Filing Flows › Delcath Systems (DCTH) › Q1 2025
Delcath Systems (DCTH) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Delcath Systems (DCTH) reported revenue of $19.8M for the first quarter 2025 (Q1 2025), +530% from a year earlier and +31% from the quarter before. Operating margin was 3.2%, net earnings $1.1M (5.4% of revenue).
Delcath Systems, Q1 2025: revenue $19.8M (+530% year over year), operating margin 3.2%, net earnings $1.1M, operating cash flow $2.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $19.8M | +31% | +530% |
| Gross profit | $16.9M | +31% | +658% |
| Operating profit | $642K | -79% | — |
| Net earnings | $1.1M | — | — |
| Operating cash flow | $2.2M | — | — |
| Free cash flow | $2.1M | — | — |
What changed
Revenue was $19.8M in Q1 2025, up 530% year over year and up 31% from the previous quarter. HEPZATO KIT was the largest line at 91% of revenue. HEPZATO KIT added $16.0M year over year (up 798%), 96% of the total change.
Gross margin was 85.6%, up 14.4 points from a year earlier. Operating profit was $642K, a 3.2% margin (up 330.7 points year over year). Operating expenses grew 30% against revenue growth of 530%. The fastest-growing cost line was Research & development (+35%). Net earnings were $1.1M. The effective tax rate was 15.4%. Non-operating items added $622K, 49% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $2.2M, 206% of net earnings. Non-cash charges added back $43K of depreciation and $6.9M of share-based compensation. Working capital and other items used $5.8M. Capital expenditures of $140K left free cash flow of $2.1M.
Questions
What was Delcath Systems' revenue in the first quarter 2025?
Delcath Systems (DCTH) reported revenue of $19.8M for the first quarter 2025 (Q1 2025), +530% from a year earlier and +31% from the quarter before.
Was Delcath Systems profitable in the first quarter 2025?
Operating profit was $642K (3.2% of revenue) and net earnings $1.1M.
Source: Delcath Systems 10-Q on SEC EDGAR.