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Nephros (NEPH) investor relations material
Nephros Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Q3 2025 net revenue rose 35% year-over-year to $4.8 million, marking one of the highest quarters, with strong contributions from all business lines and record programmatic sales.
Net income for Q3 2025 was $337,000, up 84% from $183,000 in Q3 2024; nine-month net income reached $1.1 million versus a $275,000 loss in the prior year.
Achieved at least four consecutive profitable quarters, driven by recurring revenue streams, operational discipline, and customer-focused initiatives.
Launched a PFAS removal solution, expanding into new verticals such as municipalities, dialysis centers, labs, and markets with stringent water quality regulations.
Maintained strong cash reserves and a debt-free balance sheet, positioning for continued growth and market expansion.
Financial highlights
Q3 2025 net revenue grew 35% year-over-year to $4.8 million; nine-month net revenue rose 37% to $14.1 million.
Gross margin was 61% for Q3 2025 and improved to 63% for the nine months, up from 61% in the prior year.
Q3 2025 net income was $337,000; Adjusted EBITDA was $418,000, up 42% from Q3 2024.
Net cash provided by operating activities improved to $99,000 in Q3 2025 and $1.4 million for the nine months.
Cash and cash equivalents stood at $5.2 million as of September 30, 2025, with no debt.
Outlook and guidance
Management expects continued growth, supported by a robust innovation pipeline, expanded market reach, and investments in product development and customer engagement.
PFAS and microplastics solutions are expected to drive future growth as regulatory and market awareness increases.
Gross margins are expected to remain above 60%, with minor fluctuations due to tariffs and business mix.
Current cash balances are believed sufficient to fund operations for at least the next 12 months.
PFAS solution: new market penetration strategy?
Near-term growth drivers: core vs. new products?
Gross margin sustainability given tariff impact?
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Frequently asked questions
Nephros Inc. is a medical technology company specializing in water filtration systems and medical devices. The company designs and manufactures filtration products that target microbial contaminants in water used for dialysis and other medical applications. Nephros serves healthcare facilities, dialysis centers, and commercial industries by providing solutions that improve water quality and reduce infection risks. The company’s filtration systems are also used in various industrial and commercial settings to ensure clean and safe water supply. The company is headquartered in South Orange, New Jersey, and its shares are listed on the NASDAQ.
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