On October 18, 2025 Delcath Systems, Inc. (NASDAQ: DCTH), an interventional oncology company focused on the treatment of primary and metastatic liver cancers, reported preliminary revenue and financial results for the quarter ended September 30, 2025, and updated 2025 full-year revenue guidance.
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Preliminary Third Quarter Financial Results (unaudited)
Total CHEMOSAT and HEPZATO KIT revenue of approximately $20.5 million
HEPZATO KIT revenue of $19.2 million
CHEMOSAT revenue of $1.3 million
Gross margins expected to be 87%
Net income of $0.8 million
Positive adjusted EBITDA of $5.3 million
Positive operating cashflow of approximately $4.8 million
As of September 30, 2025, the Company had approximately $88.9 million of cash, cash equivalents and short-term investments and no debt.
2025 Full Year Financial Guidance
Total CHEMOSAT and HEPZATO KIT revenue of $83 million to $85 million, reflecting an approximate 150% increase in treatment volume over 2024
Quarterly gross margins between 85% to 87%
Positive adjusted EBITDA and operating cashflow in each quarter of 2025
"Although our third quarter revenue was modestly lower than the second quarter, this decline was primarily due to the NDRA discounts and unexpected summer seasonality which impacted the scheduling of new patient starts," said Gerard Michel, Chief Executive Officer of Delcath Systems. "We are confident that we will achieve strong growth in 2026 and beyond. This expectation is based on our ongoing expansion of active treatment centers and the positive influence of the CHOPIN trial results, which have demonstrated impressive efficacy and offer practical advantages for initiating patients on systemic therapy, while preparing for PHP therapy."
Conference Call Information
Delcath Systems, Inc. will host a conference call and webcast on October 20, 2025, at 8:45 a.m. Eastern Time to discuss the Phase 2 CHOPIN Trial results and provide a brief overview of the financial results announced in this release. Joining Delcath management on the call with pre-recorded remarks will be Dr. Vincent T. Ma, Assistant Professor and Medical Oncologist at the University of Wisconsin Department of Medicine, a current user of HEPZATO KIT for the treatment of metastatic uveal melanoma patients, an expert in treating cutaneous melanoma, and a co-author on the seminal Nature Medicine paper exploring liver immune tolerance mechanisms in cancer.
To participate in this event, dial in approximately 5 to 10 minutes before the beginning of the call.
Event Date: Monday, October 20
Time: 8:45 AM Eastern Time
Participant Numbers:
Toll Free: 1-877-407-3982
International: 1-201-493-6780
Webcast: View Source;tp_key=6f3953dd75
A replay of the webinar will be available shortly after the conclusion of the call and will be archived on the company’s website View Source
(Press release, Delcath Systems, OCT 18, 2025, View Source [SID1234656767])