Energy Recovery Inc
For the period ended Mar 31, 2024. Filed May 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 1, 2024
ERII$7.33-0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| (In thousands) | ||
| Cash flows from operating activities: | ||
| Net loss | $(8,260) | $(6,296) |
| Adjustments to reconcile net loss to cash provided by operating activities | ||
| Stock-based compensation | 3,283 | 2,302 |
| Depreciation and amortization | 1,029 | 983 |
| Right of use asset amortization | 431 | 402 |
| Accretion (amortization) of discounts (premiums) on investments | (231) | (89) |
| Deferred income taxes | (1,328) | (1,152) |
| Other non-cash adjustments | 116 | 93 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | 21,882 | 22,509 |
| Contract assets | — | 593 |
| Inventories, net | (5,723) | (4,855) |
| Prepaid and other assets | (545) | 187 |
| Accounts payable | 1,140 | 920 |
| Accrued expenses and other liabilities | (7,589) | (7,156) |
| Contract liabilities | 2,292 | 216 |
| Net cash provided by operating activities | 6,497 | 8,657 |
| Cash flows from investing activities: | ||
| Maturities of marketable securities | 16,534 | 15,250 |
| Purchases of marketable securities | (20,783) | (13,886) |
| Capital expenditures | (824) | (279) |
| Proceeds from sales of fixed assets | 87 | 82 |
| Net cash (used in) provided by investing activities | (4,986) | 1,167 |
| Cash flows from financing activities: | ||
| Net proceeds from issuance of common stock | 1,190 | 165 |
| Net cash provided by financing activities | 1,190 | 165 |
| Effect of exchange rate differences on cash and cash equivalents | (19) | 8 |
| Net change in cash, cash equivalents and restricted cash | 2,682 | 9,997 |
| Cash, cash equivalents and restricted cash, beginning of year | 68,225 | 56,458 |
| Cash, cash equivalents and restricted cash, end of period | $70,907 | $66,455 |
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