# Nephros Inc: overview NEPH · Nasdaq · CIK 1196298 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31 Pages: [Overview](/companies/neph.md) · [Financials](/companies/neph/financials.md) · [Filings](/companies/neph/filings.md) · [Insiders](/companies/neph/insiders.md) Latest reported revenue: [$6.0m](/filings/0001493152-26-036851.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 10, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001493152-26-036851). ## Last eight quarters | Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | | --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Revenue | $k | [3,518](/filings/0001493152-25-021061.md) | [3,870 d](/filings/0001493152-26-009848.md) | [4,877](/filings/0001493152-26-021701.md) | [4,419](/filings/0001493152-26-036851.md) | [4,764](/filings/0001493152-25-021061.md) | [4,729 d](/filings/0001493152-26-009848.md) | [5,212](/filings/0001493152-26-021701.md) | [6,017](/filings/0001493152-26-036851.md) | | Gross margin | % | [61.1%](/filings/0001493152-25-021061.md) | [64.0% d](/filings/0001493152-26-009848.md) | [64.7%](/filings/0001493152-26-021701.md) | [63.2%](/filings/0001493152-26-036851.md) | [61.2%](/filings/0001493152-25-021061.md) | [58.4% d](/filings/0001493152-26-009848.md) | [57.4%](/filings/0001493152-26-021701.md) | [66.9%](/filings/0001493152-26-036851.md) | | Operating margin | % | [5.9%](/filings/0001493152-25-021061.md) | [8.2% d](/filings/0001493152-26-009848.md) | [11.6%](/filings/0001493152-26-021701.md) | [5.6%](/filings/0001493152-26-036851.md) | [6.6%](/filings/0001493152-25-021061.md) | [0.4% d](/filings/0001493152-26-009848.md) | [1.9%](/filings/0001493152-26-021701.md) | [20.2%](/filings/0001493152-26-036851.md) | | Net margin | % | [5.2%](/filings/0001493152-25-021061.md) | [9.0% d](/filings/0001493152-26-009848.md) | [11.4%](/filings/0001493152-26-036851.md) | [5.4%](/filings/0001493152-26-036851.md) | [7.1%](/filings/0001493152-25-021061.md) | [1.3% d](/filings/0001493152-26-009848.md) | [2.7%](/filings/0001493152-26-036851.md) | [19.9%](/filings/0001493152-26-036851.md) | | Diluted EPS | $ per share | [0.02](/filings/0001493152-25-021061.md) | not reported | [0.05](/filings/0001493152-26-021701.md) | [0.02](/filings/0001493152-26-036851.md) | [0.03](/filings/0001493152-25-021061.md) | not reported | [0.01](/filings/0001493152-26-021701.md) | [0.11](/filings/0001493152-26-036851.md) | | Free cash flow | $k | [(623) d](/filings/0001493152-25-021061.md) | [1,304 d](/filings/0001493152-26-009848.md) | not reported | not reported | not reported | not reported | not reported | not reported | - Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure. - Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure. - Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure. - Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure. - Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted. - Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure. ## Last five fiscal years | Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) | | --- | --- | ---: | ---: | ---: | ---: | ---: | | Revenue | $m | [10.2](/filings/0001493152-23-008716.md) | [10.0](/filings/0001493152-24-010107.md) | [14.2](/filings/0001641172-25-000234.md) | [14.2](/filings/0001493152-26-009848.md) | [18.8](/filings/0001493152-26-009848.md) | | Gross margin | % | [55.1%](/filings/0001493152-23-008716.md) | [47.4%](/filings/0001493152-24-010107.md) | [59.0%](/filings/0001641172-25-000234.md) | [61.6%](/filings/0001493152-26-009848.md) | [61.9%](/filings/0001493152-26-009848.md) | | Operating margin | % | [(31.8%)](/filings/0001493152-23-008716.md) | [(43.5%)](/filings/0001493152-24-010107.md) | [(11.2%)](/filings/0001641172-25-000234.md) | [0.0%](/filings/0001493152-26-009848.md) | [6.1%](/filings/0001493152-26-009848.md) | | Net margin | % | [(37.8%)](/filings/0001493152-22-005976.md) | [(71.2%)](/filings/0001493152-24-010107.md) | [(11.1%)](/filings/0001641172-25-000234.md) | [0.5%](/filings/0001493152-26-009848.md) | [6.4%](/filings/0001493152-26-009848.md) | | Diluted EPS | $ per share | [(0.41)](/filings/0001493152-22-005976.md) | [(0.73)](/filings/0001493152-24-010107.md) | [(0.15)](/filings/0001641172-25-000234.md) | [0.01](/filings/0001493152-26-009848.md) | [0.11](/filings/0001493152-26-009848.md) | | Free cash flow | $m | [(1.5)](/filings/0001493152-23-008716.md) | [(3.4)](/filings/0001493152-24-010107.md) | [0.8](/filings/0001641172-25-000234.md) | [(0.5)](/filings/0001493152-26-009848.md) | not reported | - Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. - Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. - Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. - Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Net income: us-gaap:ProfitLoss. - Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareBasicAndDiluted; Diluted EPS: us-gaap:EarningsPerShareDiluted. - Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing. ## Insider purchases and sales The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/neph/insiders.md) None in coverage. ## Funds that report holding it From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md) | Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before | | --- | --- | ---: | ---: | --- | --- | | [WEXFORD CAPITAL LP](/funds/1048462.md) | 2026-06-30 | $12.9m | 3,600,552 | | Unchanged | | [Topline Capital Management, LLC](/funds/1792549.md) | 2026-06-30 | $1.9m | 535,698 | | Reduced −46,269 | | [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $709.2k | 198,643 | | Unchanged | | [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $460.2k | 128,915 | | Added +18,000 | | [Cornerstone Capital, Inc.](/funds/819535.md) | 2026-06-30 | $459.5k | 128,700 | | Unchanged | | [BARD ASSOCIATES INC](/funds/1105907.md) | 2026-06-30 | $421.3k | 118,003 | | Reduced −3,199 | | [RENAISSANCE TECHNOLOGIES LLC](/funds/1037389.md) | 2026-06-30 | $276.7k | 77,504 | | Reduced −21,896 | | [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $250.9k | 70,263 | | Reduced −2,662 | | [Mesirow Financial Investment Management, Inc.](/funds/1469475.md) | 2026-06-30 | $214.2k | 60,000 | | Reduced −60,000 | | [HighTower Advisors, LLC](/funds/1462245.md) | 2026-06-30 | $213.2k | 59,710 | | Unchanged | ## Recent filings [All 805 filings](/companies/neph/filings.md) | Filed | Accepted | Form | What it is | Accession | | --- | --- | --- | --- | --- | | 2026-10-14 | 20:01 ET | [DEF 14A](/filings/0001493152-26-047012.md) | Proxy statement, period 2026-10-14 | 0001493152-26-047012 | | 2026-10-13 | 20:01 ET | [8-K](/filings/0001493152-26-046814.md) | 5.08 Item not in the standard list; 8.01 Other events; 9.01 Financial statements and exhibits | 0001493152-26-046814 | | 2026-09-16 | 21:16 ET | [SCHEDULE 13D/A](/filings/0001398344-26-017130.md) | Ownership report, active investor, amended | 0001398344-26-017130 | | 2026-08-10 | 20:00 ET | [10-Q](/filings/0001493152-26-036851.md) | Quarterly report, period 2026-06-30 | 0001493152-26-036851 | | 2026-08-06 | 20:02 ET | [8-K](/filings/0001493152-26-036331.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001493152-26-036331 | | 2026-06-15 | 21:43 ET | [8-K](/filings/0001493152-26-028539.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001493152-26-028539 | | 2026-05-07 | 20:36 ET | [8-K](/filings/0001493152-26-021734.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001493152-26-021734 | | 2026-05-07 | 20:00 ET | [10-Q](/filings/0001493152-26-021701.md) | Quarterly report, period 2026-03-31 | 0001493152-26-021701 | | 2026-04-30 | 20:05 ET | [10-K/A](/filings/0001493152-26-020416.md) | Annual report, amended, period 2025-12-31 | 0001493152-26-020416 | | 2026-03-27 | 20:00 ET | [8-K](/filings/0001493152-26-013189.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001493152-26-013189 | ## Latest annual report [Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001493152-26-009848.md), filed Mar 12, 2026. ## Forecast league Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/140cc2ea-c0ea-4ece-8fbf-85eaf3e06772) ## About the filer - CIK: 1196298 - Tickers: NEPH - Exchange: Nasdaq - SIC code: 3841 Surgical & Medical Instruments & Apparatus - State of incorporation: DE - Filer category: Non-accelerated filer
Smaller reporting company Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:35 ET. No prices; not investment advice.