |
| Q4 25 | 1.0% | 3.3% | ||
| Q3 25 | 1.1% | 1.1% | ||
| Q2 25 | 0.5% | 1.4% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | 0.2% | 1.5% | ||
| Q3 24 | 0.4% | 0.4% | ||
| Q2 24 | 0.7% | 1.3% | ||
| Q1 24 | 6.8% | 2.8% |
| Q4 25 | 0.26× | — | ||
| Q3 25 | -0.81× | — | ||
| Q2 25 | 2.02× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.38× | — | ||
| 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% |
ONTF
Segment breakdown not available.
