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Mar 31, 2024
Energy Recovery Q1 2024 Earnings Report
Announced financial results for the first quarter ended March 31, 2024
Key Takeaways
Energy Recovery reported Q1 2024 revenue of $12.1 million, aligning with guidance. Gross margin was 59.0%, down 190 bps year-over-year due to higher manufacturing costs and increased inventory scrap. The company anticipates being in line with its full-year revenue guidance of $140-$150 million.
Revenue of $12.1 million, in-line with February 2024 guidance.
Gross margin of 59.0%, a decrease of 190 bps compared to Q1 2023.
Operating expenses of $18.1 million, an increase of 11% compared to Q1 2023.
Net loss of $8.3 million and adjusted EBITDA loss of $6.2 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Energy Recovery expects to be in-line with its full year revenue guidance of $140-$150 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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