Energy Recovery Q2 revenue $20.3M, net loss $2.4M; reaffirms FY revenue $130M

Energy Recovery, Inc.

2022-Q2 EPS reported $0.10 revenue$52,838,000

Revenue $20.3M, down 2% YoY; net loss per share $0.04 vs. income $0.02 in Q2 2021.
Adjusted EBITDA $1.0M, down 64% YoY; operating loss $2.9M includes $1.3M VorTeq cessation expenses.
Full year revenue guidance reaffirmed at $130M (25% YoY growth); gross margin expectations unchanged.
First PX G1300 commissioned for CO2 refrigeration in southern Europe; second JDA signed with U.S. rack manufacturer.
Share repurchases of $18.6M (1.0M shares) completed July 1; cash & investments $86.5M.

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