PHATHOM PHARMACEUTICALS, INC. financials
Source: EDGAR filings · Built 2026-06-02T03:49:15Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -167.00M | -266.90M | -139.21M | -147.57M | -148.78M | -70.73M |
| EBITDA | -159.35M | -276.67M | -166.74M | -171.82M | -134.56M | -125.34M |
| Working Capital | 96.93M | 274.41M | 358.65M | 134.28M | 167.60M | 235.84M |
| Net Debt | 81.83M | -95.35M | -242.36M | -58.31M | -91.92M | -238.48M |
| Gross Margin | 87.09% | 85.57% | 75.51% | — | — | — |
| Operating Margin | -91.36% | -502.18% | -24532.55% | — | — | — |
| Net Margin | -126.35% | -605.09% | -29558.94% | — | — | — |
| Return on Equity (ROE) | 50.49% | 131.84% | 277.07% | 264.29% | -199.41% | -66.44% |
| Return on Assets (ROA) | -85.37% | -88.37% | -48.71% | -119.97% | -75.96% | -43.74% |
| Current Ratio | 1.73× | 4.20× | 10.25× | 6.12× | 9.86× | 5.25× |
| Debt-to-Equity | -0.48× | -0.80× | -1.91× | -1.30× | 1.27× | 0.25× |
| Effective Tax Rate | 0.00% | 0.00% | — | — | — | — |
| Cash Conversion Ratio | 0.75× | 0.80× | 0.68× | 0.74× | 1.03× | 0.54× |
| Accruals Ratio | -0.21× | -0.18× | -0.15× | -0.31× | 0.02× | -0.20× |
| SBC % of Revenue | 16.40% | 43.52% | 6601.91% | — | — | — |
| CapEx Coverage | -728.28× | -1976.07× | -84.20× | -140.76× | -452.61× | -67.01× |
| Free Cash Flow Per Share | $-2.29 | $-4.22 | $-2.71 | $-3.77 | $-4.02 | $-2.13 |
Valuation Metrics
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenues | 175.11M | 55.25M | 682.00K | 0 | — | — |
| Cost of Revenue | 22.60M | 7.97M | 167.00K | 0 | — | — |
| Gross Profit | 152.51M | 47.28M | 515.00K | 0 | — | — |
| Research and Development Expense | 32.78M | 34.08M | 49.90M | 71.44M | 72.34M | 98.15M |
| Selling, General and Administrative Expense | 279.72M | 290.66M | 117.93M | 101.00M | — | — |
| Operating Expenses | 312.50M | 324.75M | 167.83M | 172.44M | 135.08M | 125.67M |
| Operating Income (Loss) | -159.99M | -277.47M | -167.31M | -172.44M | -135.08M | -125.67M |
| Income Tax Expense (Benefit) | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Income (Loss) Attributable to Parent | -221.25M | -334.33M | -201.59M | -197.72M | -143.88M | -129.07M |
| Earnings Per Share, Basic | $-3.03 | $-5.29 | $-3.93 | $-5.05 | $-3.89 | — |
| Weighted Average Number of Shares Outstanding, Basic | 72.92M | 63.18M | 51.29M | 39.12M | 37.00M | — |
| Earnings Per Share, Diluted | $-3.03 | $-5.29 | $-3.93 | $-5.05 | $-3.89 | — |
| Weighted Average Number of Shares Outstanding, Diluted | 72.92M | 63.18M | 51.29M | 39.12M | 37.00M | — |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 129.97M | 297.26M | 381.39M | 155.38M | 183.26M | 287.50M |
| Assets, Current | 228.97M | 360.13M | 397.43M | 160.51M | 186.53M | 291.37M |
| Assets | 259.15M | 378.32M | 413.84M | 164.81M | 189.43M | 295.11M |
| Long-term Debt | 209.09M | 201.41M | 137.84M | 95.26M | 89.67M | 46.99M |
| Liabilities, Current | 132.04M | 85.73M | 38.78M | 26.24M | 18.92M | 55.52M |
| Long-term Debt, Excluding Current Maturities | 209.09M | 201.41M | 137.84M | 95.26M | 89.67M | 39.63M |
| Liabilities | 697.32M | 631.90M | 486.60M | 239.62M | 117.28M | 100.84M |
| Stockholders' Equity Attributable to Parent | -438.17M | -253.58M | -72.76M | -74.81M | 72.16M | 194.27M |
| Common Stock, Shares, Outstanding | 71.42M | 68.52M | 57.97M | 41.47M | 30.51M | 28.52M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -166.78M | -266.77M | -137.58M | -146.53M | -148.46M | -69.69M |
| Payments to Acquire Property, Plant, and Equipment | 229.00K | 135.00K | 1.63M | 1.04M | 328.00K | 1.04M |
| Net Cash Provided by (Used in) Investing Activities | -229.00K | -135.00K | -1.63M | -1.04M | -328.00K | -1.04M |
| Net Cash Provided by (Used in) Financing Activities | -288.00K | 182.77M | 367.58M | 120.04M | 44.71M | 114.46M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -15.71M | -5.09M | -161.92M | -147.77M | -84.95M | -63.46M |
| EBITDA | -15.37M | -5.80M | — | — | -78.69M | -59.22M |
| Working Capital | 151.53M | 96.93M | 114.66M | 127.05M | 190.87M | 274.41M |
| Net Debt | -14.60M | 81.83M | 74.65M | 56.40M | -8.75M | -95.35M |
| Gross Margin | 79.42% | 86.72% | 87.50% | 87.25% | 86.94% | 87.14% |
| Operating Margin | -26.55% | -10.29% | -30.85% | -151.69% | -276.53% | -200.30% |
| Net Margin | -52.09% | -36.73% | -60.55% | -191.91% | -330.71% | -250.98% |
| Return on Equity (ROE) | 9.01% | 4.83% | 7.09% | 18.68% | 27.87% | 29.36% |
| Return on Assets (ROA) | -9.95% | -8.16% | -12.47% | -30.30% | -32.06% | -19.68% |
| Current Ratio | 2.21× | 1.73× | 2.23× | 2.38× | 3.58× | 4.20× |
| Debt-to-Equity | -0.49× | -0.48× | -0.50× | -0.51× | -0.60× | -0.80× |
| Cash Conversion Ratio | 0.52× | 0.24× | 5.40× | 1.95× | 0.90× | 0.85× |
| Accruals Ratio | -0.05× | -0.06× | 0.55× | 0.29× | -0.03× | -0.03× |
| SBC % of Revenue | 9.49% | 9.74% | 46.68% | 34.96% | 19.43% | 22.54% |
| CapEx Coverage | -256.51× | -57.48× | -1139.25× | -1283.99× | -4718.33× | -12691.20× |
| Free Cash Flow Per Share | $-0.19 | $-0.07 | $-2.21 | $-2.04 | $-1.18 | $-1.00 |
Valuation Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| P/S | 4.31× | 6.77× | 5.68× | 5.90× | 5.33× | 10.07× |
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenues | 58.30M | 57.58M | 49.50M | 39.50M | 28.52M | 29.66M |
| Cost of Revenue | 12.00M | 7.65M | 6.19M | 5.04M | 3.72M | 3.81M |
| Gross Profit | 46.30M | 49.94M | 43.31M | 34.47M | 24.80M | 25.85M |
| Research and Development Expense | 7.77M | 7.49M | 7.03M | 9.08M | 9.18M | 8.58M |
| Selling, General and Administrative Expense | 54.01M | 48.37M | 51.56M | 85.31M | 94.47M | 76.68M |
| Operating Expenses | 61.78M | 55.86M | 58.59M | 94.39M | 103.66M | 85.27M |
| Operating Income (Loss) | -15.48M | -5.93M | -15.27M | -59.92M | -78.86M | -59.42M |
| Net Income (Loss) Attributable to Parent | -30.37M | -21.15M | -29.97M | -75.81M | -94.32M | -74.45M |
| Earnings Per Share, Basic | $-0.37 | $-0.27 | $-0.41 | $-1.05 | $-1.31 | $-1.00 |
| Weighted Average Number of Shares Outstanding, Basic | 82.05M | 72.92M | 73.40M | 72.47M | 71.97M | 63.18M |
| Earnings Per Share, Diluted | $-0.37 | $-0.27 | $-0.41 | $-1.05 | $-1.31 | $-1.00 |
| Weighted Average Number of Shares Outstanding, Diluted | 82.05M | 72.92M | 73.40M | 72.47M | 71.97M | 63.18M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 180.90M | 129.97M | 135.16M | 149.57M | 212.31M | 297.26M |
| Assets, Current | 276.57M | 228.97M | 207.78M | 218.88M | 264.90M | 360.13M |
| Assets | 305.12M | 259.15M | 240.29M | 250.22M | 294.21M | 378.32M |
| Long-term Debt | 163.68M | 209.09M | 207.09M | 205.14M | 203.25M | 201.41M |
| Liabilities, Current | 125.04M | 132.04M | 93.12M | 91.82M | 74.03M | 85.73M |
| Long-term Debt, Excluding Current Maturities | 163.68M | 209.09M | 207.09M | 205.14M | 203.25M | 201.41M |
| Liabilities | 642.08M | 697.32M | 662.82M | 656.05M | 632.58M | 631.90M |
| Stockholders' Equity Attributable to Parent | -336.95M | -438.17M | -422.53M | -405.83M | -338.38M | -253.58M |
| Common Stock, Shares, Outstanding | 79.44M | 71.42M | 71.04M | 70.10M | 69.64M | 68.52M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -15.65M | -5.00M | -161.77M | -147.66M | -84.93M | -63.46M |
| Payments to Acquire Property, Plant, and Equipment | 61.00K | 87.00K | 142.00K | 115.00K | 18.00K | 5.00K |
| Net Cash Provided by (Used in) Investing Activities | -61.00K | -87.00K | -142.00K | -115.00K | -18.00K | -5.00K |
| Net Cash Provided by (Used in) Financing Activities | 66.64M | -97.00K | -191.00K | 80.00K | 0 | 26.05M |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (PHAT CIK 0001783183),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.