In 2025, Energy Recovery, Inc. posted solid financial metrics, bolstered by a 26.8% revenue increase and improved operating income, underscored by disciplined capital deployment including $35.6 million in share repurchases. The company decisively exited its CO2 retail grocery business within the Emerging Technologies segment, citing protracted commercialization timelines and stringent capital allocation criteria. Strong liquidity and a conservative balance sheet equip Energy Recovery to support strategic pivots while maintaining shareholder returns through buybacks rather than dividends.