Filing Flows › Delcath Systems (DCTH) › Q2 2026 › vs Q1 2026
Delcath Systems (DCTH) Q2 2026 vs Q1 2026 (quarter over quarter)
Delcath Systems's revenue rose $4.1M (+17%) from $25.0M in Q1 2026 to $29.1M in Q2 2026. The biggest changes: HEPZATO KIT +$3.9M (+17%); CHEMOSAT +$225K (+13%). Gross margin 89.8% against 85.1% (+4.7 pts).
Delcath Systems, Q2 2026: revenue $29.1M (+21% year over year), operating margin 8.2%, net earnings $2.7M, operating cash flow $5.7M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 89.8% | 85.1% | +4.7 pts |
| Operating margin | 8.2% | -6.5% | +14.8 pts |
| Net margin | 9.2% | -4.3% | +13.4 pts |
| Free cash flow margin | 17.9% | 1.1% | +16.7 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| HEPZATO KIT | $27.2M | $23.2M | $3.9M | +17% |
| CHEMOSAT | $2.0M | $1.7M | $225K | +13% |
| Revenue | $29.1M | $25.0M | $4.1M | +17% |
| Gross profit | $26.1M | $21.3M | $4.9M | +23% |
| Cost of revenue | $3.0M | $3.7M | −$751K | -20% |
| Other income, net | $764K | $729K | $35K | +5% |
| Operating profit | $2.4M | −$1.6M | $4.0M | — |
| Operating expenses | $23.8M | $22.9M | $858K | +4% |
| Pre-tax earnings | $3.2M | −$908K | $4.1M | — |
| Research & development | $10.4M | $9.8M | $556K | +6% |
| SG&A | $13.4M | $13.1M | $302K | +2% |
| Net earnings | $2.7M | −$1.1M | $3.7M | — |
| Income tax | $491K | $162K | $329K | +203% |
| Depreciation | $100K | $102K | −$2K | -2% |
| Share-based compensation | $5.1M | $4.9M | $172K | +3% |
| Working capital & other | $2.2M | $3.1M | −$947K | -30% |
| Operating cash flow | $5.7M | $857K | $4.9M | +567% |
| Free cash flow (OCF − capex) | $5.2M | $287K | $4.9M | 18× |
| Capital expenditures | $503K | $570K | −$67K | -12% |
Questions
How much did Delcath Systems's revenue grow quarter over quarter in Q2 2026?
Delcath Systems's revenue rose $4.1M (+17%) from $25.0M in Q1 2026 to $29.1M in Q2 2026.
What drove Delcath Systems's revenue change in Q2 2026?
HEPZATO KIT +$3.9M (+17%); CHEMOSAT +$225K (+13%).