secwatch.observer — SEC 8-K summary
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Issuer:     Energy Recovery, Inc. (ERII)
CIK:        0001421517
Form:       8-K
Filed at:   2021-08-05T23:59:59+00:00
Accession:  0001421517-21-000107
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Energy Recovery Q2 product revenue up 7% to $20.6M; net income $1.1M vs $16.9M year-ago on VorTeq termination
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- Product revenue $20.6M (+7% YoY); total revenue $20.6M (-53%) due to prior-year VorTeq license termination.
- Net income $1.1M ($0.02 diluted EPS) vs $16.9M ($0.30) which included $17.2M VorTeq-related gain.
- Product gross margin 65.1% vs 66.0% YoY; operating cash flow $11.5M.
- Cash and investments $120.7M, up 25% YoY; $12M in share buybacks during H1 2021.
- Desalination growth driven by megaproject and OEM channels; testing PX G1300 for CO2 refrigeration.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1421517/000142151721000107/0001421517-21-000107-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1421517/000142151721000107/erii-20210805.htm
  HTML page:      https://secwatch.observer/filing/0001421517-21-000107

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer