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Energy Recovery Inc (ERII) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

INDUSTRIALS · POLLUTION & TREATMENT CONTROLS · DATA UPDATED 2026-10-04

Energy Recovery Inc (ERII) operates in the POLLUTION & TREATMENT CONTROLS industry and is headquartered in San Leandro, United States with about 230 employees. Its market capitalization is roughly $355 million. In the fiscal year ended 2025-12-31, ERII reported $135M in revenue and $23M in net income.

Energy Recovery, Inc., together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the United States, North, South and Latin America, the Middle East, Northern Africa, Asia, and Europe. It operates through Water and Emerging Technologies segments.

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ERII Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$120M	$135M	$145M	$128M	$126M	$104M	$92M	$73M	$75M	$63M	$55M	$45M	$30M	$43M	$43M	$28M	$46M	$47M	$52M	$35M	$20M
Gross Profit	$79M	$88M	$97M	$87M	$87M	$71M	$64M	$52M	$57M	$44M	$37M	$26M	$17M	$26M	$20M	$8M	$22M	$29M	$33M	$21M	$12M
Gross Margin %	65.4%	65.2%	66.9%	67.8%	69.6%	68.6%	69.3%	72.1%	76.0%	69.8%	67.4%	57.3%	54.9%	59.8%	47.4%	27.8%	48.1%	62.6%	63.7%	58.1%	59.5%
Operating Income (EBIT)	$20M	$25M	$20M	$19M	$25M	$14M	$31M	$10M	$10M	$3M	$0M	($12M)	($18M)	($3M)	($9M)	($25M)	($5M)	$6M	$13M	$9M	$4M
Operating Margin %	16.4%	18.2%	13.6%	14.8%	19.8%	13.3%	34.0%	14.2%	13.4%	5.2%	0.7%	-26.4%	-60.8%	-6.7%	-20.3%	-90.2%	-10.8%	13.1%	24.8%	26.3%	18.1%
Net Income	$15M	$23M	$23M	$22M	$24M	$14M	$26M	$11M	$22M	$12M	$1M	($12M)	($19M)	($3M)	($8M)	($26M)	($4M)	$4M	$9M	$6M	$2M
Net Margin %	12.8%	17.1%	15.9%	16.8%	19.1%	13.7%	28.6%	15.0%	29.6%	19.6%	1.9%	-26.0%	-61.5%	-7.2%	-19.4%	-94.3%	-7.9%	7.8%	16.6%	16.4%	11.9%
EBITDA	$28M	$31M	$28M	$28M	$32M	$20M	$39M	$15M	$15M	$13M	$7M	($8M)	($14M)	$1M	($5M)	($20M)	$0M	$7M	$14M	$10M	$4M
Earnings Per Share (EPS)	$0.28	$0.42	$0.40	$0.37	$0.42	$0.24	$0.47	$0.19	$0.40	$0.22	$0.02	$-0.22	$-0.36	$-0.06	$-0.16	$-0.50	$-0.07	$0.07	$0.18	$0.14	$0.06
Shares Outstanding (M)	51M	54M	58M	58M	58M	59M	57M	56M	55M	56M	55M	52M	52M	51M	51M	53M	52M	53M	47M	41M	40M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ERII Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$12M	$10M	$67M	$32M	$28M	$8M	$67M	$39M
Gross Profit	$9M	$4M	$45M	$21M	$18M	$4M	$47M	$25M
Gross Margin %	74.7%	44.6%	67.3%	64.2%	64.0%	55.3%	70.2%	65.1%
Operating Income (EBIT)	($6M)	($10M)	$32M	$4M	$1M	($13M)	$26M	$7M
Operating Margin %	-49.0%	-103.3%	48.0%	11.4%	5.2%	-155.8%	38.2%	18.3%
Net Income	($3M)	($12M)	$27M	$4M	$2M	($10M)	$23M	$8M
Net Margin %	-26.7%	-126.2%	40.4%	12.1%	7.3%	-122.5%	35.0%	22.0%
EBITDA	($5M)	($13M)	$40M	$6M	$4M	($11M)	$30M	$10M
Earnings Per Share (EPS)	$-0.06	$-0.23	$0.50	$0.07	$0.04	$-0.18	$0.41	$0.15
Shares Outstanding (M)	51M	53M	53M	53M	54M	55M	57M	58M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ERII Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$41M	$19M	$21M	$26M	$13M	$14M	$17M	$5M	$8M	$3M	$5M	$69M	($4M)	$2M	($4M)	($8M)	$2M	$13M	$1M	($3M)	$1M
Capital Expenditures (CapEx)	$3M	$1M	$1M	$3M	$3M	$7M	$7M	$7M	$5M	$7M	$1M	$1M	$3M	$1M	$3M	$2M	$10M	$8M	$1M	$1M	$0M
Free Cash Flow (FCF)	$39M	$17M	$19M	$23M	$10M	$7M	$10M	($2M)	$2M	($4M)	$4M	$68M	($6M)	$1M	($7M)	($10M)	($8M)	$5M	$1M	($4M)	$0M
FCF Margin %	32.1%	13.0%	13.3%	18.3%	7.6%	6.6%	10.9%	-2.9%	3.1%	-7.1%	7.0%	153.2%	-20.6%	2.2%	-17.0%	-36.4%	-17.1%	10.9%	1.3%	-10.6%	2.5%
Dividends Paid	—	—	—	—	—	—	—	—	—	$0M	$0M	$0M	$0M	$4M	$0M	$0M	—	—	—	—	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ERII Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$16M	$21M	$7M	($3M)	$4M	$11M	$9M	($3M)
Capital Expenditures (CapEx)	$1M	$1M	$1M	$0M	$0M	$0M	$0M	$0M
Free Cash Flow (FCF)	$15M	$20M	$6M	($3M)	$4M	$10M	$9M	($3M)
FCF Margin %	128.6%	208.4%	9.6%	-10.8%	14.3%	130.0%	13.2%	-8.2%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ERII Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$198M	$232M	$243M	$253M	$217M	$214M	$204M	$189M	$180M	$162M	$149M	$152M	$86M	$102M	$105M	$111M	$134M	$143M	$121M	$27M	$14M
Cash & Cash Equivalents	$61M	$48M	$30M	$68M	$56M	$74M	$94M	$26M	$22M	$28M	$61M	$100M	$16M	$14M	$17M	$19M	$55M	$59M	$79M	$0M	$0M
Total Liabilities	$25M	$25M	$33M	$33M	$32M	$35M	$33M	$53M	$66M	$79M	$84M	$88M	$16M	$15M	$17M	$14M	$13M	$22M	$14M	$7M	$5M
Total Debt (Short + Long-Term)	$3M	$3M	$2M	$2M	$2M	$2M	$1M	$1M	$13M	$2M	$0M	$0M	$0M	$0M	$0M	$0M	$1M	$1M	$1M	$1M	$1M
Total Shareholders' Equity	$172M	$206M	$210M	$220M	$185M	$179M	$172M	$136M	$113M	$83M	$65M	$64M	$70M	$87M	$87M	$97M	$121M	$121M	$107M	$20M	$8M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive ERII viewer.

Other Companies in POLLUTION & TREATMENT CONTROLS

ZWS · Zurn Elkay Water Solutions Corporation — $7 billion
CECO · CECO Environmental Corp. — $3 billion
PCT · Purecycle Technologies Holdings Corp — $675 million
ADUR · Aduro Clean Technologies Inc. Common Stock — $363 million

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