Filing Flows › Industrials › Energy Recovery (ERII)

Energy Recovery (ERII) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Energy Recovery (ERII) Q3 2026 earnings results →

Q3 2026 Revenue down 65% year over year to $11.2M · 57¢ of every $1 of revenue lost · operating margin -87.5%

Energy Recovery made $11.2M in Q3 2026 (-65% Y/Y): Desalination $10.7M, Wastewater $476K. Operating margin -87.5%, net loss $6.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.

Revenue$11.2M

Year over year-65%

Operating margin-87.5%

Net earnings−$6.3M

Operating cash flow−$9.2M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $11.2M in Q3 2026, down 65% year over year and down 7% from the previous quarter. Desalination was the largest line at 96% of revenue. Desalination lost $18.4M year over year (down 63%), 89% of the total change.

Gross margin was 37.5%, down 26.8 points from Q3 2025. Operating costs exceeded revenue by $9.8M, an operating margin of -87.5%. Operating expenses fell 17% while revenue fell 65%. The quarter ended with a net loss of $6.3M, wider than the previous quarter's $3.2M loss.

Operating cash flow was −$9.2M. Non-cash charges added back $1.0M of depreciation and amortization and $1.0M of share-based compensation. Working capital and other items used $5.0M. Capital expenditures of $459K exceeded it, leaving free cash flow of −$9.7M.

Quarterly history

Quarter	Form	Filed	Revenue	Y/Y	Op. margin	Net earnings	Op. cash flow
Q3 2026	10-Q	Nov 4, 2026	$11.2M	-65%	-87.5%	−$6.3M	−$9.2M
Q2 2026	10-Q	Aug 5, 2026	$12.0M	-57%	-49.0%	−$3.2M	$16.3M
Q1 2026	10-Q	May 6, 2026	$9.7M	+20%	-153.1%	−$12.3M	$21.0M
Q4 2025	10-K	Feb 25, 2026	$66.9M	-0.3%	46.8%	$26.9M	$7.1M
Q3 2025	10-Q	Nov 5, 2025	$32.0M	-17%	11.4%	$3.9M	−$3.1M
Q2 2025	10-Q	Aug 6, 2025	$28.1M	+3%	5.3%	$2.1M	$4.1M
Q1 2025	10-Q	May 7, 2025	$8.1M	-33%	-155.8%	−$9.9M	$10.7M

Charts

Latest (Q3 2026): Y/Y -65%, Q/Q -7%.

From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.

Latest (Q3 2026): Net income −$6.3M, Operating cash flow −$9.2M.

-4.4% since FY2020: buybacks shrank the count.

Special Industry Machinery, NEC; dot size is quarterly revenue; dashed lines are the industry's medians.