Energy Recovery Q2 revenue down 57% to $12M; net loss of $3.2M vs prior-year profit

Energy Recovery, Inc.

Revenue $12.0M, down 57% YoY from $28.1M; company cites war in Iran as primary cause.
Net loss of $3.2M ($0.06 diluted loss) vs net income of $2.1M ($0.04 EPS) in Q2 2025.
Gross margin improved to 74.7% from 64.0% due to channel mix and lower indirect costs.
Loss from operations of $5.9M, down from income from operations of $1.5M in Q2 2025.
Cash and investments $98.1M; adjusted EBITDA loss of $2.6M vs positive $4.4M a year ago.

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