Nephros, Inc. (NEPH)

From the record

Nephros, Inc.'s filings since 2017 show 2 warning events of 2 kinds: an auditor change (8-K item 4.01, the latest 2021-12-03); a late-report notice (Form NT 10-K or NT 10-Q, the latest 2022-11-15) (its current reports).

From the record

Nephros, Inc.'s 9 filed years say what it did: revenue went from $4 million in fiscal 2017 to $19 million in fiscal 2025, up 22.1% a year; it rose in 5 of 8 years; the deepest fall was 17% from fiscal 2019 to fiscal 2020; net income was positive in 2 of 8 of those years (its annual reports).

From the record

Over the 3 fiscal years to 2025-12-31, Nephros, Inc.'s diluted share count grew about 1.0% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 0 sales and 0 purchases of their own stock on the open market in the year to 2026-11-12 (their Form 4 filings).

From the record

Return on equity: in the fiscal year ended 2025-12-31, Nephros, Inc. earned about 12 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 85 cents per dollar of everything the company owns. Leverage: it owed about 25 cents per dollar of assets, and net share issuance: its share count grew 0.8% over the year (the filed statements).

From the record

Nephros, Inc.'s standing among 109 graded names in its industry family: revenue of $19 million in fiscal 2025 ranks in the bottom 27% by size; a net margin of 6.4% ranks in the top 25%; revenue growth of 23.5% a year over the last 3 filed years ranks in the top 32% (its annual reports).

From the record

Nephros, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Banks, Robert R. Jr. (President and CEO, as filed), filing under that title since 2023-05-17, 3.5 years (bottom 43% of its family); the 7 officers and directors filing in the last fifteen months have been on the record a median of 8.3 years (top 16%); 3 officer or director changes were reported on Form 8-K since 2023-11-13, against the 7 people in charge now (top 39%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

From the record

Nephros, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $5 million against no long-term debt tagged leaves 39.6% of its assets as net cash, top 24% of its family; cash from operations less capital spending is 8.5% of revenue (top 26%); a gross margin of 61.9% (top 49%); research spending of 7.1% of revenue (bottom 34%) (its annual report).

From the record

Nephros, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 23.5% a year over the last three filed years against 22.1% over all 9, speeding up (top 30% of its family); the newest year grew 32.7% (top 20%); research spending grew 2.2% a year (bottom 40%); capital spending grew 15.2% a year (top 29%) (its annual reports). Nephros, Inc. reported 3 product lines in fiscal 2025: Product at $18 million (97%), Service at $520 thousand (3%), Other Revenue at $24 thousand (0%); 2 of 3 grew against the year before (its annual report).

From the record

Nephros, Inc.'s newest year against its own record: revenue of $19 million in fiscal 2025 came in 11.4% above the $17 million its prior three years' pace pointed to (top 15% of its family); net income of $1 million against a prior three-year average of $751 thousand (top 5%); a net margin of 6.4% against -5.3% before (top 45%) (its annual reports).