Nephros sees Q1 revenue $3.7M, up 69% vs. last year

"We are very pleased with first-quarter revenue, which we believe reflects the impact of recent investments in our field sales organization," said Andy Astor, President and Chief Executive Officer of Nephros. "It is noteworthy that while this quarter’s revenue was enhanced by an unusually large emergency response order, our base revenue is expected to exceed $3.0 million, representing an approximate 40% increase over last year. We are also pleased to report that we expect cash flows from water filtration operations to be at least break-even for the first quarter, and we believe the strength of our business remains on track for generating consistent positive cash flows by the middle of 2023." Nephros ended the first quarter with approximately $3.8 million in cash on a consolidated basis, compared with $3.6 million as of December 31, 2022.