Energy Recovery, Inc. (ERII)

Energy Recovery Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	134.99	144.95	128.35	125.59	103.9
Revenue Growth (YoY)	-6.87%	12.93%	2.20%	20.87%	-12.68%
Cost of Revenue	47.06	48.02	41.27	38.24	32.67
Gross Profit	87.93	96.93	87.08	87.36	71.23
Selling, General & Admin	50.7	58.5	51.03	44.62	37.33
Research & Development	13.03	16.24	17	17.91	20.07
Operating Expenses	63.73	74.73	68.03	62.53	57.4
Operating Income	24.2	22.2	19.05	24.83	13.83
Interest & Investment Income	-	6.22	3.76	0.91	0.2
Other Non Operating Income (Expenses)	3.71	-0.21	-0.1	0.33	-0.03
EBT Excluding Unusual Items	27.91	28.21	22.71	26.07	14
Merger & Restructuring Charges	-0.31	-2.48	-	-	-
Pretax Income	27.6	25.74	22.71	26.07	14
Income Tax Expense	4.63	2.69	1.2	2.02	-0.27
Net Income	22.96	23.05	21.5	24.05	14.27
Net Income to Common	22.96	23.05	21.5	24.05	14.27
Net Income Growth	-0.38%	7.19%	-10.58%	68.54%	-45.92%
Shares Outstanding (Basic)	54	57	56	56	57
Shares Outstanding (Diluted)	54	58	58	58	59
Shares Change (YoY)	-6.34%	0.14%	0.17%	-1.84%	3.68%
EPS (Basic)	0.43	0.40	0.38	0.43	0.25
EPS (Diluted)	0.42	0.40	0.37	0.42	0.24
EPS Growth	5.00%	8.11%	-11.91%	75.00%	-48.94%
Free Cash Flow	17.44	19.22	23.49	8.4	6.84
Free Cash Flow Per Share	0.32	0.33	0.41	0.15	0.12
Gross Margin	65.14%	66.87%	67.84%	69.56%	68.56%
Operating Margin	17.93%	15.32%	14.84%	19.77%	13.31%
Profit Margin	17.01%	15.90%	16.75%	19.15%	13.73%
Free Cash Flow Margin	12.92%	13.26%	18.30%	6.69%	6.59%
EBITDA	27.96	26.25	23.15	29.59	18.33
EBITDA Margin	20.71%	18.11%	18.04%	23.56%	17.64%
D&A For EBITDA	3.76	4.05	4.1	4.76	4.5
EBIT	24.2	22.2	19.05	24.83	13.83
EBIT Margin	17.93%	15.32%	14.84%	19.77%	13.31%
Effective Tax Rate	16.79%	10.43%	5.29%	7.76%	-

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q