FY2025 · ended Dec 31, 2025 · Revenue $175.11M, +216.9% YoY · Filed Feb 26, 2026
Phathom Pharmaceuticals, Inc. (PHAT) files with the SEC under industry code 2834, Pharmaceutical Preparations. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $175.1 million and a net loss of $221.2 million. Free cash flow was -$167.0 million. As of Sep 30, 2026 it held $184.6 million in cash and investments and $168.0 million in total debt.
Revenue (TTM)
$274.88M
+86.8% vs year-ago TTM
Net income (TTM)
$-83.00M
+69.8% vs year-ago TTM
Operating cash flow (TTM)
$-20.74M
+90.8% vs year-ago TTM
Free cash flow (TTM)
$-21.04M
+90.7% vs year-ago TTM
EPS (TTM)
$-1.02
+73.1% vs year-ago TTM
Dividend per share
None
Shares outstanding
78.80M
+13.2% vs prior year
Net cash
$16.60M
as of Sep 30, 2026
Operating margin
-9.3%
FY 2026
Company profile
- Industry
- Pharmaceutical Preparations (SIC 2834)
- Listed as
- PHAT (Nasdaq)
- Fiscal year ends
- December 31
- Incorporated in
- DE
- Headquarters
- Florham Park, NJ
- SEC filer status
- Non-accelerated filer, Smaller reporting company
- SEC CIK
- 1783183
Other Pharmaceutical Preparations companies
- ELI LILLY & Co LLY
- Johnson & Johnson JNJ
- AbbVie Inc. ABBV
- Merck & Co., Inc. MRK
- Novartis AG NVS
- Astrazeneca PLC AZN
- Abbott Laboratories ABT
- Novo Nordisk A S NVO
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $175.1M | $55.3M | $682,000 | — | — |
| Operating income | -$160.0M | -$277.5M | -$167.3M | -$172.4M | -$135.1M |
| Net income | -$221.2M | -$334.3M | -$201.6M | -$197.7M | -$143.9M |
| Diluted EPS | -$3.03 | -$5.29 | -$3.93 | -$5.05 | — |
| Operating cash flow | -$166.8M | -$266.8M | -$137.6M | -$146.5M | -$148.5M |
| Free cash flow | -$167.0M | -$266.9M | -$139.2M | -$147.6M | -$148.8M |
| Total assets | $259.1M | $378.3M | $413.8M | $164.8M | $189.4M |
| Total liabilities | $697.3M | $631.9M | $486.6M | $239.6M | $117.3M |
| Stockholders' equity | -$438.2M | -$253.6M | -$72.8M | -$74.8M | $72.2M |
| Cash and investments | $130.0M | $297.3M | $381.4M | $155.4M | $183.3M |
| Total debt | $211.8M | $201.9M | $139.0M | $97.1M | $91.3M |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 10-Q | Quarterly report | Oct 29, 2026 | Sep 30, 2026 |
| 8-K |
Current report
Results of operations
|
Oct 29, 2026 | Oct 29, 2026 |
| 8-K |
Current report
Other events
|
Oct 26, 2026 | Oct 26, 2026 |
| 8-K |
Current report
Other events
|
Oct 23, 2026 | Oct 23, 2026 |
| 8-K |
Current report
Other events
|
Sep 29, 2026 | Sep 29, 2026 |
| 10-Q | Quarterly report | Jul 30, 2026 | Jun 30, 2026 |
All 495 Phathom Pharmaceuticals, Inc. SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.