$ERII
Energy Recovery, Inc.

2021 Q2 Form 10-Q Financial Statement

#000142151721000110 Filed on August 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $20.61M $43.61M
YoY Change -52.74% 91.3%
Cost Of Revenue $7.181M $6.550M
YoY Change 9.63% 19.53%
Gross Profit $13.43M $37.06M
YoY Change -63.77% 114.1%
Gross Profit Margin 65.15% 84.98%
Selling, General & Admin $8.715M $7.096M
YoY Change 22.82% -7.62%
% of Gross Profit 64.91% 19.15%
Research & Development $4.424M $6.352M
YoY Change -30.35% 15.91%
% of Gross Profit 32.95% 17.14%
Depreciation & Amortization $1.383M $1.490M
YoY Change -7.18% 41.9%
% of Gross Profit 10.3% 4.02%
Operating Expenses $13.14M $15.78M
YoY Change -16.76% 18.52%
Operating Profit $287.0K $21.28M
YoY Change -98.65% 432.54%
Interest Expense $51.00K $260.0K
YoY Change -80.38%
% of Operating Profit 17.77% 1.22%
Other Income/Expense, Net $39.00K $237.0K
YoY Change -83.54% -50.63%
Pretax Income $326.0K $21.51M
YoY Change -98.48% 380.72%
Income Tax -$743.0K $4.586M
% Of Pretax Income -227.91% 21.32%
Net Earnings $1.069M $16.93M
YoY Change -93.68% 355.12%
Net Earnings / Revenue 5.19% 38.81%
Basic Earnings Per Share $0.02 $0.30
Diluted Earnings Per Share $0.02 $0.30
COMMON SHARES
Basic Shares Outstanding 57.25M shares 55.61M shares
Diluted Shares Outstanding 59.00M shares 56.37M shares

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $120.7M $91.40M
YoY Change 32.05% -3.99%
Cash & Equivalents $103.3M $62.97M
Short-Term Investments $17.39M $28.40M
Other Short-Term Assets $3.729M $4.100M
YoY Change -9.05% 86.36%
Inventory $15.29M $9.915M
Prepaid Expenses
Receivables $7.599M $12.82M
Other Receivables $0.00 $0.00
Total Short-Term Assets $147.8M $119.1M
YoY Change 24.14% -2.64%
LONG-TERM ASSETS
Property, Plant & Equipment $20.44M $18.84M
YoY Change 8.52% 8.36%
Goodwill $12.79M $12.80M
YoY Change -0.08% 0.08%
Intangibles
YoY Change
Long-Term Investments $5.500M
YoY Change 266.67%
Other Assets $365.0K $639.0K
YoY Change -42.88% 107.47%
Total Long-Term Assets $61.50M $66.88M
YoY Change -8.04% 9.39%
TOTAL ASSETS
Total Short-Term Assets $147.8M $119.1M
Total Long-Term Assets $61.50M $66.88M
Total Assets $209.3M $186.0M
YoY Change 12.57% 1.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.278M $1.860M
YoY Change 22.47% 27.48%
Accrued Expenses $9.061M $7.300M
YoY Change 24.12% 12.31%
Deferred Revenue $1.117M $980.0K
YoY Change 13.98% -93.66%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $13.27M $10.81M
YoY Change 22.74% -55.06%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $571.0K $496.0K
YoY Change 15.12% -98.45%
Total Long-Term Liabilities $571.0K $496.0K
YoY Change 15.12% -98.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.27M $10.81M
Total Long-Term Liabilities $571.0K $496.0K
Total Liabilities $29.52M $28.56M
YoY Change 3.37% -49.01%
SHAREHOLDERS EQUITY
Retained Earnings $30.77M $13.99M
YoY Change 119.87% -272.91%
Common Stock $63.00K $61.00K
YoY Change 3.28% 1.67%
Preferred Stock
YoY Change
Treasury Stock (at cost) $42.04M $30.49M
YoY Change 37.9% 0.0%
Treasury Stock Shares
Shareholders Equity $179.8M $157.4M
YoY Change
Total Liabilities & Shareholders Equity $209.3M $186.0M
YoY Change 12.57% 1.37%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $1.069M $16.93M
YoY Change -93.68% 355.12%
Depreciation, Depletion And Amortization $1.383M $1.490M
YoY Change -7.18% 41.9%
Cash From Operating Activities $11.49M $5.580M
YoY Change 105.93% -6.22%
INVESTING ACTIVITIES
Capital Expenditures -$1.819M -$3.030M
YoY Change -39.97% -2.88%
Acquisitions
YoY Change
Other Investing Activities -$2.888M $26.89M
YoY Change -110.74% 2485.58%
Cash From Investing Activities -$4.707M $23.86M
YoY Change -119.73% -1252.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -8.917M 690.0K
YoY Change -1392.32% -70.76%
NET CHANGE
Cash From Operating Activities 11.49M 5.580M
Cash From Investing Activities -4.707M 23.86M
Cash From Financing Activities -8.917M 690.0K
Net Change In Cash -2.133M 30.13M
YoY Change -107.08% 382.85%
FREE CASH FLOW
Cash From Operating Activities $11.49M $5.580M
Capital Expenditures -$1.819M -$3.030M
Free Cash Flow $13.31M $8.610M
YoY Change 54.59% -5.07%

Facts In Submission

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us-gaap Nature Of Operations
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<div style="margin-top:6pt;padding-left:45pt;text-indent:-45pt"><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Note 1 — Description of Business and Significant Accounting Policies</span></div><div style="text-align:justify;text-indent:27pt"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Energy Recovery, Inc. and its wholly-owned subsidiaries (the “Company” or “Energy Recovery”) create technologies that solve complex challenges for industrial fluid-flow markets worldwide. Building on the Company’s pressure exchanger technology platform, the Company designs and manufactures solutions that improve operational efficiency by reducing waste, energy consumption and costs across a range of industrial processes. What began as a game-changing invention for desalination has grown into a global business advancing the environmental sustainability of the Company’s customers’ operations in multiple industries. The Company’s solutions are marketed, sold in, or developed for, the fluid-flow and gas markets, such as water, industrial waste, oil &amp; gas, chemical processing and refrigeration, under the trademarks ERI</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, Ultra PX</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">™</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, PX</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, Pressure Exchanger</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, PX Pressure Exchanger</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">® </span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(“PX”), PX PowerTrain</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">™</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, VorTeq</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">™</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, IsoBoost</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, AT</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">™</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, AquaBold</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">™</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, and PX G1300</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">™</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. 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="text-align:justify"><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Basis of Presentation</span></div><div style="text-align:justify;text-indent:27pt"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Condensed Consolidated Financial Statements include the accounts of Energy Recovery, Inc. and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.</span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying Condensed Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “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, 2020 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="text-align:justify;text-indent:27pt"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The June 30, 2021 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, 2020 included in the Company’s Annual Report on Form 10-K filed with the SEC on March 12, 2021 (the “2020 Annual Report”).</span></div><div style="text-align:justify;text-indent:27pt"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reclassifications</span></div><div style="text-align:justify;text-indent:27pt"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior period amounts have been reclassified in the Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Cash Flows, and certain notes to the Condensed Consolidated Financial Statements, to conform to the current period presentation.</span></div><div><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of Condensed Consolidated Financial Statements, in conformity with GAAP, requires the Company’s management to make judgments, assumptions and estimates that affect the amounts reported in the Condensed Consolidated Financial Statements and accompanying notes.</span></div><div style="text-align:justify;text-indent:27pt"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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; valuation of stock options; valuation and impairment of goodwill; 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>Due to the novel coronavirus (“COVID-19”) pandemic, and the impact on the Company’s customers, 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 August 6, 2021, 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.Significant Accounting PoliciesExcept for adopting new accounting pronouncements, as noted under “Recently Adopted Accounting Pronouncements,” there have been no material changes to the Company’s significant accounting policies in Note 1, “Description of Business and Significant Accounting Policies,” of the Notes to Consolidated Financial Statements included in Item 8, “Financial Statements and Supplementary Data,” in the 2020 Annual Report.Recently Adopted Accounting Pronouncements <span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, </span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (“ASU 2019-12”), which simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. The new standard is effective for interim and annual periods beginning after December 15, 2020. The Company adopted ASU 2019-12 on January 1, 2021. The adoption of ASU 2019-12 did not have a material impact on the Company’s consolidated financial condition, results of operations, and cash flows.</span>Recently Issued Accounting Pronouncements Not Yet Adopted<span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2020, the FASB issued ASU No. 2020-04, </span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Reference Rate Reform (Topic 848) </span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(“ASU 2020-04”), which provided optional expedients and exceptions for applying 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. The FASB later issued ASU No. 2021-01, </span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Reference Rate Reform (Topic 848): Scope, to clarify the scope of Topic 848 so that derivatives affected by the discounting transition are explicitly eligible for certain optional expedients and exceptions in Topic 848</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (“ASU 2021-01”). Entities may apply the provisions of the new standards 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. An entity may elect to apply amendments prospectively through December 31, 2022. The optional expedients were available to be used upon issuance of this guidance but the Company has not yet applied the guidance because the Company has not yet modified its existing contract for reference rate reform. The Company does not expect the provisions of ASU 2020-04 or ASU 2021-01 to have a material impact on its financial condition, results of operation, and cash flows.</span>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reclassifications</span></div><div style="text-align:justify;text-indent:27pt"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior period amounts have been reclassified in the Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Cash Flows, and certain notes to the Condensed Consolidated Financial Statements, to conform to the current period presentation.</span></div>
us-gaap Use Of Estimates
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<div><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of Condensed Consolidated Financial Statements, in conformity with GAAP, requires the Company’s management to make judgments, assumptions and estimates that affect the amounts reported in the Condensed Consolidated Financial Statements and accompanying notes.</span></div><div style="text-align:justify;text-indent:27pt"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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; valuation of stock options; valuation and impairment of goodwill; 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>Due to the novel coronavirus (“COVID-19”) pandemic, and the impact on the Company’s customers, 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 August 6, 2021, 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.
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us-gaap Earnings Per Share Diluted
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103405000 USD
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CashAndCashEquivalentsAtCarryingValue
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CashAndCashEquivalentsAtCarryingValue
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CY2020Q2 us-gaap Restricted Cash Noncurrent
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
63072000 USD
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5161000 USD
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InventoryRawMaterialsNetOfReserves
4260000 USD
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InventoryWorkInProcessNetOfReserves
2740000 USD
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InventoryWorkInProcessNetOfReserves
2360000 USD
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InventoryFinishedGoodsNetOfReserves
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CY2020Q4 us-gaap Inventory Net
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11748000 USD
CY2021Q2 us-gaap Inventory Valuation Reserves
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600000 USD
CY2020Q4 us-gaap Inventory Valuation Reserves
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500000 USD
CY2021Q2 us-gaap Contract With Customer Asset Net Current
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536000 USD
CY2021Q2 us-gaap Goodwill
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12790000 USD
CY2020Q4 us-gaap Goodwill
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12790000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
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43000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
49000 USD
CY2021Q2 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
12833000 USD
CY2020Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
12839000 USD
us-gaap Weighted Average Number Of Shares Outstanding Basic
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57066000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55513000 shares
CY2021Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1746000 shares
CY2020Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
757000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1756000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
925000 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
58999000 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56371000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
58822000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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56438000 shares
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0.02
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0.30
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EarningsPerShareBasic
0.14
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EarningsPerShareBasic
0.32
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0.02
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EarningsPerShareDiluted
0.30
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
CY2021Q2 us-gaap Employee Related Liabilities Current
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5614000 USD
CY2020Q4 us-gaap Employee Related Liabilities Current
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8400000 USD
CY2021Q2 us-gaap Product Warranty Accrual Classified Current
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809000 USD
CY2020Q4 us-gaap Product Warranty Accrual Classified Current
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760000 USD
CY2021Q2 erii Other Accrued Expenses And Current Liabilities
OtherAccruedExpensesAndCurrentLiabilities
1974000 USD
CY2020Q4 erii Other Accrued Expenses And Current Liabilities
OtherAccruedExpensesAndCurrentLiabilities
2656000 USD
CY2021Q2 erii Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
8397000 USD
CY2020Q4 erii Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
11816000 USD
CY2021Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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79611000 USD
CY2021Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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21000 USD
CY2021Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
14000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
79618000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
79454000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
124000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
0 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
79578000 USD
CY2021Q2 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
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0 USD
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
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15383000 USD
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
16090000 USD
CY2021Q2 us-gaap Operating Lease Liability Current
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1473000 USD
CY2020Q4 us-gaap Operating Lease Liability Current
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1243000 USD
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OperatingLeaseLiabilityNoncurrent
15682000 USD
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
16443000 USD
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
17155000 USD
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
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OperatingLeaseCost
642000 USD
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
668000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
1285000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
1271000 USD
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OperatingLeasePayments
647000 USD
CY2020Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
618000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
1136000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
1108000 USD
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0 USD
CY2020Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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0 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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0 USD
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6384000 USD
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y10M24D
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0.070
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1295000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2650000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2580000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2812000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2736000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
10461000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
22534000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
5379000 USD
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
17155000 USD
CY2021Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
811000 USD
CY2021Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
809000 USD
CY2020Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
665000 USD
CY2020Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
760000 USD
CY2019Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
631000 USD
CY2021Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
81000 USD
CY2020Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
75000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
208000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
173000 USD
CY2021Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
13000 USD
CY2020Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
13000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
2000 USD
CY2021Q2 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
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-70000 USD
CY2020Q2 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-66000 USD
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-146000 USD
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-129000 USD
CY2021Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
809000 USD
CY2020Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
673000 USD
CY2020Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
673000 USD
us-gaap Long Term Purchase Commitment Amount
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6700000 USD
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-743000 USD
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4586000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1383000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4501000 USD
CY2021Q2 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
728000 USD
CY2020Q2 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
-272000 USD
us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
2355000 USD
us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
-82000 USD
CY2021Q2 erii Income Tax Expense Benefit Excluding Discrete Items
IncomeTaxExpenseBenefitExcludingDiscreteItems
-15000 USD
erii Income Tax Expense Benefit Excluding Discrete Items
IncomeTaxExpenseBenefitExcludingDiscreteItems
4419000 USD
CY2020Q2 erii Income Tax Expense Benefit Excluding Discrete Items
IncomeTaxExpenseBenefitExcludingDiscreteItems
4314000 USD
erii Income Tax Expense Benefit Excluding Discrete Items
IncomeTaxExpenseBenefitExcludingDiscreteItems
972000 USD
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-2.279
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.213
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.211
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.204
CY2021Q2 erii Effective Income Tax Rate Reconciliation Excluding Discrete Tax Income Tax Items Percent
EffectiveIncomeTaxRateReconciliationExcludingDiscreteTaxIncomeTaxItemsPercent
-0.051
CY2020Q2 erii Effective Income Tax Rate Reconciliation Excluding Discrete Tax Income Tax Items Percent
EffectiveIncomeTaxRateReconciliationExcludingDiscreteTaxIncomeTaxItemsPercent
0.201
erii Effective Income Tax Rate Reconciliation Excluding Discrete Tax Income Tax Items Percent
EffectiveIncomeTaxRateReconciliationExcludingDiscreteTaxIncomeTaxItemsPercent
0.148
erii Effective Income Tax Rate Reconciliation Excluding Discrete Tax Income Tax Items Percent
EffectiveIncomeTaxRateReconciliationExcludingDiscreteTaxIncomeTaxItemsPercent
0.200
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
287000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
6431000 USD
CY2021Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
39000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
121000 USD
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
326000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
6552000 USD
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

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