The following is a summary of the Energy Recovery, Inc. (ERII) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Energy Recovery reported a strong Q2 with water revenue of $26.9 million, a $6.4 million increase from the previous year.

• Gross margin for Q2 came in at approximately 65% and is expected to be between 62% to 64% for Q3.

• A net income loss was recorded in Q2 due to onetime expenses, though there has been improvement towards breakeven.

• Cash and investments increased from $129 million to $138 million in Q2.

Business Progress:

• Completed shipments for significant projects including the Perur project in Chennai and the Hassyan IPP project in Dubai.

• New CFO, Michael Mancini, appointed, bringing extensive financial and operational experience which is expected to support expansion into new markets such as Wastewater and CO2.

• Advanced to implementation of 30 to 50 sites with second-generation PX G by end of Q4 2024 in the CO2 business unit.

Opportunities:

• Progressive increase in signed wastewater contracts by almost 5% compared to last year, indicating a growing business segment.

• Expansion of water-related projects in India, proof of strategic market expansion in response to global water-stress issues.

Risks:

• Execution risks related to large-scale infrastructure projects that could cause delays, as observed with the slip of the Perur project.

More details: Energy Recovery IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.