Energy Recovery, Inc. reported financial results for the second quarter and six months ended June 30, 2026. Revenue fell to $12.0 million in Q2, a 57% decline from the prior year period, driven by lower megaproject demand attributed to geopolitical tensions. The company posted a net loss of $3.2 million ($0.06 per diluted share) compared to net income of $2.1 million previously. Gross margin improved to 74.7% due to indirect manufacturing cost efficiencies and channel mix, partially offset by volume declines. Operating expenses decreased 10% year-over-year despite incurring restructuring charges. The company holds $98.1 million in cash and investments. Energy Recovery designs and manufactures energy-saving technology for critical infrastructure, primarily utilizing proprietary pressure exchanger technology in the desalination industry.

Energy Recovery, Inc. announced the appointment of Mr. John Mitchell to its Board of Directors on July 9, 2026. The Board now consists of six directors. Energy Recovery, Inc. provides energy recovery solutions for water desalination and industrial processes.

Energy Recovery, Inc. filed an amendment to its previous 8-K to disclose the compensation package for Interim President and CEO Alex Buehler. Under the employment letter dated June 5, 2026, Mr. Buehler will receive an annual salary of $645,000 and is eligible for a success bonus upon the appointment of a permanent CEO. Energy Recovery, Inc. provides energy recovery technology solutions for industrial and industrial-related processes.

Energy Recovery, Inc. held its 2026 Annual Meeting of Stockholders on June 4, 2026, where stockholders-wise results of director elections, executive compensation, and auditor ratification and incentive plan amendment. Approximately 85.3% of shares outstanding were represented at the meeting.