Energy recovery reports its first quarter 2024 financial results

San leandro, calif.--(business wire)--energy recovery, inc. (nasdaq:erii) (“energy recovery” or the “company”) today announced its financial results for the first quarter ended march 31, 2024. first quarter highlights revenue of $12.1 million, which is in-line with our february 2024 guidance. gross margin of 59.0%, a decrease of 190 bps, as compared to q1'2023, due primarily to higher manufacturing costs and an increase in inventory scrap. operating expenses of $18.1 million, an increase of 11%.
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