Filing Flows › Delcath Systems (DCTH) › Q1 2026 › vs Q4 2025
Delcath Systems (DCTH) Q1 2026 vs Q4 2025 (quarter over quarter)
Delcath Systems's revenue rose $4.3M (+21%) from $20.7M in Q4 2025 to $25.0M in Q1 2026. The biggest changes: HEPZATO KIT +$4.2M (+22%); CHEMOSAT +$78K (+5%).
Delcath Systems, Q1 2026: revenue $25.0M (+26% year over year), operating margin -6.5%, net loss $1.1M, operating cash flow $857K. The chart draws each line against Q4 2025, the increases inside each band.
Margins
| Q1 2026 | Q4 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 1.1% | 37.1% | -36.0 pts |
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| HEPZATO KIT | $23.2M | $19.1M | $4.2M | +22% |
| CHEMOSAT | $1.7M | $1.7M | $78K | +5% |
| Revenue | $25.0M | $20.7M | $4.3M | +21% |
| Other income, net | $729K | $850K | −$121K | -14% |
| Net loss | $1.1M | $1.9M | −$826K | -44% |
| Costs & expenses | $26.8M | $23.5M | $3.3M | +14% |
| Operating costs | $26.6M | $22.9M | $3.7M | +16% |
| Income tax | $162K | $562K | −$400K | -71% |
| Cost of revenue | $3.7M | $3.0M | $726K | +24% |
| Research & development | $9.8M | $9.4M | $453K | +5% |
| SG&A | $13.1M | $10.5M | $2.5M | +24% |
| Operating cash sources | $5.0M | $4.6M | $456K | +10% |
| Depreciation | $102K | $80K | $22K | +27% |
| Share-based compensation | $4.9M | $4.5M | $434K | +10% |
| Net loss absorbed | $1.1M | $1.9M | −$826K | -44% |
| Working capital & other | $3.1M | −$5.6M | $8.7M | — |
| Operating cash flow | $857K | $8.2M | −$7.4M | -90% |
| Free cash flow (OCF − capex) | $287K | $7.7M | −$7.4M | -96% |
| Capital expenditures | $570K | $550K | $20K | +4% |
Questions
How much did Delcath Systems's revenue grow quarter over quarter in Q1 2026?
Delcath Systems's revenue rose $4.3M (+21%) from $20.7M in Q4 2025 to $25.0M in Q1 2026.
What drove Delcath Systems's revenue change in Q1 2026?
HEPZATO KIT +$4.2M (+22%); CHEMOSAT +$78K (+5%).