NEPHROS INC — Form 8-K
Filed August 6, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 62/100
What the filing says
Nephros reported Q2 2026 net revenue of $6.0M (up 36% YoY from $4.4M), with core programmatic revenue growing 27%. Net income was $1.2M vs. $0.2M prior year, including a ~$0.6M one-time tariff refund from an invalid IEEPA tariff declared unconstitutional in February 2026 and recovered via CBP refund process. Adjusted EBITDA was $1.3M vs. $0.4M. Cash position: $4.7M (down from $5.4M at year-end 2025), debt-free. Six-month revenue: $11.2M (up 21% from $9.3M); six-month net income: $1.3M vs. $0.8M.
Why this rating
36% revenue growth to record $6M quarterly is strong for $27M market-cap microcap; tariff refund is one-time but core programmatic +27% and service revenue tripling are organic drivers. Profitability inflection material. However, cash declined and absolute scale remains modest; event is meaningful but not transformational.
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