Q4 / FY 2022 Conference Call Replay
Listen to the replay of the Q4 / FY 2022 conference call
Quarterly and Year-End Financial Results and Business Overview
The Nephros Q4 / FY 2022 conference call replay features Andy Astor, President and CEO of Nephros, as he discusses the fourth-quarter and year-end financial results along with an overview of the business over 2022. Includes additional insights covering the commercial perspective and outlook for the future.
Read the Q4 2022 press release as a complement to the conference call recording. An excerpt of the release is included below.
“2022 was a year of refocusing and rebuilding for Nephros… I am please to report that our net cash usage for the first half of the year was $2.8 million, compared to $0.5 million in the second half of the year, an 80% improvement.”
“2022 was a year of refocusing and rebuilding for Nephros,” said Andy Astor, President and Chief Executive Officer. “After a challenging first half of the year, we established a target of cash flow breakeven (“CFBE”) by mid-year 2023, coupled with significant revenue growth by that same time. We have made good progress on both fronts.”
“In our efforts to achieve CFBE, we took multiple actions, including broad headcount and expense reductions, the disposition of our Pathogen Detection Systems (“PDS”) business segment, and two price increases during the year, which were intended to return us to target gross margins of 55-60%. I am pleased to report that our fourth-quarter gross margins were 59%. Additionally, our net cash usage for the first half of the year was $2.8 million, compared to $0.5 million in the second half of the year, an 80% improvement.”
Mr. Astor continued, “In an effort to set the company up for future revenue growth, we took several actions, including a restructuring of our sales organization, the doubling of our sales team, and the relaunch of our commercial filtration business, which included a rebrand of our commercial filter products from Aether to Nephros. Of further note, we established a strategic partnership with Donastar Enterprises, LLC as the exclusive master distributor of our commercial filters in the food & beverage and hospitality markets.”
