NEPH

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Nephros, Inc.

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Key Metrics

Previous Close: $4.76
52-Week Range: $2.66 – $6.42
Market Cap: $47.84M
P/E (TTM): 29.37
EPS (TTM): 0.15
Dividend Yield: —

Advanced Metrics

Price/Book: 4.00
PEG Ratio: —
Return on Equity: 16.10%
Return on Assets: 7.33%
Gross Margin: 61.26%
Operating Margin: 20.16%
Profit Margin: 8.38%
Current Ratio: 4.07
Debt/Equity: 0.07
Total Debt: $872.00K
Free Cash Flow: $-1.45M
Revenue Growth: 36.20%
Earnings Growth: 450.00%
Enterprise Value: $44.01M

NEPH Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$9.97M	$14.24M	$14.16M	$18.79M
Cost of Revenue	$5.24M	$5.83M	$5.44M	$7.16M
Gross Profit	$4.73M	$8.40M	$8.72M	$11.63M
Research & Development	$1.25M	$873.00K	$906.00K	$1.34M
Selling, General & Admin	$7.59M	$8.91M	$7.68M	$9.00M
Operating Expenses	$9.07M	$10.00M	$8.72M	$10.48M
Operating Income	-$4.33M	-$1.59M	$6.00K	$1.15M
EBITDA	-$3.91M	-$1.36M	$227.00K	$1.35M
Pretax Income	-$4.28M	-$1.57M	$89.00K	$1.21M
Income Tax	—	$0.00	$15.00K	$12.00K
Net Income	-$7.38M	-$1.57M	$74.00K	$1.19M
Diluted EPS	-0.70	-0.15	0.01	0.11
Diluted Shares	10.30M	10.39M	10.61M	10.97M

NEPH Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$3.63M	$4.31M	$3.76M	$5.40M
Receivables	$1.29M	$1.50M	$1.78M	$2.41M
Inventory	$3.15M	$2.47M	$2.62M	$3.23M
Current Assets	$8.26M	$8.40M	$8.30M	$11.22M
Total Assets	$11.00M	$11.86M	$11.21M	$13.64M
Current Liabilities	$1.41M	$2.11M	$1.56M	$2.77M
Long-Term Debt	$1.00K	—	—	—
Total Debt	$1.09M	$1.84M	$1.41M	$1.06M
Total Liabilities	$2.12M	$3.50M	$2.63M	$3.44M
Retained Earnings	-$142.83M	-$144.41M	-$144.33M	-$143.14M
Shareholders' Equity	$5.59M	$8.36M	$8.59M	$10.20M
Working Capital	$6.85M	$6.29M	$6.74M	$8.46M

NEPH Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$3.23M	$827.00K	-$492.00K	$1.65M
Capital Expenditure	-$137.00K	-$75.00K	-$55.00K	—
Free Cash Flow	-$3.37M	$752.00K	-$547.00K	$1.65M
Depreciation & Amortisation	$351.00K	$214.00K	$137.00K	$139.00K
Stock-Based Compensation	$982.00K	$1.05M	$153.00K	$296.00K
Investing Cash Flow	-$137.00K	-$75.00K	-$50.00K	$0.00
Financing Cash Flow	$34.00K	-$79.00K	-$5.00K	-$5.00K
Net Change in Cash	-$3.34M	$673.00K	-$547.00K	$1.64M

NEPH Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$4.88M	$4.42M	$4.76M	$4.73M	$5.21M
Cost of Revenue	$1.72M	$1.62M	$1.85M	$1.97M	$2.22M
Gross Profit	$3.15M	$2.79M	$2.92M	$2.76M	$2.99M
Research & Development	$295.00K	$311.00K	$338.00K	$395.00K	$346.00K
Selling, General & Admin	$2.25M	$2.20M	$2.23M	$2.32M	$2.52M
Operating Expenses	$2.59M	$2.55M	$2.60M	$2.74M	$2.90M
Operating Income	$566.00K	$248.00K	$314.00K	$18.00K	$97.00K
EBITDA	$606.00K	$282.00K	$374.00K	$94.00K	$126.00K
Pretax Income	$558.00K	$246.00K	$340.00K	$62.00K	$140.00K
Income Tax	—	$9.00K	$3.00K	$0.00	—
Net Income	$558.00K	$237.00K	$337.00K	$62.00K	$140.00K
Diluted EPS	0.05	0.02	0.03	—	0.01
Diluted Shares	10.62M	10.81M	11.04M	—	10.99M

NEPH Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$4.08M	$5.07M	$5.17M	$5.40M	$4.02M
Receivables	$2.68M	$2.04M	$2.66M	$2.41M	$3.52M
Inventory	$1.95M	$2.24M	$2.74M	$3.23M	$3.62M
Current Assets	$8.99M	$9.58M	$10.71M	$11.22M	$11.50M
Total Assets	$11.78M	$12.24M	$13.25M	$13.64M	$13.79M
Current Liabilities	$1.52M	$1.77M	$2.47M	$2.77M	$2.53M
Total Debt	$1.33M	$1.24M	$1.15M	$1.06M	$968.00K
Total Liabilities	$2.49M	$2.64M	$3.24M	$3.44M	$3.09M
Retained Earnings	-$143.77M	-$143.54M	-$143.20M	-$143.14M	-$143.00M
Shareholders' Equity	$9.29M	$9.60M	$10.01M	$10.20M	$10.70M
Working Capital	$7.47M	$7.81M	$8.24M	$8.46M	$8.97M

NEPH Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$322.00K	$994.00K	$99.00K	$230.00K	-$1.67M
Free Cash Flow	$322.00K	$994.00K	$99.00K	$230.00K	-$1.67M
Depreciation & Amortisation	$40.00K	$33.00K	$34.00K	$32.00K	$27.00K
Stock-Based Compensation	$76.00K	$71.00K	$70.00K	$79.00K	$60.00K
Investing Cash Flow	—	—	$0.00	$0.00	—
Financing Cash Flow	-$1.00K	-$1.00K	-$2.00K	-$1.00K	$289.00K
Net Change in Cash	$321.00K	$993.00K	$97.00K	$229.00K	-$1.38M

Market Snapshot

About

Nephros, Inc. manufactures water filtration products for healthcare facilities, focusing on pathogen reduction in dialysis centers and hospitals. The company produces ultrafilters, hemodiafiltration systems, and water purification devices.