---
schema_version: "secwatch.filing_event.v1"
accession: "0001641172-25-009262"
form_type: "8-K"
ticker: "NEPH"
cik: "0001196298"
company_name: "NEPHROS INC"
filed_at: "2025-05-08T23:59:59+00:00"
generated_at: "2026-05-22T03:15:33.758649+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Nephros Q1 2025 revenue $4.9M (+38% YoY), net income $558K, adjusted EBITDA $667K

## Summary
- Net revenue $4.9M, up 38% from $3.5M in Q1 2024; core programmatic revenue grew 23%.
- Net income of $558,000 vs net loss of ($169,000) in Q1 2024; adjusted EBITDA $667,000 vs ($95,000).
- Gross margin improved to 65% from 62%; record active sites of 1,600.
- Cash and equivalents $4.1M, debt-free.
- Management notes Q1 included elevated emergency business not expected to persist; tariff uncertainties but strong positioning.

## SEC filing metadata
- accession: 0001641172-25-009262
- form_type: 8-K
- ticker: NEPH
- cik: 0001196298
- company_name: NEPHROS INC
- filed_at: 2025-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1196298/000164117225009262/0001641172-25-009262-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1196298/000164117225009262/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001641172-25-009262
- JSON: https://secwatch.observer/filing/0001641172-25-009262.json
- Plain text: https://secwatch.observer/filing/0001641172-25-009262.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.