{"schema_version":"secwatch.filing_event.v1","accession":"0001421517-23-000081","form_type":"8-K","ticker":"ERII","cik":"0001421517","company_name":"Energy Recovery, Inc.","filed_at":"2023-05-03T23:59:59+00:00","discovered_at":"2026-05-14T18:03:38.797750+00:00","generated_at":"2026-06-16T00:47:19.696483+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Energy Recovery Q1 revenue $13.4M (-59% YoY); net loss $6.3M vs profit $7.9M","bullets":["Revenue $13.4M (-59% YoY); gross margin 60.9% vs 70.8% (down 990 bps).","Operating loss $8.1M (margin -60.5%) vs prior-year income $8.2M; net loss $6.3M ($0.11 EPS) vs net income $7.9M ($0.14 EPS).","Adjusted EBITDA negative $4.8M vs positive $11.1M; operating cash flow $8.7M vs ($1.6M).","Desalination full-year growth guided 3-7%, revenue weighted to H2; CO2 refrigeration revenue >$100k in Q1."],"urls":{"canonical":"https://secwatch.observer/filing/0001421517-23-000081","json":"https://secwatch.observer/filing/0001421517-23-000081.json","markdown":"https://secwatch.observer/filing/0001421517-23-000081.md","text":"https://secwatch.observer/filing/0001421517-23-000081.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1421517/000142151723000081/0001421517-23-000081-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1421517/000142151723000081/erii-20230503.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-16T00:47:19.696483+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"97b37917d2556fc1477f43eac65a44ce99ee6af5","claim":"Energy Recovery, Inc. reported first quarter ended March 31, 2023 results: revenue $13.4 million, net income ($6.3) million, EPS ($0.11).","evidence_excerpt":"Energy Recovery Reports First Quarter 2023 Financial Results SAN LEANDRO, Calif. - May 3, 2023 - Energy Recovery, Inc. (Nasdaq:ERII) (“Energy Recovery” or the “Company”) today announced its financial results for the first quarter ended March 31, 2023. First Quarter Highlights • Revenue of $13.4 million, and within February 2023 guidance. • Lower gross margin of 60.9%, as compared to Q1’2022, driven mainly by an increase in pump and hydraulic turbocharger revenue in the original equipment manufacturer and aftermarket channels, and a decrease PX ® Pressure Exchanger ® revenue in the megaproject channel. • Operating expenses grew 6% in the first quarter, as compared to Q4’2022, from growing sales and marketing expenditures in support of new businesses, and some variability in the timing of research and development expenses. • Loss from operations of $8.1 million primarily attributable to lower revenue and gross margin due to expected timing of megaproject shipments. • Net loss of $6.3 mil","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1421517/000142151723000081/0001421517-23-000081-index.htm","confidence":0.98,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter ended March 31, 2023"},{"label":"Revenue","value":"$13.4 million"},{"label":"Net income","value":"($6.3) million"},{"label":"EPS","value":"($0.11)"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}