---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-048539"
form_type: "8-K"
ticker: "DCTH"
cik: "0000872912"
company_name: "DELCATH SYSTEMS, INC."
filed_at: "2025-11-04T23:59:59+00:00"
generated_at: "2026-05-17T00:47:27.229007+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Delcath Q3 2025 revenue $20.6M (+84% YoY); net income $0.8M; FY revenue guidance $83-85M

## Summary
- Q3 total revenue $20.6M (+84% YoY); HEPZATO revenue $19.3M, CHEMOSAT $1.3M.
- Net income $0.8M (down from $1.9M YoY) due to higher R&D ($8M vs $3.9M) and SG&A ($10.3M vs $7M).
- Non-GAAP adjusted EBITDA $5.3M (vs $1M YoY); cash & investments $88.9M, no debt.
- FY 2025 guidance: revenue $83-85M (150% volume growth), gross margins 85-87%, positive EBITDA & cash flow each quarter.
- Clinical progress: Phase 2 CRC trial dosed first patient; CHOPIN trial showed improved survival; 25 active U.S. centers.

## SEC filing metadata
- accession: 0001628280-25-048539
- form_type: 8-K
- ticker: DCTH
- cik: 0000872912
- company_name: DELCATH SYSTEMS, INC.
- filed_at: 2025-11-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/872912/000162828025048539/0001628280-25-048539-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/872912/000162828025048539/dcth-20251104.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-048539
- JSON: https://secwatch.observer/filing/0001628280-25-048539.json
- Plain text: https://secwatch.observer/filing/0001628280-25-048539.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.