2024 Q3 Form 10-Q Financial Statement
#000142151724000172 Filed on July 31, 2024
Income Statement
| Concept | 2024 Q3 | 2024 Q2 |
|---|---|---|
| Revenue | $38.58M | $27.20M |
| YoY Change | 4.18% | 31.25% |
| Cost Of Revenue | $13.47M | $9.633M |
| YoY Change | 20.78% | 34.16% |
| Gross Profit | $25.11M | $17.57M |
| YoY Change | -2.98% | 29.71% |
| Gross Profit Margin | 65.08% | 64.58% |
| Selling, General & Admin | $14.09M | $15.64M |
| YoY Change | 10.22% | 26.49% |
| % of Gross Profit | 56.09% | 89.01% |
| Research & Development | $3.969M | $3.944M |
| YoY Change | 0.0% | 4.67% |
| % of Gross Profit | 15.81% | 22.45% |
| Depreciation & Amortization | $1.009M | $1.012M |
| YoY Change | -4.45% | -2.32% |
| % of Gross Profit | 4.02% | 5.76% |
| Operating Expenses | $18.06M | $19.58M |
| YoY Change | 7.8% | 21.4% |
| Operating Profit | $7.057M | -$2.014M |
| YoY Change | -22.73% | -22.12% |
| Interest Expense | $1.711M | $1.663M |
| YoY Change | 57.99% | 112.66% |
| % of Operating Profit | 24.25% | |
| Other Income/Expense, Net | $1.768M | $1.614M |
| YoY Change | 69.19% | -1380.95% |
| Pretax Income | $8.825M | -$400.0K |
| YoY Change | -13.29% | -79.27% |
| Income Tax | $344.0K | $242.0K |
| % Of Pretax Income | 3.9% | |
| Net Earnings | $8.481M | -$642.0K |
| YoY Change | -12.2% | -61.44% |
| Net Earnings / Revenue | 21.98% | -2.36% |
| Basic Earnings Per Share | $0.15 | -$0.01 |
| Diluted Earnings Per Share | $0.15 | -$0.01 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 57.72M shares | 57.33M shares |
| Diluted Shares Outstanding | 58.29M shares | 57.37M shares |
Balance Sheet
| Concept | 2024 Q3 | 2024 Q2 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $118.6M | $101.0M |
| YoY Change | 40.33% | 6.25% |
| Cash & Equivalents | $63.26M | $40.31M |
| Short-Term Investments | $55.36M | $60.70M |
| Other Short-Term Assets | $5.295M | $3.098M |
| YoY Change | 17.46% | -12.58% |
| Inventory | $33.46M | $33.66M |
| Prepaid Expenses | ||
| Receivables | $31.85M | $20.67M |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $189.9M | $159.0M |
| YoY Change | 29.84% | 5.81% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $16.35M | $17.25M |
| YoY Change | -12.78% | -45.58% |
| Goodwill | $12.80M | $12.79M |
| YoY Change | 0.0% | 0.0% |
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | $21.29M | $37.02M |
| YoY Change | -0.5% | 1398.06% |
| Other Assets | $1.182M | $919.0K |
| YoY Change | 205.43% | -92.38% |
| Total Long-Term Assets | $72.79M | $90.01M |
| YoY Change | -4.72% | 51.58% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $189.9M | $159.0M |
| Total Long-Term Assets | $72.79M | $90.01M |
| Total Assets | $262.7M | $249.0M |
| YoY Change | 17.98% | 18.78% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $3.414M | $4.753M |
| YoY Change | 88.72% | 173.0% |
| Accrued Expenses | $11.51M | $11.07M |
| YoY Change | -5.68% | -1.7% |
| Deferred Revenue | $2.969M | $3.214M |
| YoY Change | 102.39% | 153.47% |
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $18.87M | $20.03M |
| YoY Change | 14.94% | 31.87% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $100.0K | $86.00K |
| YoY Change | -54.95% | -99.32% |
| Total Long-Term Liabilities | $100.0K | $86.00K |
| YoY Change | -54.95% | -99.32% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $18.87M | $20.03M |
| Total Long-Term Liabilities | $100.0K | $86.00K |
| Total Liabilities | $28.83M | $30.53M |
| YoY Change | 0.7% | 9.46% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | $82.24M | $73.75M |
| YoY Change | 30.84% | 38.66% |
| Common Stock | $66.00K | $66.00K |
| YoY Change | 1.54% | 1.54% |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $233.9M | $218.5M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $262.7M | $249.0M |
| YoY Change | 17.98% | 18.78% |
Cashflow Statement
| Concept | 2024 Q3 | 2024 Q2 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $8.481M | -$642.0K |
| YoY Change | -12.2% | -61.44% |
| Depreciation, Depletion And Amortization | $1.009M | $1.012M |
| YoY Change | -4.45% | -2.32% |
| Cash From Operating Activities | -$3.003M | $8.073M |
| YoY Change | -138.75% | -295.28% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $169.0K | $201.0K |
| YoY Change | -58.98% | -64.74% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $21.83M | -$38.64M |
| YoY Change | -2454.69% | 119.15% |
| Cash From Investing Activities | $21.66M | -$38.84M |
| YoY Change | -1717.55% | 113.39% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 4.293M | 312.0K |
| YoY Change | 433.29% | 45.79% |
| NET CHANGE | ||
| Cash From Operating Activities | -3.003M | 8.073M |
| Cash From Investing Activities | 21.66M | -38.84M |
| Cash From Financing Activities | 4.293M | 312.0K |
| Net Change In Cash | 22.95M | -30.46M |
| YoY Change | 218.07% | 37.68% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$3.003M | $8.073M |
| Capital Expenditures | $169.0K | $201.0K |
| Free Cash Flow | -$3.172M | $7.872M |
| YoY Change | -143.23% | -267.35% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2024Q2 | us-gaap |
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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P1Y | |
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Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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|
P1Y | |
| CY2024Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
218513000 | usd |
| CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
181782000 | usd |
| CY2023Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
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Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
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Net Cash Provided By Used In Investing Activities
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|
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Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
1502000 | usd | |
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Proceeds From Issuance Of Common Stock
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379000 | usd | |
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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Contract With Customer Liability
ContractWithCustomerLiability
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Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
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3419000 | usd |
| CY2024Q2 | us-gaap |
Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
|
10280000 | usd |
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Net Income Loss
NetIncomeLoss
|
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| CY2024Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
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Net Income Loss
NetIncomeLoss
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Share Based Compensation
ShareBasedCompensation
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4020000 | usd | |
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Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
2019000 | usd | |
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Operating Lease Right Of Use Asset Amortization Expense
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808000 | usd | |
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Accretion Amortization Of Discounts And Premiums Investments
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383000 | usd | |
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Deferred Income Taxes And Tax Credits
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|
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Other Noncash Income Expense
OtherNoncashIncomeExpense
|
-149000 | usd | |
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Increase Decrease In Accounts Receivable
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|
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| erii |
Increase Decrease In Costs In Excess Of Billings On Uncompleted Contracts Or Programs1
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1355000 | usd | |
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Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
8097000 | usd | |
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Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
267000 | usd | |
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
804000 | usd | |
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Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
-5266000 | usd | |
| erii |
Increase Decrease In Contract Liabilities
IncreaseDecreaseInContractLiabilities
|
19000 | usd | |
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Proceeds From Sale Of Available For Sale Securities Debt
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|
2966000 | usd | |
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Proceeds From Sale And Maturity Of Marketable Securities
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29950000 | usd | |
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Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
49185000 | usd | |
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Payments To Acquire Property Plant And Equipment
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|
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Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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44365000 | usd |
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Revenue From Contract With Customer Excluding Assessed Tax
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Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
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Revenue From Contract With Customer Excluding Assessed Tax
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Contract With Customer Liability Current
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Contract With Customer Liability Noncurrent
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Contract With Customer Liability
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Contract With Customer Liability Revenue Recognized
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Contract With Customer Liability Increase Decrease From Cash Receipts
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|
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Weighted Average Number Of Diluted Shares Outstanding
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|
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Weighted Average Number Of Diluted Shares Outstanding
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|
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Earnings Per Share Basic
EarningsPerShareBasic
|
-0.03 | |
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Earnings Per Share Basic
EarningsPerShareBasic
|
-0.16 | ||
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Earnings Per Share Basic
EarningsPerShareBasic
|
-0.14 | ||
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Earnings Per Share Diluted
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-0.03 | |
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Earnings Per Share Diluted
EarningsPerShareDiluted
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-0.16 | ||
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Earnings Per Share Diluted
EarningsPerShareDiluted
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-0.14 | ||
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Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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|
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Inventory Raw Materials
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Inventory Work In Process
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Inventory Net
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Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
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Income Tax Expense Benefit Excluding Discrete Items
IncomeTaxExpenseBenefitExcludingDiscreteItems
|
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| CY2024Q2 | us-gaap |
Effective Income Tax Rate Continuing Operations
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|
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| erii |
Increase Decrease In Contract Liabilities
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Net Cash Provided By Used In Operating Activities
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Net Cash Provided By Used In Operating Activities
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|
4523000 | usd | |
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Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
|
0 | usd | |
| CY2024Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
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| CY2023Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
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|
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Weighted Average Number Of Shares Outstanding Basic
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|
57234000 | shares | |
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Weighted Average Number Of Shares Outstanding Basic
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Net Income Loss
NetIncomeLoss
|
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| CY2023Q2 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.137 | |
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.152 | ||
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Effective Income Tax Rate Reconciliation Excluding Discrete Tax Income Tax Items Percent
EffectiveIncomeTaxRateReconciliationExcludingDiscreteTaxIncomeTaxItemsPercent
|
0.064 | |
| erii |
Effective Income Tax Rate Reconciliation Excluding Discrete Tax Income Tax Items Percent
EffectiveIncomeTaxRateReconciliationExcludingDiscreteTaxIncomeTaxItemsPercent
|
0.091 | ||
| erii |
Effective Income Tax Rate Reconciliation Excluding Discrete Tax Income Tax Items Percent
EffectiveIncomeTaxRateReconciliationExcludingDiscreteTaxIncomeTaxItemsPercent
|
0.085 | ||
| CY2024Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
27199000 | usd |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
6100000 | usd | |
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
2041000 | usd | |
| us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
870000 | usd | |
| us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
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|
596000 | usd | |
| us-gaap |
Deferred Income Taxes And Tax Credits
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|
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| us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
-288000 | usd | |
| us-gaap |
Increase Decrease In Accounts Receivable
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|
-26235000 | usd | |
| erii |
Increase Decrease In Costs In Excess Of Billings On Uncompleted Contracts Or Programs1
IncreaseDecreaseInCostsInExcessOfBillingsOnUncompletedContractsOrPrograms1
|
64000 | usd | |
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
7880000 | usd | |
| us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
568000 | usd | |
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
2278000 | usd | |
| us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
-6270000 | usd | |
| us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
30385000 | usd | |
| us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
73280000 | usd | |
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1025000 | usd | |
| us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
90000 | usd | |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
1502000 | usd | |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
379000 | usd | |
| us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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|
-24000 | usd | |
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Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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41000 | usd | |
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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Nature Of Operations
NatureOfOperations
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<span style="color: #7d560b; font-family: Arial Narrow; font-size: 14pt; font-style: normal; font-weight: bold; left: 102.41pt; position: var(--position); text-decoration: none; white-space: pre;">Description of Business and Significant Accounting Policies<span style="display: inline-block; height: 10.19pt;"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 136.8pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 457.23pt;">Energy Recovery, Inc. and its wholly-owned subsidiaries (the “Company” or “Energy Recovery”) designs and manufactures <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 533.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.7pt;">reliable,<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 148.8pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 512.86pt;">high-performance solutions that provide cost savings through improved energy efficiency in commercial and industrial processes, with<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 160.8pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 138.75pt;">applications across several industries<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 188.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 111.59pt;">. Leveraging the Company’s <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 299.84000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 262.66pt;">pressure exchanger technology, which generates little to no emissions<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 172.8pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.14pt;">when operating<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 98.89pt;">, the Company believes its <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 204.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 357.95pt;">solutions lower costs, save energy, reduce waste, and minimize emissions for companies across a<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 184.8pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 170.37pt;">variety of commercial and industrial processes<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 219.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 7.74pt;">. <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 227.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 334.89pt;">As the world coalesces around the urgent need to address climate change and its impacts,<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 196.8pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 64.61pt;">the Company is <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 114.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 448.34pt;">helping companies reduce their energy consumption in their industrial processes, which in turn, reduces their carbon<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 208.8pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.9pt;">footprint.<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 81.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 121.53pt;"> The Company believes that its <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 202.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.33pt;">customers do not have to sacrifice quality and cost savings for sustainability and<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 501.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 61.13pt;"> the Company is<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 220.8pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 355.9pt;">committed to developing solutions that drive long-term value – both financial and environmental<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 405.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 156.95pt;">. The Company’s solutions are marketed,<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 232.8pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 392.39pt;">sold in, and developed for, the fluid-flow and gas markets, such as seawater and wastewater desalination, <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 441.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.59pt;">natural gas, chemical processing<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 244.8pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.71pt;">and CO<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 6.5pt; font-style: normal; font-weight: normal; left: 78.21000000000001pt; position: var(--position); text-decoration: none; top: 2.548pt; vertical-align: sub; white-space: pre; width: 2.96pt;">2<span style="display: inline-block; height: 4.732pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 81.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 190.92pt;">-based refrigeration systems, under the trademarks <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 272.09000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.65pt;">ERI<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 6.5pt; font-style: normal; font-weight: normal; left: 285.74pt; position: var(--position); text-decoration: none; top: -2.548pt; vertical-align: super; white-space: pre; width: 3.92pt;">®<span style="display: inline-block; height: 4.732pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 289.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.02pt;">, <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 294.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.92pt;">PX<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 6.5pt; font-style: normal; font-weight: normal; left: 305.6pt; position: var(--position); text-decoration: none; top: -2.548pt; vertical-align: super; white-space: pre; width: 3.92pt;">®<span style="display: inline-block; height: 4.732pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 309.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.02pt;">, <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 314.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 74.7pt;">Pressure Exchanger<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 6.5pt; font-style: normal; font-weight: normal; left: 389.24pt; position: var(--position); text-decoration: none; top: -2.548pt; vertical-align: super; white-space: pre; width: 3.92pt;">®<span style="display: inline-block; height: 4.732pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 393.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.02pt;">, <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 398.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.92pt;">PX<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 6.5pt; font-style: normal; font-weight: normal; left: 409.1pt; position: var(--position); text-decoration: none; top: -2.548pt; vertical-align: super; white-space: pre; width: 3.92pt;">®<span style="display: inline-block; height: 4.732pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 413.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.44pt;"> Pressure Exchanger<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 6.5pt; font-style: normal; font-weight: normal; left: 490.46pt; position: var(--position); text-decoration: none; top: -2.548pt; vertical-align: super; white-space: pre; width: 3.92pt;">®<span style="display: inline-block; height: 4.732pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.56pt;"> (“PX”), <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 523.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.95pt;">Ultra PX<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 6.5pt; font-style: normal; font-weight: normal; left: 554.89pt; position: var(--position); text-decoration: none; top: -2.548pt; vertical-align: super; white-space: pre; width: 5.32pt;">™<span style="display: inline-block; height: 4.732pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 560.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;">,<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 256.8pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.67pt;">PX G<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 6.5pt; font-style: normal; font-weight: normal; left: 69.17pt; position: var(--position); text-decoration: none; top: -2.548pt; vertical-align: super; white-space: pre; width: 5.32pt;">™<span style="display: inline-block; height: 4.732pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 74.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.65pt;">, <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 79.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.91pt;">PX G1300<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 6.5pt; font-style: normal; font-weight: normal; left: 117.05pt; position: var(--position); text-decoration: none; top: -2.548pt; vertical-align: super; white-space: pre; width: 5.32pt;">™<span style="display: inline-block; height: 4.732pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 122.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.65pt;">, <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 127.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.16pt;">PX PowerTrain<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 6.5pt; font-style: normal; font-weight: normal; left: 182.18pt; position: var(--position); text-decoration: none; top: -2.548pt; vertical-align: super; white-space: pre; width: 5.32pt;">™<span style="display: inline-block; height: 4.732pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 187.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.65pt;">, <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 192.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.46pt;">AT<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 6.5pt; font-style: normal; font-weight: normal; left: 202.61pt; position: var(--position); text-decoration: none; top: -2.548pt; vertical-align: super; white-space: pre; width: 5.32pt;">™<span style="display: inline-block; height: 4.732pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 207.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.7pt;">, and <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 228.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.64pt;">Aquabold<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 6.5pt; font-style: normal; font-weight: normal; left: 263.27pt; position: var(--position); text-decoration: none; top: -2.548pt; vertical-align: super; white-space: pre; width: 5.32pt;">™<span style="display: inline-block; height: 4.732pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 268.59000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 293.72pt;">. The Company owns, manufactures and/or develops its solutions, in whole or in<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 268.8pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.34pt;">part, in <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.11pt;">the United States of America (the “U.S.”)<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 223.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;">.<span style="display: inline-block; height: 7.28pt;"></span></span></div><span style="color: #7d560b; font-family: Arial Narrow; font-size: 12pt; font-style: normal; font-weight: bold; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre;">Basis of Presentation<span style="display: inline-block; height: 8.73pt;"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 324pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.12pt;">The<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 90.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.93pt;"> Condensed <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 137.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 424.81pt;">Consolidated Financial Statements include the accounts of Energy Recovery, Inc. and its wholly-owned subsidiaries.<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.56pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 336pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 299.44pt;">All intercompany accounts and transactions have been eliminated in consolidation.<span style="display: inline-block; height: 7.28pt;"></span></span></div><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.87pt;">The accompanying<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 146.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.69pt;"> Condensed <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 194.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 368.3pt;">Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 372pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 159.7pt;">Securities and Exchange Commission (the “<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 209.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 16.83pt;">SEC<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 226.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 336.44pt;">”). Certain information and footnote disclosures normally included in the financial statements<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 384pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 105.53pt;">prepared in accordance with <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 155.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.93pt;">U.S.<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 170.95999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.35pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.87pt;">generally accepted accounting principles<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 321.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 7.79pt;"> (“<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 328.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.76pt;">GAAP<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 210.72pt;">”) have been condensed or omitted pursuant to such rules<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 396pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.86pt;">and regulations.<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 108.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.52pt;"> The <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 130.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 73.04pt;">December 31, 2023<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.53pt;"> Condensed <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 251.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 310.99pt;">Consolidated Balance Sheet was derived from audited financial statements and may<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 408pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 512.86pt;">not include all disclosures required by GAAP; however, the Company believes that the disclosures are adequate to make the information<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 420pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.89pt;">presented not misleading.<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 143.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 444pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.74pt;">The <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 95.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.66pt;">June 30, 2024<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 151.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.64pt;"> unaudited<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 192.54000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.17pt;"> Condensed <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 318.73pt;">Consolidated Financial Statements should be read in conjunction with the audited<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 456pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 308.72pt;">Consolidated Financial Statements and the notes thereto for the fiscal year ended <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 358.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 73.7pt;">December 31, 2023<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 431.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 130.49pt;"> included in the Company’s Annual<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 468pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 157.6pt;">Report on Form 10-K filed with the SEC on <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 207.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 66.98pt;">February 21, 2024<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 274.08000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.4pt;"> (the “<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 295.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.91pt;">2023 Annual Report<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 368.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 7.72pt;">”).<span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 492pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 485.99pt;">The results of operations for the interim periods are not necessarily indicative of the operating results for the full fiscal year or any<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.12pt;">future periods<span style="display: inline-block; height: 7.28pt;"></span></span><span style="color: #7d560b; font-family: Arial Narrow; font-size: 12pt; font-style: normal; font-weight: bold; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre;">Reclassifications<span style="display: inline-block; height: 8.73pt;"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 554.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 215.98pt;">Certain prior period amounts have been reclassified in the<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 292.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.97pt;"> Condensed <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 340.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 221.92pt;">Consolidated Statement of Cash Flows and certain notes to<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 566.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.4pt;">the<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 60.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.49pt;"> Condensed <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 107.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 293.01pt;">Consolidated Financial Statements to conform to the current period presentation.<span style="display: inline-block; height: 7.28pt;"></span></span></div><span style="color: #7d560b; font-family: Arial Narrow; font-size: 12pt; font-style: normal; font-weight: bold; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre;">Use of Estimates<span style="display: inline-block; height: 8.73pt;"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 116.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.32pt;">The preparation of<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 143.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.83pt;"> Condensed <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 197.86pt;">Consolidated Financial Statements, in conformity with <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 388.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.76pt;">GAAP<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 411.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 151.23pt;">, requires the Company’s management to<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 128.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 317.91pt;">make judgments, assumptions and estimates that affect the amounts reported in the<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 367.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.85pt;"> Condensed <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 416.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 146.18pt;">Consolidated Financial Statements and<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 140.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.49pt;">accompanying notes.<span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 485.93pt;">The accounting policies that reflect the Company’s significant estimates and judgments and that the Company believes are the most<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 176.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 313.05pt;">critical to aid in fully understanding and evaluating its reported financial results are <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 362.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 199.84pt;">revenue recognition; granted equity award valuations;<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 188.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 512.93pt;">equipment useful life and valuation; goodwill valuation and impairment; deferred taxes and valuation allowances on deferred tax assets; and<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 200.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 171.08pt;">evaluation and measurement of contingencies<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 220.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.51pt;">. <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 226.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 336.39pt;"> Those estimates could change, and as a result, actual results could differ materially from<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 212.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.71pt;">those estimates.<span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 236.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 485.89pt;">The Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or a<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 248.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 215.56pt;">revision of the carrying value of its assets or liabilities as of <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 265.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.86pt;">July 31, 2024<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 313.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 104.68pt;">, the date of issuance of this <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 418.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.7pt;">Quarterly<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 452.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.1pt;"> Report on Form <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.22pt;">10-Q<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.7pt;">. These<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 260.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 512.89pt;">estimates may change, as new events occur and additional information is obtained. Actual results could differ materially from these<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 272.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 512.89pt;">estimates under different assumptions or conditions. The Company undertakes no obligation to publicly update these estimates for any<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 284.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 102.1pt;">reason after the date of this <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 151.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.7pt;">Quarterly<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 61.94pt;"> Report on Form <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 247.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.22pt;">10-Q<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 265.46000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 99.79pt;">, except as required by law.<span style="display: inline-block; height: 7.28pt;"></span></span></div><span style="color: #7d560b; font-family: Arial Narrow; font-size: 12pt; font-style: normal; font-weight: bold; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre;">Significant Accounting Policies<span style="display: inline-block; height: 8.73pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 379.79pt;">There have been no material changes to the Company’s significant accounting policies in Note 1, “<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 456.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 106.2pt;">Description of Business and<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 346.8pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 114.1pt;">Significant Accounting Policies<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.2pt;"> - <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 114.1pt;">Significant Accounting Policies<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 274.46pt;">,” of the Notes to Consolidated Financial Statements included in Item 8,<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 358.8pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.31pt;">“Financial Statements and Supplementary Data,” of the <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 251.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.91pt;">2023 Annual Report<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 324.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;">.<span style="display: inline-block; height: 7.28pt;"></span></span></div><span style="color: #7d560b; font-family: Arial Narrow; font-size: 12pt; font-style: normal; font-weight: bold; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre;">Recently Issued Accounting Pronouncement Not Yet Adopted<span style="display: inline-block; height: 8.73pt;"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 409.2pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 365.83pt;">There have been no issued accounting pronouncements that have not yet been adopted during the <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 442.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 64.91pt;">six months ended<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 507.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.6pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 509.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.62pt;">June 30, 2024<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 421.2pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 292.08pt;">that apply to the Company other than the pronouncements disclosed in Note 1, “<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 341.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 215.67pt;">Description of Business and Significant Accounting Policies<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 557.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.1pt;"> -<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 433.2pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 234.61pt;">Recently Issued Accounting Pronouncement Not Yet Adopted<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 284.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 278.31pt;">,” of the Notes to Consolidated Financial Statements included in Item 8,<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 445.2pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.31pt;">“Financial Statements and Supplementary Data,” of the <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 251.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.91pt;">2023 Annual Report<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 324.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;">.<span style="display: inline-block; height: 7.28pt;"></span></span></div> | ||
| us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 215.98pt;">Certain prior period amounts have been reclassified in the<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 292.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.97pt;"> Condensed <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 340.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 221.92pt;">Consolidated Statement of Cash Flows and certain notes to<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 566.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.4pt;">the<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 60.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.49pt;"> Condensed <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 107.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 293.01pt;">Consolidated Financial Statements to conform to the current period presentation.<span style="display: inline-block; height: 7.28pt;"></span></span></div> | ||
| us-gaap |
Use Of Estimates
UseOfEstimates
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<span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.32pt;">The preparation of<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 143.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.83pt;"> Condensed <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 197.86pt;">Consolidated Financial Statements, in conformity with <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 388.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.76pt;">GAAP<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 411.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 151.23pt;">, requires the Company’s management to<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 128.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 317.91pt;">make judgments, assumptions and estimates that affect the amounts reported in the<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 367.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.85pt;"> Condensed <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 416.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 146.18pt;">Consolidated Financial Statements and<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 140.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.49pt;">accompanying notes.<span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 485.93pt;">The accounting policies that reflect the Company’s significant estimates and judgments and that the Company believes are the most<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 176.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 313.05pt;">critical to aid in fully understanding and evaluating its reported financial results are <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 362.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 199.84pt;">revenue recognition; granted equity award valuations;<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 188.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 512.93pt;">equipment useful life and valuation; goodwill valuation and impairment; deferred taxes and valuation allowances on deferred tax assets; and<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 200.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 171.08pt;">evaluation and measurement of contingencies<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 220.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.51pt;">. <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 226.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 336.39pt;"> Those estimates could change, and as a result, actual results could differ materially from<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 212.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.71pt;">those estimates.<span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 236.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 485.89pt;">The Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or a<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 248.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 215.56pt;">revision of the carrying value of its assets or liabilities as of <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 265.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.86pt;">July 31, 2024<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 313.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 104.68pt;">, the date of issuance of this <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 418.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.7pt;">Quarterly<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 452.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.1pt;"> Report on Form <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.22pt;">10-Q<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.7pt;">. These<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 260.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 512.89pt;">estimates may change, as new events occur and additional information is obtained. Actual results could differ materially from these<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 272.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 512.89pt;">estimates under different assumptions or conditions. The Company undertakes no obligation to publicly update these estimates for any<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 562.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.28pt;"> <span style="display: inline-block; height: 7.28pt;"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 284.4pt; width: 612pt;"><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 102.1pt;">reason after the date of this <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 151.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.7pt;">Quarterly<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 61.94pt;"> Report on Form <span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 247.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.22pt;">10-Q<span style="display: inline-block; height: 7.28pt;"></span></span><span style="font-family: Arial Narrow; font-size: 10pt; font-style: normal; font-weight: normal; left: 265.46000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 99.79pt;">, except as required by law.<span style="display: inline-block; height: 7.28pt;"></span></span></div> | ||
| CY2024Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
27199000 | usd |
| CY2024Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
27199000 | usd |
| CY2023Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
20723000 | usd |
| CY2023Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
20723000 | usd |
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
34124000 | usd | |
| CY2024Q2 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
20670000 | usd |
| CY2023Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
46937000 | usd |
| CY2024Q2 | us-gaap |
Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
|
0 | usd |
| CY2023Q4 | us-gaap |
Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
|
592000 | usd |
| CY2024Q2 | us-gaap |
Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
|
528000 | usd |
| CY2023Q4 | us-gaap |
Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
|
0 | usd |
| CY2024Q2 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
528000 | usd |
| CY2023Q4 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
592000 | usd |
| CY2023Q4 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
1097000 | usd |
| CY2023Q4 | us-gaap |
Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
|
90000 | usd |
| CY2022Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
1316000 | usd |
| CY2023 | us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
1254000 | usd |
| CY2023 | erii |
Contract With Customer Liability Increase Decrease From Cash Receipts
ContractWithCustomerLiabilityIncreaseDecreaseFromCashReceipts
|
1125000 | usd |
| CY2023Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
1187000 | usd |
| CY2024Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
57366000 | shares |
| CY2023Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
56363000 | shares |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
57234000 | shares | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
56296000 | shares | |
| CY2024Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.01 | |
| CY2024Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.01 | |
| CY2024Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
3010000 | shares |
| CY2024Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
40313000 | usd |
| CY2023Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
68098000 | usd |
| CY2024Q2 | us-gaap |
Restricted Cash Noncurrent
RestrictedCashNoncurrent
|
130000 | usd |
| CY2024Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
40443000 | usd |
| CY2024Q2 | us-gaap |
Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
|
20840000 | usd |
| CY2024Q2 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
170000 | usd |
| CY2024Q2 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
20670000 | usd |
| CY2024Q2 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
8306000 | usd |
| CY2024Q2 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
7953000 | usd |
| CY2024Q2 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
18722000 | usd |
| CY2024Q2 | us-gaap |
Inventory Gross
InventoryGross
|
34981000 | usd |
| CY2024Q2 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
1322000 | usd |
| CY2024Q2 | us-gaap |
Inventory Net
InventoryNet
|
33659000 | usd |
| CY2024Q2 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
6874000 | usd |
| CY2023Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
11037000 | usd |
| CY2024Q2 | us-gaap |
Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
|
962000 | usd |
| CY2023Q4 | us-gaap |
Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
|
1057000 | usd |
| CY2024Q2 | us-gaap |
Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
|
35000 | usd |
| CY2023Q4 | us-gaap |
Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
|
1077000 | usd |
| CY2024Q2 | erii |
Other Accrued Expenses And Current Liabilities
OtherAccruedExpensesAndCurrentLiabilities
|
2282000 | usd |
| CY2023Q4 | erii |
Other Accrued Expenses And Current Liabilities
OtherAccruedExpensesAndCurrentLiabilities
|
2412000 | usd |
| CY2024Q2 | erii |
Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
|
10153000 | usd |
| CY2023Q4 | erii |
Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
|
15583000 | usd |
| CY2024Q2 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
86000 | usd |
| CY2023Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
207000 | usd |
| CY2024Q2 | us-gaap |
Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
|
10239000 | usd |
| CY2023Q4 | us-gaap |
Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
|
15790000 | usd |
| CY2024Q2 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
99926000 | usd |
| CY2024Q2 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
27000 | usd |
| CY2024Q2 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
95000 | usd |
| CY2024Q2 | us-gaap |
Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
|
99858000 | usd |
| CY2023Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
73042000 | usd |
| CY2023Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
40000 | usd |
| CY2023Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
38000 | usd |
| CY2023Q4 | us-gaap |
Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
|
73044000 | usd |
| CY2024Q2 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
|
71498000 | usd |
| CY2024Q2 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
|
95000 | usd |
| CY2023Q4 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
|
31163000 | usd |
| CY2023Q4 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
|
38000 | usd |
| CY2024Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
242000 | usd |
| CY2023Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-265000 | usd |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-1043000 | usd | |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-1424000 | usd | |
| CY2023Q2 | us-gaap |
Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
|
141000 | usd |
| us-gaap |
Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
|
140000 | usd | |
| us-gaap |
Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
|
629000 | usd | |
| CY2023Q2 | erii |
Income Tax Expense Benefit Excluding Discrete Items
IncomeTaxExpenseBenefitExcludingDiscreteItems
|
-124000 | usd |
| erii |
Income Tax Expense Benefit Excluding Discrete Items
IncomeTaxExpenseBenefitExcludingDiscreteItems
|
-903000 | usd | |
| erii |
Income Tax Expense Benefit Excluding Discrete Items
IncomeTaxExpenseBenefitExcludingDiscreteItems
|
-795000 | usd | |
| CY2023Q2 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.137 | |
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.105 | ||
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.152 | ||
| CY2024Q2 | erii |
Effective Income Tax Rate Reconciliation Excluding Discrete Tax Income Tax Items Percent
EffectiveIncomeTaxRateReconciliationExcludingDiscreteTaxIncomeTaxItemsPercent
|
-0.762 | |
| CY2023Q2 | erii |
Effective Income Tax Rate Reconciliation Excluding Discrete Tax Income Tax Items Percent
EffectiveIncomeTaxRateReconciliationExcludingDiscreteTaxIncomeTaxItemsPercent
|
0.064 | |
| erii |
Effective Income Tax Rate Reconciliation Excluding Discrete Tax Income Tax Items Percent
EffectiveIncomeTaxRateReconciliationExcludingDiscreteTaxIncomeTaxItemsPercent
|
0.091 | ||
| erii |
Effective Income Tax Rate Reconciliation Excluding Discrete Tax Income Tax Items Percent
EffectiveIncomeTaxRateReconciliationExcludingDiscreteTaxIncomeTaxItemsPercent
|
0.085 | ||
| CY2024Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
27199000 | usd |
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
39289000 | usd | |
| CY2024Q2 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
9633000 | usd |
| us-gaap |
Cost Of Revenue
CostOfRevenue
|
14588000 | usd | |
| CY2024Q2 | us-gaap |
Gross Profit
GrossProfit
|
17566000 | usd |
| us-gaap |
Gross Profit
GrossProfit
|
24701000 | usd | |
| CY2024Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
9532000 | usd |
| us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
17098000 | usd | |
| CY2024Q2 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
6104000 | usd |
| us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
12256000 | usd | |
| CY2024Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
3944000 | usd |
| us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
8295000 | usd | |
| CY2024Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
19580000 | usd |
| us-gaap |
Operating Expenses
OperatingExpenses
|
37649000 | usd | |
| CY2024Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2014000 | usd |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-12948000 | usd | |
| CY2023Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
20723000 | usd |
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
34124000 | usd | |
| CY2023Q2 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
7180000 | usd |
| us-gaap |
Cost Of Revenue
CostOfRevenue
|
12426000 | usd | |
| us-gaap |
Gross Profit
GrossProfit
|
21698000 | usd | |
| CY2023Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
7269000 | usd |
| us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
14335000 | usd | |
| CY2023Q2 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
5092000 | usd |
| us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
9986000 | usd | |
| CY2023Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
3768000 | usd |
| us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
8074000 | usd | |
| CY2023Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
16129000 | usd |
| us-gaap |
Operating Expenses
OperatingExpenses
|
32395000 | usd | |
| CY2023Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2586000 | usd |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-10697000 | usd | |
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
39289000 | usd | |
| CY2024Q2 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
9633000 | usd |
| us-gaap |
Cost Of Revenue
CostOfRevenue
|
14588000 | usd | |
| CY2024Q2 | us-gaap |
Gross Profit
GrossProfit
|
17566000 | usd |
| us-gaap |
Gross Profit
GrossProfit
|
24701000 | usd | |
| CY2024Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
9532000 | usd |
| us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
17098000 | usd | |
| us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
12256000 | usd | |
| CY2024Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
3944000 | usd |
| us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
8295000 | usd | |
| CY2024Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
19580000 | usd |
| us-gaap |
Operating Expenses
OperatingExpenses
|
37649000 | usd | |
| CY2024Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2014000 | usd |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-12948000 | usd | |
| CY2023Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
20723000 | usd |
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
34124000 | usd | |
| CY2023Q2 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
7180000 | usd |
| us-gaap |
Cost Of Revenue
CostOfRevenue
|
12426000 | usd | |
| CY2023Q2 | us-gaap |
Gross Profit
GrossProfit
|
13543000 | usd |
| us-gaap |
Gross Profit
GrossProfit
|
21698000 | usd | |
| CY2023Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
7269000 | usd |
| us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
14335000 | usd | |
| CY2023Q2 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
5092000 | usd |
| us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
9986000 | usd | |
| CY2023Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
3768000 | usd |
| us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
8074000 | usd | |
| CY2023Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
16129000 | usd |
| us-gaap |
Operating Expenses
OperatingExpenses
|
32395000 | usd | |
| CY2023Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2586000 | usd |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-10697000 | usd | |
| CY2024Q2 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
| CY2024Q2 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
| CY2024Q2 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
| CY2024Q2 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
| CY2024Q2 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
| CY2024Q2 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
| CY2024Q2 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
| CY2024Q2 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false |
