Energy Recovery, Inc. reported its financial results for the second quarter of 2025, revealing a revenue of $28.1 million, a 3.1% increase from $27.2 million in the same period last year. The company achieved a net income of $2.1 million, or $0.04 per share, compared to a net loss of $642,000, or $(0.01) per share, in Q2 2024. For the first half of 2025, total revenue was $36.1 million, down 8.1% from $39.3 million in the prior year, with a net loss of $7.8 million compared to a loss of $8.9 million in the same period of 2024.
The company noted significant changes in its operational metrics, particularly in its customer segments. Revenue from the Megaproject channel decreased by 6% to $14.8 million, while the Original Equipment Manufacturer (OEM) channel saw a 20% increase to $8.4 million. The Aftermarket channel also experienced a 10% rise, contributing $4.9 million. Geographically, the Middle East and Africa accounted for $9.4 million of total revenue, while Asia and Europe contributed $8.1 million and $9.1 million, respectively.
Energy Recovery has been actively managing its operational costs, resulting in a 15.8% reduction in total operating expenses to $16.5 million for the quarter. This decrease was attributed to lower employee compensation costs and the absence of a severance charge that had impacted the previous year. The company also recorded a restructuring charge of $0.5 million during the first half of 2025, part of a broader plan to streamline operations and reduce costs.
In terms of strategic developments, Energy Recovery has continued its share repurchase program, having repurchased approximately 1.6 million shares for $21.6 million under its February 2025 authorization. The company also announced a new repurchase program on August 6, 2025, allowing for an additional $25 million in stock buybacks. Looking ahead, Energy Recovery anticipates that its existing cash and cash equivalents, along with ongoing operational cash flow, will be sufficient to meet liquidity needs for the foreseeable future, although it may seek additional financing for potential acquisitions or investments in new technologies.
About Energy Recovery, Inc.
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