Nephros, Inc. is classed by the SEC under Surgical & Medical Instruments & Apparatus (industry code 3841), based in South Orange, NJ. In its latest annual figures on file, for the fiscal year ended 2025-12-31, it reported revenue of $19 million and a profit of $1 million (its filed statements).
Product businessSurgical & Medical Instruments & ApparatusSouth Orange, NJfilings since 20029 of 9 filed
Three tenses, nine metrics. Unseen metrics stay unseen; the grade never fakes a number. Proxy era: provisional values, marked. Weighed as a product business: prior from its industry code (SEC 3841, Surgical & Medical Instruments & Apparatus); the filing read can change it. All three tenses have at least two readings, so the archetype blend applies as printed.
The grade, in three tenses
Headline 6.1 out of ten, 9 of 9 metrics filed: past 4.8 out of ten, present 6.7 out of ten, future 6.5 out of ten. The past asks what it actually did, the present what it is doing right now, the future what it is set up to do next.
The nine metrics
Surviving crises (past): 5.5 out of ten. 2 warning events since 2017; the latest 2022-11-15. 55th percentile among 121 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Track record (past): 4.8 out of ten. +22.1% a year over 9 filed years; profitable in 2 of 8. 48th percentile among 105 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Shareholder treatment (past): 3.9 out of ten. Share count grew 1.0% a year. 0% of cash flow returned. Insiders: 0 sales, 0 purchases. 39th percentile among 40 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Financial health (present): 8.0 out of ten. ROE 12%: 12¢ of profit per shareholder dollar. Leverage 25%: owes 25¢ per asset dollar. 80th percentile among 120 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Industry position (present): 5.7 out of ten. top 43% of 109 in its family; net margin 6.4%. 57th percentile among 109 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Leadership (present): 5.7 out of ten. top 43% of 90 in its family for leadership; chief executive since 2023. 57th percentile among 90 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-09).
Room to expand (future): 5.9 out of ten. top 41% of 104 in its family for room to expand. 59th percentile among 104 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Growth drivers (future): 6.5 out of ten. top 35% of 105 in its family for growth drivers. 65th percentile among 105 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Expectations vs reality (future): 7.8 out of ten. top 22% of 88 in its family for expectations against reality. 78th percentile among 88 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
The filing record
Newest annual report: Form 10-K filed 2026-03-12 for the period ended 2025-12-31 (on EDGAR). Newest quarterly report: Form 10-Q filed 2026-08-10 for the period ended 2026-06-30 (on EDGAR). Newest results release: Form 8-K filed 2026-08-06 (on EDGAR). Newest filing: Form SCHEDULE 13D/A, 2026-09-16. Filings on record since 2002. Read from EDGAR 2026-10-12.
Where the revenue comes from
Product and service lines in fiscal 2025: Product 97%, Service 3%, Other Revenue under 1%. As tagged in its annual report (Form 10-K, filed 2026-03-12).
Who runs it
Banks, Robert R. Jr. (President and CEO); Krandel, Judy (Chief Financial Officer); Amron, Arthur H (director); Amron, Holdings Llc (director); Davidson, Charles E (director); Jacobs, Joseph (director); Wexford, Capital Lp (director); Wexford, Gp Llc (director); Nettis, Lisa Marie (director); Spandow, Oliver J. (director). 10 officers and directors have filed their own trades in the last fifteen months, names and titles as filed with the SEC, through 2026-09-30.
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