Nephros Q1 Net Revenue Up 7% to $5.2M; Net Income Down

Nephros, Inc. announced its first quarter 2026 financial results, reporting a 7% increase in net revenue to $5.2 million, with core programmatic revenue growing 23% year over year. Despite top-line growth, net income significantly decreased to $140,000 from $558,000 in the prior year, and Adjusted EBITDA also fell. The decline in profitability was primarily attributed to higher product costs due to U.S. tariffs and a strengthening Euro, along with a revenue mix shift towards lower-margin commercial segment products. Management expressed confidence in long-term growth, citing expansion into new markets and consistent reorder activity.