# Phathom Pharmaceuticals, Inc.: financial statements, quarterly

PHAT · Nasdaq · CIK 1783183 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/phat.md) · [Financials](/companies/phat/financials.md) · [Filings](/companies/phat/filings.md) · [Insiders](/companies/phat/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/phat/financials.md?period=annual).

## Income statement

| Line item | Unit | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [0.7 d](/filings/0000950170-25-034183.md) | [1.9](/filings/0000950170-25-061440.md) | [7.3](/filings/0000950170-25-104548.md) | [16.4](/filings/0001193125-25-257390.md) | [29.7 d](/filings/0001193125-26-073379.md) | [28.5](/filings/0001193125-26-193946.md) | [39.5](/filings/0001193125-26-324867.md) | [49.5](/filings/0001193125-26-436961.md) | [57.6 d](/filings/0001193125-26-073379.md) | [58.3](/filings/0001193125-26-193946.md) | [74.3](/filings/0001193125-26-324867.md) | [84.7](/filings/0001193125-26-436961.md) |
| Cost of revenue | $m | [0.2 d](/filings/0000950170-25-034183.md) | [0.4](/filings/0000950170-25-061440.md) | [1.4](/filings/0000950170-25-104548.md) | [2.4](/filings/0001193125-25-257390.md) | [3.8 d](/filings/0001193125-26-073379.md) | [3.7](/filings/0001193125-26-193946.md) | [5.0](/filings/0001193125-26-324867.md) | [6.2](/filings/0001193125-26-436961.md) | [7.6 d](/filings/0001193125-26-073379.md) | [12.0](/filings/0001193125-26-193946.md) | [15.1](/filings/0001193125-26-324867.md) | [18.4](/filings/0001193125-26-436961.md) |
| Gross profit | $m | [0.5 d](/filings/0000950170-25-034183.md) | [1.5](/filings/0000950170-25-061440.md) | [5.9](/filings/0000950170-25-104548.md) | [14.0](/filings/0001193125-25-257390.md) | [25.8 d](/filings/0001193125-26-073379.md) | [24.8](/filings/0001193125-26-193946.md) | [34.5](/filings/0001193125-26-324867.md) | [43.3](/filings/0001193125-26-436961.md) | [49.9 d](/filings/0001193125-26-073379.md) | [46.3](/filings/0001193125-26-193946.md) | [59.2](/filings/0001193125-26-324867.md) | [66.4](/filings/0001193125-26-436961.md) |
| Research and development | $m | [13.4 d](/filings/0000950170-25-034183.md) | [9.4](/filings/0000950170-25-061440.md) | [7.4](/filings/0000950170-25-104548.md) | [8.7](/filings/0001193125-25-257390.md) | [8.6 d](/filings/0001193125-26-073379.md) | [9.2](/filings/0001193125-26-193946.md) | [9.1](/filings/0001193125-26-324867.md) | [7.0](/filings/0001193125-26-436961.md) | [7.5 d](/filings/0001193125-26-073379.md) | [7.8](/filings/0001193125-26-193946.md) | [7.8](/filings/0001193125-26-324867.md) | [8.7](/filings/0001193125-26-436961.md) |
| Selling, general and administrative | $m | [57.0 d](/filings/0000950170-25-034183.md) | [62.0](/filings/0000950170-25-061440.md) | [75.9](/filings/0000950170-25-104548.md) | [76.1](/filings/0001193125-25-257390.md) | [76.7 d](/filings/0001193125-26-073379.md) | [94.5](/filings/0001193125-26-193946.md) | [85.3](/filings/0001193125-26-324867.md) | [51.6](/filings/0001193125-26-436961.md) | [48.4 d](/filings/0001193125-26-073379.md) | [54.0](/filings/0001193125-26-193946.md) | [55.3](/filings/0001193125-26-324867.md) | [57.7](/filings/0001193125-26-436961.md) |
| Operating income | $m | [(69.9) d](/filings/0000950170-25-034183.md) | [(70.0)](/filings/0000950170-25-061440.md) | [(77.3)](/filings/0000950170-25-104548.md) | [(70.8)](/filings/0001193125-25-257390.md) | [(59.4) d](/filings/0001193125-26-073379.md) | [(78.9)](/filings/0001193125-26-193946.md) | [(59.9)](/filings/0001193125-26-324867.md) | [(15.3)](/filings/0001193125-26-436961.md) | [(5.9) d](/filings/0001193125-26-073379.md) | [(15.5)](/filings/0001193125-26-193946.md) | [(4.0)](/filings/0001193125-26-324867.md) | [(0.1)](/filings/0001193125-26-436961.md) |
| Interest expense | $m | [13.0 d](/filings/0000950170-24-073629.md) | [17.2](/filings/0000950170-24-073628.md) | [17.8](/filings/0000950170-24-093885.md) | [18.5](/filings/0001193125-25-257390.md) | [18.6 d](/filings/0001193125-26-073379.md) | [18.1](/filings/0001193125-26-193946.md) | [17.5](/filings/0001193125-26-324867.md) | [16.1](/filings/0001193125-26-436961.md) | [16.4 d](/filings/0001193125-26-073379.md) | [15.8](/filings/0001193125-26-193946.md) | [15.1](/filings/0001193125-26-324867.md) | [15.4](/filings/0001193125-26-436961.md) |
| Net income | $m | [(79.6) d](/filings/0000950170-25-034183.md) | [(82.9)](/filings/0001193125-25-257390.md) | [(91.4)](/filings/0001193125-25-257390.md) | [(85.6)](/filings/0001193125-25-257390.md) | [(74.5) d](/filings/0001193125-26-073379.md) | [(94.3)](/filings/0001193125-26-436961.md) | [(75.8)](/filings/0001193125-26-436961.md) | [(30.0)](/filings/0001193125-26-436961.md) | [(21.1) d](/filings/0001193125-26-073379.md) | [(30.4)](/filings/0001193125-26-436961.md) | [(17.6)](/filings/0001193125-26-436961.md) | [(13.9)](/filings/0001193125-26-436961.md) |
| Diluted EPS | $ per share | not reported | [(1.42)](/filings/0000950170-25-061440.md) | [(1.56)](/filings/0000950170-25-104548.md) | [(1.32)](/filings/0001193125-25-257390.md) | not reported | [(1.31)](/filings/0001193125-26-193946.md) | [(1.05)](/filings/0001193125-26-324867.md) | [(0.41)](/filings/0001193125-26-436961.md) | not reported | [(0.37)](/filings/0001193125-26-193946.md) | [(0.21)](/filings/0001193125-26-324867.md) | [(0.16)](/filings/0001193125-26-436961.md) |
| Basic EPS | $ per share | not reported | [(1.42)](/filings/0000950170-25-061440.md) | [(1.56)](/filings/0000950170-25-104548.md) | [(1.32)](/filings/0001193125-25-257390.md) | not reported | [(1.31)](/filings/0001193125-26-193946.md) | [(1.05)](/filings/0001193125-26-324867.md) | [(0.41)](/filings/0001193125-26-436961.md) | not reported | [(0.37)](/filings/0001193125-26-193946.md) | [(0.21)](/filings/0001193125-26-324867.md) | [(0.16)](/filings/0001193125-26-436961.md) |

- Revenue: us-gaap:Revenues
- Cost of revenue: us-gaap:CostOfRevenue
- Gross profit: us-gaap:GrossProfit
- Research and development: us-gaap:ResearchAndDevelopmentExpense
- Selling, general and administrative: us-gaap:SellingGeneralAndAdministrativeExpense
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: us-gaap:InterestExpense, us-gaap:InterestExpenseNonoperating
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $m | [381](/filings/0000950170-25-034183.md) | [322](/filings/0000950170-24-073628.md) | [276](/filings/0000950170-24-093885.md) | [335](/filings/0000950170-24-123264.md) | [297](/filings/0001193125-26-073379.md) | [212](/filings/0000950170-25-061440.md) | [150](/filings/0000950170-25-104548.md) | [135](/filings/0001193125-25-257390.md) | [130](/filings/0001193125-26-436961.md) | [181](/filings/0001193125-26-193946.md) | [182](/filings/0001193125-26-324867.md) | [185](/filings/0001193125-26-436961.md) |
| Current assets | $m | [397](/filings/0000950170-25-034183.md) | [340](/filings/0000950170-24-073628.md) | [305](/filings/0000950170-24-093885.md) | [374](/filings/0000950170-24-123264.md) | [360](/filings/0001193125-26-073379.md) | [265](/filings/0000950170-25-061440.md) | [219](/filings/0000950170-25-104548.md) | [208](/filings/0001193125-25-257390.md) | [229](/filings/0001193125-26-436961.md) | [277](/filings/0001193125-26-193946.md) | [296](/filings/0001193125-26-324867.md) | [308](/filings/0001193125-26-436961.md) |
| Total assets | $m | [414](/filings/0000950170-25-034183.md) | [356](/filings/0000950170-24-073628.md) | [319](/filings/0000950170-24-093885.md) | [387](/filings/0000950170-24-123264.md) | [378](/filings/0001193125-26-073379.md) | [294](/filings/0000950170-25-061440.md) | [250](/filings/0000950170-25-104548.md) | [240](/filings/0001193125-25-257390.md) | [259](/filings/0001193125-26-436961.md) | [305](/filings/0001193125-26-193946.md) | [327](/filings/0001193125-26-324867.md) | [345](/filings/0001193125-26-436961.md) |
| Current liabilities | $m | [38.8](/filings/0000950170-25-034183.md) | [43.5](/filings/0000950170-24-073628.md) | [47.0](/filings/0000950170-24-093885.md) | [65.3](/filings/0000950170-24-123264.md) | [85.7](/filings/0001193125-26-073379.md) | [74.0](/filings/0000950170-25-061440.md) | [91.8](/filings/0000950170-25-104548.md) | [93.1](/filings/0001193125-25-257390.md) | [132](/filings/0001193125-26-436961.md) | [125](/filings/0001193125-26-193946.md) | [154](/filings/0001193125-26-324867.md) | [175](/filings/0001193125-26-436961.md) |
| Total liabilities | $m | [487](/filings/0000950170-25-034183.md) | [505](/filings/0000950170-24-073628.md) | [553](/filings/0000950170-24-093885.md) | [574](/filings/0000950170-24-123264.md) | [632](/filings/0001193125-26-073379.md) | [633](/filings/0000950170-25-061440.md) | [656](/filings/0000950170-25-104548.md) | [663](/filings/0001193125-25-257390.md) | [697](/filings/0001193125-26-436961.md) | [642](/filings/0001193125-26-193946.md) | [671](/filings/0001193125-26-324867.md) | [693](/filings/0001193125-26-436961.md) |
| Long-term debt | $m | [138](/filings/0000950170-25-034183.md) | [149](/filings/0000950170-24-073628.md) | [174](/filings/0000950170-24-093885.md) | [176](/filings/0000950170-24-123264.md) | [201](/filings/0001193125-26-073379.md) | [203](/filings/0000950170-25-061440.md) | [205](/filings/0000950170-25-104548.md) | [207](/filings/0001193125-25-257390.md) | [209](/filings/0001193125-26-436961.md) | [164](/filings/0001193125-26-193946.md) | [165](/filings/0001193125-26-324867.md) | [166](/filings/0001193125-26-436961.md) |
| Current portion of debt | $m | [0.0](/filings/0000950170-25-034183.md) | [0.0](/filings/0000950170-24-073628.md) | [0.0](/filings/0000950170-24-093885.md) | [0.0](/filings/0000950170-24-123264.md) | [0.0](/filings/0001193125-26-073379.md) | [0.0](/filings/0000950170-25-061440.md) | [0.0](/filings/0000950170-25-104548.md) | [0.0](/filings/0001193125-25-257390.md) | [0.0](/filings/0001193125-26-436961.md) | [0.0](/filings/0001193125-26-193946.md) | [0.0](/filings/0001193125-26-324867.md) | [0.0](/filings/0001193125-26-436961.md) |
| Shareholders' equity | $m | [(72.8)](/filings/0001193125-26-073379.md) | [(149)](/filings/0001193125-25-257390.md) | [(234)](/filings/0001193125-25-257390.md) | [(187)](/filings/0001193125-25-257390.md) | [(254)](/filings/0001193125-26-436961.md) | [(338)](/filings/0001193125-26-436961.md) | [(406)](/filings/0001193125-26-436961.md) | [(423)](/filings/0001193125-26-436961.md) | [(438)](/filings/0001193125-26-436961.md) | [(337)](/filings/0001193125-26-436961.md) | [(344)](/filings/0001193125-26-436961.md) | [(348)](/filings/0001193125-26-436961.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Total liabilities: us-gaap:Liabilities
- Long-term debt: us-gaap:LongTermDebtNoncurrent
- Current portion of debt: us-gaap:LongTermDebtCurrent
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [(43.8) d](/filings/0000950170-25-034183.md) | [(69.0)](/filings/0000950170-25-061440.md) | [(70.7) d](/filings/0000950170-25-104548.md) | [(63.6) d](/filings/0001193125-25-257390.md) | [(63.5) d](/filings/0001193125-26-073379.md) | [(84.9)](/filings/0001193125-26-193946.md) | [(62.7) d](/filings/0001193125-26-324867.md) | [(14.1) d](/filings/0001193125-26-436961.md) | [(5.0) d](/filings/0001193125-26-073379.md) | [(15.6)](/filings/0001193125-26-193946.md) | [(1.9) d](/filings/0001193125-26-324867.md) | [1.8 d](/filings/0001193125-26-436961.md) |
| Capital expenditure | $m | [0.5 d](/filings/0000950170-25-034183.md) | [0.0](/filings/0000950170-25-061440.md) | [0.0 d](/filings/0000950170-25-104548.md) | [0.0 d](/filings/0001193125-25-257390.md) | [0.0 d](/filings/0001193125-26-073379.md) | [0.0](/filings/0001193125-26-193946.md) | [0.1 d](/filings/0001193125-26-324867.md) | [0.0 d](/filings/0001193125-26-436961.md) | [0.1 d](/filings/0001193125-26-073379.md) | [0.1](/filings/0001193125-26-193946.md) | [0.0 d](/filings/0001193125-26-324867.md) | [0.1 d](/filings/0001193125-26-436961.md) |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment

## Shares

| Line item | Unit | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [42.4](/filings/0000950170-24-073628.md) | [48.5](/filings/0000950170-24-093885.md) | [56.8](/filings/0000950170-24-123264.md) | [58.4](/filings/0000950170-25-061440.md) | [58.6](/filings/0000950170-25-104548.md) | [64.6](/filings/0001193125-25-257390.md) | [72.0](/filings/0001193125-26-193946.md) | [72.5](/filings/0001193125-26-324867.md) | [73.4](/filings/0001193125-26-436961.md) | [82.1](/filings/0001193125-26-193946.md) | [83.7](/filings/0001193125-26-324867.md) | [84.9](/filings/0001193125-26-436961.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 81,291,520 at 2026-10-27, from the cover of the [10-Q filed 2026-10-29](/filings/0001193125-26-436961.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 29, 2026, 07:19 ET. No prices; not investment advice.