Financial Performance - Full-year net revenue for 2024 was 14.2million,remainingflatcomparedto2023[6]−Fourth−quarternetrevenuewas3.9 million, an increase of 19% from 3.3millioninQ42023[6]−Netincomeforthefourthquarterwas349,000, compared to a net loss of 654,000inthesameperiodof2023[6]−AdjustedEBITDAforthefourthquarterwas466,000, compared to a loss of 51,000inQ42023[6]−TotalnetrevenuesforQ42024were3,870,000, an increase of 18.9% compared to 3,254,000inQ42023[31]−OperatingincomeforQ42024was317,000, compared to an operating loss of 649,000inQ42023[31]−NetincomeforQ42024was349,000, a significant turnaround from a net loss of 654,000inQ42023[31]−Thecompanyreportedabasicnetincomepershareof0.03 for Q4 2024, compared to a loss of 0.06pershareinQ42023[31]RevenueandSales−Thecompanyaddednearly600newcustomersites,contributingalmost2 million in sales, representing over 13% of annual revenue[5] - Product revenues for the twelve months ended December 31, 2024, were 14,035,000,aslightdecreaseof0.514,110,000 in 2023[31] Expenses and Margins - Gross margin for the year was 62%, up from 59% in 2023, and for Q4 it was 64%, compared to 62% in Q4 2023[10] - Selling, general and administrative expenses decreased by 14% year-over-year to 7.7millionfor2024[11]−Researchanddevelopmentexpensesfortheyearremainedsteadyat0.9 million, with a 21% increase in Q4 due to higher headcount[12] - Research and development expenses for the twelve months ended December 31, 2024, were 906,000,anincreaseof3.8873,000 in 2023[31] - Gross margin for Q4 2024 improved to 2,475,000,representinga22.52,021,000 in Q4 2023[31] Assets and Liabilities - Total current assets decreased to 8,298,000in2024from8,405,000 in 2023, reflecting a decline of 1.3%[28] - Total liabilities decreased to 2,625,000in2024,down25.13,503,000 in 2023[28] - Stockholders' equity increased to 8,585,000in2024,up2.78,358,000 in 2023[28] Product Development - The company launched the 20" HydraGuard Ultrafilter, targeting industries such as sterile processing and manufacturing[4] - Nephros achieved profitability for the first time in Q3 2024, attributed to effective cost control[5]
