Energy Recovery reports Q2 net income of $2.1M; revenue up 3% YoY to $28.1M

Energy Recovery, Inc.

2025-Q2 EPS reported -$0.14 revenue$36,116,000

Q2 revenue $28.1M (+3% YoY); net income $2.1M vs loss $0.6M in Q2 2024; EPS $0.04.
Gross margin 64.0% (down 60 bps); operating income $1.5M (+173% YoY) driven by higher revenue and lower opex.
Adjusted EBITDA $4.4M; adjusted EPS $0.07 (down from $0.09 YoY); management says results in-line with internal expectations.
Cash & investments $93.7M; six-month net loss $7.8M improved from $8.9M loss.
Operating expenses down 15.8% YoY due to lower employee and consulting costs.

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