secwatch.observer — SEC 8-K summary
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Issuer:     DELCATH SYSTEMS, INC. (DCTH)
CIK:        0000872912
Form:       8-K
Filed at:   2025-11-04T23:59:59+00:00
Accession:  0001628280-25-048539
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/872912/000162828025048539/0001628280-25-048539-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/872912/000162828025048539/dcth-20251104.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-048539

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer