Nephros, Inc.

Hello, and welcome to the NetPro Sync first quarter 2025 financial results conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note, this event is being recorded. Now I turn the conference over to our host today, Karen Smith with BCG Advisory. Please go ahead.

Thank you, Keith, and good afternoon, everyone. Thank you all for participating in NEFROS' first quarter 2025 conference call. Before we begin, I would like to caution that comments made during this conference call by management will contain forward-looking statements regarding the operations and future results of NEFROS. I encourage you to review NEFROS' filings with the Securities and Exchange Commission. including without limitation the company's forms 10-K and 10-Q, which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements. Factors that may affect the company's results include, but are not limited to, Nefros' ability to successfully, timely, and cost-effectively market and sell its products and service offerings, the rate of adoption of its products and services by hospitals and other healthcare providers, the success of its commercialization efforts, and the effect of existing and new regulatory requirements on Nefros' business and other economic and competitive factors. The content of this conference call contains time-sensitive information that is accurate only as of the date of the live call today, May 8, 2025. The company undertakes no obligation to revise or update any of the statements to reflect events or circumstances after the date of this conference call, except as required by law. I would now like to turn the call over to NEFROS's President and Chief Executive Officer, Robert Banks. Robert, please go ahead.

Thank you, Kieran, and good afternoon, everyone. I'm very pleased to welcome you to the call. Today marks not only the reporting of our Q1 2025 results, but also a personal milestone. It's the two-year anniversary of my time as CEO of NEFROS. I couldn't be prouder of the progress we've made and the momentum we've built together. When I stepped into this role in May of 2023, our trailing 12-month revenue stood at $11.5 million. Two years later, we've grown that figure to $15.5 million, an impressive 34% increase that speaks to the strength of our strategy and consistent execution by our team. 400 new active customer sites over the past two years speaks to our value creation capability. Q1 has been a standout quarter. our best quarterly revenue in company history, reaching $4.9 million, a 38% increase over Q1 last year. This performance reflects powerful growth in both our core programmatic business and our emergency response channel, each reaching all-time highs. Much of our programmatic success this quarter was driven by strong reorder patterns, a new customer service site applications, and some pre-purchasing ahead of a February price increase. These signals reinforce that our value proposition continues to resonate with our customers and that we are executing well in the field. On the emergency response front, we saw an especially large surge in demand across several regions. That said, given recent changes in federal administration, we don't necessarily expect this level of activity to be sustained throughout the year. Instead, we remain focused on the steady, dependable growth of our programmatic business. This quarter also saw significant innovation milestones. In addition to our successful 2024 launch of the 20-inch HydroGuard Ultra filter, which allows us to address higher volume applications in steel processing, labs, and manufacturing, we recently introduced the S100 inline microfilter, This product opens entirely new market opportunities in places like emergency eyewash stations, dental offices, and recreational vehicles, while maintaining the high standard Mefros is known for. Perhaps most importantly, we've now achieved profitability for two consecutive quarters, achieving $558,000 in net income and $667,000 in adjusted EBITDA and Q1. This success reflects the operational discipline we've worked hard to instill across the business. We've also surpassed 1,600 active customer sites, logged hundreds of filter locations in our digital support app, and maintained strong margins and healthy cash flow, all while remaining debt-free. Heading into the rest of 2025, our strategy is clear. Expand into new, high-impact verticals, continue innovating to address unmet needs, and scale smartly while protecting profitability. I want to thank our employees, our partners, and our investors for helping us make this progress possible. I'm excited about the road ahead. Now I'll turn the call over to Judy, our CFO, Judy Crandall, for a closer look at our financials. Judy?