Nephros(NEPH)

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Nephros(NEPH) - 2022 Q3 - Quarterly Report
2022-11-15 21:27
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: _______ to _______ Commission File Number: 001-32288 NEPHROS, INC. (Exact name of registrant as specified in its charter) DELAWARE 13-3971809 (State or o ...
Nephros(NEPH) - 2022 Q3 - Earnings Call Transcript
2022-11-06 07:29
Financial Data and Key Metrics Changes - Net revenue for Q3 2022 was $2.4 million, a decrease of 7% year-over-year and 16% compared to the previous quarter [10] - Loss from continuing operations increased to $1.3 million from $0.8 million in Q3 2021, primarily due to changes in inventory reserve policy [14] - Consolidated adjusted EBITDA improved to negative $304,000 from negative $394,000 in Q3 2021, reflecting cost-reduction efforts [15] - Consolidated gross margins decreased to 32% from 53% in Q3 2021, impacted by the slow-moving inventory reserve policy [15] Business Line Data and Key Metrics Changes - Active customer sites increased by 18% year-over-year to a record 1,391 sites, with customer retention rates steady at over 90% [10] - Medical water filtration segment showed strong performance with record numbers of active customer sites and strong sales of filter evaluation kits [12] - Specialty Renal Products segment is in development for a commercial launch anticipated by the end of 2022 [13] Market Data and Key Metrics Changes - The company experienced a revenue reduction of approximately $200,000 from a large customer due to unrelated regulatory issues, which have since been resolved [11] - The company noted that competitors are facing supply chain issues, which may have contributed to gaining market share [35] Company Strategy and Development Direction - The company is focused on achieving profitability and positive cash flow by mid-2023, with ongoing cost-saving measures [12] - The sale of the pathogen detection systems business is expected to reduce expenses by more than $300,000 per quarter and allow the company to focus on core operations [12][25] - The company is committed to investments in scalable commercial and operational infrastructures for long-term sustainable growth [18] Management Comments on Operating Environment and Future Outlook - Management acknowledged the impact of the COVID-19 pandemic and regulatory challenges on operations and revenue [5] - The company expects to see a narrowing of cash usage gap as it approaches cash flow breakeven in mid-2023 [26] - Management expressed confidence in the potential future cash generation from the sale of the PDS segment, despite not expecting significant immediate returns [25] Other Important Information - The company reported a cash balance of $3.9 million as of September 30, 2022, which is believed to be sufficient for the foreseeable future [16] - The company is implementing a new slow-moving inventory reserve policy, which has led to increased inventory reserves and net losses [9] Q&A Session Summary Question: Can you explain the charge related to the slow-moving inventory? - Management explained that the change in policy was due to a careful review of the commercial business, leading to a more aggressive reserve for slow-moving inventory [21] Question: How do new customers compare to the existing customer base? - Management indicated a healthy mix of new large customers with potential for significant revenue alongside smaller customers, contributing to an 18% increase in active customers [22] Question: What is the expectation for cash usage until positive cash flow is achieved? - Management expects variability in cash usage but anticipates a narrowing of the gap in operating income as they approach cash flow breakeven [26] Question: Is there any anticipated cash closing costs associated with the PDS sale? - Management confirmed that they have accrued for expected closing costs and do not anticipate significant additional costs in Q4 [55]
Nephros(NEPH) - 2022 Q2 - Quarterly Report
2022-08-15 20:45
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (State or other jurisdiction of incorporation or organization) 380 Lackawanna Place South Orange, NJ 07079 (Address of principal executive offices) (Zip Code) (201) 343-5202 Registrant's tel ...
Nephros(NEPH) - 2022 Q2 - Earnings Call Transcript
2022-08-11 01:32
Nephros, Inc. (NASDAQ:NEPH) Q2 2022 Earnings Conference Call August 10, 2022 4:30 PM ET Company Participants Stephanie Prince - PCG Advisory, IR Andy Astor - President and CEO Conference Call Participants Marc Wiesenberger - B. Riley FBR Ralph Weil - R. Weil Investment Management Neil Cataldi - Blueprint Capital Operator Good afternoon. And welcome to the Nephros Incorporated Second Quarter 2022 Financial Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After to ...
Nephros(NEPH) - 2022 Q1 - Earnings Call Transcript
2022-05-07 13:16
Nephros, Inc. (NASDAQ:NEPH) Q1 2022 Earnings Conference Call May 4, 2022 4:30 PM ET Company Participants Kirin Smith - President, PCG Advisory Andy Astor - President and Chief Executive Officer Wes Lobo - Chief Commercial Officer Conference Call Participants Anthony Vendetti - Maxim Group Sahil Kazmi - B. Riley Securities Operator Good day and welcome to the Nephros, Inc. First Quarter 2022 Financial Results Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please not ...
Nephros(NEPH) - 2022 Q1 - Quarterly Report
2022-05-05 14:53
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: _______ to _______ Commission File Number: 001-32288 NEPHROS, INC. (Exact name of registrant as specified in its charter) DELAWARE 13-3971809 (State or other ...
Nephros(NEPH) - 2021 Q4 - Annual Report
2022-03-03 21:30
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-32288 NEPHROS, INC. (Exact name of registrant specified in its charter) (State or Other Jurisdiction of Incorporation or Organization) Delaware 13-39 ...
Nephros(NEPH) - 2021 Q4 - Earnings Call Transcript
2022-02-24 01:44
Financial Data and Key Metrics Changes - The company reported fourth quarter net revenue of $2.8 million, an 18% increase over the prior year, and full-year revenue of $10.4 million, a 22% increase over the prior year, marking a record revenue year for the company [23][24]. - The net consolidated loss for the quarter was $1 million, compared to $0.8 million in 2020, while the net consolidated loss for the year was $3.9 million, compared to $4.5 million in 2020 [24]. - Consolidated adjusted EBITDA for the quarter was negative $0.4 million, compared to negative $0.5 million in 2020, and for the year, it was negative $2.6 million, compared to negative $3.6 million in 2020 [24][26]. - Consolidated gross margins for the quarter were 53%, down from 56% in 2020, and for the year, gross margins were 55%, down from 57% in 2020 [24][25]. Business Line Data and Key Metrics Changes - The company is now shipping filters for a national quick-service restaurant deal, expected to add approximately $250,000 in revenue in 2022 [6]. - The company has become a strategic supplier for two major dialysis companies, expecting these deals to add at least $500,000 in revenue over the next 12 months [6][18]. - The Pathogen Detection Systems group has achieved CDC's elite certification, enhancing the company's position in the microbiological testing space [8]. Market Data and Key Metrics Changes - The healthcare market is expected to grow at mid-single digits in 2022 and 2023, driven by new construction and retrofit expansion spending [14]. - The company has identified over 50,000 healthcare locations in the U.S. as potential markets for its products [14]. Company Strategy and Development Direction - The company aims to accelerate growth by investing in scalable commercial and operational infrastructures while balancing short-term results with long-term sustainable growth [27]. - The company is focusing on expanding its presence in healthcare, dialysis water purification, and commercial filtration markets, particularly in food service and beverage sectors [18][19]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in returning to growth performance, with expectations for increased acceleration in the second half of 2022 due to scalable infrastructure [10][31]. - The company anticipates that the new CMS guidelines on water management will positively influence growth, similar to the impact seen from guidelines introduced in 2017 [35][36]. Other Important Information - The company plans to launch a new website and lead generation infrastructure within the next 45 to 60 days [9][12]. - The cash balance as of December 31, 2021, was $7 million [26]. Q&A Session Summary Question: Can you provide details on the commercial opportunities and their scale? - Management confirmed that the national rollout for the quick-service restaurant deal is not a pilot and will add about $250,000 in revenue in 2022 [30]. Question: What is the expected sales distribution between the first and second halves of the year? - Management indicated that while the second half typically represents a significant portion of sales, this year’s growth is expected to be driven by scalable infrastructure rather than market trends alone [31]. Question: How does the emergency response segment compare to pre-COVID levels? - Emergency response was significantly depressed in 2020 but returned to normal levels in 2021, with expectations of maintaining around 15% of revenue from this segment [33]. Question: How is the company responding to the new water management standards? - Management noted that while it is too early to quantify the impact of the new standards, there is increased interest from healthcare facilities in water management solutions [40][41]. Question: What is the status of the Specialty Renal Products and FDA submission? - The company plans to resubmit for FDA clearance by the end of Q1 2022, with a 90-day review period expected after resubmission [42][43]. Question: Can you elaborate on the QSR opportunity and its development? - Management indicated that the QSR opportunity has been in development for over a year, and the successful contract is expected to enhance the company's reputation and lead to additional business [49].
Nephros(NEPH) - 2021 Q3 - Earnings Call Transcript
2021-11-07 10:40
Nephros, Inc. (NASDAQ:NEPH) Q4 2020 Earnings Conference Call November 4, 2021 4:30 PM ET Company Participants Andy Astor - President & Chief Executive Officer Kirin Smith - PCG Advisory Conference Call Participants Marc Wiesenberger - B Riley Securities Ralph Weil - R. Weil Investment Management Operator Good day and welcome to Nephros, Inc. Third Quarter 2021 Financial Results conference call. [Operator Instructions] I would now like to turn the conference over to Mr. Kirin Smith. Please proceed. Kirin Smi ...
Nephros(NEPH) - 2021 Q3 - Quarterly Report
2021-11-04 20:17
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: _______ to _______ Commission File Number: 001-32288 NEPHROS, INC. (Exact name of registrant as specified in its charter) DELAWARE 13-3971809 (State or o ...