---
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"
generated_at: "2026-06-16T00:47:19.696483+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Energy Recovery Q1 revenue $13.4M (-59% YoY); net loss $6.3M vs profit $7.9M

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001421517-23-000081
- JSON: https://secwatch.observer/filing/0001421517-23-000081.json
- Plain text: https://secwatch.observer/filing/0001421517-23-000081.txt

## Key facts
- Earnings Releases
  Energy Recovery, Inc. reported first quarter ended March 31, 2023 results: revenue $13.4 million, net income ($6.3) million, EPS ($0.11).
  - Period: first quarter ended March 31, 2023
  - Revenue: $13.4 million
  - Net income: ($6.3) million
  - EPS: ($0.11)
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1421517/000142151723000081/0001421517-23-000081-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.