RestructuringMay 6, 2026, 04:15 PM
Energy Recovery Winds Down CO2 Business; Q1 Net Loss $(12.25)M
AI Summary
Energy Recovery, Inc. reported a net loss of $(12.25) million for Q1 2026, widening from $(9.88) million in Q1 2025, despite a revenue increase to $9.71 million. This was primarily driven by a significant restructuring plan, including the wind-down of its CO2 retail grocery business within the Emerging Technologies segment. The restructuring resulted in $1.5 million in charges, a $1.6 million inventory reserve, and a $1.7 million goodwill impairment.
Key Highlights
- Wound down CO2 retail grocery business in Emerging Technologies segment.
- Recorded $1.5 million restructuring charge for 23 terminated employees.
- Incurred $1.6 million inventory reserve for CO2 business wind-down.
- Recognized $1.7 million goodwill impairment related to CO2 business.
- Q1 2026 revenue increased to $9.71 million from $8.07 million YoY.
- Q1 2026 net loss widened to $(12.25) million from $(9.88) million YoY.
- Basic and diluted loss per share was $(0.23) vs $(0.18) YoY.
- Revolving credit line extended to January 21, 2031.