Delcath Systems (DCTH) Q3 2025 Financial Results Summary

Delcath Systems, Inc. (NASDAQ: DCTH) announced its preliminary financial results for the third quarter ended September 30, 2025, on October 18, 2025. Here’s a summary of the key financial metrics and guidance provided by the company.

Preliminary Third Quarter Financial Results

• Total Revenue: Approximately $20.5 million

• Breakdown:

  • HEPZATO KIT Revenue: $19.2 million
  • CHEMOSAT Revenue: $1.3 million

• Gross Margins: Expected to be 87%.

• Net Income: $0.8 million.

• Adjusted EBITDA: Positive figure of $5.3 million.

• Operating Cash Flow: Approximately $4.8 million.

• Cash Position: As of September 30, 2025, the company had approximately $88.9 million in cash, cash equivalents, and short-term investments and reported no debt.

Year-over-Year Comparisons

• The total revenue of $20.5 million reflects significant growth from the previous year.
• HEPZATO KIT revenue shows a strong contribution with $19.2 million, emphasizing growth in product demand.
• Adjusted EBITDA of $5.3 million mirrors a strong performance compared to the same quarter a year ago.

2025 Full Year Financial Guidance

• Total revenue from CHEMOSAT and HEPZATO KIT is projected between $83 million and $85 million, representing an approximate 150% increase in treatment volume over 2024.

• Gross margins are expected to fall within the range of 85% to 87% for the full year.

• The company anticipates positive adjusted EBITDA and operating cash flow in each quarter of 2025.

Commentary from Management

• Gerard Michel, CEO of Delcath Systems, indicated that while third-quarter revenue was slightly lower compared to the second quarter, it was primarily due to NDRA discounts and unexpected summer seasonality impacting patient scheduling.
• The CEO expressed confidence in achieving significant growth in 2026 and beyond due to:
• Ongoing expansion of active treatment centers.
• Positive results from the CHOPIN trial, which will enhance patient initiation on systemic therapy while preparing for PHP (Percutaneous Hepatic Perfusion) therapy.

Conference Call Details

Delcath Systems will host a conference call and webcast on October 20, 2025, at 8:45 AM Eastern Time to discuss the Phase 2 CHOPIN Trial results and provide an overview of the financial results. Interested parties can join via:
– Toll-Free: 1-877-407-3982
– International: 1-201-493-6780

Key Notes to Consider

• Forward-looking statements involve risks and uncertainties, and future performance may vary based on multiple factors including market conditions and operational execution.

Dividend and Share Repurchase Information

The company did not declare a quarterly dividend or announce any share repurchase program in the current report.

In summary, Delcath Systems has demonstrated strong revenue generation and positive operational metrics in Q3 2025, setting an optimistic tone for the remainder of the year and future growth potential.