Filing Flows › Nephros (NEPH) › Q2 2026 › vs Q1 2026
Nephros (NEPH) Q2 2026 vs Q1 2026 (quarter over quarter)
Nephros's revenue rose $805K (+15%) from $5.2M in Q1 2026 to $6.0M in Q2 2026. The biggest changes: Product +$661K (+13%); Service Royalty and Other Revenues +$144K (+84%). Gross margin 66.9% against 57.4% (+9.5 pts).
Nephros, Q2 2026: revenue $6.0M (+36% year over year), operating margin 20.2%, net earnings $1.2M, operating cash flow $681K. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 66.9% | 57.4% | +9.5 pts |
| Operating margin | 20.2% | 1.9% | +18.3 pts |
| Net margin | 19.9% | 2.7% | +17.2 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Product | $5.7M | $5.0M | $661K | +13% |
| Service Royalty and Other Revenues | $316K | $172K | $144K | +84% |
| Revenue | $6.0M | $5.2M | $805K | +15% |
| Gross profit | $4.0M | $3.0M | $1.0M | +35% |
| Cost of revenue | $2.0M | $2.2M | −$228K | -10% |
| Operating profit | $1.2M | $97K | $1.1M | 13× |
| Operating expenses | $2.8M | $2.9M | −$83K | -3% |
| Pre-tax earnings | $1.2M | $140K | $1.1M | +764% |
| Research & development | $366K | $346K | $20K | +6% |
| SG&A | $2.4M | $2.5M | −$103K | -4% |
| Other operating costs | $29K | $29K | $0 | 0% |
| Net earnings | $1.2M | $140K | $1.1M | +755% |
| Income tax | $13K | $0 | $13K | — |
| Depreciation & amortization | $29K | $29K | $0 | 0% |
| Share-based compensation | $61K | $60K | $1K | +2% |
| Working capital & other | $606K | $1.9M | −$1.3M | -68% |
| Operating cash flow | $681K | −$1.7M | $2.4M | — |
Questions
How much did Nephros's revenue grow quarter over quarter in Q2 2026?
Nephros's revenue rose $805K (+15%) from $5.2M in Q1 2026 to $6.0M in Q2 2026.
What drove Nephros's revenue change in Q2 2026?
Product +$661K (+13%); Service Royalty and Other Revenues +$144K (+84%).