DELCATH SYSTEMS, INC. DCTH
We are an interventional oncology company focused on the treatment of cancers primary or metastatic to the liver. Our lead product, the HEPZATOTM KIT (melphalan for Injection/Hepatic Delivery System), a drug/device combination product ("HEPZATO" or "HEPZATO KIT"), was approved by the US Food and Drug Administration (the "FDA") on August 14, 2023, indicated as a liver-directed treatment for adult patients with uveal melanoma with unresectable hepatic metastases affecting less than 50% of the liver and no extrahepatic disease, or extrahepatic disease limited to the bone, lymph nodes, subcutaneous tissues, or lung that is amenable to resection, or radiation. The first commercial use of the HEPZATO for the treatment of metastatic hepatic dominant uveal melanoma ("mUM") took place in January 2024.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- United States
- Foreign
| Region | FY2025 | FY2024 |
|---|---|---|
| United States | $78.8M | $32.3M |
| Foreign | $6.4M | $4.9M |
As the company reported it, from the “Segment Information - Schedule of Revenue by Location (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $85.2M | $37.2M | $2.1M | $2.7M | $3.6M | — | — | — | $2.7M | $2.0M |
| Cost of revenue | $11.8M | $6.2M | $635.0K | $686.0K | $671.0K | $640.0K | $719.0K | $1.0M | $701.0K | $550.0K |
| Gross profit | $73.4M | $31.0M | $1.4M | $2.0M | $2.9M | $1.0M | $861.0K | $2.4M | $2.0M | $1.4M |
| R&D | $29.2M | $13.9M | $17.5M | $18.6M | $13.8M | $11.2M | $9.5M | $19.6M | $10.5M | $8.4M |
| SG&A | $43.5M | $29.6M | $22.1M | $17.3M | $13.6M | $11.1M | $11.3M | $9.8M | $9.7M | $9.4M |
| Total operating expenses | $72.8M | $43.4M | $39.6M | $35.9M | $27.4M | $22.3M | $20.8M | $29.5M | $20.2M | $17.9M |
| Operating income | $660.0K | -$12.4M | -$38.2M | -$33.9M | -$24.5M | -$21.3M | -$19.9M | -$27.1M | -$18.2M | -$16.4M |
| Interest expense | — | — | — | — | — | — | — | — | $21.7M | $14.3M |
| Pre-tax income | $3.5M | -$26.4M | -$47.7M | -$36.5M | -$25.6M | -$24.2M | -$8.9M | -$19.2M | -$45.1M | -$18.0M |
| Income tax | $810.0K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net income | $2.7M | -$26.4M | -$47.7M | -$36.5M | -$25.6M | -$24.2M | -$8.9M | -$19.2M | -$45.1M | -$18.0M |
| EPS, basic | 0.08 | -0.93 | -2.94 | -4.12 | -3.59 | -8.35 | -342.83 | -0.72 | -3,250.00 | — |
| EPS, diluted | 0.07 | -0.93 | -2.94 | -4.12 | -3.59 | -8.35 | -342.83 | -504.00 | -3,250.00 | -3,707.00 |
| Shares, diluted (wtd. avg.) | 39.9M | 28.5M | 16.2M | 8.9M | 7.1M | 2.9M | 25,900 | 26.7M | 14,039 | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $43.5M | $32.4M | $12.6M | $7.7M | $22.8M | $28.6M | $10.0M | $2.5M | $4.0M | $4.4M |
| Short-term investments | $47.6M | $20.8M | $19.8M | $0 | — | — | — | — | — | — |
| Receivables | $11.7M | $10.9M | $241.0K | $366.0K | $44.0K | $57.0K | $21.0K | $585.0K | $317.0K | $403.0K |
| Inventory | $10.3M | $6.9M | $3.3M | $2.0M | $1.4M | $855.0K | $654.0K | $858.0K | $1.2M | $660.0K |
| Total current assets | $119.5M | $73.8M | $37.2M | $16.2M | $31.2M | $32.3M | $12.6M | $5.9M | $7.6M | $34.2M |
| Property, plant and equipment | $3.2M | $1.8M | $1.4M | $1.4M | $1.3M | $1.4M | $735.0K | $925.0K | $1.3M | $1.1M |
| Total assets | $123.6M | $76.6M | $38.6M | $17.9M | $33.1M | $34.6M | $14.2M | $6.8M | $8.9M | $35.2M |
| Accounts payable | $2.7M | $961.0K | $1.0M | $2.0M | $638.0K | $1.8M | $4.5M | $7.7M | $3.8M | $594.0K |
| Total current liabilities | $10.9M | $6.1M | $16.4M | $14.7M | $6.0M | $10.0M | $16.0M | $17.8M | $7.8M | $36.1M |
| Long-term debt | — | $0 | $10.2M | $15.7M | — | — | — | — | — | — |
| Total liabilities | $12.4M | $7.8M | $22.8M | $23.7M | $21.2M | $12.6M | $20.6M | $21.8M | $8.2M | $36.7M |
| Retained earnings | -$528.8M | -$531.5M | -$505.2M | -$457.5M | -$421.0M | -$395.3M | -$371.2M | -$344.1M | -$324.8M | -$279.2M |
| Total equity | $111.2M | $68.7M | $15.8M | -$5.9M | $12.0M | $22.1M | -$6.4M | -$14.9M | $678.0K | -$1.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $22.5M | -$18.7M | -$31.3M | -$24.9M | -$22.6M | -$22.9M | -$23.7M | -$14.7M | -$15.4M | -$14.2M |
| Depreciation and amortisation | $238.0K | $134.0K | $128.0K | $132.0K | $146.0K | $167.0K | $212.0K | $444.0K | $310.0K | $305.0K |
| Capital expenditure | $1.5M | $559.0K | $58.0K | $209.0K | $143.0K | $782.0K | $24.0K | $76.0K | $524.0K | $258.0K |
| Investing cash flow | -$26.6M | -$981.0K | -$19.7M | -$209.0K | -$143.0K | -$782.0K | -$24.0K | -$76.0K | -$524.0K | -$1.3M |
| Financing cash flow | $15.0M | $39.4M | $51.8M | $10.1M | $20.8M | $42.4M | $30.3M | $13.2M | -$10.5M | $7.4M |
| Buybacks | $6.0M | $0 | — | — | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-012019.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.0M | $2.7M | — | — | — | $3.6M | $2.7M | $2.1M | $37.2M | $85.2M |
| Gross profit | $1.4M | $2.0M | $2.4M | $861.0K | $1.0M | $2.9M | $2.0M | $1.4M | $31.0M | $73.4M |
| Net income | -$18.0M | -$45.1M | -$19.2M | -$8.9M | -$24.2M | -$25.6M | -$36.5M | -$47.7M | -$26.4M | $2.7M |
Recent filings and events
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Results announced Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event Item 8.01
- Other event Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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