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Side-by-side financial comparison of Energy Recovery, Inc. (ERII) and Exzeo Group, Inc. (XZO). Click either name above to swap in a different company.
Energy Recovery, Inc. is the larger business by last-quarter revenue ($66.9M vs $55.5M, roughly 1.2× Exzeo Group, Inc.). Energy Recovery, Inc. runs the higher net margin — 40.2% vs 36.7%, a 3.5% gap on every dollar of revenue. On growth, Exzeo Group, Inc. posted the faster year-over-year revenue change (6.0% vs -0.3%). Exzeo Group, Inc. produced more free cash flow last quarter ($25.1M vs $6.4M).
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
Exzeo Group, Inc. is a global technology firm specializing in cloud-native SaaS solutions for the insurance industry. Its core product portfolio includes claims processing platforms, policy administration tools, and underwriting automation systems, serving insurance carriers, third-party administrators, and independent adjusters across North America and European markets.
ERII vs XZO — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $66.9M | $55.5M |
| Net Profit | $26.9M | $20.4M |
| Gross Margin | 67.2% | 59.0% |
| Operating Margin | 46.8% | 45.2% |
| Net Margin | 40.2% | 36.7% |
| Revenue YoY | -0.3% | 6.0% |
| Net Profit YoY | 14.7% | 13.7% |
| EPS (diluted) | $0.49 | $0.22 |
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.
| Q1 26 | — | $55.5M | ||
| Q4 25 | $66.9M | $53.3M | ||
| Q3 25 | $32.0M | $55.2M | ||
| Q2 25 | $28.1M | — | ||
| Q4 24 | $67.1M | — | ||
| Q3 24 | $38.6M | — | ||
| Q2 24 | $27.2M | — | ||
| Q1 24 | $12.1M | — |
| Q1 26 | — | $20.4M | ||
| Q4 25 | $26.9M | $22.0M | ||
| Q3 25 | $3.9M | $21.2M | ||
| Q2 25 | $2.1M | — | ||
| Q4 24 | $23.5M | — | ||
| Q3 24 | $8.5M | — | ||
| Q2 24 | $-642.0K | — | ||
| Q1 24 | $-8.3M | — |
| Q1 26 | — | 59.0% | ||
| Q4 25 | 67.2% | 65.4% | ||
| Q3 25 | 64.2% | 61.2% | ||
| Q2 25 | 64.0% | — | ||
| Q4 24 | 70.2% | — | ||
| Q3 24 | 65.1% | — | ||
| Q2 24 | 64.6% | — | ||
| Q1 24 | 59.0% | — |
| Q1 26 | — | 45.2% | ||
| Q4 25 | 46.8% | 50.3% | ||
| Q3 25 | 11.4% | 49.4% | ||
| Q2 25 | 5.3% | — | ||
| Q4 24 | 38.2% | — | ||
| Q3 24 | 18.3% | — | ||
| Q2 24 | -7.4% | — | ||
| Q1 24 | -90.4% | — |
| Q1 26 | — | 36.7% | ||
| Q4 25 | 40.2% | 41.2% | ||
| Q3 25 | 12.1% | 38.3% | ||
| Q2 25 | 7.3% | — | ||
| Q4 24 | 35.0% | — | ||
| Q3 24 | 22.0% | — | ||
| Q2 24 | -2.4% | — | ||
| Q1 24 | -68.3% | — |
| Q1 26 | — | $0.22 | ||
| Q4 25 | $0.49 | $0.25 | ||
| Q3 25 | $0.07 | $0.25 | ||
| Q2 25 | $0.04 | — | ||
| Q4 24 | $0.40 | — | ||
| Q3 24 | $0.15 | — | ||
| Q2 24 | $-0.01 | — | ||
| Q1 24 | $-0.14 | — |
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 | $231.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $206.2M | $274.9M |
| Total Assets | $231.5M | $379.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $231.4M | ||
| Q4 25 | $75.2M | $305.4M | ||
| Q3 25 | $70.4M | $140.9M | ||
| Q2 25 | $79.5M | — | ||
| Q4 24 | $78.0M | — | ||
| Q3 24 | $118.6M | — | ||
| Q2 24 | $101.0M | — | ||
| Q1 24 | $117.4M | — |
| Q1 26 | — | $274.9M | ||
| Q4 25 | $206.2M | $254.2M | ||
| Q3 25 | $180.8M | $78.4M | ||
| Q2 25 | $185.2M | — | ||
| Q4 24 | $210.0M | — | ||
| Q3 24 | $233.9M | — | ||
| Q2 24 | $218.5M | — | ||
| Q1 24 | $216.0M | — |
| Q1 26 | — | $379.8M | ||
| Q4 25 | $231.5M | $347.7M | ||
| Q3 25 | $209.6M | $182.3M | ||
| Q2 25 | $212.3M | — | ||
| Q4 24 | $242.8M | — | ||
| Q3 24 | $262.7M | — | ||
| Q2 24 | $249.0M | — | ||
| Q1 24 | $244.3M | — |
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 | — |
| Free Cash FlowOCF − Capex | $6.4M | $25.1M |
| FCF MarginFCF / Revenue | 9.6% | 45.3% |
| Capex IntensityCapex / Revenue | 1.0% | 0.6% |
| Cash ConversionOCF / Net Profit | 0.26× | — |
| TTM Free Cash FlowTrailing 4 quarters | $15.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $7.1M | — | ||
| Q3 25 | $-3.1M | $89.0M | ||
| Q2 25 | $4.1M | — | ||
| Q4 24 | $9.0M | — | ||
| Q3 24 | $-3.0M | — | ||
| Q2 24 | $8.1M | — | ||
| Q1 24 | $6.5M | — |
| Q1 26 | — | $25.1M | ||
| Q4 25 | $6.4M | $97.5M | ||
| Q3 25 | $-3.5M | $86.6M | ||
| Q2 25 | $4.0M | — | ||
| Q4 24 | $8.9M | — | ||
| Q3 24 | $-3.2M | — | ||
| Q2 24 | $7.9M | — | ||
| Q1 24 | $5.7M | — |
| Q1 26 | — | 45.3% | ||
| Q4 25 | 9.6% | 182.8% | ||
| Q3 25 | -10.9% | 156.9% | ||
| Q2 25 | 14.3% | — | ||
| Q4 24 | 13.2% | — | ||
| Q3 24 | -8.2% | — | ||
| Q2 24 | 28.9% | — | ||
| Q1 24 | 46.9% | — |
| Q1 26 | — | 0.6% | ||
| Q4 25 | 1.0% | 5.3% | ||
| Q3 25 | 1.1% | 4.4% | ||
| Q2 25 | 0.5% | — | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | 0.7% | — | ||
| Q1 24 | 6.8% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.26× | — | ||
| Q3 25 | -0.81× | 4.21× | ||
| Q2 25 | 2.02× | — | ||
| 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% |
XZO
Segment breakdown not available.
