Energy Recovery Q1 revenue falls 33% to $8.1M; net loss widens to $9.9M

Energy Recovery, Inc.

2025-Q1 EPS reported -$0.18 revenue$8,065,000

Revenue $8.1M, down 33% YoY from $12.1M, driven by timing of contracted projects.
Gross margin 55.3%, down 370 bps from 59.0% due to lower revenue spread over fixed costs.
Net loss $9.9M ($0.18 per share) vs. $8.3M loss in Q1'24; operating loss $12.6M.
Adjusted EBITDA loss $8.7M; cash and investments $106.7M.
Operating expenses down 5.8% to $17.0M; includes $0.5M restructuring and $0.4M impairment.

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