As of September 30, 2024, Energy Recovery, Inc. reported total assets of $262.7 million, reflecting an increase from $253.0 million at the end of 2023. Total current assets also rose to $189.9 million, up from $185.5 million. However, cash and cash equivalents decreased to $63.3 million, down from $68.1 million during the same period.
For the third quarter of 2024, the company achieved revenue of $38.6 million, an increase from $37.0 million in Q3 2023. Despite this revenue growth, gross profit for the quarter declined to $25.1 million, compared to $25.9 million in the prior year. Net income for Q3 2024 was reported at $8.5 million, a decrease from $9.7 million in Q3 2023.
For the nine months ending September 30, 2024, total revenue reached $77.9 million, compared to $71.2 million for the same period in 2023. However, the company experienced a net loss of $(421,000) for the nine-month period, contrasting with a net income of $1.7 million in the previous year. Operating expenses for Q3 2024 increased to $18.1 million, up from $16.7 million in Q3 2023. Cash flows from operating activities for the nine months ended September 30, 2024, were $11.6 million, slightly lower than the $12.3 million reported for the same period in 2023.
As of September 30, 2024, Energy Recovery, Inc. had 57,893,899 shares of common stock outstanding.
About Energy Recovery, Inc.
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