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Anika Therapeutics vs Delcath Systems: ANIK and DCTH compared
Anika Therapeutics is the larger company: $30.6M of revenue in its latest quarter (Q3 2026) against $29.1M for Delcath Systems (Q2 2026). Delcath Systems is growing faster (+21% against +10% a year earlier). Delcath Systems is more profitable, with an operating margin of 8.2% against -2.3%.
Where the money goes: ANIK and DCTH
Anika Therapeutics (ANIK) · Q3 2026
Anika Therapeutics, Q3 2026: revenue $30.6M (+10% year over year), operating margin -2.3%, net loss $311K, operating cash flow $8.4M. The chart follows the revenue to costs, profit and cash.
Delcath Systems (DCTH) · Q2 2026
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.
| Anika Therapeutics (ANIK) | Delcath Systems (DCTH) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $30.6M | $29.1M |
| Revenue growth, Y/Y | +10% | +21% |
| Gross margin | — | 89.8% |
| Operating margin | -2.3% | 8.2% |
| Net earnings | −$311K | $2.7M |
| Net margin | -1.0% | 9.2% |
| Operating cash flow | $8.4M | $5.7M |
| Free cash flow | $6.7M | $5.2M |
Where the revenue comes from
Anika Therapeutics
- OEM Channel: $16.6M (54%)
- Commercial Channel: $14.0M (46%)
Delcath Systems
- HEPZATO KIT: $27.2M (93%)
- CHEMOSAT: $2.0M (7%)
Questions
Which is bigger, Anika Therapeutics or Delcath Systems?
Anika Therapeutics is the larger company: $30.6M of revenue in its latest quarter (Q3 2026) against $29.1M for Delcath Systems (Q2 2026).
Is Anika Therapeutics or Delcath Systems growing faster?
Delcath Systems is growing faster (+21% against +10% a year earlier).
Which is more profitable, Anika Therapeutics or Delcath Systems?
Delcath Systems is more profitable, with an operating margin of 8.2% against -2.3%.
More: Anika Therapeutics earnings · how Anika Therapeutics makes money · Delcath Systems earnings · how Delcath Systems makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Aug 6, 2026). Fiscal quarters can end on different dates. Not investment advice.