Filing Flows › Nephros (NEPH) › Q2 2026
Nephros (NEPH) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 10, 2026
Nephros (NEPH) reported revenue of $6.0M for the second quarter 2026 (Q2 2026), +36% from a year earlier and +15% from the quarter before. Operating margin was 20.2%, net earnings $1.2M (19.9% of revenue).
Nephros, Q2 2026: revenue $6.0M (+36% year over year), operating margin 20.2%, net earnings $1.2M, operating cash flow $681K. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.0M | +15% | +36% |
| Gross profit | $4.0M | +35% | +44% |
| Operating profit | $1.2M | 13× | +389% |
| Net earnings | $1.2M | +755% | +405% |
| Operating cash flow | $681K | — | -31% |
What changed
Revenue was $6.0M in Q2 2026, up 36% year over year and up 15% from the previous quarter. Product was the largest line at 95% of revenue. Product added $1.4M year over year (up 32%), 87% of the total change.
Gross margin was 66.9%, up 3.7 points from Q2 2025. Operating profit was $1.2M, a 20.2% margin (up 14.5 points year over year). Of the extra revenue versus Q2 2025, 60% reached operating profit, above the 6% margin then. Operating expenses grew 10% against revenue growth of 36%. The fastest-growing cost line was Research & development (+18%). Net earnings were $1.2M, up 405% year over year. The effective tax rate was 1.1%.
Operating cash flow was $681K (down 31% year over year), 57% of net earnings. Non-cash charges added back $29K of depreciation and amortization and $61K of share-based compensation. Working capital and other items used $606K.
Questions
What was Nephros' revenue in the second quarter 2026?
Nephros (NEPH) reported revenue of $6.0M for the second quarter 2026 (Q2 2026), +36% from a year earlier and +15% from the quarter before.
Was Nephros profitable in the second quarter 2026?
Operating profit was $1.2M (20.2% of revenue) and net earnings $1.2M.
Source: Nephros 10-Q on SEC EDGAR.