Energy Recovery, Inc.
For the period ended Dec 31, 2025. Filed Feb 25, 2026.
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FY2025 · Filed Feb 25, 2026
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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Consolidated Statements of Operations
| Years Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| (In thousands, except per share data) | |||
| Revenue | $134,987 | $144,948 | $128,349 |
| Cost of revenue | 47,056 | 48,015 | 41,270 |
| Gross profit | 87,931 | 96,933 | 87,079 |
| Operating expenses: | |||
| General and administrative | 29,769 | 33,074 | 28,864 |
| Sales and marketing | 20,926 | 25,423 | 22,164 |
| Research and development | 13,034 | 16,236 | 17,001 |
| Restructuring charges | 313 | 2,476 | — |
| Total operating expenses | 64,042 | 77,209 | 68,029 |
| Income from operations | 23,889 | 19,724 | 19,050 |
| Other income (expense): | |||
| Interest income | 3,614 | 6,218 | 3,756 |
| Other non-operating income (expense), net | 92 | (207) | (101) |
| Total other income, net | 3,706 | 6,011 | 3,655 |
| Income before income taxes | 27,595 | 25,735 | 22,705 |
| Provision for income taxes | 4,633 | 2,685 | 1,201 |
| Net income | $22,962 | $23,050 | $21,504 |
| Net income per share: | |||
| Basic | $ 0.43 | $ 0.40 | $ 0.38 |
| Diluted | $ 0.42 | $ 0.40 | $ 0.37 |
| Number of shares used in per share calculations: | |||
| Basic | 53,802 | 57,213 | 56,444 |
| Diluted | 54,158 | 57,822 | 57,740 |
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