Energy Recovery, Inc. (ERII) Revenue History
Annual and quarterly revenue from 2006 to present
ERII Revenue Over Time (2006–2025)
ERII Revenue Growth History
13 of 19 years with positive growth- FY2006 revenue growth
- N/A
- FY2007 revenue growth
- +76.6%
- FY2008 revenue growth
- +47.2%
- FY2009 revenue growth
- -9.8%
- FY2010 revenue growth
- -2.5%
- FY2011 revenue growth
- -38.8%
- FY2012 revenue growth
- +52.0%
- FY2013 revenue growth
- +1.0%
- FY2014 revenue growth
- -29.3%
- FY2015 revenue growth
- +47.0%
- FY2016 revenue growth
- +22.4%
- FY2017 revenue growth
- +15.4%
- FY2018 revenue growth
- +18.0%
- FY2019 revenue growth
- -2.3%
- FY2020 revenue growth
- +26.4%
- FY2021 revenue growth
- +12.8%
- FY2022 revenue growth
- +20.9%
- FY2023 revenue growth
- +2.2%
- FY2024 revenue growth
- +12.9%
- FY2025 revenue growth
- -7.1%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $9.7M | +20.3% |
| Q4 2025 | $66.6M | -0.7% |
| Q3 2025 | $32.0M | -17.1% |
| Q2 2025 | $28.1M | +3.1% |
| Q1 2025 | $8.1M | -33.3% |
| Q4 2024 | $67.1M | +17.3% |
| Q3 2024 | $38.6M | +4.2% |
| Q2 2024 | $27.2M | +31.3% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
ERII's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
ERII Revenue Analysis (2006–2025)
Current Revenue & Growth
As of June 21, 2026, Energy Recovery, Inc. (ERII) generated trailing twelve-month (TTM) revenue of $136.3 million, reflecting exceptional growth of +20.3% year-over-year. The most recent quarter (Q1 2026) recorded $9.7 million in revenue, down 85.4% sequentially.
Historical Growth Trajectory
ERII's 5-year compound annual growth rate (CAGR) stands at +7.9%, indicating steady revenue expansion. The 3-year CAGR of +2.4% is below the 5-year average, signalling a growth deceleration in recent years. Energy Recovery, Inc.'s highest annual revenue of $144.9 million was recorded in 2024.
Revenue by Segment
ERII's revenue is primarily driven by Water Segment (100%), and Emerging Technologies Segment (0%). With over half of revenue concentrated in Water Segment, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Industrials sector peers — including FELE (+8.0% YoY), PUMP (-15.6% YoY), and HLIO (+10.5% YoY) — ERII has outperformed the peer group in revenue growth. Compare ERII vs FELE →
ERII Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| ERIICurrent | $136M | +20.3% | +7.9% | 18.2% | |
 FELE | $2.1B | +8.0% | +11.3% | 12.7% | |
 PUMP | $1.3B | -15.6% | +10.0% | 1.5% | |
 HLIO | $839M | +10.5% | +9.9% | 7.9% | |
 PNR | $4.2B | +3.1% | +6.7% | 20.5% | |
 XYL | $9.0B | +5.7% | +13.1% | 13.5% |
ERII Historical Revenue Data (2006–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $134.7M | -7.1% | $87.8M | 65.2% | $24.6M | 18.2% |
| 2024 | $144.9M | +12.9% | $96.9M | 66.9% | $19.7M | 13.6% |
| 2023 | $128.3M | +2.2% | $87.1M | 67.8% | $19.1M | 14.8% |
| 2022 | $125.6M | +20.9% | $87.4M | 69.6% | $24.8M | 19.8% |
| 2021 | $103.9M | +12.8% | $71.2M | 68.6% | $13.8M | 13.3% |
| 2020 | $92.1M | +26.4% | $63.8M | 69.3% | $31.3M | 34.0% |
| 2019 | $72.8M | -2.3% | $52.5M | 72.1% | $10.4M | 14.2% |
| 2018 | $74.5M | +18.0% | $56.6M | 76.0% | $10.0M | 13.4% |
| 2017 | $63.2M | +15.4% | $44.1M | 69.8% | $3.3M | 5.2% |
| 2016 | $54.7M | +22.4% | $36.9M | 67.4% | $357K | 0.7% |
| 2015 | $44.7M | +47.0% | $25.6M | 57.3% | $-11,791,000 | -26.4% |
| 2014 | $30.4M | -29.3% | $16.7M | 54.9% | $-18,483,000 | -60.7% |
| 2013 | $43.0M | +1.0% | $25.7M | 59.8% | $-2,888,000 | -6.7% |
| 2012 | $42.6M | +52.0% | $20.2M | 47.4% | $-8,653,000 | -20.3% |
| 2011 | $28.0M | -38.8% | $7.8M | 27.8% | $-25,294,000 | -90.2% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
20+ years return with dividends reinvested.
DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
ERII — Frequently Asked Questions
Quick answers to the most common questions about buying ERII stock.
Is ERII's revenue growth accelerating or slowing?
ERII revenue growth is accelerating. TTM revenue reached $136M, up +20.3% year-over-year — ahead of the 5-year CAGR of +7.9%. This indicates the business is expanding faster than its historical baseline.
What is ERII's revenue history from 2006 to 2026?
Energy Recovery, Inc. (ERII) revenue history spans 2006 to 2026. TTM revenue as of 2026 is $136M, growing at +20.3% YoY. The 5-year CAGR is +7.9%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is ERII's long-term revenue growth rate (CAGR)?
Energy Recovery, Inc.'s 5-year revenue CAGR of +7.9% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +20.3% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for ERII.
Why does ERII's quarterly revenue fluctuate?
ERII quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Energy Recovery, Inc.'s revenue data from 2006 to 2026 shows full historical quarterly detail on this page.
How is ERII's revenue distributed by segment?
ERII reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does ERII's revenue compare to industry peers?
Energy Recovery, Inc. (ERII) with TTM revenue of $136M and +20.3% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.