Delcath Systems, Inc. (DCTH) Income Statement
DCTH 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsDCTH revenue and net income
Where DCTH's revenue goes
2025Each bar shows an amount and its share of revenue. DCTH kept 3.2% of revenue as net income.
DCTH profit margins
DCTH growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +129.1% | +215.3% | +120.2% | +47.5% |
| Gross profit | +136.8% | +230.6% | +135.9% | +49.9% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
DCTH quarterly EPS vs estimates
Delcath Systems beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 3, 2026 (estimate $-0.10).
DCTH income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $85.2M | $37.2M | $2.1M | $2.7M | $3.6M | $1.6M | $1.6M | $3.4M | $2.7M | $2.0M |
| Cost of revenue | $11.8M | $6.2M | $635,000 | $686,000 | $671,000 | $640,000 | $719,000 | $1.0M | $701,000 | $550,000 |
| Gross profit | $73.4M | $31.0M | $1.4M | $2.0M | $2.9M | $1.0M | $861,000 | $2.4M | $2.0M | $1.4M |
| Research & development | $29.2M | $13.9M | $17.5M | $18.6M | $13.8M | $11.2M | $9.5M | $19.6M | $10.5M | $8.4M |
| Sales, general & admin | $43.5M | $29.6M | $19.0M | $17.3M | $13.6M | $11.1M | $11.3M | $9.8M | $9.7M | $9.4M |
| Total operating expenses | $72.8M | $43.4M | $39.6M | $35.9M | $27.4M | $22.3M | $20.8M | $29.5M | $20.2M | $17.9M |
| Operating income | $660,000 | −$12.4M | −$38.2M | −$33.9M | −$24.5M | −$21.3M | −$19.9M | −$27.1M | −$18.2M | −$16.4M |
| Interest expense | — | $125,000 | $1.4M | $2.7M | $1.2M | $175,000 | $4.7M | $8.0M | $21.7M | $14.3M |
| Income before taxes | $3.5M | −$26.4M | −$47.7M | −$36.5M | −$25.6M | −$24.2M | −$8.9M | −$19.2M | −$45.1M | −$18.0M |
| Income taxes | $810,000 | — | −$39,895 | $2.7M | $1.1M | $329,000 | $4.7M | $15.8M | $21.7M | $14.3M |
| Net income | $2.7M | −$26.4M | −$47.7M | −$36.5M | −$25.6M | −$24.2M | −$8.9M | −$19.2M | −$45.1M | −$18.0M |
| EBITDA | $3.9M | −$26.2M | −$46.1M | −$33.7M | −$24.3M | −$23.8M | −$3.9M | −$10.8M | −$23.1M | −$16.1M |
| EPS (diluted) | $0.07 | −$0.98 | −$2.97 | −$3.96 | −$3.63 | −$111.73 | $268.70 | $3.23 | −$50143.84 | −$4000000.00 |
| Gross margin | 86.2% | 83.4% | 69.2% | 74.8% | 81.1% | 61.1% | 54.5% | 70.4% | 74.2% | 72.4% |
| Operating margin | 0.8% | −33.4% | −1,849.0% | −1,245.1% | −690.0% | −1,294.2% | −1,260.0% | −794.6% | −669.1% | −825.3% |
| Net margin | 3.2% | −70.9% | −2,308.9% | −1,342.7% | −721.5% | −1,467.6% | −562.0% | −564.2% | −1,661.8% | −902.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $29.1M | $25.0M | $20.7M | $20.6M | $24.2M | $19.8M | $15.1M | $11.2M | $7.8M | $3.1M | $539,000 | $434,000 |
| Cost of revenue | $3.0M | $3.7M | $3.0M | $2.6M | $3.3M | $2.8M | $2.1M | $1.6M | $1.5M | $903,000 | $171,000 | $133,000 |
| Gross profit | $26.1M | $21.3M | $17.7M | $17.9M | $20.8M | $16.9M | $13.0M | $9.6M | $6.2M | $2.2M | $368,000 | $301,000 |
| Research & development | $10.4M | $9.8M | $9.4M | $8.0M | $6.9M | $5.0M | $2.9M | $3.9M | $3.4M | $3.7M | $4.7M | $4.7M |
| Sales, general & admin | $13.4M | $13.1M | $10.5M | $10.3M | $11.4M | $11.3M | $7.0M | $7.0M | $6.8M | $8.8M | $7.0M | $6.2M |
| Total operating expenses | $23.8M | $22.9M | $19.9M | $18.3M | $18.2M | $16.3M | $9.9M | $10.8M | $10.2M | $12.5M | $11.7M | $10.9M |
| Operating income | $2.4M | −$1.6M | −$2.2M | −$388,000 | $2.6M | $642,000 | $3.0M | −$1.3M | −$3.9M | −$10.3M | −$11.3M | −$10.6M |
| Interest income | $781,000 | $787,000 | — | — | $649,000 | $618,000 | — | $113,000 | — | — | — | — |
| Interest expense | — | — | — | $796,000 | $649,000 | — | — | $113,000 | $84,000 | $199,000 | $15,000 | $395,000 |
| Income before taxes | $3.2M | −$908,000 | −$1.3M | $375,000 | $3.2M | $1.3M | −$3.4M | $1.9M | −$13.7M | −$11.1M | −$11.1M | −$20.3M |
| Income taxes | $491,000 | $162,000 | $562,000 | −$455,000 | $508,000 | $195,000 | — | — | — | −$14,276 | −$1.7M | −$28,000 |
| Net income | $2.7M | −$1.1M | −$1.9M | $830,000 | $2.7M | $1.1M | −$3.4M | $1.9M | −$13.7M | −$11.1M | −$11.1M | −$20.3M |
| EBITDA | $3.3M | −$777,000 | −$1.2M | $467,000 | $3.2M | $1.3M | $10.5M | $2.0M | −$13.6M | −$10.9M | −$11.1M | −$19.7M |
| EPS (diluted) | $0.07 | −$0.03 | −$0.05 | $0.02 | $0.07 | $0.03 | −$0.11 | $0.06 | −$0.48 | −$0.45 | −$0.48 | −$1.14 |
| Gross margin | 89.8% | 85.1% | 85.5% | 87.2% | 86.3% | 85.6% | 85.9% | 85.4% | 80.4% | 71.2% | 68.3% | 69.4% |
| Operating margin | 8.2% | −6.5% | −10.5% | −1.9% | 10.7% | 3.2% | 20.1% | −11.2% | −50.4% | −327.4% | −2,097.2% | −2,432.3% |
| Net margin | 9.2% | −4.3% | −9.1% | 4.0% | 11.2% | 5.4% | −22.5% | 16.6% | −176.9% | −354.0% | −2,066.0% | −4,686.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in DCTH's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
DCTH financial results
In fiscal year 2025 (ended December 31, 2025), Delcath Systems reported revenue of $85.2 million, up 129.1% from the year before. It had net income of $2.7 million, a net profit margin of 3.2%. Diluted earnings per share came to $0.07. Over five years revenue grew at an average rate of 120.2% a year.
See the DCTH stock overview for the latest quote and news, or the DCTH chart for price history and technical indicators.
DCTH income statement FAQ
What is Delcath Systems's annual revenue?
Delcath Systems reported total revenue of $85.2 million for fiscal year 2025, which ended on December 31, 2025. That was up 129.1% from $37.2 million the previous year.
Is Delcath Systems profitable?
Yes. Delcath Systems reported net income of $2.7 million in fiscal 2025, a net profit margin of 3.2%; its operating margin was 0.8%.
What is Delcath Systems's gross margin?
Delcath Systems's gross margin was 86.2% in fiscal 2025: for every $100 of revenue, Delcath Systems kept $86 after the direct cost of its products and services.
How much does Delcath Systems spend on research and development?
Delcath Systems spent $29.2 million on research and development in fiscal 2025, 34.3% of revenue.
How fast is Delcath Systems growing?
Revenue grew 120.2% a year on average over the last five fiscal years, from $1.6 million to $85.2 million.
What are Delcath Systems's earnings per share?
Delcath Systems earned $0.07 per diluted share in fiscal 2025, compared with $-0.98 a year earlier.
When will Delcath Systems report its next earnings?
Delcath Systems is expected to report results for the quarter ending September 30, 2026 on November 3, 2026 before the market opens.
When does Delcath Systems's fiscal year end?
Delcath Systems's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.