Energy Recovery, Inc. (ERII)
Nasdaq · Special Industry Machinery, Nec · Manufacturing · CIK 1421517 · fiscal year ends in Dec
Closing price $6.97 on 30 Oct 2026; 52-week range $6.63 to $17.26.
Key figures
The last twelve months reported, with the latest price and balance sheet.
- Revenue, last twelve months
- $120.6M
- Revenue growth
- -15.0%
- Net income, last twelve months
- $15.3M
- Earnings per share
- $0.28
- Gross margin
- 64.0%
- Operating margin
- 11.8%
- Net margin
- 12.7%
- Free cash flow
- $38.6M
- Return on equity
- 8.9%
- Market value
- $356.7M
- Price to earnings
- 24.9x
- Cash
- $61.4M
- Debt
- $0
- Debt to equity
- 0.00
- Shares outstanding
- 51.2M
Financial statements
Revenue, profit and cash flow by fiscal year, each year linked to its annual report.
| Fiscal year | Year end | Revenue | Operating income | Net income | EPS | Free cash flow | Filing |
|---|---|---|---|---|---|---|---|
| FY2025 | 31 Dec 2025 | $135.0M | $23.9M | $23.0M | $0.42 | $17.4M | 10-K filed 25 Feb 2026 |
| FY2024 | 31 Dec 2024 | $144.9M | $19.7M | $23.1M | $0.40 | $19.2M | 10-K filed 26 Feb 2025 |
| FY2023 | 31 Dec 2023 | $128.3M | $19.1M | $21.5M | $0.37 | $23.5M | 10-K filed 21 Feb 2024 |
| FY2022 | 31 Dec 2022 | $125.6M | $24.8M | $24.0M | $0.42 | $8.4M | 10-K filed 22 Feb 2023 |
| FY2021 | 31 Dec 2021 | $103.9M | $13.8M | $14.3M | $0.24 | $6.8M | 10-K filed 24 Feb 2022 |
By quarter
| Quarter | Quarter end | Revenue | Net income | EPS |
|---|---|---|---|---|
| Q2 FY2026 | 30 Jun 2026 | $12.0M | -$3.2M | -$0.06 |
| Q1 FY2026 | 31 Mar 2026 | $9.7M | -$12.3M | -$0.23 |
| Q4 FY2025 | 31 Dec 2025 | $66.9M | $26.9M | $0.50 |
| Q3 FY2025 | 30 Sep 2025 | $32.0M | $3.9M | $0.07 |
| Q2 FY2025 | 30 Jun 2025 | $28.1M | $2.1M | $0.04 |
| Q1 FY2025 | 31 Mar 2025 | $8.1M | -$9.9M | -$0.18 |
| Q4 FY2024 | 31 Dec 2024 | $67.1M | $23.5M | $0.41 |
| Q3 FY2024 | 30 Sep 2024 | $38.6M | $8.5M | $0.15 |
Revenue by segment
As the company reports it in the segment note of its annual report.
By business, FY2025
| Segment | Revenue | Share |
|---|---|---|
| Water | $134.7M | 99.8% |
| Emerging Technologies | $285.0K | 0.2% |
By region, FY2025
| Segment | Revenue | Share |
|---|---|---|
| Middle East | $68.2M | 50.5% |
| Other | $51.8M | 38.4% |
| Africa | $15.0M | 11.1% |
Company events
The newest 8-K filings of 235 held.
| Filed | Form | Event | Items |
|---|---|---|---|
| 5 Aug 2026 | 8-K | Results | 2.02, 9.01 |
| 13 Jul 2026 | 8-K | Leadership change | 5.02, 9.01 |
| 11 Jun 2026 | 8-K/A | Leadership change | 5.02 |
| 8 Jun 2026 | 8-K | Shareholder vote | 5.07 |
| 28 May 2026 | 8-K | Leadership change | 5.02, 9.01 |
| 6 May 2026 | 8-K | Results, Leadership change, Other events | 2.02, 5.02, 8.01, 9.01 |
| 25 Feb 2026 | 8-K | Results, Impairment, Restructuring | 2.02, 2.05, 2.06, 9.01 |
| 5 Nov 2025 | 8-K | Results | 2.02, 9.01 |
| 6 Aug 2025 | 8-K | Other events | 8.01, 9.01 |
| 6 Aug 2025 | 8-K | Results | 2.02, 9.01 |
| 11 Jun 2025 | 8-K | Shareholder vote | 5.07 |
| 7 May 2025 | 8-K | Results | 2.02, 9.01 |
Every filing
The newest filings with the SEC of 398 held.
| Filed | Form | Period |
|---|---|---|
| 17 Aug 2026 | S-8 | – |
| 5 Aug 2026 | 10-Q | 30 Jun 2026 |
| 5 Aug 2026 | 8-K | 5 Aug 2026 |
| 13 Jul 2026 | 8-K | 13 Jul 2026 |
| 11 Jun 2026 | 8-K/A | 5 Jun 2026 |
| 8 Jun 2026 | 8-K | 4 Jun 2026 |
| 28 May 2026 | 8-K | 28 May 2026 |
| 26 May 2026 | SD | – |
| 6 May 2026 | 10-Q | 31 Mar 2026 |
| 6 May 2026 | 8-K | 6 May 2026 |
| 21 Apr 2026 | DEF 14A | 31 Dec 2025 |
| 25 Feb 2026 | 10-K | 31 Dec 2025 |
Insider trades
Form 4 trades by officers, directors and 10% owners, last 12 months.
| Traded | Insider | Type | Shares | Price | Value | Held after | Form 4 |
|---|---|---|---|---|---|---|---|
| 28 Jul 2026 | Clemente Rodney, SVP, Water | Sale outside a trading plan | 5,387 | $8.56 | $46.1K | 108,301 | 29 Jul 2026 |
| 28 Jul 2026 | Yeung William, Chief Legal Officer | Sale outside a trading plan | 2,048 | $8.56 | $17.5K | 99,291 | 29 Jul 2026 |
| 15 Jun 2026 | Sabol Colin R, Director | Purchase | 11,180 | $8.88 | $99.3K | 55,671 | 17 Jun 2026 |
| 15 Jun 2026 | Buehler Alexander J, Interim President and CEO | Sale outside a trading plan | 14,900 | $8.71 | $129.8K | 66,755 | 17 Jun 2026 |
| 13 May 2026 | Tondreau Pamela L., Director | Purchase | 20,000 | $8.34 | $166.8K | 37,362 | 15 May 2026 |
| 6 Apr 2026 | Hanstveit Arve, Director | Sale outside a trading plan | 2,419 | $10.29 | $24.9K | 382,509 | 8 Apr 2026 |
| 2 Apr 2026 | Hanstveit Arve, Director | Sale outside a trading plan | 165,292 | $10.14 | $1.7M | 384,928 | 6 Apr 2026 |
| 10 Mar 2026 | Hanstveit Arve, Director | Sale outside a trading plan | 25,000 | $10.96 | $274.0K | 550,220 | 11 Mar 2026 |
| 6 Mar 2026 | Hanstveit Arve, Director | Sale outside a trading plan | 11,582 | $10.62 | $122.9K | 575,220 | 9 Mar 2026 |
| 5 Mar 2026 | Hanstveit Arve, Director | Sale outside a trading plan | 38,418 | $10.71 | $411.5K | 586,802 | 9 Mar 2026 |
| 5 Mar 2026 | Ramanan Natarajan, Chief Technology Officer | Sale outside a trading plan | 272 | $10.57 | $2.9K | 52,565 | 6 Mar 2026 |
| 4 Mar 2026 | Clemente Rodney, SVP, Water | Sale under a trading plan | 20,568 | $10.61 | $218.3K | 116,008 | 6 Mar 2026 |
Planned insider sales
Form 144 notices, filed when the sell order goes to the broker.
| Filed | Seller | Shares | Value | Planned sale |
|---|---|---|---|---|
| 28 Jul 2026 | Yeung William, Officer | 2,048 | $17.5K | 28 Jul 2026 |
| 28 Jul 2026 | Clemente Rodney, Officer | 5,387 | $46.1K | 28 Jul 2026 |
| 15 Jun 2026 | BUEHLER ALEXANDER J, Officer, Director | 14,900 | $131.6K | 15 Jun 2026 |
| 10 Mar 2026 | Hanstveit Arve, Director | 25,000 | $273.7K | 10 Mar 2026 |
| 6 Mar 2026 | Hanstveit Arve, Director | 11,582 | $122.8K | 6 Mar 2026 |
| 5 Mar 2026 | Ramanan Natarajan, Officer | 272 | $2.9K | 5 Mar 2026 |
| 4 Mar 2026 | Clemente Rodney, Officer | 20,568 | $213.9K | 4 Mar 2026 |
| 6 Feb 2026 | Yeung William, Officer | 646 | $9.8K | 6 Feb 2026 |
| 2 Feb 2026 | Yeung William, Officer | 729 | $10.5K | 2 Feb 2026 |
| 28 Jan 2026 | Yeung William, Officer | 7,271 | $105.8K | 28 Jan 2026 |
Large holders
Schedule 13D and 13G filings by holders of more than 5% of the voting shares.
| Filed | Holder | Schedule | Stake | Shares |
|---|---|---|---|---|
| 26 Oct 2026 | AMUNDI | 13G amended | 7.03% | 3.6M |
| 14 Aug 2026 | Ameriprise Financial, Inc. | 13G amended | 1.3% | 679.2K |
| 22 Jul 2026 | AMUNDI | 13G amended | 7.77% | 4.0M |
| 10 Apr 2026 | AMUNDI | 13G amended | 7.14% | 3.8M |
| 8 Apr 2026 | Ameriprise Financial, Inc. | 13G amended | 10% | 5.3M |
| 26 Mar 2026 | The Vanguard Group | 13G amended | 0% | 0 |
| 24 Feb 2026 | AMUNDI | 13G amended | 5.38% | 2.9M |
| 17 Feb 2026 | Ameriprise Financial, Inc. | 13G amended | 8.6% | 4.6M |
| 17 Feb 2026 | AMUNDI | 13G | 5.38% | 2.9M |
Short interest
Shares sold short and not yet bought back, on each FINRA settlement date.
| Settlement | Shares short | Change | Days to cover |
|---|---|---|---|
| 15 Oct 2026 | 3.2M | -3.61% | 4.28 |
| 30 Sep 2026 | 3.3M | -3.19% | 3.7 |
| 15 Sep 2026 | 3.4M | +1.96% | 3.21 |
| 31 Aug 2026 | 3.4M | -2.25% | 3.33 |
| 14 Aug 2026 | 3.4M | +24.1% | 3.21 |
| 31 Jul 2026 | 2.8M | +2.28% | 3.56 |
| 15 Jul 2026 | 2.7M | +5.75% | 4.01 |
| 30 Jun 2026 | 2.6M | +12.37% | 1.78 |
Funds that hold it
From each fund's latest Form 13F.
237 funds held it at 30 Jun 2026: 118 added and 45 trimmed in the quarter. The largest:
| Fund | Shares | Value | Change in the quarter |
|---|---|---|---|
| BlackRock, Inc. | 6,344,252 | $57.2M | +253,326 |
| Amundi | 4,003,535 | $36.1M | +263,226 |
| Vanguard Capital Management LLC | 2,183,718 | $19.7M | -46,552 |
| Legal & General Group Plc | 2,059,764 | $18.6M | +157,239 |
| FIL Ltd | 1,715,722 | $15.5M | -272,197 |
| Geode Capital Management, LLC | 1,697,550 | $15.3M | +402,442 |
| State Street Corp. | 1,625,893 | $14.7M | -147,055 |
| Vanguard Portfolio Management LLC | 1,263,667 | $11.4M | +2,006 |
| Morgan Stanley | 1,237,003 | $11.2M | +444,312 |
| Mackenzie Financial Corp. | 1,187,686 | $10.7M | +1,187,686 |
Peers
Companies in the same industry.
- ASML Holding N.V. (ASML): revenue $36.9B, market value $603.4B
- Lam Research Corp. (LRCX): revenue $26.1B, market value $298.7B
- ACM Research, Inc. (ACMR): revenue $1.0B, market value $3.3B
- Axcelis Technologies Inc. (ACLS): revenue $866.1M, market value $3.1B
- Veeco Instruments Inc. (VECO): revenue $682.7M, market value $2.4B
- Azenta, Inc. (AZTA): revenue $613.8M, market value $1.7B
- Cricut, Inc. (CRCT): revenue $689.8M, market value $1.3B
- Amtech Systems Inc. (ASYS): revenue $81.7M, market value $223.8M
- Sono TEK Corp. (SOTK): revenue $21.5M, market value $75.9M