SEC Comment Letter for Energy Recovery, Inc. (ERII) (CIK 0001421517) (ERII) — Aug 18, 2022
Energy Recovery, Inc. (ERII) (CIK 0001421517)
Date: Aug. 18, 2022 · CIK: 0001421517 · Accession: 0000000000-22-008836
AI Filing Summary & Sentiment
File numbers found in text: 001-34112
Letter
United States securities and exchange commission logo August 18, 2022 Joshua Ballard Chief Financial Officer Energy Recovery, Inc. 1717 Doolittle Drive San Leandro, CA 94577 Re:Energy Recovery, Inc. Form 10-K for the Year Ended December 31, 2021 Form 8-K filed August 3, 2022 File No. 001-34112 Dear Mr. Ballard: We have limited our review of your filings to the financial statements and related disclosures and have the following comment. In our comment, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this comment within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this comment, we may have additional comments. Form 8-K filed August 3, 2022 Exhibits 1.We note that the press release filed as Exhibit 99.1 contains several non-GAAP measures, including Adjusted EBITDA. We further note that Adjusted EBITDA is reconciled to income (loss) from operations. Please tell us how you considered Question 103.02 of the Compliance and Disclosure Interpretations for Non-GAAP Financial Measures.
FirstName LastNameJoshua Ballard Comapany NameEnergy Recovery, Inc. August 18, 2022 Page 2 FirstName LastName Joshua Ballard Energy Recovery, Inc. August 18, 2022 Page 2 In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact William Demarest at 202-551-3432 or Kristi Marrone at 202-551- 3429 with any questions. Sincerely, Division of Corporation Finance Office of Real Estate & Construction
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United States securities and exchange commission logo
August 18, 2022
Joshua Ballard
Chief Financial Officer
Energy Recovery, Inc.
1717 Doolittle Drive
San Leandro, CA 94577
Re:Energy Recovery, Inc.
Form 10-K for the Year Ended December 31, 2021
Form 8-K filed August 3, 2022
File No. 001-34112
Dear Mr. Ballard:
We have limited our review of your filings to the financial statements and related
disclosures and have the following comment. In our comment, we may ask you to provide us
with information so we may better understand your disclosure.
Please respond to this comment within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe our
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to this comment, we may have additional comments.
Form 8-K filed August 3, 2022
Exhibits
1.We note that the press release filed as Exhibit 99.1 contains several non-GAAP measures,
including Adjusted EBITDA. We further note that Adjusted EBITDA is reconciled to
income (loss) from operations. Please tell us how you considered Question 103.02 of the
Compliance and Disclosure Interpretations for Non-GAAP Financial Measures.
FirstName LastNameJoshua Ballard
Comapany NameEnergy Recovery, Inc.
August 18, 2022 Page 2
FirstName LastName
Joshua Ballard
Energy Recovery, Inc.
August 18, 2022
Page 2
In closing, we remind you that the company and its management are responsible for the
accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or
absence of action by the staff.
You may contact William Demarest at 202-551-3432 or Kristi Marrone at 202-551-
3429 with any questions.
Sincerely,
Division of Corporation Finance
Office of Real Estate & Construction