secwatch.observer — SEC 8-K summary
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Issuer:     Energy Recovery, Inc. (ERII)
CIK:        0001421517
Form:       8-K
Filed at:   2022-02-24T23:59:59+00:00
Accession:  0001421517-22-000036
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1421517/000142151722000036/0001421517-22-000036-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1421517/000142151722000036/erii-20220224.htm
  HTML page:      https://secwatch.observer/filing/0001421517-22-000036

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