NEPHROS INC
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $18.8M | $14.2M | $14.2M | $10.0M | $10.2M |
| Cost of revenue | $7.2M | $5.4M | $5.8M | $5.2M | $4.6M |
| Gross profit | $11.6M | $8.7M | $8.4M | $4.7M | $5.6M |
| Selling, general & administrative | $9.0M | $7.7M | $8.9M | $7.6M | $7.2M |
| Research and development | $1.3M | $906,000 | $873,000 | $1.3M | $1.5M |
| Operating expenses | $10.5M | $8.7M | $10.0M | $9.1M | $8.9M |
| Operating income | $1.1M | $6,000 | -$1.6M | -$4.3M | -$3.3M |
| Interest expense | $1,000 | $1,000 | $2,000 | $20,000 | $41,000 |
| Pretax income | $1.2M | $89,000 | -$1.6M | — | — |
| Income tax expense | $12,000 | $15,000 | $0 | $0 | $0 |
| Net income | $1.2M | $74,000 | -$1.6M | -$7.1M | -$3.9M |
| Balance Sheet | |||||
| Cash and equivalents | $5.4M | $3.8M | $4.3M | $3.6M | $7.0M |
| Current assets | $11.2M | $8.3M | $8.4M | $8.3M | $13.6M |
| Total assets | $13.6M | $11.2M | $11.9M | $11.0M | $17.6M |
| Current liabilities | $2.8M | $1.6M | $2.1M | $1.4M | $2.4M |
| Total liabilities | $3.4M | $2.6M | $3.5M | $2.1M | $2.9M |
| Stockholders' equity | $10.2M | $8.6M | $8.4M | $5.6M | $11.7M |
| Cash Flow Statement | |||||
| Cash from operations | $1.6M | -$492,000 | $827,000 | -$3.2M | -$1.4M |
| Depreciation and amortization | $55,000 | $46,000 | $39,000 | $93,000 | $38,000 |
| Stock-based compensation | $296,000 | $153,000 | $1.1M | $982,000 | $1.3M |
| Capital expenditure | — | $55,000 | $75,000 | $137,000 | $36,000 |
| Free cash flow | — | -$547,000 | $752,000 | -$3.4M | -$1.5M |
| Impairments | $0 | $0 | $0 | $1.0M | $0 |
Shares outstanding 10.9M · Free float 13.1%
Annual filing data through FY ended December 31, 2025; float as of July 12, 2026.