Energy Recovery, Inc.
Financial highlights
| Metric | FY December 31, 2025 | FY December 31, 2024 | FY December 31, 2023 | FY December 31, 2022 | FY December 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $135.0M | $144.9M | $128.3M | $125.6M | $103.9M |
| Gross profit | $87.9M | $96.9M | $87.1M | $87.4M | $71.2M |
| Operating income | $23.9M | $19.7M | $19.1M | $24.8M | $13.8M |
| Operating expenses | $64.0M | $77.2M | $68.0M | $62.5M | $57.4M |
| Cost of revenue | $47.1M | $48.0M | $41.3M | $38.2M | $32.7M |
| Cash from operations | $18.8M | $20.5M | $26.1M | $12.6M | $13.5M |
| Capital expenditure | $1.3M | $1.3M | $2.6M | $4.2M | $6.7M |
| Free cash flow | $17.4M | $19.2M | $23.5M | $8.4M | $6.8M |
| Share repurchases | $35.6M | $50.4M | $0 | $26.7M | $23.3M |
| Impairments | $0 | $0 | $0 | $0 | $0 |
| Total assets | $231.5M | $242.8M | $253.0M | $217.0M | $213.7M |
| Total liabilities | $25.3M | $32.8M | $33.2M | $31.7M | $34.9M |
Shares outstanding 51.5M · Free float 83.7%
Annual filing data through FY ended December 31, 2025; float as of July 13, 2026.