NxStage Medical Reports First Quarter 20...(Three Months Ended ...),Health

March 31,

2008 2007

Cash flows from operating activities:

Net loss $(13,944) $(11,993)

Adjustments to reconcile net loss to

net

Cash used in operating activities:

Depreciation and amortization 4,210 1,435

Stock-based compensation 1,486 760

Other 16 -

Changes in operating assets and

liabilities:

Accounts receivable (3,073) (2,772)

Inventory (17,425) (9,377)

Prepaid expenses and other current assets 865 293

Accounts payable 2,978 3,063

Accrued expenses (1,493) 742

Deferred revenue 4,259 7,240

Net cash used in operating activities $(22,121) $(10,609)

NxStage Medical Inc.

Revenue by Segment

(Amounts in thousands)

Three Months Ended

March 31,

2008 2007

System One segment

Home $10,546 $5,435

Critical Care 4,321 2,939

Total System One segment 14,867 8,374

In-Center segment 16,138 -

Total
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