Q3 2022 Conference Call Replay
Listen to the replay of the Q3 2022 conference call
Quarterly Financial Results and Business Overview
The Nephros Q3 2022 conference call replay features Andy Astor, President and CEO of Nephros, as he discusses the third-quarter financial results and presents an overview of the business over the last three months with additional insights covering the commercial perspective and outlook for the future.
Read the Q3 2022 press release as a complement to the conference call recording. An excerpt of the release is included below.
“…Active Customer Sites (ACS) grew to a record 1,391, a year-over-year increase of 18%… Overall, we believe our cash position stands in good condition with no need to raise capital in the foreseeable future, and we remain confident in our capacity to attain positive cash flow by mid-2023.”
Andy Astor, President and Chief Executive Officer commented, “Our third-quarter revenue was not at the level we anticipated, representing a decrease of 7% year-over-year. A significant contributor to the revenue growth shortfall was approximately $300,000 of price increase-related pull-ahead business in Q2.”
Mr. Astor continued, “Of promising note, Active Customer Sites (ACS) grew to a record 1,391, a year-over-year increase of 18%. Our work to expand domestic sales coverage will support further growth and development of our customer base. Additionally, we agreed to sell our Pathogen Detection Systems (PDS) business to maximize its value and reduce near-term expenses by approximately $300,000 per quarter. This strategic action bolsters our financial position and offers the potential for new future revenue with a profit-sharing provision. Overall, we believe our cash position stands in good condition with no need to raise capital in the foreseeable future, and we remain confident in our capacity to attain positive cash flow by mid-2023.”