Revenue Performance - Revenue for Q3 2024 was $38,584,000, an increase from $37,036,000 in Q3 2023, representing a growth of approximately 4.2%[14] - Total revenue for the three months ended September 30, 2024, was $38,344,000, an increase from $36,812,000 in the same period last year, representing a growth of 4.1%[28] - Revenue for the three months ended September 30, 2024, was $38,584 thousand, a 4% increase from $37,036 thousand in the same period of 2023[71] - For the nine months ended September 30, 2024, total revenue was $224,351 thousand, a 9% increase from $205,622 thousand in the same period of 2023[70] - Revenue from the Middle East and Africa for the three months ended September 30, 2024, was $28,043,000, compared to $24,543,000 in the same period last year, reflecting a growth of 14.1%[29] - Revenue from the Water segment for the three months ended September 30, 2024, was $38,344,000, while Emerging Technologies contributed $240,000[58] - Megaproject channel revenue increased by 8% to $29,009 thousand, accounting for 75% of total revenue for the three months ended September 30, 2024[67] - Aftermarket channel revenue grew by 14% to $13,739 thousand, while Original Equipment Manufacturer (OEM) channel revenue decreased by 7% to $4,919 thousand[68] Profitability Metrics - Gross profit for Q3 2024 was $25,112,000, compared to $25,882,000 in Q3 2023, indicating a decrease of about 3%[14] - Gross profit for the three months ended September 30, 2024, was $25,112 thousand, with a gross margin of 65.1%, down from 69.9% in the prior year[76] - The company reported a net income of $8,481,000 for the three months ended September 30, 2024, compared to $9,660,000 in the same period last year, indicating a decrease of 12.2%[36] - Basic net income per share for the three months ended September 30, 2024, was $0.15, down from $0.17 in the same period last year, a decline of 11.8%[37] - Operating income for the nine months ended September 30, 2024, was $18,052,000, compared to a loss of $5,891,000 for the same period in 2023[58] Expenses and Liabilities - Operating expenses for Q3 2024 were $18,055,000, up from $16,749,000 in Q3 2023, indicating an increase of approximately 7.8%[14] - Total operating expenses for the three months ended September 30, 2024, were $18,055 thousand, an increase of 7.8% compared to $16,749 thousand in the same period of 2023[78] - Total operating expenses for the nine months ended September 30, 2024, were $55,704,000, compared to $49,144,000 for the same period in 2023[58] - Total liabilities decreased to $28,832,000 from $33,166,000, a reduction of about 13.0%[13] - Total accrued expenses and other liabilities decreased from $15.8 million on December 31, 2023, to $10.6 million on September 30, 2024, representing a reduction of approximately 32.5%[43] Cash and Investments - Cash and cash equivalents decreased to $63,261,000 from $68,098,000, a decline of approximately 7.5%[12] - Cash, cash equivalents, and restricted cash at the end of the period were $63,393 million, an increase from $51,566 million at the end of Q3 2023[18] - The investment portfolio was valued at $808.1 million, primarily in investment-grade marketable debt instruments, as of September 30, 2024[101] - The total fair value of short and long-term investments was $76.7 million as of September 30, 2024, with gross unrealized losses of $324,000[47] - The company reported total available-for-sale investments with unrealized loss positions of $8.1 million as of September 30, 2024, compared to $31.2 million on December 31, 2023[49] Equity and Stock Performance - Total stockholders' equity increased to $233.873 million in Q3 2024, up from $194.029 million in Q3 2023, representing a growth of 20.5%[17] - The company issued 459,312 shares of common stock in Q3 2024, compared to 99,091 shares in Q3 2023, marking a significant increase in equity financing[17] - The beginning balance of retained earnings was $73.754 million, with an ending balance of $82.235 million, reflecting an increase of 11.9%[17] - Stock-based compensation for the nine months ended September 30, 2024, was $8.512 million, up from $5.811 million in the same period of 2023, indicating a rise of 46.5%[18] Future Outlook and Strategic Focus - The company expects sales outside the U.S. to remain a significant portion of its revenue in the future[7] - The company believes that leveraging its pressure exchanger technology will unlock new commercial opportunities moving forward[7] - The company is focused on developing high-performance solutions aimed at improving energy efficiency and reducing emissions across various industrial processes[19] - The company is committed to developing new technologies and expanding into emerging markets, particularly in wastewater filtration and energy recovery applications[63] Tax and Legal Matters - The effective tax rate for the three months ended September 30, 2024, was 3.9%, compared to 5.1% for the same period in 2023[56] - The company recorded no material losses from litigation that would have a material effect on its financial position as of September 30, 2024[55] - The company is not currently involved in any legal proceedings that are likely to have a material adverse effect on its financial condition or operating results[105]

Exhibit 99.1 Energy Recovery Reports its Third Quarter 2024 Financial Results SAN LEANDRO, Calif. - October 30, 2024 – Energy Recovery, Inc. (Nasdaq:ERII) ("Energy Recovery" or the "Company") today announced its financial results for the third quarter and nine months ended September 30, 2024. Third Quarter Highlights • Revenue of $38.6 million, reaching the upper end of our guidance of $35 - $39 million. • Gross margin of 65.1%, a decrease of 480 bps, as compared to Q3'2023, due primarily to higher manufact ...

Energy Recovery, Inc. (NASDAQ:ERII) Q2 2024 Earnings Conference Call July 31, 2024 5:00 PM ET Company Participants James Siccardi - VP, Investor Relations David Moon - President & CEO Conference Call Participants Pavel Molchanov - Raymond James Ryan Pfingst - B. Riley Securities Jason Bandel - Evercore ISI Operator Greetings, and welcome to the Energy Recovery 2Q '24 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to your ...

Energy Recovery (ERII) came out with quarterly earnings of $0.09 per share, beating the Zacks Consensus Estimate of a loss of $0.02 per share. This compares to break-even earnings per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 550%. A quarter ago, it was expected that this maker of energy recovery devices would post a loss of $0.11 per share when it actually produced a loss of $0.08, delivering a surprise of 27.27%. Over the ...

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Exhibit 99.1 Energy Recovery Reports its Second Quarter 2024 Financial Results SAN LEANDRO, Calif. - July 31, 2024 – Energy Recovery, Inc. (Nasdaq:ERII) ("Energy Recovery" or the "Company") today announced its financial results for the second quarter and six months ended June 30, 2024. Second Quarter Highlights • Revenue of $27.2 million, exceeding the upper end of our guidance of $20 - $25 million. • Gross margin of 64.6%, a decrease of 80 bps, as compared to Q2'2023, due primarily to higher manufacturing ...

Energy Recovery, Inc. (NASDAQ:ERII) Q1 2024 Earnings Conference Call May 1, 2024 5:00 PM ET Company Participants James Siccardi - Vice President of Investor Relations David Moon - President & Chief Executive Officer Joshua Ballard - Chief Financial Officer Conference Call Participants Pavel Molchanov - Raymond James Ryan Pfingst - B. Riley Securities Operator Greetings and welcome to the Energy Recovery First Quarter 2024 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorde ...

Energy Recovery (ERII) came out with a quarterly loss of $0.08 per share versus the Zacks Consensus Estimate of a loss of $0.11. This compares to loss of $0.08 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 27.27%. A quarter ago, it was expected that this maker of energy recovery devices would post earnings of $0.40 per share when it actually produced earnings of $0.39, delivering a surprise of -2.50%.Over the last four quart ...

WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 193 For the quarterly period endMedarch 31, 2024 OR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Energy Recovery, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 01-0616867 (State or Other Jurisdiction of Incorporation) (I.R.S. Employer Identification No.) 1717 Doolittle Dri,vSan Leandr e ,oCalifornia94577 (Address of Principal Executive Of ices) (Zip Code ...

Exhibit 99.1 Energy Recovery Reports its First Quarter 2024 Financial Results SAN LEANDRO, Calif. - May 1, 2024 – Energy Recovery, Inc. (Nasdaq:ERII) ("Energy Recovery" or the "Company") today announced its financial results for the first quarter ended March 31, 2024. First Quarter Highlights David Moon, President and CEO, commented on the financial results: "The first quarter was a busy one for us and played out as we expected. Q1 revenue of $12.1 million was in line with our guidance of $10-$13 million, a ...