Filing Flows › Delcath Systems (DCTH) › Q2 2026 › vs Q2 2025
Delcath Systems (DCTH) Q2 2026 vs Q2 2025 (year over year)
Delcath Systems's revenue rose $5.0M (+21%) from $24.2M in Q2 2025 to $29.1M in Q2 2026. The biggest changes: HEPZATO KIT +$4.7M (+21%); CHEMOSAT +$316K (+19%). Gross margin 89.8% against 86.3% (+3.5 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 89.8% | 86.3% | +3.5 pts |
| Operating margin | 8.2% | 10.7% | -2.5 pts |
| Net margin | 9.2% | 11.2% | -2.0 pts |
| Free cash flow margin | 17.9% | 28.5% | -10.7 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| HEPZATO KIT | $27.2M | $22.5M | $4.7M | +21% |
| CHEMOSAT | $2.0M | $1.7M | $316K | +19% |
| Revenue | $29.1M | $24.2M | $5.0M | +21% |
| Gross profit | $26.1M | $20.8M | $5.3M | +25% |
| Cost of revenue | $3.0M | $3.3M | −$333K | -10% |
| Other income, net | $764K | $615K | $149K | +24% |
| Operating profit | $2.4M | $2.6M | −$195K | -8% |
| Operating expenses | $23.8M | $18.2M | $5.5M | +30% |
| Pre-tax earnings | $3.2M | $3.2M | −$46K | -1% |
| Research & development | $10.4M | $6.9M | $3.5M | +51% |
| SG&A | $13.4M | $11.4M | $2.0M | +18% |
| Net earnings | $2.7M | $2.7M | −$29K | -1% |
| Income tax | $491K | $508K | −$17K | -3% |
| Depreciation | $100K | $100K | $0 | 0% |
| Share-based compensation | $5.1M | $7.2M | −$2.1M | -29% |
| Working capital & other | $2.2M | $2.7M | −$539K | -20% |
| Operating cash flow | $5.7M | $7.3M | −$1.6M | -22% |
| Free cash flow (OCF − capex) | $5.2M | $6.9M | −$1.7M | -24% |
| Capital expenditures | $503K | $398K | $105K | +26% |
Questions
How much did Delcath Systems's revenue grow year over year in Q2 2026?
Delcath Systems's revenue rose $5.0M (+21%) from $24.2M in Q2 2025 to $29.1M in Q2 2026.
What drove Delcath Systems's revenue change in Q2 2026?
HEPZATO KIT +$4.7M (+21%); CHEMOSAT +$316K (+19%).