Filing Flows › Delcath Systems (DCTH) › Q3 2026 › vs Q3 2025
Delcath Systems (DCTH) Q3 2026 vs Q3 2025 (year over year)
Delcath Systems's revenue rose $14.5M (+71%) from $20.6M in Q3 2025 to $35.1M in Q3 2026. The biggest changes: HEPZATO KIT +$13.4M (+70%); CHEMOSAT +$1.1M (+85%). Gross margin 88.8% against 87.2% (+1.6 pts).
Delcath Systems, Q3 2026: revenue $35.1M (+71% year over year), operating margin 20.3%, net earnings $7.0M, operating cash flow $8.2M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 88.8% | 87.2% | +1.6 pts |
| Operating margin | 20.3% | -1.9% | +22.2 pts |
| Net margin | 19.8% | 4.0% | +15.8 pts |
| Free cash flow margin | 19.7% | 21.0% | -1.3 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| HEPZATO KIT | $32.7M | $19.3M | $13.4M | +70% |
| CHEMOSAT | $2.4M | $1.3M | $1.1M | +85% |
| Revenue | $35.1M | $20.6M | $14.5M | +71% |
| Gross profit | $31.2M | $17.9M | $13.2M | +74% |
| Cost of revenue | $3.9M | $2.6M | $1.3M | +49% |
| Other income, net | $851K | $763K | $88K | +12% |
| Operating profit | $7.1M | −$388K | $7.5M | — |
| Operating expenses | $24.1M | $18.3M | $5.7M | +31% |
| Pre-tax earnings | $8.0M | $375K | $7.6M | 21× |
| Research & development | $11.0M | $8.0M | $3.0M | +38% |
| SG&A | $13.1M | $10.3M | $2.7M | +26% |
| Net earnings | $7.0M | $830K | $6.1M | +738% |
| Income tax | $1.0M | −$455K | $1.5M | — |
| Depreciation | $200K | $100K | $100K | +100% |
| Share-based compensation | $4.2M | $5.6M | −$1.4M | -25% |
| Working capital & other | $3.2M | $1.8M | $1.4M | +78% |
| Operating cash flow | $8.2M | $4.8M | $3.4M | +71% |
| Free cash flow (OCF − capex) | $6.9M | $4.3M | $2.6M | +60% |
| Capital expenditures | $1.3M | $459K | $801K | +175% |
Questions
How much did Delcath Systems's revenue grow year over year in Q3 2026?
Delcath Systems's revenue rose $14.5M (+71%) from $20.6M in Q3 2025 to $35.1M in Q3 2026.
What drove Delcath Systems's revenue change in Q3 2026?
HEPZATO KIT +$13.4M (+70%); CHEMOSAT +$1.1M (+85%).