Nephros Announces Preliminary Results for First Quarter 2023
04 Abril 2023 - 6:30AM
via NewMediaWire – Nephros, Inc. (Nasdaq: NEPH), a leading water
technology company providing filtration solutions to the medical
and commercial markets, today announced preliminary revenue results
for the quarter ended March 31, 2023.
Nephros expects net revenue for the quarter ended March 31, 2023
to be approximately $3.7 million, a 69% increase from the quarter
ended March 31, 2022.
“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.”
Mr. Astor continued, “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.
The company will announce its first quarter results on
Wednesday, May 10, 2023, after market close and host a conference
call that same day at 4:30pm ET.
About Nephros
Nephros is committed to improving the human relationship with
water through leading, accessible technology. We provide innovative
water filtration products and services, along with water-quality
education, as part of an integrated approach to water safety.
Nephros goods serve the needs of customers within the healthcare
and commercial markets, offering both proactive and emergency
solutions for water management.
For more information about Nephros, please visit us at
nephros.com.
Forward-Looking Statements
This release contains forward-looking statements that are
subject to various risks and uncertainties. Such statements include
statements regarding Nephros’ expected revenue and cash flows for
the quarter ended March 31, 2023, expected future revenue growth
and the timing of such growth, the timing of achieving positive
cash flows and other statements that are not historical facts,
including statements that may be accompanied by the words
“intends,” “may,” “will,” “plans,” “expects,” “anticipates,”
“projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,”
“potential” or similar words. Actual results could differ
materially from those described in these forward-looking statements
due to certain factors, including changes in business, Nephros’
ability to further develop its sales organization, Nephros’
dependence on third-party suppliers and distributors, inflationary
factors and other economic and competitive conditions, the
availability of capital when needed, and regulatory reforms. These
and other risks and uncertainties are detailed in Nephros’ reports
filed with the U.S. Securities and Exchange Commission. Nephros
does not undertake any responsibility to update the forward-looking
statements in this release.
Investor Relations Contacts:Kirin Smith, PresidentPCG
Advisory, Inc.(646) 823-8656ksmith@pcgadvisory.com
Andy Astor, CEONephros, Inc.(201) 343-5202
x120andy.astor@nephros.com
Nephros (NASDAQ:NEPH)
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