Nov 4
ERII · Energy Recovery, Inc.
$7.27
+0.10 (+1.39%)
At close · Nov 13
Return incl. dividend (before tax)
Market Cap
$369.05M
Shares
50.76M
Volume · Nov 13
804.5K
Avg daily vol (3M)
943.92K
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Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$7.27
Open$7.21
Day$7.09–7.31
52W close$6.64–16.24
Avg vol 30d891K
Short int2.9M · 5.8% of shares · 3.7d
Short vol49%
Last earningsNov 4, 2026
DataJan 2020–Nov 2026
Filing10-Q · Nov 4
Up next
Feb 24, 2027
Est · unconfirmed
· in 14 wks
Latest documents
2026
Nov 4
Quarterly report
10-Q
FY2026 Q3, ended Sep 30
Third-quarter revenue falls 65% as gross margin drops to 37.5%
Energy Recovery reported third-quarter revenue of $11,196 thousand, down 65% from $32,000 thousand, as gross margin fell to 37.5% from 64.2%. Nine-month revenue declined 52% to $32,898 thousand from $68,116 thousand.
Revenue $11.2M
▼ 65.0%
Net loss $6.33M
Diluted EPS -$0.12
Nov 4
Current report
8-K
Third-quarter revenue $11.2 million, net loss $6.3 million
Energy Recovery reported third-quarter revenue of $11.2 million, a net loss of $6.3 million, an adjusted EBITDA loss of $7.8 million, and cash and investments of $85.6 million for the period ended September 30, 2026.
Aug 5
Aug 5
Quarterly report
10-Q
FY2026 Q2, ended Jun 30
Quarterly report for FY2026 Q2
AI summary on its way
Revenue $12M
▼ 57.2%
Net loss $3.2M
Diluted EPS -$0.06
Metrics snapshot
Useful current figures from the complete screener profile.
Revenue (TTM)
$99.77M
Trailing 12 months
Net income (TTM)
$5.13M
Trailing 12 months
Revenue growth YoY
-65.0%
Year over year
Operating margin
0.8%
Trailing 12 months
P / E (TTM)
90.9
Trailing earnings · reciprocal yield 1.1%
FCF yield
8.8%
TTM · current market cap
Return on invested capital
—
Trailing 12 months
Net cash
—
Latest balance sheet
Dividend yield
—
Trailing 12 months
Shares change YoY
-4.6%
Year over year · fewer shares
Price change (1Y)
-50.0%
Trailing year
Short interest
5.8%
Latest settlement · 3.7 days to cover
Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q3 FY26 earnings call · Nov 4, 2026
Q3 FY26
TL;DR. Megaproject contracting rebounded with backlog above $60 million, a record pipeline of about $525 million, at least $50 million of 2027 revenue visibility, and an expected $30 billion market build-out, while the company maintains zero debt, strong cash generation, Saudi manufacturing capacity, cost reductions, and capital returns. Q3 revenue, gross margin, operating profit, and net income deteriorated, guidance remains unrestored because of shipment-timing uncertainty, wastewater performance was unsatisfactory, and near-term aftermarket demand may be constrained by customer destocking.
Bullish
- + Megaproject contracting resumed, backlog exceeded $60 million, and the pipeline reached a record of about $525 million, with visibility to at least $50 million of 2027 revenue.
- + Approximately $30 billion of desalination and reuse capital spending is expected from 2027 through 2030.
- + The PXQ-650 has been specified at several large decal sites and secured its first contract at the 600,000 cubic meter per day Jubiel plant.
- + Cost actions reduced quarterly operating expenses by 17% versus last year and almost 23% versus two years ago.
- + The company has repurchased nearly $109 million of stock since the fourth quarter of 2024.
Bearish
- − Q3 revenue fell 65% to $11.2 million, while year-to-date revenue fell 52% to $32.9 million.
- − Q3 gross margin fell to 37.5% from 64.2% because of lower volume, product mix, and indirect manufacturing costs.
- − Management has not restored annual or quarterly guidance because shipment timing remains difficult to predict.
- − Management was dissatisfied with wastewater's quarterly performance despite expecting a Q4 tick-up.
- − Near-term aftermarket demand may be constrained as budget-constrained customers keep one spare part on the shelf instead of two.
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceOverall
Neutral
SellHoldBuy
Technical
Neutral
Momentum
Weak
Sentiment
Neutral
Fundamentals
Strong
Quant / Vol
Very High
Market backdrop
VIX 19.3 · elevated
Equity put/call 0.63
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
−21%
below
Price vs 50-day avg
+4%
above
RSI (14)
56
neutral
MACD trend
Positive
52-week position
7%
near low
Volume (OBV)
Confirms
volume backs price
Momentum
relative strength
1-month return
+9%
trailing
6-month return
−17%
trailing
YTD return
−46%
this year
Relative strength
−18%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $7 › 200d $9 — 200d above 50d
Institutional flow
Distributing
177 of 200 funds reported for Sep 30 · net -1.4M sh shares · +28 new
Insider flow
Flat
No net insider activity over 90 days
Short interest
Falling
5.77% of shares out · ▼ -8.5% MoM · 3.7 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
200 holders — near 3-yr high, broad support
Squeeze score
58
elevated · 0–100
Fundamentals
Revenue growth
−7%
Y/Y
Gross margin
65%
contracting
EPS growth
+5%
Y/Y
Free cash flow
$17.4M
Buyback
$21.3M
remaining
Quant / Vol
risk profile
Volatility
55%
annualized · 1-yr
Max drawdown
−59%
past year
ATR
3.9%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the Earnings Call filed Aug 5, 2026
Total CAPEX
· this year
$3M – $6M
Guided vs delivered
· last 3 settled
Revenue
full-year
guided $140M – $150M
$144.95M
In line
Full year revenue
full year
guided $121M – $125M
$125.59M
Beat +2.1%
Revenue
Q3
guided $19M – $21M
$20.78M
In line
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Neutral
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
−21%
Bearish
Price vs 50-day avg
+4%
Bullish
RSI (14)
56
Neutral
MACD trend
Positive
Bullish
52-week position
7%
Bearish
Volume (OBV)
Confirms
Neutral
Market signals — smart money & positioning
Bullish · 2 of 6
Trend (MA cross)
No cross
50d $7 › 200d $9 — 200d above 50d
Institutional flow
Distributing
177 of 200 funds reported for Sep 30 · net -1.4M sh shares · +28 new
Insider flow
Flat
No net insider activity over 90 days
Short interest
Falling
5.77% of shares out · ▼ -8.5% MoM · 3.7 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
200 holders — near 3-yr high, broad support
Price context
position in its 52-week range
Range low $7
Now $7 · 7%
Range high $16
vs 200-day avg -21%
vs 50-day avg +4%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted EBITDA non-GAAP | -9.7M | Six Months Ended June 30, 2026 | — |
| Adjusted operating margin non-GAAP | -30.4% | Q2'2026 | — |
| Cash and investments | 98.1M | Q2 2026 | — |
| Free cash flow non-GAAP | 35.7M | Six Months Ended June 30, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Pollution & Treatment Controls — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
ERII
this stock
Energy Recovery, Inc.
|
$369.05M | -46.1% | -6.9% | 90.9 | 5.8% |
|
VLTO
Veralto Corp
|
$28.75B | +18.5% | +6.0% | 29.2 | 2.0% |
|
ZWS
Zurn Elkay Water Solutions Corp
|
$7.61B | -1.3% | +19.4% | 26.8 | 2.2% |
|
ORCRY
Organo Corporation
|
$3.33B | — | — | — | — |
|
CECO
Ceco Environmental Corp
|
$3.18B | -9.4% | +38.8% | — | 1.3% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Financials
Filings
SEC Filings
Latest
8-K
- Filed
- Nov 4, 2026
- This year
- 13
Energy Recovery reported third-quarter revenue of $11.2 million, a net loss of $6.3 million, an adjusted EBITDA loss of $7.8 million, and cash and investments of $85.6 million for the period ended September 30, 2026.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| ERII | +1.7% | +9.3% | -17.1% | +4.5% | -46.1% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | -0.9% | +10.5% | -17.6% | +4.6% | -56.7% |
Capital returns
Buyback program
· as of Sep 30, 2026
Authorized
$25.00M
Spent (derived)
$3.70M
Remaining
$21.30M
Spent
Remaining
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.
Key facts
CIK
1421517
CUSIP
29270J100
13F (30d)
148 filings
133 filers
Visit website
Investor relations