Energy Recovery, Inc. (ERII)
Energy Recovery, Inc. (ERII) is a global technology firm that engineers, manufactures, and distributes cutting-edge solutions predominantly for the seawater reverse osmosis (SWRO) desalination and industrial wastewater treatment industries. The company manages its operations through two distinct divisions: Water and Emerging Technologies. Its extensive product range includes advanced energy recovery devices, high-pressure feed and recirculation pumps, and hydraulic turbochargers and boosters. Beyond hardware, ERII also offers crucial support services such as spare parts, repair, field technical assistance, and commissioning. Furthermore, the company develops specialized solutions aimed at minimizing energy consumption in natural gas processing and in refrigeration systems that employ carbon dioxide. These various offerings are commercialized under recognized brand names including ERI, Ultra PX, PX, Pressure Exchanger, PX PowerTrain, VorTeq, IsoBoost, AT, and AquaBold. Its diverse customer base encompasses large engineering, procurement, and construction (EPC) companies, direct end-users, industry consultants, original equipment manufacturers (OEMs), and aftermarket clients. Founded in 1992, Energy Recovery, Inc. is headquartered in San Leandro, California.
Sector: Special Industry Machinery, NEC
Industry: Industrial - Pollution & Treatment Controls
Energy Recovery, Inc.
NASDAQ:ERIIIndustrials · Industrial - Pollution & Treatment Controls
PrePre-market+0.56%$7.19
Close$7.15-0.84%AH$7.09+1.41%Now$7.19
Close$7.15+6.56%AH$7.09+1.41%since
Mkt Cap$362.96M
Float49.93M
O/S50.76M
PM VOL861 sh
$ Vol≈$6K
RVOL4.15×
Inst Own83.3%
Dilution
Financials Summary
Revenue$134.7M
Net Income$22.96M
Total Assets$231.51M
Free Cash Flow$17.44M
Debt & Equity
Debt 4%
Equity 96%
Total Debt$9.43M
Total Equity$206.19M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in ERII's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$231.51M
Liabilities$25.32M
Accounts Receivable$76.64M
Accounts Payable$2.11M
Inventory$24.26M
PP&E (Net)$20.64M
Goodwill$12.79M
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 |
| Revenue | $134.7M | $144.95M | $128.35M | $125.59M | $103.9M | $92.09M | $72.83M | $74.52M | $63.16M | $54.72M | $44.71M | $30.43M | $43.05M | $42.63M | $28.05M | $45.85M | $47.01M | $52.12M | $35.41M | $20.06M | $10.69M | $4.05M | $4.04M |
| YoY Growth | -7.1% | 12.9% | 2.2% | 20.9% | 12.8% | 26.4% | -2.3% | 18.0% | 15.4% | 22.4% | 47.0% | -29.3% | 1.0% | 52.0% | -38.8% | -2.5% | -9.8% | 47.2% | 76.6% | 87.7% | 164.1% | 0.0% | - |
| Cost of Revenue | $46.92M | $48.02M | $41.27M | $38.23M | $32.67M | $28.25M | $20.34M | $17.87M | $19.06M | $17.85M | $19.11M | $13.71M | $17.32M | $22.42M | $20.25M | $23.78M | $17.59M | $18.93M | $14.85M | $8.13M | $0 | $2.02M | $2.01M |
| Gross Profit | $87.78M | $96.93M | $87.08M | $87.36M | $71.23M | $63.84M | $52.5M | $56.64M | $44.09M | $36.87M | $25.6M | $16.71M | $25.72M | $20.21M | $7.8M | $22.07M | $29.42M | $33.19M | $20.56M | $11.93M | $10.69M | $2.03M | $2.03M |
| Gross Margin | 65.2% | 66.9% | 67.8% | 69.6% | 68.6% | 69.3% | 72.1% | 76.0% | 69.8% | 67.4% | 57.3% | 54.9% | 59.8% | 47.4% | 27.8% | 48.1% | 62.6% | 63.7% | 58.1% | 59.5% | 100.0% | 50.2% | 50.3% |
| Research and Development | $6.34M | $16.24M | $17M | $17.91M | $20.07M | $23.45M | $23.4M | $17.01M | $13.44M | $10.14M | $7.66M | $9.69M | $4.36M | $4.77M | $3.53M | $3.94M | $3.04M | $2.42M | $1.71M | $1.27M | $0 | $340K | $25K |
| Selling, General, and Administrative | $19.35M | $58.5M | $51.03M | $44.62M | $37.32M | $33.65M | $32.27M | $29.02M | $26.75M | $25.74M | $29.1M | $24.66M | $23.14M | $22.44M | $24.74M | $25.24M | $20.23M | $17.87M | $9.53M | $7.02M | $0 | $2.09M | $1.81M |
| Other | $37.53M | $2.48M | $0 | $0 | $12K | -$24.55M | -$13.53M | -$80K | -$188K | $290K | -$139K | $69K | $109K | $143K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $63.22M | $77.21M | $68.03M | $62.53M | $57.4M | $32.55M | $42.13M | $46.66M | $40.82M | $36.51M | $37.39M | $35.2M | $28.43M | $28.25M | $29.8M | $27.04M | $23.27M | $20.29M | $11.23M | $8.29M | $0 | $2.43M | $1.83M |
| Operating Income (EBIT) | $24.55M | $19.72M | $19.05M | $24.83M | $13.83M | $31.29M | $10.36M | $9.98M | $3.28M | $357K | -$11.79M | -$18.48M | -$2.89M | -$8.65M | -$25.29M | -$4.97M | $6.15M | $12.9M | $9.33M | $3.64M | $10.69M | -$400K | $201K |
| Operating Margin | 18.2% | 13.6% | 14.8% | 19.8% | 13.3% | 34.0% | 14.2% | 13.4% | 5.2% | 0.7% | -26.4% | -60.7% | -6.7% | -20.3% | -90.2% | -10.8% | 13.1% | 24.8% | 26.3% | 18.1% | 100.0% | -9.9% | 5.0% |
| Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1K | $2K | $3K | $42K | $0 | $0 | $6K | $34K | $73K | $46K | $79K | $105K | $77K | $0 | $54K | $38K |
| Interest Income | $3.61M | $6.22M | $3.76M | $908K | $204K | $913K | $2.01M | $1.54M | $870K | $309K | $53K | $0 | $0 | $0 | $0 | $0 | $0 | $873K | $517K | $58K | $0 | $1K | $0 |
| Other Income (Expense) | $3.04M | $6.01M | $3.65M | $1.24M | $173K | $839K | $1.89M | $1.46M | $680K | $287K | -$181K | $69K | $109K | $137K | $150K | -$267K | $8K | $794K | $412K | -$19K | -$181K | -$53K | -$38K |
| Income Before Tax (EBT) | $27.59M | $25.73M | $22.7M | $26.07M | $14M | $32.13M | $12.26M | $11.44M | $3.96M | $644K | -$11.97M | -$18.41M | -$2.78M | -$8.52M | -$25.14M | -$5.23M | $6.16M | $13.7M | $9.74M | $3.62M | $0 | -$453K | $163K |
| Income Tax Expense | $4.63M | $2.69M | $1.2M | $2.02M | -$265K | $5.75M | $1.34M | -$10.65M | -$8.39M | -$390K | -$334K | $291K | $327K | -$262K | $1.3M | -$1.63M | $2.47M | $5.03M | $3.95M | $1.24M | -$894K | $53K | -$11K |
| Net Income | $22.96M | $23.05M | $21.5M | $24.05M | $14.27M | $26.39M | $10.91M | $22.09M | $12.35M | $1.03M | -$11.64M | -$18.7M | -$3.11M | -$8.25M | -$26.44M | -$3.61M | $3.69M | $8.66M | $5.79M | $2.38M | $894K | -$506K | $174K |
| Net Income Margin | 17.0% | 15.9% | 16.8% | 19.1% | 13.7% | 28.7% | 15.0% | 29.6% | 19.6% | 1.9% | -26.0% | -61.5% | -7.2% | -19.4% | -94.3% | -7.9% | 7.8% | 16.6% | 16.4% | 11.9% | 8.4% | -12.5% | 4.3% |
| Supplementary Data | |||||||||||||||||||||||
| EPS | 0.43 | 0.40 | 0.38 | 0.43 | 0.25 | 0.47 | 0.20 | 0.41 | 0.34 | 0.07 | -0.22 | -0.36 | -0.06 | -0.16 | -0.50 | -0.07 | 0.07 | 0.19 | 0.15 | 0.06 | 0.02 | -0.02 | 0.01 |
| Diluted EPS | 0.42 | 0.40 | 0.37 | 0.42 | 0.24 | 0.47 | 0.19 | 0.40 | 0.33 | 0.07 | -0.22 | -0.36 | -0.06 | -0.16 | -0.50 | -0.07 | 0.07 | 0.18 | 0.14 | 0.06 | 0.02 | -0.02 | 0.01 |
| Weighted Average OS | 53.80M | 57.21M | 56.44M | 56.22M | 56.99M | 55.71M | 54.74M | 53.76M | 53.70M | 52.34M | 52.15M | 51.67M | 51.07M | 51.45M | 52.61M | 52.07M | 50.17M | 44.85M | 39.06M | 38.02M | 36.79M | 32.16M | 30.28M |
| EBITDA | $31.36M | $28.02M | $28.45M | $32.37M | $19.94M | $38.92M | $14.76M | $15.31M | $12.91M | $7.11M | -$8.09M | -$14.39M | $1.09M | -$4.71M | -$20.32M | $43K | $7.39M | $14.3M | $9.65M | $3.87M | $10.69M | -$399K | $201K |
| EBITDA Margin | 23.3% | 19.3% | 22.2% | 25.8% | 19.2% | 42.3% | 20.3% | 20.5% | 20.4% | 13.0% | -18.1% | -47.3% | 2.5% | -11.0% | -72.4% | 0.1% | 15.7% | 27.4% | 27.3% | 19.3% | 100.0% | -9.9% | 5.0% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2004 | FY 2003 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2004-12-31 | 2003-12-31 |
| Assets | ||||||||||||||||||||||
| Current Assets | ||||||||||||||||||||||
| Cash and Cash Equivalents | $48.08M | $29.63M | $68.1M | $56.35M | $74.36M | $94.25M | $26.39M | $21.95M | $27.78M | $61.36M | $99.93M | $15.5M | $14.37M | $16.64M | $18.51M | $55.34M | $59.12M | $79.29M | $240K | $42K | $0 | $0 |
| Short-Term Investments | $27.17M | $48.39M | $40.45M | $33.48M | $31.33M | $20.45M | $58.74M | $73.34M | $70.02M | $39.07M | $257K | $13.07M | $5.86M | $9.5M | $11.71M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $75.25M | $78.02M | $108.54M | $89.83M | $105.69M | $114.7M | $85.12M | $95.29M | $97.8M | $100.44M | $100.19M | $28.57M | $20.23M | $26.14M | $30.21M | $55.34M | $59.12M | $79.29M | $240K | $42K | $0 | $0 |
| Accounts Receivable | $76.64M | $67.48M | $48.11M | $36.1M | $21.11M | $13.1M | $13.48M | $14.29M | $19.18M | $14.05M | $13.47M | $12.4M | $20.83M | $18.4M | $7.56M | $11.93M | $18.23M | $25.56M | $14.6M | $6.76M | $0 | $0 |
| Inventory | $24.26M | $24.91M | $26.15M | $28.37M | $20.38M | $11.75M | $10.32M | $7.14M | $5.51M | $4.55M | $6.5M | $8.2M | $4.96M | $5.13M | $7.82M | $9.77M | $10.36M | $8.49M | $4.79M | $2.89M | $0 | $0 |
| Other Current Assets | $5.06M | $1.76M | $2.18M | $2.26M | $2.87M | $2.65M | $981K | $97K | $3.42M | $3.26M | $2.64M | $3.08M | $5.38M | $7.74M | $9.07M | $6.73M | $6.74M | $2M | $1.42M | $676K | $0 | $0 |
| Total Current Assets | $181.21M | $173.66M | $185.47M | $157.87M | $151.76M | $143.19M | $112.97M | $119.65M | $126.2M | $122.37M | $123.53M | $53.24M | $52.13M | $60.86M | $56.67M | $88.2M | $96.18M | $116.33M | $21.42M | $11.13M | $0 | $0 |
| Long-Term Assets | ||||||||||||||||||||||
| Property, Plant & Equipment Net | $20.64M | $25.12M | $30.17M | $32.7M | $35.01M | $36.27M | $30.04M | $26.81M | $13.39M | $8.64M | $10.62M | $13.21M | $13.9M | $15.97M | $16.17M | $22.31M | $16.96M | $1.84M | $1.67M | $1.06M | $0 | $0 |
| Goodwill | $12.79M | $12.79M | $12.79M | $12.79M | $12.79M | $12.79M | $12.79M | $12.79M | $12.79M | $12.79M | $12.79M | $12.79M | $12.79M | $12.79M | $12.79M | $12.79M | $12.79M | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $37K | $49K | $65K | $640K | $1.27M | $1.9M | $2.53M | $3.17M | $4.01M | $4.93M | $6.99M | $8.35M | $10.99M | $321K | $345K | $312K | $0 | $0 |
| Long-Term Investments | $8.03M | $21.83M | $13.83M | $3.06M | $2.3M | $0 | $15.42M | $1.27M | $182K | $2.09M | $2.32M | $267K | $13.69M | $4.77M | $11.2M | -$2.1M | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $8.27M | $9M | $10.32M | $10.26M | $11.42M | $11.03M | $16.9M | $18.32M | $7.9M | $1.27M | $938K | $414K | $1.2M | $868K | $460K | $2.1M | $447K | $119K | $148K | $183K | $0 | $0 |
| Other Long-Term Assets | $577K | $391K | $388K | $366K | $367K | $988K | $598K | $368K | $12K | $4K | -$936K | $2.85M | $4.47M | $4.37M | $6.43M | $2.26M | $5.61M | $2M | $3.72M | $854K | $0 | $0 |
| Total Long-Term Assets | $50.3M | $69.14M | $67.5M | $59.17M | $61.93M | $61.12M | $75.81M | $60.19M | $35.55M | $26.69M | $28.27M | $32.7M | $50.06M | $43.7M | $54.04M | $45.72M | $46.79M | $4.28M | $5.88M | $2.4M | $0 | $0 |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $231.51M | $242.79M | $252.97M | $217.04M | $213.69M | $204.31M | $188.77M | $179.84M | $161.74M | $149.06M | $151.8M | $85.94M | $102.2M | $104.55M | $110.71M | $133.92M | $142.97M | $120.61M | $27.3M | $13.54M | $3.05M | $2.44M |
| Liabilities | ||||||||||||||||||||||
| Current Liabilities | ||||||||||||||||||||||
| Accounts Payable | $2.11M | $3.11M | $3M | $814K | $909K | $1.12M | $1.19M | $1.44M | $4.09M | $1.5M | $1.86M | $1.82M | $1.21M | $2.15M | $1.51M | $1.43M | $1.95M | $2.27M | $1.7M | $1.11M | $0 | $0 |
| Short-Term Debt | $0 | $0 | $0 | $0 | $1.56M | $0 | $0 | $0 | $11K | $11K | $10K | $0 | $0 | $0 | $167K | $288K | $468K | $172K | $210K | $531K | $0 | $0 |
| Current Income Tax Payable | $0 | $947K | $1.08M | $268K | $0 | $0 | $0 | $0 | $432K | $16K | $2K | $4K | $22K | $39K | $21K | $13K | $350K | $1.66M | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $1.04M | $571K | $1.1M | $1.2M | $3.32M | $1.55M | $15.75M | $16.27M | $6.42M | $7.27M | $5.88M | $519K | $779K | $918K | $859K | $2.34M | $4.63M | $4M | $488K | $145K | $0 | $0 |
| Other Current Liabilities | $205K | $1.09M | $1.06M | $968K | $3.82M | $760K | $3.83M | $2.65M | $11.74M | $2.66M | $3.18M | $6.07M | $3.81M | $5.04M | $7.3M | $7.15M | $13.46M | $0 | $1.49M | $1.59M | $0 | $0 |
| Total Current Liabilities | $17.35M | $23.43M | $21.47M | $18.3M | $19.79M | $15.73M | $27.83M | $27.13M | $19.83M | $17.16M | $16.02M | $11.52M | $10.94M | $12.86M | $9.88M | $10.35M | $17.5M | $13.19M | $6.62M | $5.18M | $0 | $0 |
| Long-Term Liabilities | ||||||||||||||||||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $16K | $27K | $38K | $0 | $0 | $0 | $0 | $85K | $246K | $385K | $557K | $133K | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $88K | $13.12M | $26.54M | $59.01M | $63.96M | $69M | $59K | $130K | $411K | $261K | $0 | -$447K | -$119K | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.23M | $2.36M | $1.99M | $2.13M | $1.71M | $1.52M | $317K | $447K | $119K | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $1.07M | $57K | $207K | $121K | $247K | $430K | $278K | $236K | $0 | $554K | $718K | $2.45M | $2.08M | $2.2M | $2.08M | $2.22M | $3.44M | $8K | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $7.97M | $9.35M | $11.7M | $13.4M | $15.13M | $16.96M | $24.93M | $39.33M | $59.38M | $66.77M | $72.12M | $4.5M | $4.34M | $4.32M | $3.88M | $2.77M | $4.5M | $420K | $620K | $234K | $0 | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $25.32M | $32.78M | $33.17M | $31.7M | $34.91M | $32.69M | $52.76M | $66.46M | $79.21M | $83.93M | $88.14M | $16.02M | $15.28M | $17.17M | $13.76M | $13.12M | $22M | $13.61M | $7.24M | $5.41M | $0 | $0 |
| Stockholders' Equity | ||||||||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $67K | $66K | $65K | $64K | $64K | $62K | $61K | $59K | $58K | $57K | $55K | $54K | $53K | $53K | $53K | $53K | $51K | $50K | $40K | $38K | $0 | $0 |
| Retained Earnings | $128.67M | $105.71M | $82.66M | $61.15M | $37.1M | $22.83M | -$3.55M | -$14.47M | -$45.92M | -$58.27M | -$59.31M | -$47.67M | -$28.96M | -$25.86M | -$17.6M | $8.84M | $12.45M | $8.76M | $99K | -$5.69M | $0 | $0 |
| Comprehensive Income & Other | -$94K | $98K | -$44K | -$349K | -$149K | $53K | -$37K | -$133K | -$125K | -$118K | -$64K | -$73K | -$107K | -$79K | -$92K | -$80K | -$66K | -$340K | -$840K | -$736K | $0 | $0 |
| Other Stockholders' Equity | $77.46M | $104.24M | $137.09M | $124.12M | $141.61M | $148.73M | $139.5M | $127.78M | $128.4M | $123.35M | $122.91M | $117.53M | $115.83M | $113.19M | $114.5M | $111.91M | $108.47M | $98.19M | $19.92M | $13.78M | $993K | $1.24M |
| Total Equity | $206.19M | $210.01M | $219.81M | $185.34M | $178.78M | $171.62M | $136.01M | $113.38M | $82.53M | $65.13M | $63.66M | $69.92M | $86.92M | $87.38M | $96.95M | $120.8M | $120.97M | $107M | $20.06M | $8.13M | $993K | $1.24M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $231.51M | $242.79M | $252.97M | $217.04M | $213.69M | $204.31M | $188.77M | $179.84M | $161.74M | $149.06M | $151.8M | $85.94M | $102.2M | $104.55M | $110.71M | $133.92M | $142.97M | $120.61M | $27.3M | $13.54M | $993K | $1.24M |
| Supplementary Data | ||||||||||||||||||||||
| Total Debt | $9.43M | $11.32M | $13.28M | $14.88M | $16.44M | $17.69M | $12.56M | $13.48M | $27K | $38K | $48K | $0 | $0 | $18K | $185K | $517K | $1.08M | $621K | $830K | $765K | $0 | $0 |
| Net Debt | -$38.65M | -$18.31M | -$54.82M | -$41.48M | -$57.91M | -$76.57M | -$13.83M | -$8.47M | -$27.75M | -$61.33M | -$99.88M | -$15.5M | -$14.37M | -$16.62M | -$18.32M | -$54.82M | -$58.03M | -$78.67M | $590K | $723K | $0 | $0 |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 |
| Operating Activities | ||||||||||||||||||||
| Net Income | $22.96M | $23.05M | $21.5M | $24.05M | $14.27M | $26.39M | $10.91M | $22.09M | $12.35M | $1.03M | -$11.64M | -$18.7M | -$3.11M | -$8.25M | -$26.44M | -$3.61M | $3.69M | $8.66M | $5.79M | $2.38M |
| Depreciation & Amortization | $3.76M | $5.82M | $5.75M | $6.3M | $5.94M | $5.3M | $4.39M | $3.87M | $3.67M | $3.68M | $3.84M | $4.03M | $3.8M | $3.8M | $4.79M | $5.2M | $1.18M | $522K | $323K | $231K |
| Deferred Income Tax | $737K | $1.32M | -$61K | $1.16M | -$391K | $5.87M | $1.42M | -$10.38M | -$8.87M | -$459K | -$326K | $273K | $227K | $150K | $2.84M | $1.08M | -$39K | -$674K | -$341K | -$859K |
| Stock-Based Compensation | $7.72M | $10.32M | $8.04M | $6.51M | $6.06M | $4.79M | $5.68M | $5.24M | $4.09M | $3.26M | $4.06M | $2.1M | $2.18M | $2.62M | $2.54M | $2.77M | $2.41M | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||||||||
| Accounts Receivable | -$11.56M | -$17.21M | -$12.87M | -$13.48M | -$8.82M | $1.1M | -$2.68M | $1.92M | -$761K | -$244K | -$743K | $4M | -$2.3M | -$6.78M | $2.94M | $3.11M | $8.96M | $0 | $0 | $0 |
| Inventory | $7K | $1.2M | $1.35M | -$8.28M | -$8.77M | -$1.62M | -$3.26M | -$1.87M | -$1.25M | $2.29M | $1.95M | -$3.57M | -$117K | $1.83M | $950K | -$506K | $1.88M | -$3.73M | -$1.95M | -$960K |
| Accounts Payable | -$1.46M | $787K | $2.63M | $138K | -$155K | -$205K | -$373K | -$2.27M | $2.12M | -$360K | $48K | $628K | -$866K | $583K | $108K | -$140K | -$1.72M | $0 | $0 | $0 |
| Other Working Capital | -$3.12M | -$3.52M | -$449K | -$4.24M | $3.88M | -$27.86M | -$11.39M | -$12.46M | -$9.16M | -$3.98M | $73.78M | $6.14M | $1.61M | -$1.84M | -$456K | -$4.86M | -$3.46M | -$4.35M | -$8.13M | -$1.18M |
| Total Working Capital Change | -$16.14M | -$18.74M | -$9.34M | -$25.86M | -$13.87M | -$28.59M | -$17.7M | -$14.69M | -$9.05M | -$2.3M | $75.03M | $7.2M | -$1.67M | -$6.21M | $3.54M | -$2.4M | $5.67M | -$8.08M | -$10.08M | -$2.14M |
| Other Non-Cash Items | -$271K | -$1.25M | $164K | $479K | $1.52M | $3.12M | $559K | $1.44M | $710K | -$257K | -$1.91M | $1.38M | $666K | $3.46M | $4.47M | -$1.35M | -$94K | $557K | $1.83M | $1.2M |
| Net Cash from Operating | $18.77M | $20.52M | $26.05M | $12.63M | $13.53M | $16.87M | $5.27M | $7.57M | $2.9M | $4.96M | $69.06M | -$3.71M | $2.09M | -$4.43M | -$8.26M | $1.7M | $12.82M | $1.36M | -$2.83M | $822K |
| Investing Activities | ||||||||||||||||||||
| Capital Expenditures | -$1.33M | -$1.3M | -$2.57M | -$3.13M | -$6.68M | -$6.79M | -$7.38M | -$5.24M | -$7.38M | -$1.11M | -$572K | -$2.56M | -$1.13M | -$2.81M | -$1.97M | -$9.53M | -$7.69M | -$667K | -$918K | -$328K |
| Acquisitions | $0 | $0 | $0 | $1.1M | $6.68M | $6.79M | $7.38M | $5.24M | $0 | $0 | $0 | -$1.43M | $1.68M | $0 | $0 | $0 | -$13.64M | $0 | $0 | $0 |
| Purchases of Investments | -$31.37M | -$91M | -$84.56M | -$3.82M | -$48.9M | -$12.86M | -$85.21M | -$86.19M | -$80.64M | -$46.55M | $0 | -$273K | -$15.28M | -$4.96M | -$23.04M | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $66.67M | $76.51M | $67.92M | $39.76M | $35.02M | $66.24M | $85.71M | $81.27M | $49.11M | $7.54M | $12.93M | $6.03M | $9.57M | $13.12M | $0 | $3.95M | $0 | $0 | $0 | $0 |
| Other Investing Activities | $10K | $133K | $87K | -$40.86M | -$6.68M | -$6.79M | -$7.38M | -$5.24M | $1.54M | -$577K | $1.67M | $4.74M | $307K | $1.32M | -$3.27M | $36K | -$10.57M | $1.32M | -$1.13M | -$183K |
| Net Cash from Investing | $33.98M | -$15.65M | -$19.11M | -$6.95M | -$20.56M | $46.6M | -$6.88M | -$10.16M | -$37.37M | -$40.71M | $14.02M | $6.5M | -$4.85M | $6.66M | -$28.27M | -$5.54M | -$31.89M | $650K | -$2.04M | -$511K |
| Financing Activities | ||||||||||||||||||||
| Debt Repaid | - | - | - | - | - | - | - | $27K | $11K | $10K | -$48K | - | $18K | $167K | $332K | $566K | $1.93M | $209K | -$65K | $669K |
| Common Stock Issuance | $1.8M | $7.1M | $4.79M | $2.99M | $10.55M | $4.4M | $6.07M | $4.29M | $5.51M | $6.6M | $1.33M | $2.4M | $504K | $30K | $49K | $557K | $384K | $76.71M | $5.12M | $5K |
| Common Stock Repurchases | -$35.62M | -$50.38M | $0 | -$26.65M | -$23.35M | $0 | $0 | -$10M | -$4.28M | -$9.38M | $0 | -$2.83M | $0 | -$4M | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$707K | $0 | $0 | $0 | $0 | -$23K | -$110K | -$150K | -$270K | $0 | $0 | -$1.38M | $0 | $24K | $16K | $130K | $484K | $574K | -$106K | $129K |
| Net Cash from Financing | -$34.53M | -$43.28M | $4.79M | -$23.67M | -$12.79M | $4.37M | $5.96M | -$5.89M | $951K | -$2.79M | $1.37M | -$1.8M | $486K | -$4.11M | -$267K | $121K | -$1.06M | $77.07M | $5.08M | -$530K |
| Forex Effect | $98K | -$52K | $33K | -$20K | -$68K | $26K | $0 | -$8K | -$57K | -$41K | -$17K | $152K | $7K | $17K | -$36K | -$51K | -$30K | -$39K | -$5K | $0 |
| Net Change in Cash | $18.32M | -$38.47M | $11.77M | -$18M | -$19.9M | $67.87M | $4.35M | -$8.49M | -$33.58M | -$38.57M | $84.43M | $1.13M | -$2.27M | -$1.86M | -$36.83M | -$3.78M | -$20.17M | $79.05M | $198K | -$219K |
| Supplementary Data | ||||||||||||||||||||
| Operating Cash Flow | $18.77M | $20.52M | $26.05M | $12.63M | $13.53M | $16.87M | $5.27M | $7.57M | $2.9M | $4.96M | $69.06M | -$3.71M | $2.09M | -$4.43M | -$8.26M | $1.7M | $12.82M | $1.36M | -$2.83M | $822K |
| Capital Expenditure | -$1.33M | -$1.3M | -$2.57M | -$3.13M | -$6.68M | -$6.79M | -$7.38M | -$5.24M | -$7.38M | -$1.11M | -$572K | -$2.56M | -$1.13M | -$2.81M | -$1.97M | -$9.53M | -$7.69M | -$667K | -$918K | -$328K |
| Free Cash Flow | $17.44M | $19.22M | $23.49M | $9.5M | $6.85M | $10.09M | -$2.11M | $2.33M | -$4.48M | $3.85M | $68.48M | -$6.28M | $956K | -$7.24M | -$10.22M | -$7.83M | $5.13M | $697K | -$3.75M | $494K |
| Cash at Beginning | $29.76M | $68.22M | $56.46M | $74.46M | $94.36M | $26.49M | $22.14M | $30.63M | $61.36M | $99.93M | $15.5M | $14.37M | $16.64M | $18.51M | $55.34M | $59.12M | $79.29M | $240K | $42K | $261K |
| Cash at End | $48.08M | $29.76M | $68.22M | $56.46M | $74.46M | $94.36M | $26.49M | $22.14M | $27.78M | $61.36M | $99.93M | $15.5M | $14.37M | $16.64M | $18.51M | $55.34M | $59.12M | $79.29M | $240K | $42K |