Financial Information

Record annual revenue of $128.3 million, which includes a 79% growth in wastewater and represents nine consecutive years of revenue growth.

Record quarterly revenue of $57.2 million, representing a 35% year-on-year growth with strong performance in Energy Recovery’s primary desalination business and the continued rapid expansion of the company’s wastewater sector.

Gross margin of 67.8%, within Energy Recovery’s expectations and above guidance.

Operating expenses of $68.0 million, in line with Energy Recovery’s expectations.