Nephros earnings date
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Nephros (NEPH) Q3 2026 Earnings Report
NEPH Q3 2026 EPS Results
- Actual EPS
- $0.05
- Consensus EPS
- $0.02
- Beat/Miss
- Beat by +$0.03
- One Year Ago EPS
- $0.03
NEPH Q3 2026 Revenue Results
- Actual Revenue
- $5.62M
- Expected Revenue
- $5.49M
- Beat/Miss
- Beat by +$130.00K
- YoY Revenue Growth
- +18.01%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/05/2026
- Time
- After Close
- Conference Call
- Thursday, November 5, 2026
Nephros's next earnings date is estimated for March 11, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
The call was strongly positive overall. Nephros reported double-digit revenue growth, higher net income and adjusted EBITDA, a record active customer base, continued programmatic and service expansion, broader market applications, and a debt-free balance sheet. These strengths were partly offset by lower gross margins, higher product and operating costs, volatility in emergency response revenue, long commercial sales cycles, and still-developing education ROI metrics.
Management’s objective for the remainder of 2026 is simple: “finish strong,” entering 2027 with “a large recurring revenue base, deeper customer relationship, and broader market opportunities and infrastructure necessary to support this stage of Nephros’ growth.” Priorities are to take exceptional care of existing customers, expand the installed base, grow programmatic and service revenue, strengthen the educational platform, improve underlying margins, introduce differentiated products, and find new applications and markets; management also expects to continue investing in education as a driver of market development and commercial growth, with 1,766 active customer sites, year-to-date revenue of approximately $16.9 million, revenue growth of 20%, and core programmatic revenue growth of 19% as the current base.
- Strong Third-Quarter Revenue GrowthThird-quarter revenue was approximately $5.6 million, up 18% from approximately $4.8 million in the third quarter of 2025. Management described the quarter as another strong quarter following the record $6 million reported in the second quarter.
- Nine-Month Revenue and Core Programmatic GrowthRevenue for the first nine months of 2026 reached approximately $16.9 million, an increase of 20% from $14.1 million in the same period of 2025. Core programmatic revenue increased approximately 19% during the first nine months, reflecting continued reorder activity and expansion of the active customer base.
- Improved ProfitabilityThird-quarter net income increased to approximately $500,000 from $300,000 in the prior-year period, while adjusted EBITDA increased to approximately $600,000 from $400,000. For the first nine months, net income rose to approximately $1.8 million from $1.1 million, and adjusted EBITDA increased to approximately $2 million from approximately $1.4 million.
- Record Active Customer BaseActive customer sites reached a record 1,766 at the end of the third quarter, including approximately 31 new sites added during the quarter. Management stated that active customers are customers who have reordered within the applicable period, and that all 1,766 active customers contribute to programmatic sales.
- Programmatic Business Supports Recurring DemandProgrammatic product revenue increased approximately 8% in the third quarter versus the prior year. Management emphasized that customer installations can generate future replacement-filter demand, and that follow-up efforts to encourage timely reorders contribute to retention and recurring revenue.
- Growth in Emergency Response and Service RevenueEmergency response revenue contributed meaningfully during the quarter, while service revenue continued to grow. Customers are increasingly asking Nephros to install, replace, and support filtration as part of broader water-management programs.
- Customer and Market DiversificationHealthcare represented 64% of new sites added during the quarter, while approximately 17% came from commercial and industrial customers, with the remainder from government, military, hospitality, residential, retail, and other applications. Management said healthcare remains the largest market while the company is identifying additional applications where water quality matters.
- Expansion of Product ApplicationsNephros has expanded its product portfolio into sterile processing, PFAS, microplastics, nanoplastics, drinking water, commercial filtration, and other emerging water-quality challenges. Management also cited applications involving emergency eyewash stations and the removal of bacteria, viruses, and endotoxins from water.
- Three-Pillar Commercial StrategyThe company is building around products, service, and education. Products remain the foundation, service helps customers deploy and maintain solutions, and education is intended to engage customers earlier in the decision-making process and establish Nephros as a trusted water-quality resource.
- Education Initiative Gaining MomentumThe Nephros Water Institute continued a strong series of educational webinars for healthcare professionals and other customers. Management said the initiative is generating engagement, qualified opportunities, market feedback, and customer relationships, and that the company expects to continue investing in education as a driver of market development and commercial growth.
- Robust New Product PipelineManagement said Nephros maintains a robust new-product pipeline informed by feedback from industry professionals and professional organizations. New products are evaluated through business cases intended to identify attractive returns and the best use of company resources.
- Commercial Partner TractionManagement cited renewed focus and good traction from commercial partners such as Donastar. Partner-led sales can involve enterprise-level or multi-site deals, with adoption occurring over several months after a deal is closed.
- Strong Liquidity and No DebtAs of September 30, 2026, Nephros had approximately $4.5 million in cash and cash equivalents and remained debt-free.
- Geographic Expansion InitiativesThe customer base generally mirrors the geographic concentration of U.S. healthcare systems and facilities. Management has deployed resources to increase penetration in areas where the company believes it is not receiving its fair share, including initiatives in Puerto Rico and New York City.
- Long-Term Growth PrioritiesManagement's priorities for the remainder of 2026 include expanding the installed base, growing programmatic and service revenue, strengthening the education platform, improving underlying margins, introducing differentiated products, and finding new applications and markets. The company aims to enter 2027 with a larger recurring revenue base, deeper customer relationships, and broader market opportunities.
NEPH Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 11, 2027 | 2026 (Q4) | 0.02- | 0.01 | ― | ― |
| Nov 05, 2026 | 2026 (Q3) | 0.020.05 | 0.03 | 66.67% (+0.02) | |
| Aug 06, 2026 | 2026 (Q2) | 0.000.11 | 0.02 | 450.00% (+0.09) | |
| May 07, 2026 | 2026 (Q1) | 0.010.01 | 0.05 | -80.00% (-0.04) | |
| Mar 12, 2026 | 2025 (Q4) | 0.010.01 | 0.03 | -66.67% (-0.02) | |
| Nov 06, 2025 | 2025 (Q3) | -0.020.03 | 0.02 | 50.00% (+0.01) | |
| Aug 07, 2025 | 2025 (Q2) | -0.030.02 | -0.03 | 166.67% (+0.05) | |
| May 08, 2025 | 2025 (Q1) | -0.010.05 | -0.02 | 350.00% (+0.07) | |
| Mar 06, 2025 | 2024 (Q4) | 0.030.03 | -0.06 | 150.00% (+0.09) | |
| Nov 07, 2024 | 2024 (Q3) | -0.020.02 | -0.02 | 200.00% (+0.04) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
