Energy Recovery Q3 revenue $38.6M (upper end of $35-39M guide); net income $8.5M, down 12% YoY

Energy Recovery, Inc.

2024-Q3 EPS reported -$0.01 revenue$77,873,000

Revenue of $38.6M, up 4% YoY, at top of $35-39M guidance range.
Gross margin 65.1%, down 480bps due to higher manufacturing and product mix costs.
Net income $8.5M ($0.15/share) vs $9.7M ($0.17) in Q3'23; adjusted EBITDA $11.6M.
Cash and investments $139.9M; operating cash flow ($3.0M) vs $7.7M year ago.
CEO to host Nov 18 webinar detailing five-year strategic plan for desalination, wastewater, CO2 refrigeration.

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