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Nephros cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$150K in Q3 2026 · −$955K over twelve months

Operating cash flow−$150K
Free cash flow−$150K
Cash / net income-0.3×
Cash conversion cycle194 days

Analysis

In Q3 2026, Nephros generated −$150K of operating cash flow. That is $249K less than in Q3 2025 ($99K).

Over the twelve months to Sep 30, 2026, operating cash flow was −$955K; the largest uses were operating cash flow ($955K), net borrowing (+) / repaid (−) ($5K); besides operations, cash came from other financing ($290K); the cash balance fell by $625K.

Operating cash flow was −$150K against net income of $512K — -0.3× profit, less cash than reported earnings, worth checking against working capital. The largest differences: payables −$1.1M, receivables +$515K, inventory −$414K.

Its cash conversion cycle was 194 days (receivables 63 + inventory 187 − payables 55).

Free cash flow

Nephros: free cash flow by quarterNephros: free cash flow by quarter$1.3MQ4 2024$322KQ1 2025$994KQ2 2025$99KQ3 2025$185KQ4 2025−$1.7MQ1 2026$681KQ2 2026−$150KQ3 2026
Operating cash flow less capital spending.
Nephros: operating cash flow against capital spendingNephros: operating cash flow against capital spendingOperating cash flowCapital spending$1.3M$0Q4 2024$322K$0Q1 2025$994K$0Q2 2025$99K$0Q3 2025$185K$0Q4 2025−$1.7M$0Q1 2026$681K$0Q2 2026−$150K$0Q3 2026
Latest (Q3 2026): Operating cash flow −$150K, Capital spending $0.

Capital allocation, year by year

Nephros: where the cash came from (up) and went (down), by fiscal yearNephros: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsFY2021: Operating cash flow −$1.4MFY2021: Net borrowing −$261KFY2021: Shares issued $204KFY2021: Capital spending −$36KFY2021: Acquisitions −$49K$204KFY2021FY2022: Operating cash flow −$3.2MFY2022: Net borrowing −$283KFY2022: Capital spending −$137KFY2022FY2023: Operating cash flow $827KFY2023: Net borrowing −$78KFY2023: Capital spending −$75K$827KFY2023FY2024: Operating cash flow −$492KFY2024: Net borrowing −$5KFY2024: Capital spending −$55KFY2024FY2025: Operating cash flow $1.6MFY2025: Net borrowing −$5K$1.6MFY2025
Over these 5 years operating cash flow totalled −$2.7M; the largest uses were operating cash flow ($5.1M) and net borrowing ($632K). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$4.5M
Debtnone
Net cash$4.5M
Cash runway4.8 years

Nephros is burning cash: its operations consume cash, a free cash flow of −$955K a year at the current rate against $4.5M of cash and investments: a runway of about 4.8 years before any new financing.

Where the cash came from and went

Nephros: sources (+) and uses (−) of cash, Q3 2026Nephros: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$151KOperating cash flow−$150KNet borrowing (+) / repaid (−)−$1K
Nephros: sources (+) and uses (−) of cash, TTM to Q3 2026Nephros: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow−$955KCash drawn (+) / kept (−)$625KOther financing$290KNot reconciled$45KNet borrowing (+) / repaid (−)−$5K

From profit to cash

Nephros: net income to operating cash flow, Q3 2026Nephros: net income to operating cash flow, Q3 2026Net income$512KDepreciation & amortization$29KStock-based pay$60KReceivables$515KInventory−$414KPayables−$1.1MAccrued liabilities$178KPrepaid and other assets$82KOperating cash flow−$150K
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20266318755194
Q2 20265818778166
Q1 20265113948142
Q4 20254914043146
Q3 20254512439130
Q2 20254911733133
Q1 20254111931129
Q4 20244118835195

Every quarter

QuarterOperating cash flowNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$150K−$1K—$151K−$150K
Q2 2026$681K−$2K—−$679K$681K
Q1 2026−$1.7M−$1K$290K$1.4M−$1.7M
Q4 2025$185K−$1K—−$229K$185K
Q3 2025$99K−$2K—−$97K$99K
Q2 2025$994K−$1K—−$993K$994K
Q1 2025$322K−$1K—−$321K$322K
Q4 2024$1.3M−$1K—−$1.3M$1.3M

Nephros: income statement and cash flow

Nephros, Q3 2026: revenue $5.6M (+18% year over year), operating margin 8.9%. The chart follows the revenue to costs, profit and cash.

Nephros: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.