secwatch.observer — SEC 8-K summary
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Issuer:     Energy Recovery, Inc. (ERII)
CIK:        0001421517
Form:       8-K
Filed at:   2023-05-03T23:59:59+00:00
Accession:  0001421517-23-000081
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1421517/000142151723000081/0001421517-23-000081-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1421517/000142151723000081/erii-20230503.htm
  HTML page:      https://secwatch.observer/filing/0001421517-23-000081

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