DCTH DELCATH SYSTEMS, INC.
Price Chart
Executive Summary
Delcath Systems reported Q1 2026 revenue of $25.0M (+26% YoY), beating the $23.4M consensus, but posted a GAAP net loss of $1.1M vs net income of $1.1M a year ago. The company maintained its FY2026 revenue guidance of at least $100M and highlighted 36% HEPZATO volume growth and the CHOPIN trial publication in The Lancet Oncology as key catalysts.
Key Financial Metrics
Actionable Insight
Revenue growth is strong (+26% YoY) and the CHOPIN publication is a positive clinical catalyst, but the GAAP net income swing to a loss and declining adjusted EBITDA are headwinds. Monitor the Q2 2026 report for evidence that the Lancet publication is converting into accelerating procedure volume and margin improvement.
Key Facts
- Q1 2026 total revenue of $25.0M, up 26% from $19.8M in Q1 2025
- GAAP net loss of $1.1M vs net income of $1.1M in Q1 2025
- GAAP diluted EPS of -$0.03 vs $0.03 in Q1 2025
- Non-GAAP adjusted EBITDA of $3.4M, down from $7.6M in Q1 2025
- FY2026 revenue guidance maintained at least $100M, gross margins 84%-87%
- HEPZATO volume grew ~36% YoY in Q1 2026; 29 active treatment centers
- CHOPIN Phase 2 trial results published in The Lancet Oncology
- Cash and investments of $89.3M, no debt as of March 31, 2026
- Repurchased 316,023 shares for ~$3.0M in Q1 2026 under $25M buyback program
Financial Impact
Revenue beat consensus by ~$1.6M (6.8%), but GAAP net income swung to a loss of $1.1M from a $1.1M profit a year ago. Adjusted EBITDA declined 55% to $3.4M.
Risk Factors
- GAAP net loss and declining adjusted EBITDA vs prior year
- FY2026 guidance of 'at least $100M' unchanged — no upward revision despite Q1 beat
- R&D expenses nearly doubled YoY to $9.8M, pressuring profitability
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-031725 |
| Document: dcth-20260507.htm | 0001628280-26-031725 |
| Document: 0001628280-26-031725-index-headers.html | 0001628280-26-031725 |
| Document: 0001628280-26-031725-index.html | 0001628280-26-031725 |
| Document: 0001628280-26-031725.txt | 0001628280-26-031725 |
| 8-K Data (Synthetic) | 0001628280-26-031725 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 11, 2026
2d ago
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Institutional Cluster
| $11.34 awaiting T+5 | awaiting T+5 | — | $11.72 (+3.35%) |
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May 14, 2026
4w ago
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8-K
| $11.46 $11.45 | ▼ −0.09% | ▲ +0.63% | $11.72 (+2.27%) |
|
May 7, 2026
5w ago
|
8-K
| $11.24 $11.61 | ▲ +3.29% | ▲ +1.79% | $11.72 (+4.27%) |
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Apr 2, 2026
10w ago
|
DEFA14A
| $9.63 $10.04 | ▲ +4.26% | ▲ +0.64% | $11.72 (+21.70%) |
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Mar 2, 2026
14w ago
|
Insider Cluster
| $8.93 $9.12 | ▲ +2.13% | ▲ +3.34% | $11.72 (+31.24%) |
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Feb 28, 2026
15w ago
|
Institutional Cluster
| $8.93 $9.12 | ▲ +2.13% | ▲ +3.34% | $11.72 (+31.24%) |
|
Feb 26, 2026
15w ago
|
8-K
| $9.00 $9.08 | ▲ +0.89% | ▲ +2.02% | $11.72 (+30.22%) |
US Market Status
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