Filing Flows › Delcath Systems (DCTH) › Q2 2026
Delcath Systems (DCTH) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 6, 2026
Delcath Systems (DCTH) reported revenue of $29.1M for the second quarter 2026 (Q2 2026), +21% from a year earlier and +17% from the quarter before. Operating margin was 8.2%, net earnings $2.7M (9.2% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $29.1M | +17% | +21% |
| Gross profit | $26.1M | +23% | +25% |
| Operating profit | $2.4M | — | -8% |
| Net earnings | $2.7M | — | -1% |
| Operating cash flow | $5.7M | +567% | -22% |
| Free cash flow | $5.2M | 18× | -24% |
What changed
Revenue was $29.1M in Q2 2026, up 21% year over year and up 17% from the previous quarter. HEPZATO KIT was the largest line at 93% of revenue. HEPZATO KIT added $4.7M year over year (up 21%), 94% of the total change.
Gross margin was 89.8%, up 3.5 points from Q2 2025. Operating profit was $2.4M, a 8.2% margin (down 2.5 points year over year). Operating profit fell $195K even though revenue rose $5.0M versus Q2 2025, so costs grew faster than sales. Operating expenses grew 30% against revenue growth of 21%. The fastest-growing cost line was Research & development (+51%). Net earnings were $2.7M, down 1% year over year. The effective tax rate was 15.5%. Non-operating items added $764K, 24% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $5.7M (down 22% year over year), 214% of net earnings. Non-cash charges added back $100K of depreciation and $5.1M of share-based compensation. Working capital and other items used $2.2M. Capital expenditures of $503K left free cash flow of $5.2M.
Questions
What was Delcath Systems' revenue in the second quarter 2026?
Delcath Systems (DCTH) reported revenue of $29.1M for the second quarter 2026 (Q2 2026), +21% from a year earlier and +17% from the quarter before.
Was Delcath Systems profitable in the second quarter 2026?
Operating profit was $2.4M (8.2% of revenue) and net earnings $2.7M.
Source: Delcath Systems 10-Q on SEC EDGAR.