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NEPHROS INC

NEPH Clue Score70
United States Fiscal year ends December CIK 0001196298
$3.53 +7.29% Close, 9 Oct 2026
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Price $3.53 −56.53% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 17 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue2.3Operating income−2.9Net income−3.0Fiscal year 2017Revenue3.8 +64.2%Operating income−2.2Net income−0.8Fiscal year 2018Revenue5.7 +49.3%Operating income−3.0Net income−3.4Fiscal year 2019Revenue10.3 +81.7%Operating income−3.2Net income−3.2Fiscal year 2020Revenue8.6 −17.2%Operating income−4.3Net income−4.5Fiscal year 2021Revenue10.2 +19.3%Operating income−3.3Net income−3.9Fiscal year 2022Revenue10.0 −2.4%Operating income−4.3Net income−7.1EPS, diluted−0.73Fiscal year 2023Revenue14.2 +42.7%Operating income−1.6Net income−1.6EPS, diluted−0.15Fiscal year 2024Revenue14.2 −0.5%Operating income0.0Net income0.1EPS, diluted0.01Fiscal year 2025Revenue18.8 +32.7%Operating income1.1Net income1.2 +1,513.5%EPS, diluted0.11 +1,000.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 2.3 3.8 5.7 10.3 8.6 10.2 10.0 14.2 14.2 18.8
Growth +64.2% +49.3% +81.7% −17.2% +19.3% −2.4% +42.7% −0.5% +32.7%
Operating income −2.9 −2.2 −3.0 −3.2 −4.3 −3.3 −4.3 −1.6 0.0 1.1
Net income −3.0 −0.8 −3.4 −3.2 −4.5 −3.9 −7.1 −1.6 0.1 1.2
Growth +1,513.5%
EPS, diluted n/a n/a n/a n/a n/a n/a −0.73 −0.15 0.01 0.11
Growth +1,000.0%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin55.8%Operating margin−123.7%Net margin−130.7%Free cash flow margin−93.0%Fiscal year 2017Gross margin60.2%Operating margin−58.4%Net margin−21.2%Fiscal year 2018Gross margin56.3%Operating margin−53.0%Net margin−59.8%Fiscal year 2019Gross margin58.9%Operating margin−30.5%Net margin−30.8%Free cash flow margin−22.2%Fiscal year 2020Gross margin57.4%Operating margin−49.9%Net margin−52.9%Free cash flow margin−83.4%Fiscal year 2021Gross margin55.1%Operating margin−31.8%Net margin−37.8%Free cash flow margin−14.2%Fiscal year 2022Gross margin47.4%Operating margin−43.5%Net margin−71.2%Free cash flow margin−33.8%Fiscal year 2023Gross margin59.0%Operating margin−11.2%Net margin−11.1%Free cash flow margin5.3%Fiscal year 2024Gross margin61.6%Operating margin0.0%Net margin0.5%Free cash flow margin−3.9%Fiscal year 2025Gross margin61.9%Operating margin6.1%Net margin6.4%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 55.8% 60.2% 56.3% 58.9% 57.4% 55.1% 47.4% 59.0% 61.6% 61.9%
Operating margin −123.7% −58.4% −53.0% −30.5% −49.9% −31.8% −43.5% −11.2% 0.0% 6.1%
Net margin −130.7% −21.2% −59.8% −30.8% −52.9% −37.8% −71.2% −11.1% 0.5% 6.4%
Free cash flow margin −93.0% n/a n/a −22.2% −83.4% −14.2% −33.8% 5.3% −3.9% n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow−2.1Capital expenditure−0.0Free cash flow−2.2Fiscal year 2017Operating cash flow−0.1Fiscal year 2018Operating cash flow−3.7Fiscal year 2019Operating cash flow−2.3Capital expenditure−0.0Free cash flow−2.3Fiscal year 2020Operating cash flow−6.9Capital expenditure−0.2Free cash flow−7.1Fiscal year 2021Operating cash flow−1.4Capital expenditure−0.0Free cash flow−1.5Fiscal year 2022Operating cash flow−3.2Capital expenditure−0.1Free cash flow−3.4Fiscal year 2023Operating cash flow0.8Capital expenditure−0.1Free cash flow0.8Fiscal year 2024Operating cash flow−0.5Capital expenditure−0.1Free cash flow−0.5 −172.7%Fiscal year 2025Operating cash flow1.6
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −2.1 −0.1 −3.7 −2.3 −6.9 −1.4 −3.2 0.8 −0.5 1.6
Capital expenditure −0.0 n/a n/a −0.0 −0.2 −0.0 −0.1 −0.1 −0.1 n/a
Free cash flow −2.2 n/a n/a −2.3 −7.1 −1.5 −3.4 0.8 −0.5 n/a
Growth −172.7%

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Shareholders’ equity0.7Fiscal year 2017Shareholders’ equity2.0Fiscal year 2018Total debt1.0Shareholders’ equity3.8Debt to equity0.27Fiscal year 2019Cash4.2Total debt0.8Net cash (debt)3.3Shareholders’ equity4.7Debt to equity0.18Fiscal year 2020Cash8.2Total debt0.6Net cash (debt)7.7Shareholders’ equity12.5Debt to equity0.05Fiscal year 2021Cash7.0Total debt0.3Net cash (debt)6.6Shareholders’ equity11.7Debt to equity0.03Fiscal year 2022Cash3.6Total debt0.1Net cash (debt)3.6Shareholders’ equity5.6Debt to equity0.01Fiscal year 2023Cash4.3Shareholders’ equity8.4Fiscal year 2024Cash3.8Shareholders’ equity8.6Fiscal year 2025Cash5.4Shareholders’ equity10.2
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash n/a n/a n/a 4.2 8.2 7.0 3.6 4.3 3.8 5.4
Total debt n/a n/a 1.0 0.8 0.6 0.3 0.1 n/a n/a n/a
Net cash (debt) n/a n/a n/a 3.3 7.7 6.6 3.6 n/a n/a n/a
Shareholders’ equity 0.7 2.0 3.8 4.7 12.5 11.7 5.6 8.4 8.6 10.2
Debt to equity n/a n/a 0.27 0.18 0.05 0.03 0.01 n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
2.3 3.8 5.7 10.3 8.6 10.2 10.0 14.2 14.2 18.8
Growth +64.2% +49.3% +81.7% −17.2% +19.3% −2.4% +42.7% −0.5% +32.7%
n/a 1.5 2.5 4.3 3.6 4.6 5.2 5.8 5.4 7.2
1.3 2.3 3.2 6.1 4.9 5.6 4.7 8.4 8.7 11.6
Growth +77.1% +39.7% +89.9% −19.2% +14.7% −16.0% +77.7% +3.8% +33.3%
n/a n/a 1.5 3.1 2.8 1.5 1.3 0.9 0.9 1.3
2.9 3.3 4.5 6.1 6.5 7.2 7.6 8.9 7.7 9.0
−2.9 −2.2 −3.0 −3.2 −4.3 −3.3 −4.3 −1.6 0.0 1.1
Growth +19,000.0%
−3.0 −2.6 −3.4 −3.4 −4.5 n/a n/a −1.6 0.1 1.2
n/a −1.8 −0.1 −0.2 n/a 0.0 0.0 0.0 0.0 0.0
−3.0 −0.8 −3.4 −3.2 −4.5 −3.9 −7.1 −1.6 0.1 1.2
Growth +1,513.5%
Per share
n/a n/a n/a n/a n/a −0.41 −0.73 −0.15 0.01 0.11
n/a n/a n/a n/a n/a n/a −0.73 −0.15 0.01 0.11
Growth +1,000.0%
n/a n/a n/a n/a n/a 10.0 10.3 10.4 10.5 10.6
n/a n/a n/a n/a n/a n/a 10.3 10.4 10.6 11.0
Growth +0.9% +2.1% +3.5%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 17.0% a year over five years.
  • Operating margin is up 56.0 points on five years ago, at 6.1%.
  • A net loss in 8 of 10 years on file.