Energy Recovery, Inc. (ERII) Financial Statements — Income, Balance Sheet, Cash Flow

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Financial Statements — ERII

Balance Sheet

(in millions USD)

Metric	Q2 2026	Q1 2026	Q3 2025	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022	Q1 2022	Q3 2021	Q2 2021	Q1 2021
Cash & Equivalents	61.44	50.12	47.10	57.05	49.14	63.26	40.31	70.78	51.44	44.24	66.33	52.13	43.22	44.52	65.75	103.30	105.43
Short-term Investments	31.62	36.03	23.28	22.47	34.41	55.36	60.70	46.58	33.10	50.83	32.34	30.16	38.48	37.70	41.90	17.39	14.62
Accounts Receivable	14.24	38.94	44.02	32.59	32.39	31.85	20.67	25.06	23.34	15.36	11.58	18.42	13.93	26.67	13.07	7.60	16.40
Inventory	38.24	30.89	33.57	32.66	32.41	33.46	33.66	31.67	33.89	36.32	33.12	32.13	28.24	23.48	20.56	15.29	11.93
Total Current Assets	149.42	161.06	155.62	152.15	154.59	189.91	159.03	178.37	146.27	150.29	147.94	139.22	129.08	138.97	146.81	147.85	152.84
Property, Plant & Equipment	12.62	12.76	13.34	13.63	14.59	16.35	17.25	17.89	18.75	19.39	19.70	18.72	18.96	19.93	20.91	20.44	20.73
Goodwill	11.13	11.13	12.79	12.79	12.79	12.79	12.79	12.79	12.79	12.79	12.79	12.79	12.79	12.79	12.79	12.79	12.79
Intangible Assets	--	--	--	--	--	--	--	--	--	--	--	0.03	0.03	0.03	0.04	0.04	0.05
Total Non-current Assets*	48.31	47.93	54.02	60.13	70.80	72.79	90.01	65.89	76.39	59.38	60.03	60.90	62.40	72.80	61.98	61.50	62.38
Total Assets	197.74	208.99	209.65	212.28	225.39	262.71	249.04	244.27	222.66	209.67	207.97	200.12	191.48	211.78	208.79	209.34	215.22
Accounts Payable	5.00	2.79	4.74	3.44	3.40	3.41	4.75	3.49	1.81	1.74	1.96	1.93	2.72	4.36	3.66	2.28	1.96
Total Current Liabilities	18.56	17.35	21.22	18.84	18.43	18.87	20.03	17.14	16.42	15.19	13.24	16.96	15.21	15.97	16.22	13.27	12.28
Total Non-current Liabilities*	6.70	7.35	7.60	8.23	8.85	9.96	10.50	11.09	12.21	12.70	13.22	13.86	14.40	14.84	15.83	16.25	16.60
Total Liabilities	25.26	24.70	28.81	27.07	27.28	28.83	30.53	28.23	28.63	27.89	26.46	30.82	29.62	30.81	32.05	29.52	28.88
Retained Earnings	113.22	116.42	101.75	97.88	95.83	82.24	73.75	74.40	62.85	53.19	54.86	47.43	42.64	45.00	31.84	30.77	29.70
Total Stockholder Equity	172.48	184.29	180.83	185.21	198.11	233.87	218.51	216.04	194.03	181.78	181.50	169.30	161.86	180.97	176.74	179.83	186.34

* Derived from reported values

Income Statement

(in millions USD) (except per-share rows)

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Total Revenue	12.00	9.71	66.87	32.00	28.05	8.07	67.08	38.58	27.20	12.09	57.19	37.04	20.72	13.40	42.29	30.46	20.29	32.55	33.58	20.78
Cost of Revenue*	3.04	7.00	21.91	11.44	10.10	3.61	19.95	13.47	9.63	4.96	17.69	11.15	7.18	5.25	--	9.42	6.92	9.50	--	--
Gross Profit	8.96	2.70	44.96	20.56	17.95	4.46	47.12	25.11	17.57	7.14	39.50	25.88	13.54	8.15	--	21.05	13.37	23.05	--	--
Research & Development	2.85	2.79	2.91	3.67	3.45	3.00	3.97	3.97	3.94	4.35	4.96	3.97	3.77	4.31	3.74	3.83	5.43	4.91	6.73	4.42
Selling, General & Admin	6.80	6.46	6.01	7.51	7.67	8.57	8.30	7.67	9.53	7.57	7.16	7.37	7.27	7.07	7.19	7.61	7.00	6.55	6.53	5.85
Total Operating Expenses	14.84	17.56	13.65	16.90	16.48	17.02	21.51	18.06	19.58	18.07	18.89	16.75	16.13	16.27	15.29	16.14	16.28	14.83	17.18	13.27
Operating Income	(5.88)	(14.86)	31.32	3.66	1.47	(12.56)	25.62	7.06	(2.01)	(10.93)	20.61	9.13	(2.59)	(8.11)	14.61	4.91	(2.90)	8.22	5.97	1.43
Pretax Income	(5.08)	(14.03)	32.14	4.55	2.39	(11.48)	26.86	8.82	(0.40)	(9.54)	21.91	10.18	(1.93)	(7.45)	15.37	5.16	(2.80)	8.34	5.99	1.46
Tax Provision	(1.88)	(1.77)	5.22	0.68	0.33	(1.60)	3.38	0.34	0.24	(1.28)	2.11	0.52	(0.26)	(1.16)	1.65	0.37	(0.44)	0.45	0.73	0.39
Net Income	(3.20)	(12.25)	26.91	3.87	2.05	(9.88)	23.47	8.48	(0.64)	(8.26)	19.81	9.66	(1.66)	(6.30)	13.73	4.79	(2.36)	7.89	5.26	1.07
Basic EPS	(0.06)	(0.23)	0.50	0.07	0.04	(0.18)	0.40	0.15	(0.01)	(0.14)	0.35	0.17	(0.03)	(0.11)	0.24	0.09	(0.04)	0.14	0.09	0.02
Diluted EPS	(0.06)	(0.23)	0.49	0.07	0.04	(0.18)	0.40	0.15	(0.01)	(0.14)	0.34	0.17	(0.03)	(0.11)	0.24	0.08	(0.04)	0.14	0.08	0.02

* Derived from reported values

Cash Flow Statement

(in millions USD)

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Operating Cash Flow	16.31	21.04	7.08	(3.13)	4.15	10.68	8.96	(3.00)	8.07	6.50	13.78	7.75	(4.13)	8.66	6.36	(1.21)	9.08	(1.60)	6.23	(4.25)
Capital Expenditures	0.88	0.81	0.66	0.34	0.14	0.19	0.10	0.17	0.20	0.82	1.39	1.18	--	--	1.23	0.56	0.46	1.98	1.78	2.45
Free Cash Flow*	15.43	20.22	6.42	(3.47)	4.01	10.49	8.85	(3.17)	7.87	5.67	12.39	6.57	--	--	5.13	(1.77)	8.62	(3.58)	4.45	(6.70)
Investing Cash Flow	4.63	(7.61)	(3.03)	3.45	20.89	12.67	6.52	21.66	(38.84)	(4.99)	(0.74)	(1.34)	(18.20)	1.17	(2.82)	8.86	7.95	(20.93)	6.98	(27.93)
Financing Cash Flow	(9.61)	(11.38)	(3.12)	(10.39)	(17.15)	(3.87)	(49.08)	4.29	0.31	1.19	3.61	0.81	0.21	0.17	0.74	1.23	(18.34)	(7.29)	(4.57)	(5.36)

* Derived from reported values