Q4 / FY 2024 Conference Call Replay
Listen to the replay of the Q4 / FY 2024 conference call
Quarterly and Year-End Financial Results and Business Overview
The Nephros Q4 / FY 2024 conference call replay features Robert Banks, President and CEO of Nephros, and Judy Krandel, Chief Financial Officer, discussing fourth-quarter and year-end financial results along with an overview of the business over 2024.
Read the Q4 / FY 2024 press release as a complement to the conference call recording. An excerpt of the release is included below.
“We achieved profitability for the first time in Q3, thanks to a fantastic job controlling costs and keeping spend in line with our revenue. Of additional note, we added nearly 600 new customer sites, which combined to almost $2 million in sales, and represented more than 13% of our annual revenue”
– Robert Banks, President and Chief Executive Officer
“Nephros finished 2024 strong despite annual revenue results approximately flat to 2023. Throughout the year we consistently showed growth as our core programmatic revenue steadily increased. In contrast, we had a significant decline in our emergency response business over the first half of the year. Historically, Nephros has experienced double-digit percentages of our total revenue as a result of our emergency business, yet in Q1 and Q2, those values declined to single digits. We were able to overcome this headwind in the second half of 2024, particularly with 19% year-over-year growth in total sales in the fourth quarter,” said Robert Banks, President and Chief Executive Officer. “Nephros has always had a strong product offering and been able to demonstrate significant customer value within a diverse range of applications. I am excited to share that we are continuing to expand both our product lineup and range of customer market sectors into areas such as office space and transportation-related entities.”
Mr. Banks continued, “With regard to our portfolio of products, most notable was the launch of our 20” HydraGuard Ultrafilter which is a new product ideal for applications with higher volumes of water than we typically support. Sterile processing, laboratories, and manufacturing are just a few of the broader industries for which we believe we are now well-positioned to advance. Concerning sterile processing (i.e., the sterilization of medical instruments), the late-2023 release of the ANSI/AAMI ST108 standard, stipulates strict guidelines for the water quality used throughout the operation. We believe the new HydraGuard, which has the tightest control of bacteria and endotoxins on the market, has the potential to serve as a key asset for sterile processing compliance, while supporting improved patient safety.
“While 2024 did not meet our revenue expectations, we achieved profitability for the first time in Q3, thanks to a fantastic job controlling costs and keeping our spend in line with our revenue. Of additional note, we added nearly 600 new customer sites, which combined to almost $2 million in sales, and represented more than 13% of our annual revenue,” said Mr. Banks. “We believe that we continue to be well-placed for growth as we cultivate steady expansion into new and existing markets. I am very proud of our entire team as they persist in their dedication and hard work, driving us ever closer to large-scale success!”
