$ERII
Energy Recovery, Inc.

2020 Q2 Form 10-Q Financial Statement

#000142151720000091 Filed on July 31, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $43.61M $22.80M
YoY Change 91.3% 30.97%
Cost Of Revenue $6.550M $5.480M
YoY Change 19.53% -8.3%
Gross Profit $37.06M $17.31M
YoY Change 114.1% 51.44%
Gross Profit Margin 84.98% 75.93%
Selling, General & Admin $7.096M $7.681M
YoY Change -7.62% 13.21%
% of Gross Profit 19.15% 44.37%
Research & Development $6.352M $5.480M
YoY Change 15.91% 52.01%
% of Gross Profit 17.14% 31.66%
Depreciation & Amortization $1.490M $1.050M
YoY Change 41.9% 14.13%
% of Gross Profit 4.02% 6.07%
Operating Expenses $15.78M $13.32M
YoY Change 18.52% 26.26%
Operating Profit $21.28M $3.995M
YoY Change 432.54% -5.78%
Interest Expense $260.0K $0.00
YoY Change -100.0%
% of Operating Profit 1.22% 0.0%
Other Income/Expense, Net $237.0K $480.0K
YoY Change -50.63% 25.98%
Pretax Income $21.51M $4.475M
YoY Change 380.72% -3.16%
Income Tax $4.586M $756.0K
% Of Pretax Income 21.32% 16.89%
Net Earnings $16.93M $3.719M
YoY Change 355.12% -76.38%
Net Earnings / Revenue 38.81% 16.31%
Basic Earnings Per Share $0.30 $0.07
Diluted Earnings Per Share $0.30 $0.07
COMMON SHARES
Basic Shares Outstanding 55.61M shares 54.68M shares
Diluted Shares Outstanding 56.37M shares 56.11M shares

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $91.40M $95.20M
YoY Change -3.99% 7.45%
Cash & Equivalents $62.97M $23.33M
Short-Term Investments $28.40M $71.90M
Other Short-Term Assets $4.100M $2.200M
YoY Change 86.36% 15.79%
Inventory $9.915M $7.763M
Prepaid Expenses
Receivables $12.82M $15.20M
Other Receivables $0.00 $0.00
Total Short-Term Assets $119.1M $122.3M
YoY Change -2.64% 6.45%
LONG-TERM ASSETS
Property, Plant & Equipment $18.84M $17.38M
YoY Change 8.36% 33.85%
Goodwill $12.80M $12.79M
YoY Change 0.08% -0.08%
Intangibles
YoY Change
Long-Term Investments $5.500M $1.500M
YoY Change 266.67%
Other Assets $639.0K $308.0K
YoY Change 107.47% 8.07%
Total Long-Term Assets $66.88M $61.14M
YoY Change 9.39% 3.06%
TOTAL ASSETS
Total Short-Term Assets $119.1M $122.3M
Total Long-Term Assets $66.88M $61.14M
Total Assets $186.0M $183.5M
YoY Change 1.37% 5.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.860M $1.459M
YoY Change 27.48% -24.48%
Accrued Expenses $7.300M $6.500M
YoY Change 12.31% 18.18%
Deferred Revenue $980.0K $15.45M
YoY Change -93.66% -12.49%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.81M $24.05M
YoY Change -55.06% -5.62%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $496.0K $32.00M
YoY Change -98.45% -31.03%
Total Long-Term Liabilities $496.0K $32.00M
YoY Change -98.45% 319900.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.81M $24.05M
Total Long-Term Liabilities $496.0K $32.00M
Total Liabilities $28.56M $56.01M
YoY Change -49.01% -22.09%
SHAREHOLDERS EQUITY
Retained Earnings $13.99M -$8.093M
YoY Change -272.91% -62.43%
Common Stock $61.00K $60.00K
YoY Change 1.67% 1.69%
Preferred Stock
YoY Change
Treasury Stock (at cost) $30.49M $30.49M
YoY Change 0.0% 0.0%
Treasury Stock Shares 5.456M shares
Shareholders Equity $157.4M $127.5M
YoY Change
Total Liabilities & Shareholders Equity $186.0M $183.5M
YoY Change 1.37% 5.29%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income $16.93M $3.719M
YoY Change 355.12% -76.38%
Depreciation, Depletion And Amortization $1.490M $1.050M
YoY Change 41.9% 14.13%
Cash From Operating Activities $5.580M $5.950M
YoY Change -6.22% 27.68%
INVESTING ACTIVITIES
Capital Expenditures -$3.030M -$3.120M
YoY Change -2.88% 242.86%
Acquisitions
YoY Change
Other Investing Activities $26.89M $1.040M
YoY Change 2485.58% -107.34%
Cash From Investing Activities $23.86M -$2.070M
YoY Change -1252.66% -86.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 690.0K 2.360M
YoY Change -70.76% -140.76%
NET CHANGE
Cash From Operating Activities 5.580M 5.950M
Cash From Investing Activities 23.86M -2.070M
Cash From Financing Activities 690.0K 2.360M
Net Change In Cash 30.13M 6.240M
YoY Change 382.85% -138.49%
FREE CASH FLOW
Cash From Operating Activities $5.580M $5.950M
Capital Expenditures -$3.030M -$3.120M
Free Cash Flow $8.610M $9.070M
YoY Change -5.07% 62.84%

Facts In Submission

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us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-259000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1026000 USD
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-101000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4986000 USD
erii Costs In Excess Of Billings On Uncompleted Contracts Or Programs1
CostsInExcessOfBillingsOnUncompletedContractsOrPrograms1
-198000 USD
erii Costs In Excess Of Billings On Uncompleted Contracts Or Programs1
CostsInExcessOfBillingsOnUncompletedContractsOrPrograms1
2147000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-260000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
725000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
278000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1285000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
14000 USD
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-4012000 USD
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-2942000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
3000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
47000 USD
erii Increase Decrease In Contract Liabilities
IncreaseDecreaseInContractLiabilities
-27789000 USD
erii Increase Decrease In Contract Liabilities
IncreaseDecreaseInContractLiabilities
-7730000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-294000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
9767000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
0 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
43286000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
47993000 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
12855000 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
46549000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4410000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4685000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
35788000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3241000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1128000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4581000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
23000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
62000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1105000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4519000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-15000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
0 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
36584000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1281000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26488000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
22138000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
63072000 USD
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
23419000 USD
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
157417000 USD
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
127460000 USD
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
157417000 USD
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
127460000 USD
us-gaap Nature Of Operations
NatureOfOperations
<span style="font-family:Arial;font-size:10pt;font-style:normal;font-weight:bold;text-decoration:none;">Description of Business and Significant Accounting Policies</span><div style="line-height:120%;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">Energy Recovery, Inc. and its wholly-owned subsidiaries (the “Company” or “Energy Recovery”) has, </span><span style="font-family:Arial;font-size:10pt;">for more than 20 years, created technologies that solve complex challenges for industrial fluid flow markets worldwide</span><span style="font-family:Arial;font-size:10pt;">. The Company </span><span style="font-family:Arial;font-size:10pt;">design</span><span style="font-family:Arial;font-size:10pt;">s </span><span style="font-family:Arial;font-size:10pt;">and manufacture</span><span style="font-family:Arial;font-size:10pt;">s </span><span style="font-family:Arial;font-size:10pt;">solutions that reduce waste, improve operational efficiency, and lower the production costs of clean water and oil &amp; gas</span><span style="font-family:Arial;font-size:10pt;">. The Company’s solutions are marketed and sold in fluid flow markets such as water, oil &amp; gas and chemical processing under the trademarks ERI</span><span style="font-family:Arial;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">®</sup></span><span style="font-family:Arial;font-size:10pt;">, PX</span><span style="font-family:Arial;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">®</sup></span><span style="font-family:Arial;font-size:10pt;">, Pressure Exchanger</span><span style="font-family:Arial;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">®</sup></span><span style="font-family:Arial;font-size:10pt;">, PX Pressure Exchanger</span><span style="font-family:Arial;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">®</sup></span><span style="font-family:Arial;font-size:10pt;">, VorTeq</span><span style="font-family:Arial;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">™</sup></span><span style="font-family:Arial;font-size:10pt;">, IsoBoost</span><span style="font-family:Arial;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">®</sup></span><span style="font-family:Arial;font-size:10pt;">, IsoGen</span><span style="font-family:Arial;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">®</sup></span><span style="font-family:Arial;font-size:10pt;">, AT</span><span style="font-family:Arial;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">™</sup></span><span style="font-family:Arial;font-size:10pt;"> and AquaBold</span><span style="font-family:Arial;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">™</sup></span><span style="font-family:Arial;font-size:10pt;">. The Company owns, manufactures and/or develops its solutions, in whole or in part, in the United States of America (“U.S.”).</span></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:left;padding-left:0px;text-indent:0px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;font-style:normal;font-weight:bold;text-decoration:none;">Basis of Presentation</span></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">The Company’s</span><span style="font-family:Arial;font-size:10pt;"> Condensed </span><span style="font-family:Arial;font-size:10pt;">Consolidated Financial Statements include the accounts of the Company and its wholly-owned subsidiaries. All significant inter-company accounts and transactions have been eliminated in consolidation.</span></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">The accompanying</span><span style="font-family:Arial;font-size:10pt;"> Condensed </span><span style="font-family:Arial;font-size:10pt;">Consolidated Financial Statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in the financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to such rules and regulations. The December 31, 2019 Condensed Consolidated Balance Sheet was derived from audited financial statements and may not include all disclosures required by GAAP; however, the Company believes that the disclosures are adequate to make the information presented not misleading. </span></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">The </span><span style="font-family:Arial;font-size:10pt;color:#000000;">June 30, 2020</span><span style="font-family:Arial;font-size:10pt;"> unaudited Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and the notes thereto for the fiscal year ended December 31, 2019 included in the Company’s Annual Report on Form 10-K filed with the SEC on March 6, 2020, as amended on June 10, 2020 (the “</span><span style="font-family:Arial;font-size:10pt;">2019 Annual Report</span><span style="font-family:Arial;font-size:10pt;">”).</span></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">In the opinion of management, all adjustments consisting of normal recurring adjustments that are necessary to present fairly the financial position, results of operations and cash flows for the interim periods have been made. The results of operations for the interim periods are not necessarily indicative of the operating results for the full fiscal year or any future periods.</span></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:left;padding-left:0px;text-indent:0px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;font-style:normal;font-weight:bold;text-decoration:none;">Use of Estimates</span></div><div style="line-height:120%;text-align:left;text-indent:0px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">The preparation of</span><span style="font-family:Arial;font-size:10pt;"> Condensed </span><span style="font-family:Arial;font-size:10pt;">Consolidated Financial Statements, in conformity with U.S. GAAP, requires the Company’s management to make judgments, assumptions and estimates that affect the amounts reported in the</span><span style="font-family:Arial;font-size:10pt;"> Condensed </span><span style="font-family:Arial;font-size:10pt;">Consolidated Financial Statements and accompanying notes.</span></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">The accounting policies that reflect the Company’s more significant estimates and judgments and that the Company believes are the most critical to aid in fully understanding and evaluating its reported financial results are revenue recognition; capitalization of research and development (“R&amp;D”) assets; valuation of stock options; valuation and impairment of goodwill and acquired intangible assets; valuation adjustments for excess and obsolete inventory; deferred taxes and valuation allowances on deferred tax assets; and evaluation and measurement of contingencies. Those estimates could change, and as a result, actual results could differ materially from those estimates.</span></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">Due to the novel coronavirus (“</span><span style="font-family:Arial;font-size:10pt;color:#212529;">COVID-19”)</span><span style="font-family:Arial;font-size:10pt;"> pandemic, the reduced demand of oil and gas, as well as the oversupply of oil, there has been uncertainty and disruption in the global economy and financial markets. The Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or a revision of the carrying value of its assets or liabilities as of </span><span style="font-family:Arial;font-size:10pt;">July 31, 2020</span><span style="font-family:Arial;font-size:10pt;">, the date of issuance of this Quarterly Report on Form 10-Q. These estimates may change, as new events occur and additional information is obtained. Actual results could differ materially from these estimates under different assumptions or conditions. The Company undertakes no obligation to update publicly these estimates for any reason after the date of this Quarterly Report on Form 10-Q, except as required by law.</span></div><span style="font-family:Arial;font-size:10pt;font-style:normal;font-weight:bold;text-decoration:none;">Significant Accounting Policies</span><div style="line-height:120%;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">Except for adopting new accounting pronouncements, as noted under “</span><span style="font-family:Arial;">Recently Adopted Accounting Pronouncements</span><span style="font-family:Arial;font-size:10pt;">,” there have been no material changes to the Company’s significant accounting policies in Note 1, “</span><span style="font-family:Arial;font-size:10pt;">Description of Business and Significant Accounting Policies</span><span style="font-family:Arial;font-size:10pt;">,” of the Notes to Consolidated Financial Statements included in the </span><span style="font-family:Arial;font-size:10pt;">2019 Annual Report</span><span style="font-family:Arial;font-size:10pt;">.</span></div><div style="line-height:120%;padding-bottom:0px;padding-top:0px;padding-left:12px;text-indent:0px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:none;">Recently Adopted Accounting Pronouncements</span><span style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:none;"> </span></div><div style="line-height:120%;padding-left:24px;text-indent:0px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, </span><span style="font-family:Arial;font-size:10pt;font-style:italic;">Measurement of Credit Losses on Financial Instruments </span><span style="font-family:Arial;font-size:10pt;">(“ASU 2016-13”), which amends Accounting Standards Codification (“ASC”) 326, </span><span style="font-family:Arial;font-size:10pt;font-style:italic;">Financial Instruments-Credit Losses </span><span style="font-family:Arial;font-size:10pt;">(“ASC 326”). Subsequent to the issuance of ASU 2016-13, ASC 326 was amended by various updates that amend and clarify the impact and implementation of the aforementioned update. The new guidance introduces the current expected credit loss (“CECL”) model, which requires an entity to record an allowance for credit losses for certain financial instruments and financial assets, including trade receivables, based on expected losses rather than incurred losses. Under this update, on initial recognition and at each reporting period, an entity is required to recognize an allowance that reflects the entity’s current estimate of credit losses expected to be incurred over the life of the financial instrument. In February 2020, the FASB issued ASU No. 2020-02, </span><span style="font-family:Arial;font-size:10pt;font-style:italic;">Financial Instruments-Credit Losses (Topic 326) and Leases (Topic 842)-Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No. 2016-02, Leases (Topic 842) </span><span style="font-family:Arial;font-size:10pt;">(“ASU 2020-02”), which amended the language in Subtopic 326-20 and addressed questions primarily regarding documentation and company policies. ASU 2016-13 and its amendments are effective for the Company for interim and annual periods in fiscal years beginning after December 15, 2019, on a modified retrospective basis. The adoption of ASU 2016-13 and its amendments on January 1, 2020 did not have a material impact on the Company’s</span><span style="font-family:Arial;font-size:10pt;"> Condensed </span><span style="font-family:Arial;font-size:10pt;">Consolidated Financial Statements and related disclosures. </span><span style="font-family:Arial;font-size:10pt;color:#212529;">The Company will continue to actively monitor the impact of the recent COVID-19 pandemic, </span><span style="font-family:Arial;font-size:10pt;">the reduced demand of oil and gas, as well as the oversupply of oil,</span><span style="font-family:Arial;font-size:10pt;color:#212529;"> on expected credit losses.</span></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">In March 2020, the FASB issued ASU No. 2020-03, </span><span style="font-family:Arial;font-size:10pt;font-style:italic;">Codification Improvements to Financial Instruments</span><span style="font-family:Arial;font-size:10pt;"> (“ASU 2020-03”). This ASU improves and clarifies various financial instruments topics, including the CECL standard issued in 2016. ASU 2020-03 included seven different issues that describe the areas of improvement and the related amendments to GAAP, intended to make the standards easier to understand and apply by eliminating inconsistencies and providing clarifications. The amendments have different effective dates. The adoption of ASU 2020-03 on January 1, 2020 did not have a material impact on the Company’s</span><span style="font-family:Arial;font-size:10pt;"> Condensed </span><span style="font-family:Arial;font-size:10pt;">Consolidated Financial Statements and related disclosures.</span></div><div style="line-height:120%;padding-bottom:0px;padding-top:0px;padding-left:12px;text-indent:0px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:none;">Recently Issued Accounting Pronouncements Not Yet Adopted</span></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">In March 2020, the FASB issued ASU No. 2020-04, </span><span style="font-family:Arial;font-size:10pt;font-style:italic;">Reference Rate Reform (Topic 848) </span><span style="font-family:Arial;font-size:10pt;">(“ASU 2020-04”), which provided optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by the discontinuation of the London Interbank Offered Rate (“LIBOR”) or by another reference rate expected to be discontinued. Entities may apply the provisions of the new standard as of the beginning of the reporting period when the election is made (</span><span style="font-family:Arial;font-size:10pt;font-style:italic;">i.e.,</span><span style="font-family:Arial;font-size:10pt;"> as early as the first quarter of 2020). Unlike other topics, the provisions of this update are only available until December 31, 2022, when the reference rate replacement activity is expected to have been completed. The Company is currently evaluating the impact of the provisions of ASU 2020-04 on its financial condition, results of operation, and cash flows.</span></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:left;padding-left:0px;text-indent:0px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;font-style:normal;font-weight:bold;text-decoration:none;">Use of Estimates</span></div><div style="line-height:120%;text-align:left;text-indent:0px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">The preparation of</span><span style="font-family:Arial;font-size:10pt;"> Condensed </span><span style="font-family:Arial;font-size:10pt;">Consolidated Financial Statements, in conformity with U.S. GAAP, requires the Company’s management to make judgments, assumptions and estimates that affect the amounts reported in the</span><span style="font-family:Arial;font-size:10pt;"> Condensed </span><span style="font-family:Arial;font-size:10pt;">Consolidated Financial Statements and accompanying notes.</span></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">The accounting policies that reflect the Company’s more significant estimates and judgments and that the Company believes are the most critical to aid in fully understanding and evaluating its reported financial results are revenue recognition; capitalization of research and development (“R&amp;D”) assets; valuation of stock options; valuation and impairment of goodwill and acquired intangible assets; valuation adjustments for excess and obsolete inventory; deferred taxes and valuation allowances on deferred tax assets; and evaluation and measurement of contingencies. Those estimates could change, and as a result, actual results could differ materially from those estimates.</span></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">Due to the novel coronavirus (“</span><span style="font-family:Arial;font-size:10pt;color:#212529;">COVID-19”)</span><span style="font-family:Arial;font-size:10pt;"> pandemic, the reduced demand of oil and gas, as well as the oversupply of oil, there has been uncertainty and disruption in the global economy and financial markets. The Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or a revision of the carrying value of its assets or liabilities as of </span><span style="font-family:Arial;font-size:10pt;">July 31, 2020</span><span style="font-family:Arial;font-size:10pt;">, the date of issuance of this Quarterly Report on Form 10-Q. These estimates may change, as new events occur and additional information is obtained. Actual results could differ materially from these estimates under different assumptions or conditions. The Company undertakes no obligation to update publicly these estimates for any reason after the date of this Quarterly Report on Form 10-Q, except as required by law.</span></div>
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
43608000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
65152000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
43608000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
65152000 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
22796000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
42591000 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
22796000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
42591000 USD
CY2020Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
12816000 USD
CY2019Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
12979000 USD
CY2020Q2 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
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ContractWithCustomerAssetNetCurrent
501000 USD
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ContractWithCustomerAssetNetNoncurrent
0 USD
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ContractWithCustomerAssetNetNoncurrent
191000 USD
CY2020Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
890000 USD
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ContractWithCustomerAssetNet
692000 USD
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ContractWithCustomerLiabilityDepositsCurrent
620000 USD
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ContractWithCustomerLiabilityDepositsCurrent
1506000 USD
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0 USD
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LicenseAndDevelopmentContractLiabilityCurrent
13846000 USD
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79000 USD
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ProductContractLiabilityCurrent
78000 USD
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ServiceContractLiabilityCurrent
281000 USD
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ServiceContractLiabilityCurrent
316000 USD
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ProductAndServiceContractLiabilityCurrent
360000 USD
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ProductAndServiceContractLiabilityCurrent
14240000 USD
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ContractWithCustomerLiabilityCurrent
980000 USD
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ContractWithCustomerLiabilityCurrent
15746000 USD
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LicenseAndDevelopmentContractLiabilityNoncurrent
0 USD
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LicenseAndDevelopmentContractLiabilityNoncurrent
13048000 USD
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ServiceContractLiabilityNoncurrent
97000 USD
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ServiceContractLiabilityNoncurrent
72000 USD
CY2020Q2 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
97000 USD
CY2019Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
13120000 USD
CY2020Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1077000 USD
CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
28866000 USD
CY2020Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
936000 USD
CY2019Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1107000 USD
CY2019Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
692000 USD
CY2018Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
4083000 USD
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ContractWithCustomerAssetReclassifiedToReceivable
4266000 USD
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ContractWithCustomerAssetReclassifiedToReceivable
0 USD
us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
9845000 USD
us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
3598000 USD
CY2020Q2 us-gaap Contract With Customer Asset Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress
4220000 USD
CY2019Q2 us-gaap Contract With Customer Asset Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress
829000 USD
us-gaap Contract With Customer Asset Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress
10043000 USD
us-gaap Contract With Customer Asset Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress
1451000 USD
CY2020Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
890000 USD
CY2019Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1936000 USD
CY2020Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
890000 USD
CY2019Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1936000 USD
CY2020Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
25314000 USD
CY2019Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
38887000 USD
CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
28866000 USD
CY2018Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
42809000 USD
CY2020Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
25751000 USD
CY2019Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3583000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
29731000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
7319000 USD
CY2020Q2 erii Contract With Customer Liability Increase Decrease From Cash Receipts
ContractWithCustomerLiabilityIncreaseDecreaseFromCashReceipts
1514000 USD
CY2019Q2 erii Contract With Customer Liability Increase Decrease From Cash Receipts
ContractWithCustomerLiabilityIncreaseDecreaseFromCashReceipts
-225000 USD
CY2019Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
35079000 USD
erii Contract With Customer Liability Increase Decrease From Cash Receipts
ContractWithCustomerLiabilityIncreaseDecreaseFromCashReceipts
1942000 USD
erii Contract With Customer Liability Increase Decrease From Cash Receipts
ContractWithCustomerLiabilityIncreaseDecreaseFromCashReceipts
-411000 USD
CY2020Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1077000 USD
CY2019Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
35079000 USD
CY2020Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1077000 USD
CY2020Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
15078000 USD
CY2020Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
10363000 USD
CY2020Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
15000 USD
CY2020Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
25456000 USD
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NetIncomeLoss
16926000 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
3719000 USD
us-gaap Net Income Loss
NetIncomeLoss
17547000 USD
us-gaap Net Income Loss
NetIncomeLoss
6373000 USD
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55614000 shares
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54681000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55513000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54400000 shares
CY2020Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
757000 shares
CY2019Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1429000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
925000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1364000 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56371000 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56110000 shares
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.31
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56438000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55764000 shares
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.30
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.07
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.32
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.12
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.30
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2893000 shares
CY2019Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1650000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1989000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2197000 shares
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
26387000 USD
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
23331000 USD
CY2020Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
102000 USD
CY2019Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
101000 USD
CY2019Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
88000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
63072000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26488000 USD
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
23419000 USD
CY2020Q2 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
13186000 USD
CY2019Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
13287000 USD
CY2020Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
370000 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
308000 USD
CY2020Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
12816000 USD
CY2019Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
12979000 USD
CY2020Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
3872000 USD
CY2019Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
3742000 USD
CY2020Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
2737000 USD
CY2019Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
2141000 USD
CY2020Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
3306000 USD
CY2019Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
4434000 USD
CY2020Q2 us-gaap Inventory Net
InventoryNet
9915000 USD
CY2019Q4 us-gaap Inventory Net
InventoryNet
10317000 USD
CY2020Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
500000 USD
CY2019Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
400000 USD
CY2020Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3978000 USD
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
6040000 USD
CY2020Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
673000 USD
CY2019Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
631000 USD
CY2020Q2 erii Other Accrued Expenses And Current Liabilities
OtherAccruedExpensesAndCurrentLiabilities
2120000 USD
CY2019Q4 erii Other Accrued Expenses And Current Liabilities
OtherAccruedExpensesAndCurrentLiabilities
3198000 USD
CY2020Q2 erii Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
6771000 USD
CY2019Q4 erii Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
9869000 USD
CY2020Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
48094000 USD
CY2019Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
11668000 USD
CY2020Q2 us-gaap Short Term Investments
ShortTermInvestments
28409000 USD
CY2019Q4 us-gaap Short Term Investments
ShortTermInvestments
58736000 USD
CY2020Q2 us-gaap Long Term Investments
LongTermInvestments
5510000 USD
CY2019Q4 us-gaap Long Term Investments
LongTermInvestments
15419000 USD
CY2020Q2 erii Cash Equivalents And Investments
CashEquivalentsAndInvestments
82013000 USD
CY2019Q4 erii Cash Equivalents And Investments
CashEquivalentsAndInvestments
85823000 USD
CY2020Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
33657000 USD
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
263000 USD
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
33919000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
74112000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
59000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
16000 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
74155000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
28219000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
28409000 USD
CY2020Q2 erii Debt Securities Available For Sale Maturity Allocated And Single Maturity Date Greater Than One Year Amortized Cost
DebtSecuritiesAvailableForSaleMaturityAllocatedAndSingleMaturityDateGreaterThanOneYearAmortizedCost
5438000 USD
CY2020Q2 erii Debt Securities Available For Sale Maturity Allocated And Single Maturity Date Greater Than One Year Fair Value
DebtSecuritiesAvailableForSaleMaturityAllocatedAndSingleMaturityDateGreaterThanOneYearFairValue
5510000 USD
CY2020Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
33657000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
33919000 USD
CY2020Q2 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0 USD
CY2020Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
900000 USD
CY2020Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
1000 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
20781000 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
16000 USD
CY2020Q2 us-gaap Goodwill
Goodwill
12800000 USD
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
668000 USD
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
473000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
1271000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
950000 USD
CY2020Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
618000 USD
CY2019Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
459000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
1108000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
906000 USD
CY2020Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
CY2019Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6384000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y10M24D
CY2020Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.070
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1290000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2431000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2650000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2580000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2812000 USD
CY2020Q2 erii Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
13197000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
24960000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
6609000 USD
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
18351000 USD
CY2020Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
665000 USD
CY2019Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
571000 USD
CY2019Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
631000 USD
CY2018Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
478000 USD
CY2020Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
75000 USD
CY2019Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
89000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
173000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
242000 USD
CY2020Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1000 USD
CY2019Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
25000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
2000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
38000 USD
CY2020Q2 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-66000 USD
CY2019Q2 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-36000 USD
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-129000 USD
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-83000 USD
CY2020Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
673000 USD
CY2019Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
599000 USD
CY2020Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
673000 USD
CY2019Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
599000 USD
us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
8700000 USD
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4586000 USD
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
756000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4501000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1310000 USD
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.213
CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.169
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.204
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.171
CY2020Q2 erii Effective Income Tax Rate Reconciliation Excluding Discrete Tax Income Tax Items Percent
EffectiveIncomeTaxRateReconciliationExcludingDiscreteTaxIncomeTaxItemsPercent
0.201
CY2019Q2 erii Effective Income Tax Rate Reconciliation Excluding Discrete Tax Income Tax Items Percent
EffectiveIncomeTaxRateReconciliationExcludingDiscreteTaxIncomeTaxItemsPercent
0.218
erii Effective Income Tax Rate Reconciliation Excluding Discrete Tax Income Tax Items Percent
EffectiveIncomeTaxRateReconciliationExcludingDiscreteTaxIncomeTaxItemsPercent
0.200
erii Effective Income Tax Rate Reconciliation Excluding Discrete Tax Income Tax Items Percent
EffectiveIncomeTaxRateReconciliationExcludingDiscreteTaxIncomeTaxItemsPercent
0.216
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
21275000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
21403000 USD
CY2020Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
237000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
645000 USD
CY2020Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
21512000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
22048000 USD
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
3995000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
6704000 USD
CY2019Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
480000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
979000 USD
CY2019Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
4475000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
7683000 USD

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