GlobeNewswire·Nov 5, 2026, 4:10 PM ET

Nephros Announces Strong Third Quarter 2026 Financial Results

NEPH

Nephros, Inc. reported a 18% year-over-year increase in net revenue to $5.6 million for the third quarter ended September 30, 2026.
Core programmatic revenue grew by 8% during the same three-month period compared to the prior year.
Net income for the quarter rose to $0.5 million, up from $0.3 million in the third quarter of 2025.
Adjusted EBITDA for the quarter increased to $0.6 million from $0.4 million in the comparable 2025 period.
The company added approximately 31 new customer sites in the quarter, bringing the total active installed base to a record 1,766 sites.
Healthcare customers represented approximately 64% of the new sites added, while commercial and industrial customers accounted for 17%.
Net revenue for the nine months ended September 30, 2026, increased 20% to $16.9 million, with core programmatic revenue growing 19%.
Gross margin for the third quarter was 58%, a decrease from 61% in the prior year, primarily due to higher shipping costs, tariffs, and a mix shift toward lower-margin service revenue.
Cost of goods sold for the nine-month period increased 26% to $6.5 million, though this was partially offset by a $0.6 million IEEPA tariff refund.
Selling, general, administrative expenses for the quarter were $2.4 million, reflecting increases in headcount and professional fees.
Research and development expenses decreased by 2% to approximately $331,000 for the quarter.
As of September 30, 2026, the company held $4.5 million in cash equivalents and remained debt-free.
Trailing twelve-month revenue exceeded $21 million as the company enters the final quarter of 2026.
The Nephros Water Institute continues to serve as a third pillar of the business alongside products and services through educational webinars.
Total assets increased to $15.3 million as of September 30, 2026, from $13.6 million at the end of 2025.

Company: Nephros, Inc.
Keywords: Nasdaq:NEPH, Nephros, Inc., NASDAQ:NEPH, Water Filter Technology, Water Treatment, Nephros