debt_leverage_profile
0.01x Total Debt / Equity (Conservative)
High
SEC-XBRL
interest_rate_sensitivity
Low sensitivity; Nephros carries minimal long-term debt (~$1-2M), so a 200bps rate rise adds negligible interest expense under $50K annually
Inferred
Agent_Inference
geopolitical_supply_exposure
Low intensity; China and India supply >60% of global API inputs, creating concentration risk.
Medium
GICS-commodity-overlay-v1
supply_chain_dependency
Taiwan/China semiconductor components for filtration electronics; single-source hollow-fiber membrane suppliers concentrated in Asia
Inferred
Agent_Inference
international_expansion_readiness
Negligible sovereign currency risk; ~90%+ of revenue is US-domestic; limited international exposure mostly USD-denominated distributor contracts
Inferred
Agent_Inference
geographic_footprint
Predominantly US-based (>90% revenue); minimal EUR or other currency exposure; no material top-three international markets with devaluation risk
Inferred
Agent_Inference
commodity_exposure_profile
Low intensity; commodities: Active Pharmaceutical Ingredients, Rare Earth Elements, Natural Gas (energy), Plastics/Resins, Ethanol, Packaging Materials; geopolitical: China and India supply >60% of global API inputs, creating concentration risk.
Medium
GICS-commodity-overlay-v1
vendor_lock_dependency_score
High dependency on single hollow-fiber ultrafiltration membrane supplier; non-substitutable in short term without FDA re-clearance requirements
Inferred
Agent_Inference
business_model_type_primary
Minimal cloud infrastructure risk; Nephros is a medical device/filtration hardware company with limited SaaS dependency; 30-day termination manageable
Inferred
Agent_Inference
business_model_type_secondary
Medical device manufacturer and consumables seller; cloud disruption would affect back-office only, not core product delivery
Inferred
Agent_Inference
switching_cost_profile
Low API coupling risk; Nephros is hardware/consumables-centric with no significant third-party API integrations in core revenue-generating operations
Inferred
Agent_Inference
howey_test_risk_index
Fails Howey Test; revenue from tangible FDA-cleared water filtration device sales and filter cartridge consumables, not investment contracts
Inferred
Agent_Inference
regulatory_burden_tier
Very High
Medium
GICS-regulatory-overlay-v1
data_sovereignty_risk
Low GDPR/CCPA exposure; Nephros collects minimal personal data; hospital B2B sales model with no consumer data platform or cloud patient records
Inferred
Agent_Inference
antitrust_exposure_flag
Low antitrust risk; operates in fragmented point-of-use water filtration niche with <5% market share; no dominant market position
Inferred
Agent_Inference
regulatory_exposure_profile
Very High burden; regimes: FDA, CMS, HHS, HIPAA, EMA, OIG; Drug pricing legislation and approval delays directly compress revenue visibility.
Medium
GICS-regulatory-overlay-v1
revenue_model_type
~60-70% recurring (replacement filter cartridges/consumables); ~30-40% transactional (capital equipment/device sales); razor-and-blade hybrid model
Inferred
Agent_Inference
monetization_vector
Razor-and-blade: initial device placement drives recurring high-margin filter cartridge consumable revenue stream at hospitals and dialysis centers
Inferred
Agent_Inference
pricing_architecture
Vulnerable to GPO (Group Purchasing Organization) pricing pressure; hospitals negotiate through GPOs limiting pricing power on consumables
Inferred
Agent_Inference
pricing_power_rating
Moderate (4/10); FDA clearance creates moat but GPO contracts and hospital procurement departments constrain price increases to ~CPI annually
Inferred
Agent_Inference
target_gross_margin_bracket
61.9% Gross Margin (Premium (>60%))
High
SEC-XBRL
churn_vulnerability_index
Low free-rider risk; proprietary filter cartridges require Nephros-specific hardware; installed base locked into consumable repurchase cycle
Inferred
Agent_Inference
headcount_cost_structure
Moderately headcount-linear; doubling revenue requires additional sales reps and service technicians but manufacturing scales better; sublinear above $20M
Inferred
Agent_Inference
marginal_cost_of_growth
Moderate marginal cost; incremental filter cartridge revenue is high-margin (~60%+) but new hospital wins require capital equipment at low/no margin
Inferred
Agent_Inference
franchise_compliance_risk
Not applicable; Nephros does not operate a franchise model
Inferred
Agent_Inference
customer_acquisition_metric
At 10x scale CAC economics deteriorate; hospital market is finite (~6,000 US hospitals); sales cycle 6-18 months limits rapid scaling without GPO partnerships
Inferred
Agent_Inference
network_effect_present
No meaningful network effects; medical device/filtration utility product; value per user does not increase with more users on platform
Inferred
Agent_Inference
asset_efficiency_ratio
8.8% Return on Assets (Excellent)
High
SEC-XBRL
recession_resistance_tier
Tier 2 - recession resistant; hospital infection control and dialysis water safety are non-discretionary regulatory requirements regardless of economic cycle
Inferred
Agent_Inference
customer_segment_primary
Acute care hospitals and healthcare systems (dialysis water safety, immunocompromised patient protection); B2B institutional procurement
Inferred
Agent_Inference
customer_segment_secondary
Dialysis centers and outpatient renal care facilities; secondary market includes military/government facilities and point-of-use commercial water safety
Inferred
Agent_Inference
characteristic_occupations
["11-0000 Management Occupations", "13-0000 Business and Financial Operations Occupations", "15-0000 Computer and Mathematical Occupations", "19-0000 Life, Physical, and Social Science Occupations", "21-0000 Community and Social Service Occupations", "23-0000 Legal Occupations", "29-0000 Healthcare Practitioners and Technical Occupations", "31-0000 Healthcare Support Occupations", "41-0000 Sales and Related Occupations", "43-0000 Office and Administrative Support Occupations", "51-0000 Production Occupations"]
High
SOC-2018/GICS-overlay
agent_automatable_labor_share
0.32 (HIL — ~32% of characteristic roles agent-automatable)
Medium
SOC-2018 + agentic-exposure-v1
capital_expenditure_profile
0.3% CapEx / Revenue (Low-CapEx Asset-Light)
High
SEC-XBRL
sec_cik
0001196298
High
SEC-EDGAR
ticker
NEPH
High
SEC-EDGAR