The call conveyed a largely positive operational and financial story: solid top-line growth (+33% FY), return to full-year profitability (~$1.2M), improved full-year adjusted EBITDA and positive operating cash flow, expansion of product/service/education initiatives, and an increased active site base. Near-term headwinds were highlighted—most notably Q4 margin compression (58% vs 64% prior-year quarter) driven by import tariffs, higher quarterly SG&A and R&D spend, one-time Q4 expenses, and working capital build that pressured quarterly EBITDA and net income. On balance, the company appears to be scaling with improving annual profitability and cash generation, while managing near-term cost and tariff-related margin challenges.

Company Guidance

Management framed 2026 as a continued, multi‑year growth story built on three pillars—products, services and education—with emphasis on expanding recurring programmatic revenue (over 90% of sales in Q4 and for FY2025) as active sites rise (≈1,681 at year‑end). They pointed to 2025 results that underpin the outlook: revenue +33% to $18.8M (Q4 $4.7M, +22% YoY), net income ≈$1.2M, adjusted EBITDA $1.6M for the year ($131k in Q4), gross margin 62% for FY2025 (58% in Q4), $5.4M cash and no debt, while flagging cost pressures from tariffs (15% on Italian imports since April 2025, reduced to 10% Feb 22, 2026) and higher R&D ($1.3M) and SG&A ($9.0M).

Strong Revenue Growth

Full-year 2025 revenue of $18.8M, up 33% from $14.2M in 2024; Q4 2025 revenue of $4.7M, up 22% year-over-year, driven by higher programmatic reorder activity and new active sites.

Returned to Profitability

Net income for FY2025 of approximately $1.2M versus $0.1M in 2024 (material improvement), marking the company's second consecutive year of profitability.

Improved Full-Year Adjusted EBITDA and Operating Cash Flow

Adjusted EBITDA for FY2025 was a positive $1.6M versus $0.548M in 2024; net cash provided by operating activities was $1.6M in 2025 compared with net cash used of ~$0.5M in 2024, reflecting stronger cash generation.

Growing and Sticky Customer Base (Programmatic Revenue)

Active customer sites increased to ~1,681 from ~1,500 at year-end 2024 (≈+12%); management reported programmatic sales accounted for over 90% of revenue, supporting recurring revenue visibility.

Strong Balance Sheet and Financial Discipline

Year-end cash of $5.4M (up from $3.8M a year earlier), and the company remains debt-free, supporting liquidity and operational flexibility.

Product, Services and Education Expansion

Launched expanded product applications (ice machines, drinking fountains, bottle fillers, sterile processing), rolled out Services (installation/replacement programs) and launched the Nephros Water Institute; education efforts reached 1,000+ attendees to drive long-term demand.

Nephros (NEPH) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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NEPH Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 07, 2026	2026 (Q1)	0.01 / -	0.05	―	―	―
Mar 12, 2026	2025 (Q4)	0.01 / 0.01	0.03	-66.67% (-0.02)	―
Nov 06, 2025	2025 (Q3)	-0.02 / 0.03	0.02	50.00% (<+0.01)	―
Aug 07, 2025	2025 (Q2)	-0.03 / 0.02	-0.03	166.67% (+0.05)	―
May 08, 2025	2025 (Q1)	>-0.01 / 0.05	-0.02	350.00% (+0.07)	―	―
Mar 06, 2025	2024 (Q4)	0.03 / 0.03	-0.06	150.00% (+0.09)	―
Nov 07, 2024	2024 (Q3)	-0.02 / 0.02	-0.02	200.00% (+0.04)	―
Aug 08, 2024	2024 (Q2)	-0.01 / -0.03	-0.04	25.00% (+0.01)	―
May 09, 2024	2024 (Q1)	-0.04 / -0.02	-0.03	33.33% (<+0.01)	―
Mar 07, 2024	2023 (Q4)	-0.03 / -0.06	-0.07	14.29% (+0.01)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

NEPH Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Mar 12, 2026	$3.80	$3.50	-7.89%
Nov 06, 2025	$5.20	$4.60	-11.54%
Aug 07, 2025	$2.89	$3.90	+34.95%
May 08, 2025	$1.99	$1.90	-4.52%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Nephros Inc (NEPH) report earnings?

Nephros Inc (NEPH) is schdueled to report earning on May 07, 2026, TBA (Confirmed).

What is Nephros Inc (NEPH) earnings time?

Nephros Inc (NEPH) earnings time is at May 07, 2026, TBA (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is NEPH EPS forecast?

NEPH EPS forecast for the fiscal quarter 2026 (Q1) is 0.01.