Filing Flows › Nephros (NEPH) › Q1 2025
Nephros (NEPH) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 15, 2025
Nephros (NEPH) reported revenue of $4.9M for the first quarter 2025 (Q1 2025), +38% from a year earlier and +26% from the quarter before. Operating margin was 11.6%, net earnings $558K (11.4% of revenue).
Nephros, Q1 2025: revenue $4.9M (+38% year over year), operating margin 11.6%, net earnings $558K, operating cash flow $322K. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.9M | +26% | +38% |
| Gross profit | $3.2M | +27% | +44% |
| Operating profit | $566K | +79% | — |
| Net earnings | $558K | +60% | — |
| Operating cash flow | $322K | -75% | — |
What changed
Revenue was $4.9M in Q1 2025, up 38% year over year and up 26% from the previous quarter. Product was the largest line at 96% of revenue. Product added $1.2M year over year (up 34%), 89% of the total change.
Gross margin was 64.7%, up 2.6 points from a year earlier. Operating profit was $566K, a 11.6% margin (up 17.3 points year over year). Operating expenses grew 8% against revenue growth of 38%. The fastest-growing cost line was Research & development (+39%). Net earnings were $558K. The effective tax rate was 0.0%.
Operating cash flow was $322K, 58% of net earnings. Non-cash charges added back $39K of depreciation and amortization and $76K of share-based compensation. Working capital and other items used $351K.
Questions
What was Nephros' revenue in the first quarter 2025?
Nephros (NEPH) reported revenue of $4.9M for the first quarter 2025 (Q1 2025), +38% from a year earlier and +26% from the quarter before.
Was Nephros profitable in the first quarter 2025?
Operating profit was $566K (11.6% of revenue) and net earnings $558K.
Source: Nephros 10-Q on SEC EDGAR.