NASDAQ$DCTH

Delcath Systems Inc · Q4 2025 earnings

Q4 2025 earnings · · Before market open · Investor relations

Briefing

Delcath reported Q4 2025 net loss of $1.9M after full-year net income of $2.7M.

Fourth-quarter net loss was $1.9 million versus a larger loss a year ago as CHEMOSAT commercialization progressed. Full-year 2025 net income was $2.7 million, reflecting improved operating leverage on procedure growth.

  • Q4 net loss $1.9M.
  • FY25 net income $2.7M.
  • CHEMOSAT procedure adoption in liver cancers.
  • Adjusted EBITDA improving with scale.

Headline financials

Total Revenue

$20.7M

Previous: $15.1M+37.3%
EPS (adj)

-$0.05

Previous: -$0.11+54.5%
Gross margin

85.0%

No prior period
R&D expenses

$9.37M

No prior period
SG&A expenses

$10.5M

No prior period
Adjusted EBITDA

$2.4M

No prior period
Net Income

-$1.9M

Previous: -$3.4M+44.2%
Operating Income

-$2.18M

Previous: $3.04M-171.9%
Gross Profit

$17.7M

Previous: $13M+36.6%

Revenue & EPS history

Delcath · Revenue · Quarterly

$20.7M

Q4 2025+37.3%vs Q4 2024
Beat estimate in 6 of 16 quarters(38%)
ActualEstimate

Revenue by segment

Delcath · $24.2M total across 2 segments · Q2 2025

  • HEPZATO KIT
    $22.5M—
  • CHEMOSAT
    $1.66M—

Forward guidance

Management focuses on CHEMOSAT utilization growth and center expansion.

Tailwinds

  • Return to profitability on a full-year basis.
  • Specialty oncology procedure demand.

Headwinds

  • Quarterly volatility in procedure volumes.
  • Reimbursement and center onboarding pace.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q4 2025

Historical avgQ4 2025

-2.1%

Avg return

Earnings day

+0.5%

Avg return

5 days after

+7.7%

Avg return

30 days after

28%

9 / 32 earnings

Positive

+37.5%

Q2 2019

Best reaction

-26.4%

Q3 2018

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2025———
Q1 2026-0.3%+0.6%-5.3%
Q4 2025-11.7%-15.8%-12.1%
Q3 2025-4.7%-9.2%+5.3%
Q1 2025+23.6%+31.7%+41.1%
Q4 2024-1.6%-12.1%-18.0%
Q3 2024-9.0%-14.0%+8.5%
Q2 2024-2.6%-4.2%+33.7%
Q1 2024+33.1%+40.2%+37.4%
Q4 2023+9.2%+2.4%+12.9%
Q3 2023-23.7%-16.9%+10.0%
Q2 2023-20.6%-23.3%+18.2%
Q1 2023+0.2%+7.8%+14.9%
Q4 2022+22.3%+18.8%+17.6%
Q3 2022-6.7%+0.0%+11.3%
Q2 2022-2.3%+10.2%-5.4%
Q1 2022-11.9%-16.7%-28.1%
Q4 2021+1.3%+2.8%+0.0%
Q3 2021-1.8%-5.0%-28.1%
Q2 2021-11.8%-13.5%+1.1%
Q1 2021-7.0%-0.6%+9.8%
Q4 2020-24.8%-7.2%-31.8%
Q3 2020+0.6%+3.6%+36.7%
Q2 2020-2.6%-4.6%-9.3%
Q1 2020-5.2%-5.2%+0.5%
Q4 2019+0.0%+13.8%+55.7%
Q3 2019-4.3%-4.3%-15.2%
Q2 2019+37.5%+27.5%+26.2%
Q1 2019-11.2%+0.0%+22.5%
Q4 2018-6.5%-8.9%-35.5%
Q3 2018-26.4%-0.3%-5.6%
Q2 2018+0.0%+19.0%+78.8%
Q1 2018+2.4%+0.3%-0.6%
Q4 2017———
Q3 2017———
Q2 2017———
Q1 2017———
Q4 2016———
Q3 2016———
Q2 2016———
Q1 2016———
Q4 2015———
Q3 2015———
Q2 2015———
Q1 2015———
Q4 2014———
Q3 2014———
Q2 2014———
Q1 2014———
Q4 2013———
Q3 2013———
Q2 2013———
Q1 2013———
Q4 2012———
Q3 2012———
Q2 2012———
Q1 2012———
Q4 2011———
Q3 2011———
Q2 2011———
Q1 2011———
Q4 2010———
Q3 2010———
Q2 2010———
Q1 2010———

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