Nephros, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 04:01 pm EST
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Nephros, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 3.74 million compared to USD 2.41 million a year ago. Net loss was USD 0.182 million compared to USD 3.23 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to USD 0.12 a year ago. Diluted loss per share from continuing operations was USD 0.02 compared to USD 0.12 a year ago. Basic loss per share was USD 0.02 compared to USD 0.31 a year ago. Diluted loss per share was USD 0.02 compared to USD 0.31 a year ago.
For the nine months, revenue was USD 10.98 million compared to USD 7.42 million a year ago. Net loss was USD 0.921 million compared to USD 6.46 million a year ago. Basic loss per share from continuing operations was USD 0.09 compared to USD 0.35 a year ago. Diluted loss per share from continuing operations was USD 0.09 compared to USD 0.35 a year ago. Basic loss per share was USD 0.09 compared to USD 0.63 a year ago. Diluted loss per share was USD 0.09 compared to USD 0.63 a year ago.
Nephros, Inc. is a water technology company providing filtration solutions to the medical and commercial markets. The Company provides water filtration products and services, along with water-quality education. It operates through the Water Filtration segment. In the medical markets, it sells water filtration products. In the commercial markets, it manufactures and sells water filters that improve the taste and odor of water and reduce biofilm, bacteria, and scale build-up in downstream equipment. Its products are marketed primarily to the food service, hospitality, convenience store, and health care markets. These commercial products are also marketed into medical markets, as supplemental filtration to its medical filters. The Companyâs filters are primarily used in hospitals for the prevention of infection from waterborne pathogens, such as legionella and pseudomonas, and in dialysis centers for the removal of biological contaminants from water and bicarbonate concentrate.