Nephros reports FY2022 net revenue $10M; net loss widens to $4.3M; subsidiary SRP winding down

NEPHROS INC

Net revenue from continuing operations: $10.0M in FY2022 (-2% YoY); Q4 $2.6M (-6% YoY).
Net loss from continuing operations: $4.3M in FY2022 vs $2.8M loss in 2021; Q4 loss $0.7M flat.
Gross margins improved to 59% in Q4 (vs 54% prior year); full-year margins 47% (vs 55%).
Majority-owned subsidiary SRP to wind down after failing to find strategic partner; expects cessation in Q2 2023.
Cash and equivalents $3.6M at Dec 31, 2022; targeting cash flow breakeven by mid-2023.

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 fourth quarter and fiscal year ended December 31, 2022 results: revenue $2.6 million (Q4); $10.0 million (FY), net income ($0.7 million) (Q4); ($4.3 million) (FY).

Period: fourth quarter and fiscal year ended December 31, 2022
Revenue: $2.6 million (Q4); $10.0 million (FY)
Net income: ($0.7 million) (Q4); ($4.3 million) (FY)
Result: reported results

Exact text from the filing

Nephros Announces Fourth Quarter and Fiscal Year 2022 Financial Results Full-Year Net Revenue of $10 Million and Fourth Quarter Net Revenue of $2.6 Million

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Source: SEC EDGAR

accession 0001493152-23-007004

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