Nephros Q3 net revenue $2.4M (-7% YoY); net loss widens to $1.3M; sells PDS business

NEPHROS INC

2023-Q3 EPS reported -$0.63 revenue$7,417,000

Net revenue from continuing operations $2.4M, down 7% vs Q3 2021; net loss $1.3M vs $0.8M.
Adjusted EBITDA loss from continuing operations -$0.3M, improving from -$0.4M in prior year.
Active Customer Sites grew 18% YoY to a record 1,391; price pull-ahead in Q2 hurt revenue.
Sold Pathogen Detection Systems (PDS) business; reduces quarterly expenses by ~$300K.
Cash and equivalents $3.9M at Sept 30, 2022; management targets positive cash flow by mid-2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NEPHROS INC reported the third quarter ended September 30, 2022 results: revenue $2.4 million, net income $1.3 million.

Period: the third quarter ended September 30, 2022
Revenue: $2.4 million
Net income: $1.3 million
Result: reported results

Exact text from the filing

Net revenue from continuing operations for the quarter ended September 30, 2022, was $2.4 million, compared to $2.6 million in the corresponding period in 2021, a decrease of 7%. Net loss from continuing operations for the quarter ended September 30, 2022, was $1.3 million, compared to $0.8 million during the same period in 2021.

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Source: SEC EDGAR

accession 0001493152-22-030207

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