Business Context and Reporting Period
Company: Delcath Systems, Inc. (DCTH)
Filing Type: Form 8-K (Current Report)
Date of Report: January 13, 2025
Reporting Period: Preliminary unaudited results for the quarter and full year ended December 31, 2024.
Key Financial Metrics
| Metric | Q4 2024 (Preliminary) | Full Year 2024 (Preliminary) |
|---|---|---|
| Total Revenue | $15.1 million | $37.2 million |
| HEPZATO KIT Revenue | $13.7 million | $32.3 million |
| CHEMOSAT Revenue | $1.4 million | $4.9 million |
| Gross Margins | 80% - 85% (Expected Range) | 80% - 85% (Expected Range) |
| Cash & Equivalents | $53.2 million (as of Dec 31, 2024) | |
| Debt | None (as of Dec 31, 2024) |
Material Changes and Operational Updates
- Active Sites: As of December 31, 2024, there were 14 active sites utilizing the HEPZATO KIT.
- Share Count: Approximately 36.2 million shares of common stock were issued and outstanding as of December 31, 2024.
- Revenue Composition: HEPZATO KIT remains the primary revenue driver, accounting for the majority of total revenue in both the quarter and full year.
Guidance, Outlook, and Risks
Management Commentary: The company has not yet completed its financial close process for the fourth quarter and full year 2024. Consequently, actual results may vary from the estimated preliminary results due to audit adjustments and other developments.
Risks and Contingencies:
- Unaudited Data: The estimated preliminary financial results have not been audited or reviewed by the independent registered public accounting firm.
- Estimation Risk: These estimates should not be viewed as a substitute for full interim or annual audited financial statements.
Guidance: No specific forward-looking guidance for future periods was provided in this filing; the document focuses solely on preliminary 2024 results.
Investor Verification Checklist
- Verify the final audited revenue figures against the preliminary estimates of $15.1 million (Q4) and $37.2 million (FY) once the 10-Q and 10-K are filed.
- Confirm the exact gross margin percentage within the stated 80%-85% range in the final financial statements.
- Monitor the number of active HEPZATO KIT sites to assess growth trajectory beyond the reported 14 sites.
- Review the upcoming audited balance sheet to confirm the $53.2 million cash position and zero debt status.