Phathom Pharmaceuticals, Inc.
PHAT Nasdaq· Pharmaceutical Preparations
Last close · Oct 23, 2026
$5.74
KIRA · Stoqly’s AI analyst, in plain words
- Phathom Pharmaceuticals, Inc. had $175M of revenue in fiscal 2025, up 216.9% on the year before.
- Its operating margin was −91.4%, up 410.8 pts: of every 100 in sales, about −91 is left after running the business.
- Phathom Pharmaceuticals, Inc. lost $221M in fiscal 2025.
- Free cash flow was −$167M in fiscal 2025, −95.4% of revenue.
- Phathom Pharmaceuticals, Inc. owes $79.1M more than it holds in cash.
Market cap
$481M
P/E
—
Revenue
$175M
Net income
−$221M
Free cash flow
−$167M
Operating margin
−91.4%
Phathom Pharmaceuticals, Inc. in 30 seconds · fiscal 2025
Are sales growing?
+216.9%
Yes. Sales grew 216.9% last year.
Does it make a profit?
−126.3%
No. It lost money last year.
Does profit turn into cash?
−95.4%
No. It spent more cash than it brought in.
How healthy are the accounts?
4 / 9
Mixed. It passes 4 of 9 health tests.
How is the share priced?
—
No P/E: it made no profit over the last four quarters.
What Phathom Pharmaceuticals, Inc. does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 26, 2026
- Legal name
- Phathom Pharmaceuticals, Inc.
- CIK
- 0001783183
Phathom Pharmaceuticals, Inc. · PHAT
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | — | $0.0M | $0.7M | $55.3M | $175M |
| Revenue growth | — | — | — | 8,001.5% | 216.9% |
| Gross margin | — | — | 75.5% | 85.6% | 87.1% |
| Operating margin | — | — | −24,532.6% | −502.2% | −91.4% |
| Net income | −$144M | −$198M | −$202M | −$334M | −$221M |
| Net margin | — | — | −29,558.9% | −605.1% | −126.3% |
| Diluted EPS | −$3.89 | −$5.05 | −$3.93 | −$5.29 | −$3.03 |
| Cash | |||||
| Cash from operations | −$148M | −$147M | −$138M | −$267M | −$167M |
| Capital expenditure | $0.3M | $1.0M | $1.6M | $0.1M | $0.2M |
| Free cash flow | −$149M | −$148M | −$139M | −$267M | −$167M |
| FCF margin | — | — | −20,412.6% | −483.1% | −95.4% |
| Share count change | 11.4% | 5.7% | 31.1% | 23.2% | 15.4% |
| Debt and strength | |||||
| Cash and short-term investments | $183M | $155M | $381M | $297M | $130M |
| Debt incl. finance leases | $89.7M | $95.3M | $138M | $201M | $209M |
| Shareholders' equity | $72.2M | −$74.8M | −$72.8M | −$254M | −$438M |
| Current ratio | 9.9x | 6.1x | 10.2x | 4.2x | 1.7x |
| Interest coverage | −19.9x | −6.3x | −4.0x | −3.9x | −2.3x |
| Returns and quality | |||||
| Return on equity | −108.0% | — | — | — | — |
| Return on tangible equity | −199.4% | — | — | — | — |
| Piotroski F-score | 1 | 1 | 5 | 3 | 4 |
| Altman Z'' | −7.5 | −16.4 | −4.5 | −11.5 | −21.0 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$0.0M
1 insider
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Phathom Pharmaceuticals, Inc. · PHAT
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $5.74 a share, the company is worth $481M.
Source: SEC EDGAR XBRL filings (CIK 0001783183). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.