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How Energy Recovery, Inc. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$135M · 100%Cost of revenue$47.1M · 35%Gross profit$87.9M · 65%Operating income$23.9M · 18%Income before tax$27.6M · 20%Income tax$4.6M · 3%Net income$23M · 17%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$135M100%
  • 10-K · FY 2025Filing detailsAccession 0001421517-26-000022 · filed Feb 25, 2026
Cost of revenue$47.1M35%
  • 10-K · FY 2025Filing detailsAccession 0001421517-26-000022 · filed Feb 25, 2026
$87.9M65%
  • 10-K · FY 2025Filing detailsAccession 0001421517-26-000022 · filed Feb 25, 2026
$23.9M18%
  • 10-K · FY 2025Filing detailsAccession 0001421517-26-000022 · filed Feb 25, 2026
Income before tax$27.6M20%
  • 10-K · FY 2025Filing detailsAccession 0001421517-26-000022 · filed Feb 25, 2026
Income tax$4.6M3%
  • 10-K · FY 2025Filing detailsAccession 0001421517-26-000022 · filed Feb 25, 2026
$23M17%
  • 10-K · FY 2025Filing detailsAccession 0001421517-26-000022 · filed Feb 25, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001421517-26-000022 · filed Feb 25, 2026
· event Dec 31, 2025 · retrieved Oct 15, 2026 · annual-row source set
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ERII income explainer — Buy Like Buffett · Buy Like Buffett