Energy Recovery Q2 rev $20.7M, net loss $1.7M; reaffirms FY2023 guidance

Energy Recovery, Inc.

2023-Q2 EPS reported -$0.14 revenue$34,124,000

Revenue $20.7M (up 2% YoY) within lower end of guidance; $5.7M megaproject shipment delayed to Q3.
Gross margin 65.4% at upper end of 64%-66% guidance range.
Loss from operations $2.6M; net loss $1.7M ($0.03 loss per share).
Adjusted EBITDA $0.2M; cash and investments $97.5M.
Company affirms full-year 2023 revenue guidance; desalination and wastewater on track.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Energy Recovery, Inc. reported second quarter and six months ended June 30, 2023 results: revenue $20.7 million, net income ($1.7 million), EPS ($0.03). Guidance reaffirmed.

Period: second quarter and six months ended June 30, 2023
Revenue: $20.7 million
Net income: ($1.7 million)
EPS: ($0.03)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

(“Energy Recovery” or the “Company”) today announced its financial results for the second quarter and six months ended June 30, 2023. Second Quarter Highlights • Revenue of $20.7 million, within the lower end of guidance. Revenue was lower due to a timing delay of a $5.7 million megaproject shipment that will subsequently be recognized in the third quarter. •

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Energy Recovery, Inc. filing history →

Source: SEC EDGAR

accession 0001421517-23-000147

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