Energy Recovery Q3 revenue falls 65% to $11.2 million, swings to $6.3 million net loss
Energy Recovery reported third-quarter 2026 results on November 4, 2026, with revenue of $11.2 million, down from $32.0 million a year earlier, and a net loss of $6.3 million, compared with net income of $3.9 million in the third quarter of 2025. The company attributed the decline in operating results primarily to lower revenue, which it linked to the war in Iran, and said its outlook for 2026 appears in a separate shareholder letter that is not part of this filing.
Key points
- Q3 2026 revenue was $11.2 million, down 65% from $32.0 million in Q3 2025.
- Net loss was $6.3 million, or $0.12 per diluted share, versus net income of $3.9 million, or $0.07 per diluted share, a year earlier.
- Gross margin fell to 37.5% from 64.2%, and the loss from operations was $9.8 million.
- Cash and investments totaled $85.6 million as of September 30, 2026.
The filing
Written by AI on Nov 9, 2026, 10:08 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 04, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.