2020 Q4 Form 10-Q Financial Statement

#000142151720000113 Filed on October 30, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $26.43M $27.41M $24.85M
YoY Change 35.54% 10.29% 11.74%
Cost Of Revenue $8.200M $7.820M $5.430M
YoY Change 82.63% 44.01% 8.17%
Gross Profit $18.23M $19.59M $19.43M
YoY Change 21.45% 0.82% 12.83%
Gross Profit Margin 68.97% 71.48% 78.19%
Selling, General & Admin $9.120M $8.412M $8.078M
YoY Change 4.04% 4.13% 13.15%
% of Gross Profit 50.03% 42.94% 41.57%
Research & Development $5.290M $5.098M $6.620M
YoY Change -24.94% -22.99% 55.04%
% of Gross Profit 29.02% 26.02% 34.07%
Depreciation & Amortization $1.340M $1.210M $1.490M
YoY Change 39.58% -18.79% 73.26%
% of Gross Profit 7.35% 6.18% 7.67%
Operating Expenses $14.41M $13.51M $14.85M
YoY Change -9.48% -9.02% 28.42%
Operating Profit $3.820M $6.078M $4.571M
YoY Change -519.32% 32.97% -19.1%
Interest Expense $100.0K $130.0K $0.00
YoY Change -78.26%
% of Operating Profit 2.62% 2.14% 0.0%
Other Income/Expense, Net -$20.00K $105.0K $495.0K
YoY Change -50.0% -78.79% 42.65%
Pretax Income $3.900M $6.183M $5.066M
YoY Change -895.92% 22.05% -15.52%
Income Tax $450.0K $796.0K -$83.00K
% Of Pretax Income 11.54% 12.87% -1.64%
Net Earnings $3.450M $5.387M $5.149M
YoY Change -666.5% 4.62% 10.54%
Net Earnings / Revenue 13.05% 19.65% 20.72%
Basic Earnings Per Share $0.10 $0.09
Diluted Earnings Per Share $60.29K $0.10 $0.09
COMMON SHARES
Basic Shares Outstanding 56.10M shares 55.69M shares 54.98M shares
Diluted Shares Outstanding 56.47M shares 56.38M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $114.7M $104.5M $89.60M
YoY Change 34.78% 16.63% -9.31%
Cash & Equivalents $94.26M $80.15M $29.70M
Short-Term Investments $20.40M $24.40M $59.90M
Other Short-Term Assets $5.000M $3.800M $3.100M
YoY Change 25.0% 22.58% 47.62%
Inventory $11.75M $10.66M $8.977M
Prepaid Expenses
Receivables $11.79M $11.06M $20.85M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $143.2M $131.2M $123.7M
YoY Change 26.75% 6.09% 3.87%
LONG-TERM ASSETS
Property, Plant & Equipment $20.18M $20.54M $17.44M
YoY Change 7.07% 17.73% 11.56%
Goodwill $12.79M $12.80M $12.79M
YoY Change 0.0% 0.08% 0.0%
Intangibles
YoY Change
Long-Term Investments $0.00 $1.400M $7.500M
YoY Change -100.0% -81.33% 226.09%
Other Assets $988.0K $645.0K $402.0K
YoY Change 65.22% 60.45% 40.07%
Total Long-Term Assets $61.12M $63.34M $66.92M
YoY Change -19.37% -5.36% 6.99%
TOTAL ASSETS
Total Short-Term Assets $143.2M $131.2M $123.7M
Total Long-Term Assets $61.12M $63.34M $66.92M
Total Assets $204.3M $194.5M $190.6M
YoY Change 8.23% 2.07% 4.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.118M $1.951M $1.559M
YoY Change -6.21% 25.14% -65.47%
Accrued Expenses $12.30M $9.100M $8.900M
YoY Change 19.42% 2.25% 20.27%
Deferred Revenue $1.552M $1.160M $17.51M
YoY Change -90.14% -93.37% 10.11%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $15.73M $12.97M $28.60M
YoY Change -43.48% -54.64% 1.27%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $518.0K $672.0K $27.20M
YoY Change 86.33% -97.53% -37.9%
Total Long-Term Liabilities $518.0K $672.0K $27.20M
YoY Change 86.33% -97.53% 388471.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.73M $12.97M $28.60M
Total Long-Term Liabilities $518.0K $672.0K $27.20M
Total Liabilities $32.69M $30.55M $55.83M
YoY Change -38.04% -45.28% -22.47%
SHAREHOLDERS EQUITY
Retained Earnings $22.83M $19.38M -$2.944M
YoY Change -742.67% -758.32% -82.56%
Common Stock $62.00K $61.00K $60.00K
YoY Change 1.64% 1.67% 1.69%
Preferred Stock
YoY Change
Treasury Stock (at cost) $30.49M $30.49M $30.49M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 5.456M shares 5.456M shares
Shareholders Equity $171.6M $164.0M $134.8M
YoY Change
Total Liabilities & Shareholders Equity $204.3M $194.5M $190.6M
YoY Change 8.23% 2.07% 4.94%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $3.450M $5.387M $5.149M
YoY Change -666.5% 4.62% 10.54%
Depreciation, Depletion And Amortization $1.340M $1.210M $1.490M
YoY Change 39.58% -18.79% 73.26%
Cash From Operating Activities $6.520M $10.64M $500.0K
YoY Change 36.69% 2028.0% -95.62%
INVESTING ACTIVITIES
Capital Expenditures -$770.0K -$1.610M -$810.0K
YoY Change -59.04% 98.77% 65.31%
Acquisitions
YoY Change
Other Investing Activities $5.200M $7.990M $5.880M
YoY Change -176.25% 35.88% 34.86%
Cash From Investing Activities $4.430M $6.380M $5.060M
YoY Change -150.92% 26.09% 30.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.130M 130.0K 820.0K
YoY Change 404.84% -84.15% -43.06%
NET CHANGE
Cash From Operating Activities 6.520M 10.64M 500.0K
Cash From Investing Activities 4.430M 6.380M 5.060M
Cash From Financing Activities 3.130M 130.0K 820.0K
Net Change In Cash 14.08M 17.15M 6.380M
YoY Change -525.38% 168.81% -61.86%
FREE CASH FLOW
Cash From Operating Activities $6.520M $10.64M $500.0K
Capital Expenditures -$770.0K -$1.610M -$810.0K
Free Cash Flow $7.290M $12.25M $1.310M
YoY Change 9.62% 835.11% -89.0%

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CY2019Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
5125000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
23071000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
11629000 USD
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
163985000 USD
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
134754000 USD
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
163985000 USD
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
134754000 USD
us-gaap Net Income Loss
NetIncomeLoss
22934000 USD
us-gaap Net Income Loss
NetIncomeLoss
11522000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3672000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4425000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3963000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3440000 USD
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-311000 USD
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
37000 USD
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
5443000 USD
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
1198000 USD
us-gaap Product Warranty Expense
ProductWarrantyExpense
316000 USD
us-gaap Product Warranty Expense
ProductWarrantyExpense
339000 USD
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
2332000 USD
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
0 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-197000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1862000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
10617000 USD
erii Costs In Excess Of Billings On Uncompleted Contracts Or Programs1
CostsInExcessOfBillingsOnUncompletedContractsOrPrograms1
-747000 USD
erii Costs In Excess Of Billings On Uncompleted Contracts Or Programs1
CostsInExcessOfBillingsOnUncompletedContractsOrPrograms1
2993000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
506000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1885000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-295000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-383000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
656000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-94000 USD
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-2561000 USD
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-1264000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-18000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
30000 USD
erii Increase Decrease In Contract Liabilities
IncreaseDecreaseInContractLiabilities
-27602000 USD
erii Increase Decrease In Contract Liabilities
IncreaseDecreaseInContractLiabilities
-10127000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
10350000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
503000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
10573000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
3535000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
50467000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
70040000 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
12855000 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
66253000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6019000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5501000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
42166000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1821000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1260000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
5424000 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
89000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1237000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5335000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11000 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
53764000 USD
CY2019Q4 us-gaap Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
191000 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
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
80252000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
29797000 USD
us-gaap Nature Of Operations
NatureOfOperations
<span style="font-family:Arial Narrow;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%;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">Energy Recovery, Inc. and its wholly-owned subsidiaries (the “Company” or “Energy Recovery”) has, </span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">for more than 20 years, created technologies that solve complex challenges for industrial fluid flow markets worldwide</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">. The Company </span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">design</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">s </span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">and manufacture</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">s </span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">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 Narrow;font-size:10pt;color:#000000;">. 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 Narrow;font-size:10pt;color:#000000;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">®</sup></span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">, Ultra PX</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">™</sup></span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">, PX</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">®</sup></span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">, Pressure Exchanger</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">®</sup></span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">, PX Pressure Exchanger</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">®</sup></span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">, Powertrain</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">™</sup></span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">, VorTeq</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">™</sup></span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">, IsoBoost</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">®</sup></span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">, IsoGen</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">®</sup></span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">, AT</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">™</sup></span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;"> and AquaBold</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">™</sup></span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">. 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%;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;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 Narrow;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;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">The Company’s</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;"> Condensed </span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">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;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">The accompanying</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;"> Condensed </span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">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%;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">The </span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">September 30, 2020</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;"> unaudited</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;"> Condensed </span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">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 Narrow;font-size:10pt;color:#000000;">2019 Annual Report</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">”).</span></div><div style="line-height:120%;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">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%;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;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 Narrow;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;padding-left:0px;text-indent:0px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">The preparation of</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;"> Condensed </span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">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 Narrow;font-size:10pt;color:#000000;"> Condensed </span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">Consolidated Financial Statements and accompanying notes.</span></div><div style="line-height:120%;text-align:left;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">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;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">Due to the novel coronavirus (“</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">COVID-19”)</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;"> pandemic, and the impact on our customers due to the reduced demand for 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 Narrow;font-size:10pt;color:#000000;">October 30, 2020</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">, 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 Narrow;font-size:10pt;font-style:normal;font-weight:bold;text-decoration:none;">Significant Accounting Policies</span><div style="line-height:120%;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">Except for adopting new accounting pronouncements, as noted under “</span><span style="color:#000000;font-family:Arial Narrow;font-size:10pt;">Recently Adopted Accounting Pronouncements</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">,” there have been no material changes to the Company’s significant accounting policies in Note 1, “</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">Description of Business and Significant Accounting Policies</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">,” of the Notes to Consolidated Financial Statements included in the </span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">2019 Annual Report</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">.</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 Narrow;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:none;">Recently Adopted Accounting Pronouncements</span><span style="font-family:Arial Narrow;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:none;"> </span></div><div style="line-height:120%;padding-left:0px;text-indent:0px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, </span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;font-style:italic;">Measurement of Credit Losses on Financial Instruments </span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">(“ASU 2016-13”), which amends Accounting Standards Codification (“ASC”) No. 326, </span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;font-style:italic;">Financial Instruments-Credit Losses </span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">(“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 Narrow;font-size:10pt;color:#000000;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 Narrow;font-size:10pt;color:#000000;">(“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 Narrow;font-size:10pt;color:#000000;"> Condensed </span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">Consolidated Financial Statements and related disclosures. </span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">The Company will continue to actively monitor the impact of the recent COVID-19 pandemic, and </span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">the impact on our customers due to the reduced demand for oil and gas, as well as the oversupply of oil,</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;"> on expected credit losses.</span></div><div style="line-height:120%;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">In March 2020, the FASB issued ASU No. 2020-03, </span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;font-style:italic;">Codification Improvements to Financial Instruments</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;"> (“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 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 Narrow;font-size:10pt;color:#000000;"> Condensed </span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">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 Narrow;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%;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">In March 2020, the FASB issued ASU No. 2020-04, </span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;font-style:italic;">Reference Rate Reform (Topic 848) </span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">(“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 (i.e., 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 Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
7659000 USD
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 Narrow;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;padding-left:0px;text-indent:0px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">The preparation of</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;"> Condensed </span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">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 Narrow;font-size:10pt;color:#000000;"> Condensed </span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">Consolidated Financial Statements and accompanying notes.</span></div><div style="line-height:120%;text-align:left;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">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;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-left:0px;text-indent:36px;font-size:10pt;"><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">Due to the novel coronavirus (“</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">COVID-19”)</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;"> pandemic, and the impact on our customers due to the reduced demand for 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 Narrow;font-size:10pt;color:#000000;">October 30, 2020</span><span style="font-family:Arial Narrow;font-size:10pt;color:#000000;">, 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>
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
27408000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
92560000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
27408000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
92560000 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
24850000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
67441000 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
24850000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
67441000 USD
CY2020Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
11055000 USD
CY2019Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
12979000 USD
CY2020Q3 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
1198000 USD
CY2019Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
501000 USD
CY2020Q3 us-gaap Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
241000 USD
CY2020Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1439000 USD
CY2019Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
692000 USD
CY2020Q3 erii Contract With Customer Liability Deposits Current
ContractWithCustomerLiabilityDepositsCurrent
792000 USD
CY2019Q4 erii Contract With Customer Liability Deposits Current
ContractWithCustomerLiabilityDepositsCurrent
1506000 USD
CY2020Q3 erii License And Development Contract Liability Current
LicenseAndDevelopmentContractLiabilityCurrent
0 USD
CY2019Q4 erii License And Development Contract Liability Current
LicenseAndDevelopmentContractLiabilityCurrent
13846000 USD
CY2020Q3 erii Product Contract Liability Current
ProductContractLiabilityCurrent
78000 USD
CY2019Q4 erii Product Contract Liability Current
ProductContractLiabilityCurrent
78000 USD
CY2020Q3 erii Service Contract Liability Current
ServiceContractLiabilityCurrent
290000 USD
CY2019Q4 erii Service Contract Liability Current
ServiceContractLiabilityCurrent
316000 USD
CY2020Q3 erii Product And Service Contract Liability Current
ProductAndServiceContractLiabilityCurrent
368000 USD
CY2019Q4 erii Product And Service Contract Liability Current
ProductAndServiceContractLiabilityCurrent
14240000 USD
CY2020Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1160000 USD
CY2019Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
15746000 USD
CY2020Q3 erii License And Development Contract Liability Noncurrent
LicenseAndDevelopmentContractLiabilityNoncurrent
0 USD
CY2019Q4 erii License And Development Contract Liability Noncurrent
LicenseAndDevelopmentContractLiabilityNoncurrent
13048000 USD
CY2020Q3 erii Service Contract Liability Noncurrent
ServiceContractLiabilityNoncurrent
104000 USD
CY2019Q4 erii Service Contract Liability Noncurrent
ServiceContractLiabilityNoncurrent
72000 USD
CY2020Q3 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
104000 USD
CY2019Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
13120000 USD
CY2020Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1264000 USD
CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
28866000 USD
CY2020Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
890000 USD
CY2019Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1936000 USD
CY2019Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
692000 USD
CY2018Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
4083000 USD
CY2020Q3 us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
9619000 USD
CY2019Q3 us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
4773000 USD
us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
19464000 USD
us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
8371000 USD
CY2020Q3 us-gaap Contract With Customer Asset Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress
10168000 USD
CY2019Q3 us-gaap Contract With Customer Asset Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress
3927000 USD
us-gaap Contract With Customer Asset Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress
20211000 USD
us-gaap Contract With Customer Asset Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress
5378000 USD
CY2020Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1439000 USD
CY2019Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1090000 USD
CY2020Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1439000 USD
CY2019Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1090000 USD
CY2020Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1077000 USD
CY2019Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
35079000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
29750000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
10901000 USD
CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
28866000 USD
CY2018Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
42809000 USD
CY2020Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
19000 USD
CY2019Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3582000 USD
CY2020Q3 erii Contract With Customer Liability Increase Decrease From Cash Receipts
ContractWithCustomerLiabilityIncreaseDecreaseFromCashReceipts
206000 USD
CY2019Q3 erii Contract With Customer Liability Increase Decrease From Cash Receipts
ContractWithCustomerLiabilityIncreaseDecreaseFromCashReceipts
1185000 USD
erii Contract With Customer Liability Increase Decrease From Cash Receipts
ContractWithCustomerLiabilityIncreaseDecreaseFromCashReceipts
2148000 USD
erii Contract With Customer Liability Increase Decrease From Cash Receipts
ContractWithCustomerLiabilityIncreaseDecreaseFromCashReceipts
774000 USD
CY2020Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1264000 USD
CY2019Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
32682000 USD
CY2020Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1264000 USD
CY2019Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
32682000 USD
CY2020Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
4619000 USD
CY2020Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
17964000 USD
CY2020Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
15000 USD
CY2020Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
22598000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
5387000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
5149000 USD
us-gaap Net Income Loss
NetIncomeLoss
22934000 USD
us-gaap Net Income Loss
NetIncomeLoss
11522000 USD
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55692000 shares
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54975000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55573000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54594000 shares
CY2020Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
779000 shares
CY2019Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1409000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
870000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1377000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56471000 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56384000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56443000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55971000 shares
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.10
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.41
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.21
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.10
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.09
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.41
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.21
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3033000 shares
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1610000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2700000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1964000 shares
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
80149000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
26387000 USD
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
29696000 USD
CY2020Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
103000 USD
CY2019Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
101000 USD
CY2019Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
101000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
80252000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26488000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
29797000 USD
CY2020Q3 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
11425000 USD
CY2019Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
13287000 USD
CY2020Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
370000 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
308000 USD
CY2020Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
11055000 USD
CY2019Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
12979000 USD
CY2020Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
4345000 USD
CY2019Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
3742000 USD
CY2020Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
2877000 USD
CY2019Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
2141000 USD
CY2020Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
3440000 USD
CY2019Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
4434000 USD
CY2020Q3 us-gaap Inventory Net
InventoryNet
10662000 USD
CY2019Q4 us-gaap Inventory Net
InventoryNet
10317000 USD
CY2020Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
500000 USD
CY2019Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
400000 USD
CY2020Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
0 USD
CY2020Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
6270000 USD
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
6040000 USD
CY2020Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
747000 USD
CY2019Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
631000 USD
CY2020Q3 erii Other Accrued Expenses And Current Liabilities
OtherAccruedExpensesAndCurrentLiabilities
1637000 USD
CY2019Q4 erii Other Accrued Expenses And Current Liabilities
OtherAccruedExpensesAndCurrentLiabilities
3198000 USD
CY2020Q3 erii Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
8654000 USD
CY2019Q4 erii Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
9869000 USD
CY2020Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
79282000 USD
CY2020Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
206000 USD
CY2020Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
2000 USD
CY2020Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
79486000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
85780000 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
85823000 USD
CY2020Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
938000 USD
CY2020Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
2000 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
CY2020Q3 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
806000 USD
CY2019Q3 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
3535000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
10573000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
3535000 USD
CY2020Q3 us-gaap Goodwill
Goodwill
12800000 USD
CY2020Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
669000 USD
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
471000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
1940000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
1421000 USD
CY2020Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
655000 USD
CY2019Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
459000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
1763000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
1365000 USD
CY2020Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
CY2019Q3 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
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y8M12D
CY2020Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.070
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
635000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2431000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2650000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2580000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2812000 USD
CY2020Q3 erii Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
13197000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
24305000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
6294000 USD
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
18011000 USD
CY2020Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
673000 USD
CY2019Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
599000 USD
CY2019Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
631000 USD
CY2018Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
478000 USD
CY2020Q3 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
143000 USD
CY2019Q3 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
97000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
316000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
339000 USD
CY2020Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
5000 USD
CY2019Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
15000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
7000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
53000 USD
CY2020Q3 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-64000 USD
CY2019Q3 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-48000 USD
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-193000 USD
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-131000 USD
CY2020Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
747000 USD
CY2019Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
633000 USD
CY2020Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
747000 USD
CY2019Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
633000 USD
us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
5200000 USD
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
796000 USD
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-83000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5297000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1227000 USD
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.129
CY2019Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.016
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.188
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.096
CY2020Q3 erii Effective Income Tax Rate Reconciliation Excluding Discrete Tax Income Tax Items Percent
EffectiveIncomeTaxRateReconciliationExcludingDiscreteTaxIncomeTaxItemsPercent
0.134
CY2019Q3 erii Effective Income Tax Rate Reconciliation Excluding Discrete Tax Income Tax Items Percent
EffectiveIncomeTaxRateReconciliationExcludingDiscreteTaxIncomeTaxItemsPercent
0.118
erii Effective Income Tax Rate Reconciliation Excluding Discrete Tax Income Tax Items Percent
EffectiveIncomeTaxRateReconciliationExcludingDiscreteTaxIncomeTaxItemsPercent
0.186
erii Effective Income Tax Rate Reconciliation Excluding Discrete Tax Income Tax Items Percent
EffectiveIncomeTaxRateReconciliationExcludingDiscreteTaxIncomeTaxItemsPercent
0.177
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
6078000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
27481000 USD
CY2020Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
105000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
750000 USD
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
6183000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
28231000 USD
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
4571000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
11275000 USD
CY2019Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
495000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1474000 USD
CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
5066000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
12749000 USD

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