NEPHROS INC
Business
Nephros is a medical-device company that develops and markets point-of-use water filtration solutions for infection control and dialysis applications in healthcare, as well as commercial water filters for foodservice and industrial use. Its medical-grade products include FDA 510(k)-cleared ultrafilters and microfilters that retain bacteria, viruses, and endotoxins; commercial filters address taste, odor, scale, particulates, lead, and PFAS. The company manufactures some commercial products in-house and sources medical-grade filters exclusively from Medica under license; it distributes through value-added resellers and direct sales to hospitals, dialysis clinics, and commercial customers across healthcare, foodservice, hospitality, laboratories, manufacturing, and aviation sectors.
Summary from 10-K filed 2026-03-12
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Total net revenues | 19 | 14 | 14 | 10 | 10 | |
| Cost of goods sold | 7 | 5 | 6 | 5 | 5 | |
| Gross Margin | 12 | 9 | 8 | 5 | 6 | |
| Research and development | 1 | 906,000 | 873,000 | 1 | 1 | |
| Depreciation and amortization | 140,000 | 135,000 | 214,000 | 218,000 | 192,000 | |
| Selling, general and administrative | 9 | 8 | 9 | 8 | 7 | |
| Total operating expenses | 10 | 9 | 10 | 9 | 9 | |
| Operating income | 1 | 6,000 | −2 | −4 | −3 | |
| Interest expense | −1,000 | −1,000 | −2,000 | — | — | |
| Interest income | 139,000 | 94,000 | 64,000 | 14,000 | 10,000 | |
| Other expense net | −78,000 | −10,000 | −44,000 | 64,000 | 17,000 | |
| Total other income | 60,000 | 83,000 | 18,000 | 58,000 | 468,000 | |
| Income before income taxes | 1 | 89,000 | −2 | — | — | |
| Income tax expense | −12,000 | −15,000 | — | — | — | |
| Net income | 1 | 74,000 | — | — | −4 | |
| Net income per common share, basic | 0.11 | 0.01 | −0.15 | −0.73 | −0.41 | |
| Net income per common share, diluted | 0.11 | 0.01 | −0.15 | −0.73 | — | |
| Weighted average common shares outstanding, basic | 11 | 11 | 10 | 10 | 10 | |
| Weighted average common shares outstanding, diluted | 11 | 11 | 10 | 10 | — |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 5 | 4 | 4 | 4 | 7 | |
| Accounts receivable, net | 2 | 2 | 1 | 1 | 2 | |
| Inventory | 3 | 3 | 2 | 3 | 4 | |
| Prepaid expenses and other current assets | 177,000 | 142,000 | 132,000 | 188,000 | 207,000 | |
| Total current assets | 11 | 8 | 8 | 8 | 14 | |
| Property and equipment, net | 106,000 | 161,000 | 152,000 | 116,000 | 72,000 | |
| Lease right-of-use assets | 1 | 1 | 2 | 984,000 | 614,000 | |
| Intangible assets, net | 318,000 | 349,000 | 381,000 | 423,000 | 465,000 | |
| Goodwill | 800,000 | 800,000 | 800,000 | 800,000 | 800,000 | |
| License and supply agreement, net | 164,000 | 216,000 | 271,000 | 402,000 | 500,000 | |
| Other assets | 50,000 | 50,000 | 86,000 | 54,000 | 84,000 | |
| TOTAL ASSETS | 14 | 11 | 12 | 11 | 18 | |
| Accounts payable | 914,000 | 649,000 | 873,000 | 740,000 | 1 | |
| Accrued expenses | 1 | 565,000 | 794,000 | 285,000 | 444,000 | |
| Current portion of lease liabilities | 391,000 | 348,000 | 446,000 | 316,000 | 313,000 | |
| Total current liabilities | 3 | 2 | 2 | 1 | 2 | |
| Lease liabilities, net of current portion | 672,000 | 1 | 1 | 705,000 | 340,000 | |
| TOTAL LIABILITIES | 3 | 3 | 4 | 2 | 3 | |
| Preferred stock, $.001 par value; 5,000,000 shares authorized at December 31, 2025 and 2024; no shares issued and outstanding at December 31, 2025 and 2024 | — | — | — | — | — | |
| Common stock, $.001 par value; 40,000,000 shares authorized at December 31, 2025 and 2024; 10,644,268 and 10,544,691 shares issued and outstanding at December 31, 2025 and 2024, respectively | 11,000 | 11,000 | 10,000 | 10,000 | 10,000 | |
| Additional paid-in capital | 153 | 153 | 153 | 148 | 147 | |
| Accumulated deficit | −143 | −144 | −144 | −143 | −136 | |
| TOTAL STOCKHOLDERS EQUITY | 10 | 9 | 8 | 9 | 15 | |
| TOTAL LIABILITIES AND STOCKHOLDERS EQUITY | 14 | 11 | 12 | 11 | 18 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation of property and equipment | 55,000 | 46,000 | 39,000 | 93,000 | 38,000 | |
| Amortization of intangible assets, license and supply agreement and finance lease right-of-use asset | 84,000 | 91,000 | 175,000 | 258,000 | 214,000 | |
| Stock-based compensation | 296,000 | 153,000 | 1 | 982,000 | 1 | |
| Inventory impairments and writeoffs | 68,000 | 262,000 | 295,000 | 773,000 | 213,000 | |
| Change in right-of-use asset | 356,000 | 447,000 | 342,000 | — | — | |
| Gain on asset disposal | — | −5,000 | — | — | — | |
| (Gain) or loss on foreign currency transactions | 5,000 | −6,000 | — | — | — | |
| Accounts receivable | −633,000 | −285,000 | −221,000 | 357,000 | −278,000 | |
| Inventory | −685,000 | −407,000 | 387,000 | 765,000 | 296,000 | |
| Prepaid expenses and other current assets | −35,000 | −10,000 | 56,000 | 26,000 | 12,000 | |
| Other assets | — | 36,000 | −31,000 | 29,000 | — | |
| Accounts payable | 259,000 | −220,000 | 133,000 | −593,000 | 908,000 | |
| Accrued expenses | 1 | −226,000 | 506,000 | −150,000 | 274,000 | |
| Lease liabilities | −343,000 | −442,000 | −342,000 | −355,000 | −329,000 | |
| Net cash provided by (used in) operating activities | 2 | −492,000 | 827,000 | −3 | −1 | |
| Sale of property and equipment | — | 5,000 | — | — | — | |
| Purchase of property and equipment | — | −55,000 | −75,000 | −137,000 | −36,000 | |
| Net cash used in investing activities | 0 | −50,000 | −75,000 | −137,000 | −85,000 | |
| Principal payments on finance lease liability | −5,000 | −5,000 | −7,000 | −12,000 | −11,000 | |
| Net cash used in financing activities | −5,000 | −5,000 | −79,000 | 34,000 | 237,000 | |
| Net increase (decrease) in cash and cash equivalents | 2 | −547,000 | 673,000 | −3 | −1 | |
| Cash paid for interest expense | 1,000 | 2,000 | 2,000 | 19,000 | 41,000 | |
| Right-of-use asset obtained in exchange for finance lease liability | — | 22,000 | — | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is NEPHROS INC's CIK number?
NEPHROS INC's SEC CIK number is 0001196298 (1196298). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find NEPHROS INC's SEC filings?
All of NEPHROS INC's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did NEPHROS INC last report earnings?
NEPHROS INC (NEPH) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001493152-26-021734). This is NEPHROS INC's most recent earnings filing of record — not a forecast of its next earnings date.
What is NEPHROS INC's most recent earnings 8-K?
NEPHROS INC's latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001493152-26-021734. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View NEPHROS INC's latest earnings 8-K →
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