Nephros Announces Strong Second Quarter Financial Results
Nephros (NASDAQ:NEPH), a water technology company, reported outstanding Q2 2025 financial results with significant growth and continued profitability. The company achieved net revenue of $4.4 million, marking a 36% increase year-over-year, and recorded its third consecutive profitable quarter with net income of $237,000.
Key highlights include a record-high programmatic sales performance, the largest dialysis filtration purchase order in company history, and all-time high active-site counts across all segments. The company's gross margin improved to 63%, up from 59% in Q2 2024, while maintaining a strong cash position of $5.1 million with no debt.
For the first half of 2025, Nephros reported net revenue of $9.3 million, up 37% year-over-year, with net income of $795,000 and Adjusted EBITDA of $1 million, demonstrating sustained growth and operational excellence.
Nephros (NASDAQ:NEPH), un'azienda specializzata in tecnologie per l'acqua, ha riportato risultati finanziari eccezionali per il secondo trimestre 2025, con una crescita significativa e profitti continui. La società ha raggiunto un fatturato netto di 4,4 milioni di dollari, segnando un aumento del 36% rispetto all'anno precedente, e ha registrato il terzo trimestre consecutivo in utile con un reddito netto di 237.000 dollari.
I punti salienti includono una performance record nelle vendite programmatiche, il più grande ordine di acquisto per filtri dialitici nella storia dell'azienda e un numero record di siti attivi in tutti i segmenti. Il margine lordo è migliorato al 63%, rispetto al 59% del secondo trimestre 2024, mantenendo una solida posizione di cassa di 5,1 milioni di dollari senza debiti.
Per la prima metà del 2025, Nephros ha riportato un fatturato netto di 9,3 milioni di dollari, in crescita del 37% su base annua, con un reddito netto di 795.000 dollari e un EBITDA rettificato di 1 milione di dollari, dimostrando una crescita sostenuta e un'eccellenza operativa.
Nephros (NASDAQ:NEPH), una empresa de tecnología del agua, reportó resultados financieros sobresalientes en el segundo trimestre de 2025 con un crecimiento significativo y rentabilidad continua. La compañía alcanzó unos ingresos netos de 4,4 millones de dólares, lo que representa un aumento del 36% interanual, y registró su tercer trimestre consecutivo con ganancias con un ingreso neto de 237,000 dólares.
Los aspectos destacados incluyen un récord en ventas programáticas, la orden de compra más grande de filtros de diálisis en la historia de la empresa y un número récord de sitios activos en todos los segmentos. El margen bruto mejoró a 63%, frente al 59% en el segundo trimestre de 2024, manteniendo una sólida posición de efectivo de 5,1 millones de dólares sin deudas.
Para la primera mitad de 2025, Nephros reportó unos ingresos netos de 9,3 millones de dólares, un aumento del 37% interanual, con un ingreso neto de 795,000 dólares y un EBITDA ajustado de 1 millón de dólares, demostrando un crecimiento sostenido y excelencia operativa.
Nephros (NASDAQ:NEPH), 물 기술 회사가 2025년 2분기 재무 실적에서 뛰어난 성과를 보고했으며, 상당한 성장과 지속적인 수익성을 기록했습니다. 회사는 순매출 440만 달러를 달성하여 전년 대비 36% 증가했으며, 3분기 연속 흑자를 기록하며 순이익 23만 7천 달러를 기록했습니다.
주요 성과로는 프로그램 판매 실적 사상 최고 기록, 회사 역사상 최대 규모의 투석 여과 구매 주문, 모든 부문에서 사상 최고 수준의 활성 사이트 수가 포함됩니다. 회사의 총 마진은 2024년 2분기 59%에서 63%로 개선되었으며, 부채 없이 510만 달러의 강한 현금 보유고를 유지했습니다.
2025년 상반기 동안 Nephros는 순매출 930만 달러를 보고했으며, 전년 대비 37% 증가했고 순이익 79만 5천 달러 및 조정 EBITDA 100만 달러를 기록하여 지속적인 성장과 운영 우수성을 보여주었습니다.
Nephros (NASDAQ:NEPH), une entreprise spécialisée dans les technologies de l'eau, a annoncé des résultats financiers exceptionnels pour le deuxième trimestre 2025 avec une croissance significative et une rentabilité continue. La société a réalisé un chiffre d'affaires net de 4,4 millions de dollars, soit une augmentation de 36 % par rapport à l'année précédente, et a enregistré son troisième trimestre consécutif bénéficiaire avec un bénéfice net de 237 000 dollars.
Les points forts incluent une performance record des ventes programmatiques, la plus grande commande d'achat de filtres de dialyse de l'histoire de l'entreprise, et un nombre record de sites actifs dans tous les segments. La marge brute de la société s'est améliorée à 63%, contre 59 % au deuxième trimestre 2024, tout en maintenant une trésorerie solide de 5,1 millions de dollars sans dettes.
Pour le premier semestre 2025, Nephros a déclaré un chiffre d'affaires net de 9,3 millions de dollars, en hausse de 37 % sur un an, avec un bénéfice net de 795 000 dollars et un EBITDA ajusté de 1 million de dollars, démontrant une croissance soutenue et une excellence opérationnelle.
Nephros (NASDAQ:NEPH), ein Wassertechnologieunternehmen, meldete herausragende Finanzergebnisse für das 2. Quartal 2025 mit erheblichem Wachstum und anhaltender Profitabilität. Das Unternehmen erzielte einen Nettoerlös von 4,4 Millionen US-Dollar, was einer Steigerung von 36 % gegenüber dem Vorjahr entspricht, und verzeichnete sein drittes aufeinanderfolgendes profitables Quartal mit einem Nettogewinn von 237.000 US-Dollar.
Zu den wichtigsten Highlights zählen eine rekordverdächtige programmgesteuerte Verkaufsleistung, die größte Bestellung für Dialysefilter in der Firmengeschichte und eine Rekordzahl aktiver Standorte in allen Segmenten. Die Bruttomarge verbesserte sich auf 63%, gegenüber 59 % im 2. Quartal 2024, während eine starke Cash-Position von 5,1 Millionen US-Dollar ohne Schulden gehalten wurde.
Für das erste Halbjahr 2025 meldete Nephros einen Nettoerlös von 9,3 Millionen US-Dollar, eine Steigerung von 37 % gegenüber dem Vorjahr, mit einem Nettogewinn von 795.000 US-Dollar und einem bereinigten EBITDA von 1 Million US-Dollar, was nachhaltiges Wachstum und operative Exzellenz demonstriert.
- Net revenue increased by 36% to $4.4 million in Q2 2025
- Achieved third consecutive quarter of profitability with $237,000 net income
- Gross margin improved to 63% from 59% year-over-year
- Strong cash position of $5.1 million with zero debt
- Secured largest dialysis filtration purchase order in company history
- Reached all-time high active-site counts across all segments
- Core programmatic revenue grew 31% year-over-year
- Operating expenses increased with SG&A up 13% to $2.2 million
- R&D expenses remained flat at $0.3 million quarter-over-quarter
Insights
Nephros reports exceptional Q2 growth with 36% revenue increase and third consecutive profitable quarter, demonstrating sustainable business momentum.
Nephros has delivered impressive Q2 2025 results that demonstrate substantial financial improvement across key metrics. Revenue jumped
The company's gross margin expanded from
What's particularly encouraging is the quality of revenue growth. Their core programmatic revenue increased
The balance sheet has also strengthened significantly, with cash increasing from
The transformation to profitability is remarkable - Adjusted EBITDA reached
Second-Quarter Net Revenue of
SOUTH ORANGE, N.J., Aug. 07, 2025 (GLOBE NEWSWIRE) -- Nephros, Inc. (Nasdaq: NEPH), a leading water technology company providing filtration solutions to the medical and commercial markets, today announced financial results for the second quarter ended June 30, 2025.
Financial Highlights
- Net revenue was
$4.4 million , compared to$3.3 million in the second quarter of 2024, up36% - Net income was
$237,000 , compared to a net loss of ($289,000) in the second quarter of 2024 - Adjusted EBITDA was
$355,000 , compared to ($133,000) in the second quarter of 2024
For the six months ended June 30, 2025:
- Net revenue was
$9.3 million , compared to$6.8 million in the same period of 2024, up37% - Net income was
$795,000 , compared to a net loss of ($458,000) in the same period of 2024 - Adjusted EBITDA was
$1 million , compared to ($228,000) in the same period of 2024
“Q2 2025 marked another strong quarter with net revenue of
“Nephros’ continued strong results reflect a strong upward trajectory,” Mr. Banks continued, “Over the past two years, we’ve grown trailing 12-month revenue from
Mr. Banks added, “During the second quarter, our dialysis water segment delivered its second-highest performance on record and secured the largest dialysis filtration purchase order in company history. Additionally, active-site counts reached all-time highs across infection control, dialysis water, and commercial segments. Further, our targeted additions to the sales-support team have broadened our reach and supported our deepened our focus on verticals beyond patient care.”
“The coupling of market-leading technology with strategic focus continues to position Nephros for sustained growth,” Mr. Banks concluded, “We believe our unprecedented results in programmatic business and active customer sites underscores durable demand, reinforcing our confidence in the long-term outlook.”
Financial Performance for the Quarter Ended June 30, 2025
Net revenue for the three months ended June 30, 2025, and 2024 was
Cost of goods sold for the second quarter of 2025 was
Selling, general and administrative expenses for the second quarter of 2025 were approximately
Research and development expenses were
Depreciation and amortization expenses for the second quarter of 2025 were approximately
As a result of the improved sales and gross margins, net income for the second quarter of 2025 was
Adjusted EBITDA for the second quarter 2025 was approximately
Financial Performance for the Six Months Ended June 30, 2025
Net revenue for the six months ended June 30, 2025, and 2024 was
Cost of goods sold for the six months ended June 30, 2025 and 2024 was
Selling, general and administrative expenses for the six months ended June 30, 2025 and 2024 were approximately
Research and development expenses for the six months ended June 30, 2025 and 2024 were
Depreciation and amortization expenses for the six months ended June 30, 2025 and 2024 were approximately
As a result of the improved sales and gross margins, net income for the six months ended June 30, 2025 was
Adjusted EBITDA for the six months ended June 30, 2025 was approximately
As of June 30, 2025, Nephros had cash and cash equivalents of approximately
Adjusted EBITDA Definition and Reconciliation to GAAP Financial Measures
Adjusted EBITDA is calculated by taking net income (loss) calculated in accordance with generally accepted accounting principles (“GAAP”) and excluding all interest-related expenses and income, tax-related expenses and income, non-recurring expenses and income, and non-cash items, including depreciation, amortization, non-cash inventory write-offs, and non-cash compensation. The following tables present a reconciliation of Adjusted EBITDA to net income (loss), the most directly comparable GAAP financial measure, for the second quarter and year-to-date period of the 2025 fiscal year:
| (unaudited) | |||||
| Three Months Ended June 30, | |||||
| 2025 | 2024 | ||||
| (in $ thousands) | |||||
| Net income (loss) | 237 | (289 | ) | ||
| Adjustments: | |||||
| Depreciation of property and equipment | 13 | 11 | |||
| Amortization of other assets | 20 | 24 | |||
| Interest expense | 1 | - | |||
| Interest income | (31 | ) | (21 | ) | |
| Income taxes | 9 | - | |||
| Non-cash stock-based compensation | 71 | 35 | |||
| Non-cash inventory impairments | 35 | 107 | |||
| Adjusted EBITDA Income (loss) | 355 | (133 | ) | ||
| (unaudited) | |||||
| Six Months Ended June 30, | |||||
| 2025 | 2024 | ||||
| (in $ thousands) | |||||
| Net Income (loss) | 795 | (458 | ) | ||
| Adjustments: | |||||
| Depreciation of property and equipment | 30 | 22 | |||
| Amortization of other assets | 43 | 47 | |||
| Interest expense | 1 | 1 | |||
| Interest income | (44 | ) | (46 | ) | |
| Income taxes | 9 | - | |||
| Non-cash stock-based compensation | 147 | 26 | |||
| Non-cash inventory impairments | 41 | 180 | |||
| Adjusted EBITDA Income (loss) | 1,022 | (228 | ) | ||
Nephros believes that Adjusted EBITDA provides useful information to management and investors regarding certain financial and business trends relating to Nephros’ financial condition and results of operations. Management does not consider Adjusted EBITDA in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitation of Adjusted EBITDA is that it excludes significant expenses and income that are required by GAAP to be recognized in Nephros’ financial statements. In addition, Adjusted EBITDA is subject to inherent limitations as it reflects the exercise of judgments by management about which expenses and income are excluded or included in determining Adjusted EBITDA. To compensate for these limitations, management presents Adjusted EBITDA in connection with net income (loss), the most directly comparable GAAP financial measure. Nephros urges investors to review the reconciliation of Adjusted EBITDA to net income (loss) and not to rely on any single financial measure to evaluate the business.
Conference Call Today at 4:30pm Eastern Time
Nephros will host a conference call today at 4:30pm ET, during which management will discuss Nephros’ financial results and provide a general business overview.
Participants may dial into the call as follows:
Domestic access: 1 (844) 808-7106
International access: 1 (412) 317-5285
Upon joining, please ask to be joined into the Nephros conference call.
An audio archive of the call will be available shortly after the call on the Nephros Investor Relations page.
Alternatively, a replay of the call may be accessed until August 15th, 2025, at 1 (877) 344-7529 or
1 (412) 317-0088 for international callers and entering replay access code: 6362809.
About Nephros
Nephros is committed to improving the human relationship with water through leading, accessible technology. We provide innovative water filtration products and services, along with water-quality education, as part of an integrated approach to water safety. Nephros goods serve the needs of customers within healthcare and commercial markets, offering both proactive and emergency solutions for water management.
For more information about Nephros, please visit nephros.com.
Forward-Looking Statements
This release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding Nephros’ expected future revenue growth and the timing of such growth, the extent to which Nephros’ customer installation and replacement programs will lead to increased product reorders and revenue, the extent to which Nephros’ operational activities and product innovations will lead to revenue growth, Nephros’ ability to continue realizing net income from its operations, the effect of new regulations on future revenue growth, the expected competitive advantages and anticipated impact of new product offerings, and other statements that are not historical facts, including statements that may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including Nephros’ ability to further develop its sales organization and realize increased revenues, the extent to which financial results based on emergency response sales can be outside Nephros’ control, the extent to which U.S. tariffs may increase our expenses, inflationary factors and other economic and competitive conditions, the availability of capital when needed, dependence on third-party manufacturers and researchers, and regulatory reforms. These and other risks and uncertainties are detailed in Nephros’ reports filed with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2024, which it may update in Part II, Item 1A – Risk Factors in its Quarterly Reports on Form 10-Q that it has filed or will file hereafter. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of this release, and Nephros does not undertake any responsibility to update any forward-looking statements that it makes, except as may be required by law.
Investor Relations Contacts:
Kirin Smith, President
PCG Advisory, Inc.
(646) 823-8656
ksmith@pcgadvisory.com
Robert Banks, CEO
Nephros, Inc.
(201) 343-5202 x110
robert.banks@nephros.com
| NEPHROS, INC. | ||||||||
| BALANCE SHEETS | ||||||||
| (In thousands, except share and per share amounts) | ||||||||
| (Unaudited) | ||||||||
| ASSETS | June 30, 2025 | December 31, 2024 | ||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 5,074 | $ | 3,760 | ||||
| Accounts receivable, net | 2,040 | 1,781 | ||||||
| Inventory | 2,237 | 2,615 | ||||||
| Prepaid expenses and other current assets | 227 | 142 | ||||||
| Total current assets | 9,578 | 8,298 | ||||||
| Property and equipment, net | 131 | 161 | ||||||
| Lease right-use-of assets | 1,202 | 1,377 | ||||||
| Intangible assets, net | 334 | 349 | ||||||
| Goodwill | 759 | 759 | ||||||
| License and supply agreement, net | 189 | 216 | ||||||
| Other assets | 50 | 50 | ||||||
| TOTAL ASSETS | $ | 12,243 | $ | 11,210 | ||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | 632 | 649 | ||||||
| Accrued expenses | 771 | 565 | ||||||
| Current portion of lease liabilities | 369 | 348 | ||||||
| Total current liabilities | 1,772 | 1,562 | ||||||
| Lease liabilities, net of current portion | 872 | 1,063 | ||||||
| TOTAL LIABILITIES | 2,644 | 2,625 | ||||||
| STOCKHOLDERS' EQUITY: | ||||||||
| Preferred stock, $.001 par value; 5,000,000 shares authorized at June 30, 2025 and December 31, 2024; no shares issued and outstanding June 30, 2025 and December 31, 2024. | - | - | ||||||
| Common stock, $.001 par value; 40,000,000 shares authorized at June 30, 2025 and December 31, 2024; 10,600,604 and 10,544,691 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively. | 11 | 11 | ||||||
| Additional paid-in capital | 153,125 | 152,906 | ||||||
| Accumulated deficit | (143,537 | ) | (144,332 | ) | ||||
| TOTAL STOCKHOLDERS' EQUITY | 9,599 | 8,585 | ||||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 12,243 | $ | 11,210 | ||||
| NEPHROS, INC. | ||||||||||||||||
| STATEMENTS OF OPERATIONS | ||||||||||||||||
| (In thousands, except share and per share amounts) | ||||||||||||||||
| (Unaudited) | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Net revenue: | ||||||||||||||||
| Product revenues | $ | 4,311 | $ | 3,208 | $ | 9,017 | $ | 6,714 | ||||||||
| Service, royalty and other revenues | 108 | 44 | 279 | 60 | ||||||||||||
| Total net revenues | 4,419 | 3,252 | 9,296 | 6,774 | ||||||||||||
| Cost of goods sold | 1,624 | 1,340 | 3,347 | 2,675 | ||||||||||||
| Gross margin | 2,795 | 1,912 | 5,949 | 4,099 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Selling, general and administrative | 2,201 | 1,941 | 4,455 | 4,083 | ||||||||||||
| Research and development | 311 | 254 | 606 | 466 | ||||||||||||
| Depreciation and amortization | 35 | 34 | 74 | 67 | ||||||||||||
| Total operating expenses | 2,547 | 2,229 | 5,135 | 4,616 | ||||||||||||
| Operating income (loss) | 248 | (317 | ) | 814 | (517 | ) | ||||||||||
| Other (expense) income: | ||||||||||||||||
| Interest expense | (1 | ) | - | (1 | ) | (1 | ) | |||||||||
| Interest income | 31 | 21 | 44 | 46 | ||||||||||||
| Other income (expense), net | (32 | ) | 7 | (53 | ) | 14 | ||||||||||
| Total other expense: | (2 | ) | 28 | (10 | ) | 59 | ||||||||||
| Income (loss) before income taxes | 246 | (289 | ) | 804 | (458 | ) | ||||||||||
| Income tax expense | (9 | ) | - | (9 | ) | - | ||||||||||
| Net income (loss) | $ | 237 | $ | (289 | ) | $ | 795 | $ | (458 | ) | ||||||
| Net income (loss) per common share, basic | $ | 0.02 | $ | (0.03 | ) | $ | 0.07 | $ | (0.04 | ) | ||||||
| Net income (loss) per common share, diluted | $ | 0.02 | $ | (0.03 | ) | $ | 0.07 | $ | 0.04 | |||||||
| Weighted average common shares outstanding, basic | 10,600,409 | 10,509,937 | 10,600,379 | 10,505,833 | ||||||||||||
| Weighted average common shares outstanding, diluted | 10,813,028 | 10,509,937 | 10,691,881 | 10,505,833 | ||||||||||||
FAQ
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