DELCATH SYSTEMS, INC.
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
DCTH$20.10-0.8%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| Years Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $2,700 | $(26,386) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Stock option compensation expense | 24,232 | 9,767 |
| Depreciation expense | 238 | 134 |
| Warrant liability fair value adjustment | — | 14,071 |
| Amortization of Right-of-Use Asset | 111 | 95 |
| Amortization of debt discount | — | 460 |
| Interest expense accrued related to convertible notes | — | 133 |
| Interest paid related to convertible notes | — | (847) |
| Amortization of premiums and discounts on marketable securities | (1,696) | (587) |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other assets | (3,421) | (1,639) |
| Accounts receivable | (854) | (10,649) |
| Inventory | (3,319) | (3,611) |
| Accounts payable and accrued expenses | 4,766 | 479 |
| Other liabilities, non-current | (241) | (101) |
| Net cash provided by (used in) operating activities | 22,516 | (18,681) |
| Cash flows from investing activities: | ||
| Purchases of investments | (93,216) | (52,453) |
| Maturities of investments | 68,173 | 52,031 |
| Purchase of property, plant and equipment | (1,547) | (559) |
| Net cash used in investing activities | (26,590) | (981) |
| Cash flows from financing activities: | ||
| Net proceeds from private placement | — | 6,771 |
| Proceeds from the issuance of common stock relating to the employee stock purchase plan | 481 | 250 |
| Repayment of Debt | — | (10,610) |
| Proceeds from the exercise of warrants | 16,158 | 41,317 |
| Proceeds from the exercise of stock options | 4,409 | 1,682 |
| Repurchase and retirement of common stock | (6,000) | — |
| Net cash provided by financing activities | 15,048 | 39,410 |
| Foreign currency effects on cash | 68 | (32) |
| Net increase in total cash | 11,042 | 19,716 |
| Total Cash and Cash Equivalents: | ||
| Beginning of period | 32,412 | 12,696 |
| End of period | $43,454 | $32,412 |
| Years Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Supplemental Disclosure of Cash Flow Information: | ||
| Cash paid during the periods for: | ||
| Interest paid | $— | $1,236 |
| Taxes paid | $1,545 | $— |
| Supplemental Disclosure of Non-Cash Investing and Financing Activities: | ||
| Right of use assets obtained in exchange for lease obligations | $— | $1,029 |
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