NEPH — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-07

• Across our product portfolio, we characterize revenue as either programmatic or emergency response. Programmatic revenue reflects recurring procurement of filters used within ongoing clinical, treatment, or operational workflows, and following a replacement schedule based on filter life. Emergency r…

• We develop and sell point-of-use water filtration products used in both medical and commercial applications. Our water filtration products employ multiple filtration technologies, as described below.

• For medical applications, we manufacture both ultra- and microfilters using polysulfone hollow fiber membranes that retain microbiological contaminants through physical size exclusion. Our ultrafilters, with a 0.005-micron pore size, retain bacteria, viruses, and endotoxins, provide a unique alterna…

• Our primary sales strategy for medical applications is to sell within healthcare through distributors (also termed as value-added resellers, or “VARs”). Leveraging VARs has enabled us to rapidly expand our access to target customers with limited sales staff expansion. In addition, while we are curre…

• For commercial applications, we develop filters to improve water quality through the reduction of aesthetic and functional contaminants. This segment includes both carbon-based and carbon-free solutions to reduce a number of issues including taste, odor, scale buildup, fine particulate, lead, cysts,…

Text removed vs the prior filing · source: 10-Q · 2025-11-06

• We develop and sell water filtration products used in both medical and commercial applications. Our water filtration products employ multiple filtration technologies, as described below.

• In medical markets, we manufacture both ultra- and microfilters using polysulfone hollow fiber membranes that retain microbiological contaminants through physical size exclusion. Our ultrafilters, with a 0.005-micron pore size, retain bacteria, viruses, and endotoxins, providing a unique alternative…

• Our primary sales strategy in medical markets is to sell through distributors (also termed as value-added resellers, or “VARs”). Leveraging VARs has enabled us to rapidly expand our access to target customers with limited sales staff expansion. In addition, while we are currently focused on medical …

• In commercial markets, we develop filters designed to improve water quality through the reduction of aesthetic and functional contaminants. This segment includes both carbon-based and carbon-free solutions to reduce a number of issues including taste, odor, scale buildup, fine particulate, lead, cys…

• Our commercial sales model combines both direct and indirect channels. Through our internal sales team, we sell directly to customers across a range of industries, including healthcare, where our commercial solutions are an effective complement to our medical-grade, infection control filters. We als…

Text added vs the prior filing · source: 10-Q · 2026-05-07

• As required by Rules 13a-15 and 15d-15 under the Exchange Act, the Chief Executive Officer and Chief Financial Officer carried out an evaluation of the effectiveness of the design and operation of the disclosure controls and procedures as of March 31, 2026. Based upon this evaluation, the Chief Exec…

Text removed vs the prior filing · source: 10-Q · 2025-11-06

• We rely on third-party contractors to install and service our water filtration products, and any failure by these parties to perform adequately could adversely affect our business and reputation.

• The proper installation and servicing of our water filtration products are critical to ensuring their performance, safety and regulatory compliance. We rely on third-party contractors and service providers to install and service our water filtration products. These contractors are not our employees,…

Text added vs the prior filing · source: 10-Q · 2026-05-07

• During the three months ended March 31, 2026, none of our directors or officers adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408 of Regulation S-K.

• The Company’s Board of Directors has not yet determined the date or time of the Company’s 2026 Annual Meeting of Stockholders (the “2026 Annual Meeting”). The Company intends to announce the date, time and location of the 2026 Annual Meeting through a press release and/or the filing of proxy materia…

• The date of the 2026 Annual Meeting will likely be more than 30 days following the anniversary of the 2025 Annual Meeting of the Stockholders held on June 16, 2025 (the “2025 Annual Meeting”). Because the date of the 2026 Annual Meeting has not yet been established, assuming the meeting will be more…

Text removed vs the prior filing · source: 10-Q · 2025-11-06

• On November 4, 2025, our Board of Directors approved an increase in the annual base salary payable to Robert Banks, our President and Chief Executive Officer, from $350,000 to $400,000, effective October 1, 2025.

• During the three months ended September 30, 2025, none of our directors or officers adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408 of Regulation S-K.