Energy Recovery Q4 revenue $67.1M (+17% YoY); net income $23.5M; margin expands

Energy Recovery, Inc.

2024-FY EPS reported $0.40 revenue$144,948,000

Q4 2024 revenue of $67.1M, up 17% YoY; full-year revenue $144.9M at midpoint of guidance.
GAAP net income $23.5M ($0.41 per share); adjusted net income $28.3M ($0.50 per share).
Gross margin improved to 70.2% (+110 bps YoY) due to manufacturing transformation benefits.
Operating expenses $21.5M, including $2.5M restructuring costs from workforce reduction and exec transition.
Cash and investments $99.9M; management to provide 2025 outlook in shareholder letter.

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