NASDAQ : NEPH
Nephros, Inc. — Financial statements
Healthcare · Medical Instruments & Supplies · United States
Last price 3.17 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 34.43M
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Financial statements
Nephros, Inc. (NEPH) reported revenue of 20.72M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 20.72M | 18.79M | 14.16M | 14.24M | 9.97M | 10.22M |
| Cost of Revenue | 8.03M | 7.16M | 5.44M | 5.83M | 5.24M | 4.58M |
| Gross Profit | 12.70M | 11.62M | 8.72M | 8.40M | 4.73M | 5.63M |
| Selling, General & Admin | 9.48M | 9.00M | 7.68M | 8.91M | 7.59M | 7.20M |
| Research & Development | 1.45M | 1.34M | 906.00K | 873.00K | 1.25M | 1.50M |
| Operating Expenses | 11.05M | 10.48M | 8.72M | 10.00M | 9.07M | 8.88M |
| Operating Income | 1.64M | 1.15M | 6.00K | -1.59M | -4.33M | -3.25M |
| Interest Expense | -1.00K | -1.00K | -1.00K | -2.00K | -20.00K | -41.00K |
| Interest & Investment Income | 157.00K | 139.00K | 94.00K | 64.00K | 14.00K | 10.00K |
| Currency Exchange Gain (Loss) | -46.00K | -78.00K | -10.00K | -44.00K | ||
| Other Non Operating Income (Expenses) | 17.00K | |||||
| EBT Excluding Unusual Items | 1.75M | 1.21M | 89.00K | -1.57M | -4.34M | -3.27M |
| Gain (Loss) on Sale of Assets | 64.00K | |||||
| Other Unusual Items | 482.00K | |||||
| Pretax Income | 1.75M | 1.21M | 89.00K | -1.57M | -4.28M | -2.78M |
| Income Tax Expense | 16.00K | 12.00K | 15.00K | |||
| Earnings From Continuing Operations | 1.74M | 1.19M | 74.00K | -1.57M | -4.28M | -2.78M |
| Earnings From Discontinued Operations | -2.83M | -1.08M | ||||
| Net Income to Company | 1.74M | 1.19M | 74.00K | -1.57M | -7.11M | -3.87M |
| Minority Interest in Earnings | -276.00K | -240.00K | ||||
| Net Income | 1.74M | 1.19M | 74.00K | -1.57M | -7.38M | -4.11M |
| Net Income to Common | 1.74M | 1.19M | 74.00K | -1.57M | -7.38M | -4.11M |
| Shares Outstanding (Basic) | 10.69M | 10.61M | 10.53M | 10.39M | 10.30M | 10.02M |
| Shares Outstanding (Diluted) | 11.15M | 10.97M | 10.60M | 10.39M | 10.30M | 10.02M |
| EPS (Basic) | 0.16 | 0.11 | 0.01 | -0.15 | -0.72 | -0.41 |
| EPS (Diluted) | 0.16 | 0.11 | 0.01 | -0.15 | -0.73 | -0.41 |
| Free Cash Flow | -661.00K | 1.65M | -547.00K | 752.00K | -3.37M | -1.50M |
| Free Cash Flow Per Share | -0.06 | 0.15 | -0.05 | 0.07 | -0.33 | -0.15 |
| Gross Margin | 61.26% | 61.87% | 61.59% | 59.03% | 47.43% | 55.13% |
| Operating Margin | 7.92% | 6.10% | 0.04% | -11.19% | -43.46% | -31.83% |
| Profit Margin | 8.38% | 6.35% | 0.52% | -11.06% | -74.00% | -40.20% |
| Free Cash Flow Margin | -3.19% | 8.76% | -3.86% | 5.28% | -33.79% | -14.70% |
| EBITDA | 1.77M | 1.29M | 143.00K | -1.38M | -3.98M | -3.00M |
| EBITDA Margin | 8.53% | 6.87% | 1.01% | -9.69% | -39.94% | -29.36% |
| D&A For EBITDA | 126.00K | 144.00K | 137.00K | 214.00K | 351.00K | 252.00K |
| EBIT | 1.64M | 1.15M | 6.00K | -1.59M | -4.33M | -3.25M |
| EBIT Margin | 7.92% | 6.10% | 0.04% | -11.19% | -43.46% | -31.83% |
| Effective Tax Rate | 0.91% | 1.00% | 16.85% | |||
| Revenue as Reported | 20.72M | 18.79M | 14.16M | 14.24M | 9.97M | 10.22M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 4.70M | 5.40M | 3.76M | 4.31M | 3.63M | 6.97M |
| Cash & Short-Term Investments | 4.70M | 5.40M | 3.76M | 4.31M | 3.63M | 6.97M |
| Accounts Receivable | 4.10M | 2.41M | 1.78M | 1.50M | 1.29M | 1.64M |
| Receivables | 4.10M | 2.41M | 1.78M | 1.50M | 1.29M | 1.64M |
| Inventory | 4.55M | 3.23M | 2.62M | 2.47M | 3.15M | 4.46M |
| Prepaid Expenses | 256.00K | 177.00K | 142.00K | 132.00K | 188.00K | 207.00K |
| Other Current Assets | 351.00K | |||||
| Total Current Assets | 13.60M | 11.22M | 8.30M | 8.40M | 8.26M | 13.63M |
| Property, Plant & Equipment | 915.00K | 1.13M | 1.54M | 1.96M | 1.10M | 686.00K |
| Goodwill | 759.00K | 759.00K | 759.00K | 759.00K | 759.00K | 759.00K |
| Other Intangible Assets | 450.00K | 482.00K | 565.00K | 652.00K | 825.00K | 1.00M |
| Other Long-Term Assets | 50.00K | 50.00K | 50.00K | 86.00K | 54.00K | 1.57M |
| Total Assets | 15.77M | 13.64M | 11.21M | 11.86M | 11.00M | 17.65M |
| Accounts Payable | 1.97M | 914.00K | 649.00K | 873.00K | 740.00K | 1.33M |
| Accrued Expenses | 965.00K | 1.46M | 565.00K | 794.00K | 285.00K | 444.00K |
| Current Portion of Long-Term Debt | 71.00K | 248.00K | ||||
| Current Portion of Leases | 414.00K | 391.00K | 348.00K | 446.00K | 316.00K | 313.00K |
| Other Current Liabilities | 51.00K | |||||
| Total Current Liabilities | 3.34M | 2.77M | 1.56M | 2.11M | 1.41M | 2.39M |
| Long-Term Debt | 1.00K | 99.00K | ||||
| Long-Term Leases | 458.00K | 672.00K | 1.06M | 1.39M | 705.00K | 340.00K |
| Other Long-Term Liabilities | 72.00K | |||||
| Total Liabilities | 3.80M | 3.44M | 2.62M | 3.50M | 2.12M | 2.90M |
| Common Stock | 11.00K | 11.00K | 11.00K | 10.00K | 10.00K | 10.00K |
| Additional Paid-In Capital | 153.76M | 153.33M | 152.91M | 152.75M | 148.41M | 147.35M |
| Retained Earnings | -141.80M | -143.14M | -144.33M | -144.41M | -142.83M | -135.72M |
| Comprehensive Income & Other | 64.00K | |||||
| Total Common Equity | 11.97M | 10.20M | 8.59M | 8.36M | 5.59M | 11.70M |
| Minority Interest | 3.29M | 3.05M | ||||
| Shareholders' Equity | 11.97M | 10.20M | 8.59M | 8.36M | 8.88M | 14.75M |
| Total Liabilities & Equity | 15.77M | 13.64M | 11.21M | 11.86M | 11.00M | 17.65M |
| Total Debt | 872.00K | 1.06M | 1.41M | 1.84M | 1.09M | 1.00M |
| Net Cash (Debt) | 3.83M | 4.34M | 2.35M | 2.47M | 2.54M | 5.97M |
| Net Cash Per Share | 0.34 | 0.40 | 0.22 | 0.24 | 0.25 | 0.60 |
| Filing Date Shares Outstanding | 10.86M | 10.64M | 10.60M | 10.54M | 10.46M | 10.26M |
| Total Common Shares Outstanding | 10.86M | 10.64M | 10.54M | 10.54M | 10.30M | 10.26M |
| Working Capital | 10.25M | 8.46M | 6.74M | 6.29M | 6.85M | 11.24M |
| Book Value Per Share | 1.10 | 0.96 | 0.81 | 0.79 | 0.54 | 1.14 |
| Tangible Book Value | 10.76M | 8.96M | 7.26M | 6.95M | 4.01M | 9.94M |
| Tangible Book Value Per Share | 0.99 | 0.84 | 0.69 | 0.66 | 0.39 | 0.97 |
| Machinery | 979.00K | 979.00K | 923.00K | 1.03M | 876.00K | |
| Leasehold Improvements | 88.00K | 88.00K | 88.00K | 13.00K | 25.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.74M | 1.19M | 74.00K | -1.57M | -7.38M | -4.11M |
| Depreciation & Amortization | 126.00K | 144.00K | 137.00K | 214.00K | 351.00K | 252.00K |
| Loss (Gain) From Sale of Assets | -5.00K | |||||
| Stock-Based Compensation | 270.00K | 296.00K | 153.00K | 1.05M | 982.00K | 1.26M |
| Provision & Write-off of Bad Debts | 2.00K | 11.00K | -1.00K | 1.00K | ||
| Other Operating Activities | 403.00K | 424.00K | 703.00K | 637.00K | 989.00K | 295.00K |
| Change in Accounts Receivable | -2.06M | -633.00K | -285.00K | -221.00K | 357.00K | -278.00K |
| Change in Inventory | -2.36M | -685.00K | -407.00K | 387.00K | 765.00K | 296.00K |
| Change in Accounts Payable | 1.34M | 259.00K | -220.00K | 133.00K | -593.00K | 908.00K |
| Change in Other Net Operating Assets | -125.00K | 646.00K | -642.00K | 189.00K | -97.00K | -43.00K |
| Operating Cash Flow | -661.00K | 1.65M | -492.00K | 827.00K | -3.23M | -1.42M |
| Capital Expenditures | -55.00K | -75.00K | -137.00K | -85.00K | ||
| Sale of Property, Plant & Equipment | 5.00K | |||||
| Investing Cash Flow | -50.00K | -75.00K | -137.00K | -85.00K | ||
| Long-Term Debt Repaid | -5.00K | -5.00K | -79.00K | -286.00K | -264.00K | |
| Total Debt Repaid | -6.00K | -5.00K | -5.00K | -79.00K | -286.00K | -264.00K |
| Net Debt Issued (Repaid) | -6.00K | -5.00K | -5.00K | -79.00K | -286.00K | -264.00K |
| Issuance of Common Stock | 290.00K | 163.00K | 501.00K | |||
| Repurchase of Common Stock | -31.00K | |||||
| Other Financing Activities | 188.00K | |||||
| Financing Cash Flow | 284.00K | -5.00K | -5.00K | -79.00K | 34.00K | 237.00K |
| Foreign Exchange Rate Adjustments | -2.00K | -11.00K | ||||
| Net Cash Flow | -377.00K | 1.64M | -547.00K | 673.00K | -3.34M | -1.28M |
| Free Cash Flow | -661.00K | 1.65M | -547.00K | 752.00K | -3.37M | -1.50M |
| Free Cash Flow Margin | -3.19% | 8.76% | -3.86% | 5.28% | -33.79% | -14.70% |
| Free Cash Flow Per Share | -0.06 | 0.15 | -0.05 | 0.07 | -0.33 | -0.15 |
| Levered Free Cash Flow | -1.45M | 1.03M | -654.88K | 1.37M | -325.88K | 698.88K |
| Unlevered Free Cash Flow | -1.45M | 1.03M | -654.25K | 1.37M | -313.38K | 724.50K |
| Cash Interest Paid | 1.00K | 1.00K | 2.00K | 2.00K | 19.00K | 41.00K |
| Cash Income Tax Paid | 79.00K | |||||
| Change in Working Capital | -3.20M | -413.00K | -1.55M | 488.00K | 432.00K | 883.00K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 35.84M | 51.86M | 15.50M | 36.28M | 11.94M | 60.38M |
| Enterprise Value | 32.01M | 47.84M | 14.54M | 32.44M | 11.85M | 57.36M |
| Last Close Price | 3.17 | 4.88 | 1.47 | 3.46 | 1.16 | 5.90 |
| PE Ratio | 20.62 | 43.43 | 209.46 | |||
| Forward PE | 17.47 | 40.67 | ||||
| PS Ratio | 1.66 | 2.76 | 1.09 | 2.55 | 1.20 | 5.91 |
| PB Ratio | 2.88 | 5.08 | 1.80 | 4.34 | 1.34 | 4.09 |
| P/TBV Ratio | 3.20 | 5.79 | 2.13 | 5.22 | 2.98 | 6.08 |
| P/FCF Ratio | 31.52 | 48.24 | ||||
| P/OCF Ratio | 31.52 | 43.87 | ||||
| EV/Sales Ratio | 1.48 | 2.55 | 1.03 | 2.28 | 1.19 | 5.61 |
| EV/EBITDA Ratio | 17.31 | 37.09 | 101.64 | |||
| EV/EBIT Ratio | 18.64 | 41.75 | 2,422.50 | |||
| EV/FCF Ratio | 29.08 | 43.13 | ||||
| Debt / Equity Ratio | 0.07 | 0.10 | 0.16 | 0.22 | 0.12 | 0.07 |
| Debt / EBITDA Ratio | 0.39 | 0.61 | 2.02 | |||
| Debt / FCF Ratio | 0.65 | 2.44 | ||||
| Net Debt / Equity Ratio | -0.32 | -0.42 | -0.27 | -0.30 | -0.29 | -0.41 |
| Net Debt / EBITDA Ratio | -2.16 | -3.36 | -16.43 | 1.79 | 0.64 | 1.99 |
| Net Debt / FCF Ratio | 5.79 | -2.64 | 4.29 | -3.29 | 0.75 | 3.98 |
| Asset Turnover | 1.48 | 1.51 | 1.23 | 1.25 | 0.70 | 0.56 |
| Inventory Turnover | 2.37 | 2.45 | 2.14 | 2.08 | 1.38 | 0.94 |
| Quick Ratio | 2.63 | 2.82 | 3.55 | 2.75 | 3.48 | 3.60 |
| Current Ratio | 4.07 | 4.06 | 5.31 | 3.98 | 5.85 | 5.71 |
| Return on Equity (ROE) | 16.10% | 12.71% | 0.87% | -18.27% | -36.20% | -18.36% |
| Return on Assets (ROA) | 7.33% | 5.76% | 0.03% | -8.71% | -18.91% | -11.24% |
| Return on Invested Capital (ROIC) | 20.60% | 18.75% | 0.08% | -26.06% | -57.36% | -35.59% |
| Return on Capital Employed (ROCE) | 13.20% | 10.50% | 0.10% | -16.30% | -45.20% | -21.30% |
| Earnings Yield | 4.85% | 2.30% | 0.48% | -4.34% | -61.83% | -6.80% |
| FCF Yield | -1.92% | 3.17% | -3.53% | 2.07% | -28.24% | -2.49% |
| Buyback Yield / Dilution | -4.21% | -3.45% | -2.08% | -0.86% | -2.79% | -10.35% |