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Side-by-side financial comparison of NEPHROS INC (NEPH) and Velo3D, Inc. (VELO). Click either name above to swap in a different company.
Velo3D, Inc. is the larger business by last-quarter revenue ($9.4M vs $4.7M, roughly 2.0× NEPHROS INC). NEPHROS INC runs the higher net margin — 1.3% vs -231.9%, a 233.2% gap on every dollar of revenue. On growth, NEPHROS INC posted the faster year-over-year revenue change (22.2% vs -25.2%). Over the past eight quarters, NEPHROS INC's revenue compounded faster (15.9% CAGR vs -1.8%).
Nephros Inc is a medical technology company that develops and commercializes high-performance water purification systems, infection control products, and renal care solutions. Its offerings are primarily used by hospitals, dialysis clinics, and long-term care facilities across North America to reduce waterborne pathogen risks and improve patient outcomes.
Velo3D, Inc. develops and sells advanced end-to-end metal additive manufacturing (3D printing) solutions, comprising industrial-grade printers, specialized processing software, and high-performance metal materials. It primarily serves global aerospace, defense, energy, semiconductor and industrial manufacturing markets, enabling customers to produce complex, high-precision metal parts that are difficult to manufacture with traditional methods.
NEPH vs VELO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.7M | $9.4M |
| Net Profit | $62.0K | $-21.9M |
| Gross Margin | 58.4% | -73.6% |
| Operating Margin | 0.4% | -231.0% |
| Net Margin | 1.3% | -231.9% |
| Revenue YoY | 22.2% | -25.2% |
| Net Profit YoY | -82.2% | -2.9% |
| EPS (diluted) | $0.01 | $-0.87 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $4.7M | $9.4M | ||
| Q3 25 | $4.8M | $13.6M | ||
| Q2 25 | $4.4M | $13.6M | ||
| Q1 25 | $4.9M | $9.3M | ||
| Q4 24 | $3.9M | $12.6M | ||
| Q3 24 | $3.5M | $8.2M | ||
| Q2 24 | $3.3M | $10.3M | ||
| Q1 24 | $3.5M | $9.8M |
| Q4 25 | $62.0K | $-21.9M | ||
| Q3 25 | $337.0K | $-11.2M | ||
| Q2 25 | $237.0K | $-13.3M | ||
| Q1 25 | $558.0K | $-25.0M | ||
| Q4 24 | $349.0K | $-21.3M | ||
| Q3 24 | $183.0K | $-21.9M | ||
| Q2 24 | $-289.0K | $935.0K | ||
| Q1 24 | $-169.0K | $-27.5M |
| Q4 25 | 58.4% | -73.6% | ||
| Q3 25 | 61.2% | 3.2% | ||
| Q2 25 | 63.2% | -11.7% | ||
| Q1 25 | 64.7% | 7.5% | ||
| Q4 24 | 64.0% | -3.5% | ||
| Q3 24 | 61.1% | 49.4% | ||
| Q2 24 | 58.8% | -28.0% | ||
| Q1 24 | 62.1% | -28.8% |
| Q4 25 | 0.4% | -231.0% | ||
| Q3 25 | 6.6% | -73.3% | ||
| Q2 25 | 5.6% | -85.4% | ||
| Q1 25 | 11.6% | -123.6% | ||
| Q4 24 | 8.2% | -167.0% | ||
| Q3 24 | 5.9% | -213.8% | ||
| Q2 24 | -9.7% | -187.7% | ||
| Q1 24 | -5.7% | -211.1% |
| Q4 25 | 1.3% | -231.9% | ||
| Q3 25 | 7.1% | -82.0% | ||
| Q2 25 | 5.4% | -97.7% | ||
| Q1 25 | 11.4% | -268.4% | ||
| Q4 24 | 9.0% | -168.5% | ||
| Q3 24 | 5.2% | -265.3% | ||
| Q2 24 | -8.9% | 9.0% | ||
| Q1 24 | -4.8% | -281.2% |
| Q4 25 | $0.01 | $-0.87 | ||
| Q3 25 | $0.03 | $-0.65 | ||
| Q2 25 | $0.02 | $-0.94 | ||
| Q1 25 | $0.05 | $-1.87 | ||
| Q4 24 | $0.04 | $7.06 | ||
| Q3 24 | $0.02 | $-35.52 | ||
| Q2 24 | $-0.03 | $1.65 | ||
| Q1 24 | $-0.02 | $-55.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $5.4M | $39.0M |
| Total DebtLower is stronger | — | $31.0M |
| Stockholders' EquityBook value | $10.2M | $38.2M |
| Total Assets | $13.6M | $105.3M |
| Debt / EquityLower = less leverage | — | 0.81× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.4M | $39.0M | ||
| Q3 25 | $5.2M | $11.8M | ||
| Q2 25 | $5.1M | $854.0K | ||
| Q1 25 | $4.1M | $3.9M | ||
| Q4 24 | $3.8M | $1.2M | ||
| Q3 24 | $2.5M | $1.6M | ||
| Q2 24 | $3.1M | $3.2M | ||
| Q1 24 | $3.6M | $10.9M |
| Q4 25 | — | $31.0M | ||
| Q3 25 | — | $23.0M | ||
| Q2 25 | — | $22.5M | ||
| Q1 25 | — | $21.7M | ||
| Q4 24 | — | $5.7M | ||
| Q3 24 | — | $32.3M | ||
| Q2 24 | — | $33.5M | ||
| Q1 24 | — | $44.0M |
| Q4 25 | $10.2M | $38.2M | ||
| Q3 25 | $10.0M | $29.9M | ||
| Q2 25 | $9.6M | $21.4M | ||
| Q1 25 | $9.3M | $32.8M | ||
| Q4 24 | $8.6M | $39.7M | ||
| Q3 24 | $8.2M | $34.4M | ||
| Q2 24 | $7.9M | $52.1M | ||
| Q1 24 | $8.2M | $45.5M |
| Q4 25 | $13.6M | $105.3M | ||
| Q3 25 | $13.2M | $93.7M | ||
| Q2 25 | $12.2M | $78.4M | ||
| Q1 25 | $11.8M | $91.3M | ||
| Q4 24 | $11.2M | $89.2M | ||
| Q3 24 | $10.4M | $110.8M | ||
| Q2 24 | $11.1M | $116.7M | ||
| Q1 24 | $11.4M | $136.1M |
| Q4 25 | — | 0.81× | ||
| Q3 25 | — | 0.77× | ||
| Q2 25 | — | 1.05× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.94× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.97× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $230.0K | $-7.7M |
| Free Cash FlowOCF − Capex | — | $-8.3M |
| FCF MarginFCF / Revenue | — | -88.3% |
| Capex IntensityCapex / Revenue | — | 6.4% |
| Cash ConversionOCF / Net Profit | 3.71× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $230.0K | $-7.7M | ||
| Q3 25 | $99.0K | $-6.0M | ||
| Q2 25 | $994.0K | $-1.2M | ||
| Q1 25 | $322.0K | $-12.3M | ||
| Q4 24 | $1.3M | $-2.2M | ||
| Q3 24 | $-623.0K | $-2.0M | ||
| Q2 24 | $-501.0K | $-8.0M | ||
| Q1 24 | $-672.0K | $-20.5M |
| Q4 25 | — | $-8.3M | ||
| Q3 25 | — | $-6.3M | ||
| Q2 25 | — | $-3.0M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $-2.2M | ||
| Q3 24 | — | $-2.0M | ||
| Q2 24 | — | $-8.0M | ||
| Q1 24 | — | $-20.5M |
| Q4 25 | — | -88.3% | ||
| Q3 25 | — | -46.5% | ||
| Q2 25 | — | -22.2% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -17.7% | ||
| Q3 24 | — | -24.2% | ||
| Q2 24 | — | -77.1% | ||
| Q1 24 | — | -209.8% |
| Q4 25 | — | 6.4% | ||
| Q3 25 | — | 2.3% | ||
| Q2 25 | — | 13.3% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | 0.0% | 0.2% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | 3.71× | — | ||
| Q3 25 | 0.29× | — | ||
| Q2 25 | 4.19× | — | ||
| Q1 25 | 0.58× | — | ||
| Q4 24 | 3.74× | — | ||
| Q3 24 | -3.40× | — | ||
| Q2 24 | — | -8.52× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NEPH
| Products | $4.6M | 98% |
| Other | $108.0K | 2% |
VELO
Segment breakdown not available.
