Energy Recovery Inc
NASDAQ:ERII

  • LAST PRICE
    13.5800
  • TODAY'S CHANGE (%)
    0.0000 (0.0000%)
  • Bid / Lots
    13.0000/ 2
  • Ask / Lots
    16.0000/ 2
  • Open / Previous Close
    0.0000 / 13.5800
  • Day Range
    ---
  • 52 Week Range
    12.4500
    30.7600
  • Volume
    8

Search Criteria

Click on magnifying glass icon to search

CompanyCountrySymbol

TD Direct Investing offers more research reports than any other discount brokerage in Canada. Provided from the industry's most trusted sources, our service includes timely, relevant information for the current trading day and comprehensive industry, sector, and insider trading reports for further analysis.

Open a New Account, or Login if you're a client.

  • May 9, 2024

  • May 1, 2024

      Show headlines and story abstract

    • 4:04PM ET on Wednesday May 01, 2024 by MT Newswires
      Companies Mentioned: ERII
      04:04 PM EDT, 05/01/2024 (MT Newswires) -- ...

    • 4:00PM ET on Wednesday May 01, 2024 by Business Wire
      Companies Mentioned: ERII

      Energy Recovery, Inc. (Nasdaq:ERII) ("Energy Recovery" or the "Company") today announced its financial results for the first quarter ended March 31, 2024.

      First Quarter Highlights

      Revenue of $12.1 million, which is in-line with our February 2024 guidance. Gross margin of 59.0%, a decrease of 190 bps, as compared to Q1'2023, due primarily to higher manufacturing costs and an increase in inventory scrap. Operating expenses of $18.1 million, an increase of 11%, as compared to Q1'2023, due primarily to increased investments within sales and marketing and Executive transition costs. Loss from operations of $10.9 million, mainly due to lower revenues and gross margin as previously guided. Net loss of $8.3 million and adjusted EBITDA(1) loss of $6.2 million. Cash and investments of $129.5 million, which include cash, cash equivalents, and short- and long-term investments.

    • 4:00PM ET on Wednesday May 01, 2024 by Dow Jones
      Companies Mentioned: ERII
      administrative 1,922 1,018 4,626 7,566 1,938 968 4,160 7,066 Sales and marketing 3,745 1,807 600 6,152 3,175 1,170 549 4,894 Research and development 1,100 3,251 -- 4,351 1,180 3,126 -- 4,306 ------ ------- --- ------ ------- ------ ------- --- ------ ------ Total operating expenses 6,767 6,076 5,226 18,069 6,293 5,264 4,709 16,266 ------ ------- --- ------ ------- ------ ------- --- ------ ------ Operating income (loss) $ 368 $ (6,076) $ (5,226) $(10,934) $ 1,902 $ (5,304) $ (4,709) $(8,111) ====== ======= ====== ======= ====== ======= ====== ====== Share-based Compensation Three Months Ended March 31, ---------------------------------- 2024 2023 --- ------------ ----------- (In thousands) Stock-based compensation expense charged to: Cost of revenue $ 343 $ 249 General and administrative 1,407 960 Sales and marketing 1,010 698 Research and development 523 397 --- ------------ ----------- Total stock-based compensation expense $ 3,283 $ 2,304 === ============ =========== ENERGY RECOVERY, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (1) (Unaudited) This press release includes certain non-GAAP financial information because we plan and manage our business using such information. The following table reconciles the GAAP financial information to the non-GAAP financial information. Year-to-Date ---------------------------------------------------------- Q1'2024 Q1'2023 ------------------------------ -------------------------- (In millions, except shares, per share and percentages) Operating margin (90.4%) (60.5%) Share-based compensation 27.2 17.2 Executive transition costs 3.9 -- ------ -------------- ------ --------------- ----- Adjusted operating margin (59.4%) (43.3%) ------ -------------- ---- --------------- --- Net loss $ (8.3) $ (6.3) Share-based compensation (2) 3.3 2.3 Executive transition costs (2) 0.4 -- Share-based compensation discrete tax item (0.1) (0.5) ------ -------------- ----- --------------- ---- Adjusted net loss $ (4.6) $ (4.5) ------ -------------- ----- --------------- ---- Net loss per share $ (0.14) $ (0.11) Adjustments to net loss per share (3) 0.06 0.03 ------ -------------- ------ --------------- ----- Adjusted net loss per share $ (0.08) $ (0.08) ------ -------------- ----- --------------- ---- Effective tax rate 13.5% 15.5% Adjustments to effective tax rate (3) 6.4 (2.5) ------ -------------- ------ --------------- ---- Adjusted effective tax rate 19.8% 13.0% ------ -------------- ----- --------------- ---- Net loss $ (8.3) $ (6.3) Share-based compensation 3.3 2.3 Depreciation and amortization 1.0 1.0 Executive transition costs 0.5 -- Other income, net (1.4) (0.7) Benefit from income taxes (1.3) (1.2) ------ -------------- ----- --------------- ---- Adjusted EBITDA $ (6.2) $ (4.8) ------ -------------- ----- --------------- ---- Free cash flow Net cash provided by operating activities $ 6.5 $ 8.7 Capital expenditures (0.8) (0.3) ------ -------------- ----- --------------- ---- Free cash flow $ 5.7 $ 8.4 ------ -------------- ------ --------------- ----- _______________________ (1) Amounts may not total due to rounding. (2) Amounts presented are net of tax. (3) Refer to the sections "Use of Non-GAAP Financial Measures" for description of items included in adjustments.

Peers Headlines