Nephros reports preliminary Q4 revenue $2.6M, two est. $2.8M

Nephros announced preliminary revenue results for the fourth quarter and fiscal year ended December 31, 2022. Net revenue for the quarter ended December 31, 2022, is expected to be approximately $2.6M, a 6% quarter-over-quarter increase and a 6% decrease from the quarter ended December 31, 2021. Full-year 2022 net revenue is expected to be approximately $10M, a 2% decrease over 2021. "Nephros certainly faced some headwinds in 2022, but we ended the year on a strong positive note, with sequential revenue growth, record Active Customer Sites, and significantly improved net cash flow," said Andy Astor, President and CEO. "Quarter-over-quarter revenue increased 6% in the fourth quarter, ACS increased to a new record of 1,394, and our net cash flow for the second half of the year was approximately negative $500,000, compared to negative $2.9M in the first half." Nephros ended the fourth quarter with approximately $3.6M in cash on a consolidated basis.