Energy Recovery reports Q1 2024 revenue of $12.1M, net loss of $8.3M, reaffirms full-year guidance

Energy Recovery, Inc.

2024-Q1 EPS reported -$0.14 revenue$12,090,000

Revenue of $12.1 million in line with February 2024 guidance of $10-13 million.
Gross margin 59.0%, down 190 bps from Q1 2023 due to higher manufacturing costs and inventory scrap.
Net loss of $8.3 million compared to $6.3 million loss in Q1 2023; adjusted EBITDA loss of $6.2 million.
Signed contracts with potential revenue equal to 60% of 2024 guidance midpoint, up 26% over same period in 2023.
CO2 business completed a 30-day field test of next-generation PX G1300 in Europe and testing with partner Vallarta in California.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Energy Recovery, Inc. reported financial results for first quarter ended March 31, 2024.

Period: first quarter ended March 31, 2024
Result: reported results

Exact text from the filing

On May 1, 2024, Energy Recovery, Inc. (the “Company”) issued an earnings press release announcing its financial results for the first quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0001421517-24-000092

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