Energy Recovery posts record Q4 product revenue of $33.6M, up 27% YoY; FY product revenue $103.9M (+13%)

Energy Recovery, Inc.

2021-FY EPS reported $0.24 revenue$103,904,000

Q4 diluted EPS $0.09 vs $0.06 YoY; FY diluted EPS $0.24 vs $0.47 (prior year included $26.9M license revenue).
FY product gross margin 68.6%; operating expenses fell to 55% of product revenue from prior year.
Signed new $50M credit agreement with JPMorgan Chase to fund growth and emerging market expansion.
Announced first Ultra PX contracts for Chinese lithium-ion battery wastewater treatment and PX G1300 for U.S. supermarket CO2 refrigeration.
Megaproject channel revenue grew 28% in Q4 and 13% for the year; aftermarket up 15% YoY.

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