Nephros Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Nephros Inc. filed its Q1 2024 10-Q report, detailing financial positions and customer concentration risks.</b>

AI Summary

NEPHROS INC (NEPH) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Nephros Inc. filed its quarterly report (10-Q) on May 9, 2024, for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. Key financial data from previous periods (Q1 2023, FY 2023, FY 2022) are referenced for comparison. The report details various balance sheet accounts including common stock, additional paid-in capital, and retained earnings as of March 31, 2024, and December 31, 2023. Information regarding customer concentration risk for Customer A and Customer B is included for the periods ending March 31, 2024, and December 31, 2023.

Why It Matters

For investors and stakeholders tracking NEPHROS INC, this filing contains several important signals. This 10-Q filing provides investors with the latest financial snapshot of Nephros Inc., crucial for understanding the company's performance and financial health in the first quarter of 2024. The inclusion of customer concentration risk data highlights potential dependencies on key clients, which could impact future revenue streams.

Risk Assessment

Risk Level: low — NEPHROS INC shows low risk based on this filing. The filing is a standard quarterly report and does not contain immediate red flags or significant negative financial developments, indicating a low level of immediate risk.

Analyst Insight

Monitor future filings for revenue growth trends and any changes in customer concentration risk.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-09 — Filing Date (FILED AS OF DATE)
• 2024-01-01 — Q1 2024 Start Date (Reporting Period)
• 2023-03-31 — Q1 2023 End Date (Prior Period Comparison)

Key Players & Entities

• NEPHROS INC (company) — FILER
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-09 (date) — FILED AS OF DATE
• 0001196298 (company) — CENTRAL INDEX KEY
• 3841 (industry_code) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (location) — STATE OF INCORPORATION
• 1231 (date) — FISCAL YEAR END
• 001-32288 (filing_id) — SEC FILE NUMBER

FAQ

Risk Factors

• Customer Concentration Risk [medium — financial]: The company's revenue may be significantly impacted by the performance of its key customers, Customer A and Customer B.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-09: Filing Date — Date the 10-Q was officially filed with the SEC.

Key Financial Figures

• $0.001 — ch registered Common stock, par value $0.001 per share NEPH The Nasdaq Stock Mar

Filing Documents

• form10-q.htm (10-Q) — 599KB
• ex31-1.htm (EX-31.1) — 13KB
• ex31-2.htm (EX-31.2) — 12KB
• ex32-1.htm (EX-32.1) — 8KB
• ex32-2.htm (EX-32.2) — 8KB
• 0001493152-24-018483.txt (&nbsp;) — 3754KB
• neph-20240331.xsd (EX-101.SCH) — 31KB
• neph-20240331_cal.xml (EX-101.CAL) — 47KB
• neph-20240331_def.xml (EX-101.DEF) — 118KB
• neph-20240331_lab.xml (EX-101.LAB) — 265KB
• neph-20240331_pre.xml (EX-101.PRE) — 209KB
• form10-q_htm.xml (XML) — 458KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 3

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited). 3 CONSOLIDATED BALANCE SHEETS – March 31, 2024 and December 31, 2023 3 CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS – Three months ended March 31, 2024 and 2023 4 CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY – Three months ended March 31, 2024 and 2023 5 CONSOLIDATED STATEMENTS OF CASH FLOWS – Three months ended March 31, 2024 and 2023 6 NOTES TO CONSOLIDATED INTERIM FINANCIAL STATEMENTS 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. 16

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk. 22

Controls and Procedures

Item 4. Controls and Procedures. 22

- OTHER INFORMATION

PART II - OTHER INFORMATION 23

Risk Factors

Item 1A. Risk Factors 23

Exhibits

Item 5. Exhibits 23

SIGNATURES

SIGNATURES 24 2 PART I - FINANCIAL INFORMATION Item 1. Financial Statements. NEPHROS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share amounts) (Unaudited) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 3,633 $ 4,307 Accounts receivable, net 1,518 1,496 Inventory 2,779 2,470 Prepaid expenses and other current assets 200 132 Total current assets 8,130 8,405 Property and equipment, net 142 152 Lease right-of-use assets 1,680 1,807 Intangible assets, net 373 381 Goodwill 759 759 License and supply agreement, net 257 271 Other assets 75 86 TOTAL ASSETS $ 11,416 $ 11,861 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable 1,114 873 Accrued expenses 413 794 Current portion of lease liabilities 402 446 Total current liabilities 1,929 2,113 Lease liabilities, net of current portion 1,307 1,390 TOTAL LIABILITIES 3,236 3,503 COMMITMENTS AND CONTINGENCIES (Note 13) - - STOCKHOLDERS' EQUITY: Preferred stock, $ .001 par value; 5,000,000 shares authorized at March 31, 2024 and December 31, 2023; no shares issued and outstanding at March 31, 2024 and December 31, 2023 - - Common stock, $ .001 par value; 40,000,000 shares authorized at March 31, 2024 and December 31, 2023; 10,544,139 and 10,543,675 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 10 10 Additional paid-in capital 152,745 152,754 Accumulated deficit ( 144,575 ) ( 144,406 ) TOTAL STOCKHOLDERS' EQUITY 8,180 8,358 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 11,416 $ 11,861 The accompanying notes are an integral part of these unaudited consolidated interim financial statements. 3 NEPHROS, INC. AND SUBSIDIARIES CONSOLIDATED (In thousands, except share and per share amounts) (Unaudited) 2024 2023

View Full Filing

View this 10-Q filing on SEC EDGAR