ERII (Energy Recovery, Inc.) Stock Financials & Earnings | Market Cap Arena

ERII (Energy Recovery, Inc.) Stock Financials & Earnings | Market Cap Arena

ERIIEnergy Recovery, Inc.

Mkt Cap$586M

Industrials·Industrial - Pollution & Treatment Controls·🇺🇸 United States·NASDAQ

Revenue (TTM)$135M

Net Income (TTM)$23M

EPS (TTM)$0.43

Free Cash Flow (TTM)$13M

Gross Margin65.2%

Op. Margin18.2%

Net Margin17.0%

FCF Margin10.0%

P/S Ratio (TTM)4.4x

P/E Ratio (TTM)25.5x

YoY Rev Growth-7.1%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$13M	$8M	-$8M
Q2 23	$21M	$14M	-$3M
Q3 23	$37M	$26M	$9M
Q4 23	$57M	$39M	$21M
Q1 24	$12M	$7M	-$11M
Q2 24	$27M	$18M	-$2M
Q3 24	$39M	$25M	$7M
Q4 24	$67M	$47M	$26M
Q1 25	$8M	$4M	-$13M
Q2 25	$28M	$18M	$1M
Q3 25	$32M	$21M	$4M
Q4 25	$67M	$45M	$32M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	5.5x	59.5x
Q2 23	5.5x	55.5x
Q3 23	5.2x	38.0x
Q4 23	4.6x	27.3x
Q1 24	4.6x	30.0x
Q2 24	4.4x	28.5x
Q3 24	4.3x	30.2x
Q4 24	4.0x	25.4x
Q1 25	4.2x	27.4x
Q2 25	4.1x	24.3x
Q3 25	4.3x	30.0x
Q4 25	4.4x	25.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$9M	$8M
Q2 23	-$4M	-$5M
Q3 23	$8M	$7M
Q4 23	$14M	$12M
Q1 24	$6M	$6M
Q2 24	$8M	$8M
Q3 24	-$3M	-$3M
Q4 24	$9M	$9M
Q1 25	$11M	$10M
Q2 25	$4M	$4M
Q3 25	-$3M	-$3M
Q4 25	$7M	$2M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$197K
Q2 23	$570K
Q3 23	$330K
Q4 23	$1M
Q1 24	$824K
Q2 24	$201K
Q3 24	$169K
Q4 24	$104K
Q1 25	$191K
Q2 25	$135K
Q3 25	$342K
Q4 25	$662K

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	-58.8%	-11.6%
Q2 23	+2.1%	+0.5%
Q3 23	+21.6%	+9.2%
Q4 23	+35.2%	+32.1%
Q1 24	-9.8%	+7.0%
Q2 24	+31.3%	+25.3%
Q3 24	+4.2%	+13.0%
Q4 24	+17.3%	+13.4%
Q1 25	-33.3%	-10.4%
Q2 25	+3.1%	-9.0%
Q3 25	-17.1%	-10.1%
Q4 25	-0.7%	-16.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$2M	17.2%
Q2 23	$2M	8.3%
Q3 23	$2M	4.8%
Q4 23	$2M	3.9%
Q1 24	$3M	27.2%
Q2 24	$3M	10.4%
Q3 24	$2M	6.3%
Q4 24	$2M	2.7%
Q1 25	$2M	24.3%
Q2 25	$2M	6.9%
Q3 25	$2M	6.9%
Q4 25	$14M	20.4%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 23	$4M	$7M	$5M	—
Q2 23	$4M	$7M	$5M	—
Q3 23	$4M	$7M	$5M	—
Q4 23	$5M	$7M	$7M	—
Q1 24	$4M	$8M	$6M	—
Q2 24	$4M	$10M	$6M	—
Q3 24	$4M	$8M	$6M	—
Q4 24	$4M	$8M	$7M	—
Q1 25	$3M	$9M	$5M	—
Q2 25	$3M	$8M	$5M	—
Q3 25	$4M	—	—	$13M
Q4 25	$4M	$6M	$5M	—

Revenue Segments

Quarter	Emerging Technologies Segment	Water Segment
Q1 23	$105K	$13M
Q2 23	$209K	$21M
Q3 23	$224K	$37M
Q4 23	$442K	$57M
Q1 24	$1K	$12M
Q2 24	$288K	$27M
Q3 24	$240K	$38M
Q4 24	$109K	$67M
Q1 25	$46K	$8M
Q2 25	$212K	$28M
Q3 25	$119K	$32M
Q4 25	—	$67M

Revenue by Geography

Quarter	Americas	Asia	Europe	Middle East And Africa
Q3 23	$5M	$6M	$2M	$25M
Q1 24	$4M	$2M	$1M	$5M
Q2 24	$2M	$8M	$3M	$15M
Q3 24	$1M	$7M	$3M	$28M
Q4 24	$2M	$19M	$3M	$43M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$66M	$32M	$99M
Q2 23	$44M	$51M	$95M
Q3 23	$51M	$33M	$85M
Q4 23	$68M	$40M	$109M
Q1 24	$71M	$47M	$117M
Q2 24	$40M	$61M	$101M
Q3 24	$63M	$55M	$119M
Q4 24	$30M	$48M	$78M
Q1 25	$49M	$34M	$84M
Q2 25	$57M	$22M	$80M
Q3 25	$47M	$23M	$70M
Q4 25	$48M	$27M	$75M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	56M	-2.1%
Q2 23	56M	+0.2%
Q3 23	58M	+2.8%
Q4 23	58M	-0.5%
Q1 24	57M	-1.0%
Q2 24	57M	+0.5%
Q3 24	58M	+1.6%
Q4 24	57M	-1.8%
Q1 25	55M	-4.1%
Q2 25	54M	-0.8%
Q3 25	53M	-1.9%
Q4 25	53M	-0.2%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$245K	124
FY 15	$392K	114
FY 16	$456K	120
FY 17	$475K	133
FY 18	$521K	143
FY 19	$387K	188
FY 20	$426K	216
FY 21	$468K	222
FY 22	$511K	246
FY 23	$477K	269
FY 24	$571K	254
FY 25	$586K	230