NEPH NEPHROS INC
Price Chart
Executive Summary
Nephros reported Q1 2026 revenue of $5.2M, up 7% YoY, but net income fell sharply to $140k from $558k due to tariff costs, FX headwinds, and a shift toward lower-margin commercial products. Gross margin contracted to 57% from 65%, though core programmatic revenue grew 23%.
Key Financial Metrics
Actionable Insight
Gross margin trajectory is the key variable — watch Q2 for tariff mitigation progress and commercial mix stabilization. Programmatic revenue strength supports revenue growth but earnings need to recover to regain investor confidence.
Key Facts
- Q1 2026 revenue: $5.2M vs $4.9M YoY, +7%
- Net income: $140k vs $558k YoY, down 75%
- Gross margin: 57% vs 65% YoY, down 800 bps
- Programmatic revenue grew 23% YoY
- Cash: $4.0M at Mar 31, 2026 vs $5.4M at Dec 31, 2025
Financial Impact
Net income decreased $418k YoY; gross margin compressed 8 percentage points to 57%
Risk Factors
- Tariff exposure (~$200k impact in Q1) and Euro strength continue to pressure margins
- Commercial mix shift may structurally lower gross margins
- Cash burn of $1.4M in Q1 may require financing if not reversed
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-021734 |
| Document: form8-k.htm | 0001493152-26-021734 |
| Document: 0001493152-26-021734-index-headers.html | 0001493152-26-021734 |
| Document: 0001493152-26-021734-index.html | 0001493152-26-021734 |
| Document: 0001493152-26-021734.txt | 0001493152-26-021734 |
| 8-K Data (Synthetic) | 0001493152-26-021734 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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May 7, 2026
4w ago
|
8-K
| $3.52 $3.42 | ▼ −2.84% | ▼ −2.86% | $3.39 (−3.69%) |
|
Apr 30, 2026
5w ago
|
Press Release
| $3.11 $3.69 | ▲ +18.65% | ▲ +13.38% | $3.39 (+9.00%) |
|
Mar 12, 2026
12w ago
|
Press Release
| $3.50 $2.91 | ▼ −16.86% | ▼ −20.45% | $3.39 (−3.14%) |
|
Mar 5, 2026
13w ago
|
Press Release
| $3.89 $2.87 | ▼ −26.22% | ▼ −22.43% | $3.39 (−12.85%) |
US Market Status
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