Delcath Sys Financials
This page shows Delcath Sys (DCTH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Delcath Sys has an operating margin of -33.4%, meaning the company retains $-33 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -1849.0% the prior year.
Delcath Sys's revenue surged 1701.7% year-over-year to $37.2M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Delcath Sys carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 12.01, Delcath Sys holds $12.01 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While Delcath Sys generated -$18.7M in operating cash flow, capex of $559K consumed most of it, leaving -$19.2M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Delcath Sys passes 6 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Delcath Sys generates $0.71 in operating cash flow (-$18.7M OCF vs -$26.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Delcath Sys generated $37.2M in revenue in fiscal year 2024. This represents an increase of 1701.7% from the prior year.
Delcath Sys's EBITDA was -$12.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 67.7% from the prior year.
Delcath Sys generated -$19.2M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 38.5% from the prior year.
Delcath Sys reported -$26.4M in net income in fiscal year 2024. This represents an increase of 44.7% from the prior year.
Delcath Sys earned $-0.93 per diluted share (EPS) in fiscal year 2024. This represents an increase of 68.4% from the prior year.
Delcath Sys held $32.4M in cash against $0 in long-term debt as of fiscal year 2024.
Delcath Sys had 33M shares outstanding in fiscal year 2024. This represents an increase of 45.2% from the prior year.
Delcath Sys's gross margin was 83.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 14.1 percentage points from the prior year.
Delcath Sys's operating margin was -33.4% in fiscal year 2024, reflecting core business profitability. This is up 1815.7 percentage points from the prior year.
Delcath Sys's net profit margin was -70.9% in fiscal year 2024, showing the share of revenue converted to profit. This is up 2237.9 percentage points from the prior year.
Delcath Sys invested $13.9M in research and development in fiscal year 2024. This represents a decrease of 20.7% from the prior year.
Delcath Sys invested $559K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 863.8% from the prior year.
DCTH Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $20.6M-14.9% | $24.2M+22.1% | $19.8M+31.0% | $15.1M+94.4% | $7.8M+147.4% | $3.1M+482.4% | $539K+24.2% | $434K |
| Cost of Revenue | $2.6M-20.9% | $3.3M+16.6% | $2.8M+33.8% | $2.1M+40.0% | $1.5M+68.2% | $903K+428.1% | $171K+28.6% | $133K |
| Gross Profit | $17.9M-13.9% | $20.8M+23.0% | $16.9M+30.6% | $13.0M+107.7% | $6.2M+179.4% | $2.2M+507.6% | $368K+22.3% | $301K |
| R&D Expenses | $8.0M+16.0% | $6.9M+37.4% | $5.0M+71.8% | $2.9M-14.1% | $3.4M-8.3% | $3.7M-21.4% | $4.7M+1.0% | $4.7M |
| SG&A Expenses | $10.3M-9.0% | $11.4M+0.7% | $11.3M+60.8% | $7.0M+3.8% | $6.8M-23.2% | $8.8M+26.6% | $7.0M+12.4% | $6.2M |
| Operating Income | -$388K-115.0% | $2.6M+303.4% | $642K-78.9% | $3.0M+177.7% | -$3.9M+61.9% | -$10.3M+9.1% | -$11.3M-7.1% | -$10.6M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | -$455K-189.6% | $508K+160.5% | $195K | $0 | $0 | $0 | N/A | N/A |
| Net Income | $830K-69.2% | $2.7M+152.3% | $1.1M+131.5% | -$3.4M+75.3% | -$13.7M-23.7% | -$11.1M+0.2% | -$11.1M+45.3% | -$20.3M |
| EPS (Diluted) | $0.02-71.4% | $0.07+133.3% | $0.03+150.0% | $-0.06+87.5% | $-0.48-6.7% | $-0.450.0% | $-0.45+60.5% | $-1.14 |
DCTH Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $124.3M+6.3% | $116.9M+33.8% | $87.3M+14.0% | $76.6M+125.8% | $33.9M-6.1% | $36.1M-6.5% | $38.6M-18.8% | $47.6M |
| Current Assets | $120.6M+6.3% | $113.5M+34.5% | $84.3M+14.4% | $73.8M+134.9% | $31.4M-6.7% | $33.6M-9.5% | $37.2M-19.4% | $46.1M |
| Cash & Equivalents | $41.8M+21.5% | $34.4M+169.4% | $12.8M-60.6% | $32.4M+119.3% | $14.8M+25.7% | $11.8M-7.0% | $12.6M-68.7% | $40.5M |
| Inventory | $10.7M+2.1% | $10.5M+47.5% | $7.1M+2.9% | $6.9M+9.8% | $6.3M+73.8% | $3.6M+9.4% | $3.3M+24.6% | $2.7M |
| Accounts Receivable | $13.8M-13.2% | $15.8M+13.6% | $13.9M+28.0% | $10.9M+192.3% | $3.7M+138.2% | $1.6M+549.0% | $241K+17.6% | $205K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $9.4M-20.5% | $11.9M+67.7% | $7.1M-9.6% | $7.8M-73.6% | $29.7M+38.4% | $21.5M-5.9% | $22.8M-0.1% | $22.9M |
| Current Liabilities | $8.0M-23.2% | $10.4M+97.4% | $5.3M-13.9% | $6.1M-50.0% | $12.3M-7.9% | $13.3M-18.9% | $16.4M+17.7% | $14.0M |
| Long-Term Debt | N/A | N/A | N/A | $0-100.0% | $4.5M-39.0% | $7.4M-27.5% | $10.2M | N/A |
| Total Equity | $114.8M+9.4% | $105.0M+30.9% | $80.2M+16.7% | $68.7M+1539.9% | $4.2M-71.3% | $14.6M-7.3% | $15.8M-36.2% | $24.7M |
| Retained Earnings | -$527.0M+0.2% | -$527.8M+0.5% | -$530.5M+0.2% | -$531.5M-0.3% | -$530.0M-2.7% | -$516.3M-2.2% | -$505.2M-2.3% | -$494.0M |
DCTH Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $4.8M-34.6% | $7.3M+231.0% | $2.2M+319.0% | -$1.0M+77.4% | -$4.5M+53.6% | -$9.6M-17.2% | -$8.2M+10.7% | -$9.2M |
| Capital Expenditures | $459K+15.3% | $398K+184.3% | $140K-38.9% | $229K+126.7% | $101K+676.9% | $13K-31.6% | $19K+2000.0% | -$1K |
| Free Cash Flow | $4.3M-37.4% | $6.9M+234.2% | $2.1M+267.0% | -$1.2M+72.9% | -$4.6M+52.6% | -$9.6M-17.1% | -$8.2M+10.5% | -$9.2M |
| Investing Cash Flow | -$466K-12.3% | -$415K+98.3% | -$25.1M-65.1% | -$15.2M-248.1% | $10.3M+120.7% | $4.7M+123.7% | -$19.7M-1967100.0% | $1K |
| Financing Cash Flow | $3.1M-78.8% | $14.6M+350.0% | $3.3M-91.9% | $40.4M+1515.0% | -$2.9M-171.0% | $4.0M+402000.0% | $1K-100.0% | $35.1M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
DCTH Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 87.2%+1.0pp | 86.3%+0.6pp | 85.6%-0.3pp | 85.9%+5.5pp | 80.4%+9.2pp | 71.2%+3.0pp | 68.3%-1.1pp | 69.3% |
| Operating Margin | -1.9%-12.6pp | 10.7%+7.5pp | 3.3%-16.9pp | 20.1%+70.5pp | -50.4%+277.1pp | -327.4%+1769.8pp | -2097.2%+335.0pp | -2432.3% |
| Net Margin | 4.0%-7.1pp | 11.2%+5.8pp | 5.4%+27.9pp | -22.5%+154.4pp | -176.9%+177.0pp | -354.0%+1712.1pp | -2066.0%+2620.6pp | -4686.6% |
| Return on Equity | 0.7%-1.9pp | 2.6%+1.2pp | 1.3%-20.4pp | 21.8% | N/A | N/A | N/A | N/A |
| Return on Assets | 0.7%-1.6pp | 2.3%+1.1pp | 1.2%+5.7pp | -4.4%+36.1pp | -40.5%-9.7pp | -30.8%-1.9pp | -28.8%+13.9pp | -42.8% |
| Current Ratio | 15.06+4.2 | 10.88-5.1 | 15.95+3.9 | 12.01+9.5 | 2.55+0.0 | 2.52+0.3 | 2.26-1.0 | 3.30 |
| Debt-to-Equity | 0.08-0.0 | 0.11+0.0 | 0.09+0.1 | 0.00-1.1 | 1.07+0.6 | 0.50-0.1 | 0.64-0.3 | 0.92 |
| FCF Margin | 21.0%-7.6pp | 28.5%+18.1pp | 10.4%+18.6pp | -8.2%+50.4pp | -58.6%+247.1pp | -305.7%+1215.1pp | -1520.8%+590.3pp | -2111.1% |
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Frequently Asked Questions
What is Delcath Sys's annual revenue?
Delcath Sys (DCTH) reported $37.2M in total revenue for fiscal year 2024. This represents a 1701.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Delcath Sys's revenue growing?
Delcath Sys (DCTH) revenue grew by 1701.7% year-over-year, from $2.1M to $37.2M in fiscal year 2024.
Is Delcath Sys profitable?
No, Delcath Sys (DCTH) reported a net income of -$26.4M in fiscal year 2024, with a net profit margin of -70.9%.
What is Delcath Sys's earnings per share (EPS)?
Delcath Sys (DCTH) reported diluted earnings per share of $-0.93 for fiscal year 2024. This represents a 68.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Delcath Sys's EBITDA?
Delcath Sys (DCTH) had EBITDA of -$12.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Delcath Sys have?
As of fiscal year 2024, Delcath Sys (DCTH) had $32.4M in cash and equivalents against $0 in long-term debt.
What is Delcath Sys's gross margin?
Delcath Sys (DCTH) had a gross margin of 83.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Delcath Sys's operating margin?
Delcath Sys (DCTH) had an operating margin of -33.4% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Delcath Sys's net profit margin?
Delcath Sys (DCTH) had a net profit margin of -70.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Delcath Sys's free cash flow?
Delcath Sys (DCTH) generated -$19.2M in free cash flow during fiscal year 2024. This represents a 38.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Delcath Sys's operating cash flow?
Delcath Sys (DCTH) generated -$18.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Delcath Sys's total assets?
Delcath Sys (DCTH) had $76.6M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Delcath Sys's capital expenditures?
Delcath Sys (DCTH) invested $559K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Delcath Sys spend on research and development?
Delcath Sys (DCTH) invested $13.9M in research and development during fiscal year 2024.
How many shares does Delcath Sys have outstanding?
Delcath Sys (DCTH) had 33M shares outstanding as of fiscal year 2024.
What is Delcath Sys's current ratio?
Delcath Sys (DCTH) had a current ratio of 12.01 as of fiscal year 2024, which is generally considered healthy.
What is Delcath Sys's debt-to-equity ratio?
Delcath Sys (DCTH) had a debt-to-equity ratio of 0.00 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Delcath Sys's return on assets (ROA)?
Delcath Sys (DCTH) had a return on assets of -34.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Delcath Sys's cash runway?
Based on fiscal year 2024 data, Delcath Sys (DCTH) had $32.4M in cash against an annual operating cash burn of $18.7M. This gives an estimated cash runway of approximately 21 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Delcath Sys's Piotroski F-Score?
Delcath Sys (DCTH) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Delcath Sys's earnings high quality?
Delcath Sys (DCTH) has an earnings quality ratio of 0.71x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Delcath Sys?
Delcath Sys (DCTH) scores 60 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.