Q2 2023 Conference Call Replay
Listen to the replay of the Q2 2023 conference call
Quarterly Financial Results and Business Overview
The Nephros Q2 2023 conference call replay features Robert Banks, President and CEO of Nephros, and Andy Astor, Interim CFO. Mr. Banks presents an overview of the business over the last three months with additional insights on the commercial perspective and outlook for the future. Mr. Astor provides detailed financial results for the second quarter.
Read the Q2 2023 press release as a complement to the conference call recording. An excerpt of the release is included below.
“Last quarter, Nephros achieved two significant milestones: positive cash flow and record quarterly revenue, representing a 71% year-over-year increase,” said Robert Banks, President and Chief Executive Officer.
Robert Banks, President and Chief Executive Officer, continued, “I am pleased to report that in our second quarter, we maintained positive cash flow and delivered 24% revenue growth year-over-year. I credit much of our success to the implementation of focused sales strategies and solid execution by our dedicated team. Moving into the second half of the year, I look forward to continuing high growth rates.”
Andy Astor, interim Chief Financial Officer commented, “I am also pleased with our second-quarter financial results. Our core business is stronger than ever, and – coupled with our recent expense reductions – has kept us at cash flow positive status for another quarter. Additionally, gross margins continued to improve in Q2, increasing from 57% in the first quarter to 59% in the second quarter; and Active Customer Sites (ACS) increased to 1,427, a 6% year-over-year increase. We expect that net cash flow will remain strong, although it may fluctuate somewhat, due to working capital usage associated with high revenue growth. Overall, we are confident that the fundamentals of our business continue to improve, and that our increasing cash balances will be sufficient to fund the company for the foreseeable future.”