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Stocks · Health care · Pharmaceutical Preparations

Phathom Pharmaceuticals, Inc.

PHAT Clue Score51
United States Fiscal year ends December CIK 0001783183
$7.25 +1.68% Close, 9 Oct 2026
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Price $7.25 −77.35% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 25 Oct 2019. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2018Operating income−1.2Net income−1.3Fiscal year 2019Operating income−106.2Net income−255.1Fiscal year 2020Operating income−125.7Net income−129.1Fiscal year 2021Operating income−135.1Net income−143.9EPS, diluted−3.89Fiscal year 2022Revenue0.0Operating income−172.4Net income−197.7EPS, diluted−5.05Fiscal year 2023Revenue0.7Operating income−167.3Net income−201.6EPS, diluted−3.93Fiscal year 2024Revenue55.3 +8,001.5%Operating income−277.5Net income−334.3EPS, diluted−5.29Fiscal year 2025Revenue175.1 +216.9%Operating income−160.0Net income−221.2EPS, diluted−3.03
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue n/a n/a n/a n/a 0.0 0.7 55.3 175.1
Growth +8,001.5% +216.9%
Operating income −1.2 −106.2 −125.7 −135.1 −172.4 −167.3 −277.5 −160.0
Net income −1.3 −255.1 −129.1 −143.9 −197.7 −201.6 −334.3 −221.2
Growth
EPS, diluted n/a n/a n/a −3.89 −5.05 −3.93 −5.29 −3.03
Growth

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2018Fiscal year 2019Fiscal year 2020Fiscal year 2021Fiscal year 2022Fiscal year 2023Gross margin75.5%Operating margin−24,532.6%Net margin−29,558.9%Free cash flow margin−20,412.6%Fiscal year 2024Gross margin85.6%Operating margin−502.2%Net margin−605.1%Free cash flow margin−483.1%Fiscal year 2025Gross margin87.1%Operating margin−91.4%Net margin−126.3%Free cash flow margin−95.4%
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin n/a n/a n/a n/a n/a 75.5% 85.6% 87.1%
Operating margin n/a n/a n/a n/a n/a −24,532.6% −502.2% −91.4%
Net margin n/a n/a n/a n/a n/a −29,558.9% −605.1% −126.3%
Free cash flow margin n/a n/a n/a n/a n/a −20,412.6% −483.1% −95.4%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2018Operating cash flow−1.0Fiscal year 2019Operating cash flow−36.5Capital expenditure−0.1Free cash flow−36.6Fiscal year 2020Operating cash flow−69.7Capital expenditure−1.0Free cash flow−70.7Fiscal year 2021Operating cash flow−148.5Capital expenditure−0.3Free cash flow−148.8Fiscal year 2022Operating cash flow−146.5Capital expenditure−1.0Free cash flow−147.6Fiscal year 2023Operating cash flow−137.6Capital expenditure−1.6Free cash flow−139.2Fiscal year 2024Operating cash flow−266.8Capital expenditure−0.1Free cash flow−266.9Fiscal year 2025Operating cash flow−166.8Capital expenditure−0.2Free cash flow−167.0
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −1.0 −36.5 −69.7 −148.5 −146.5 −137.6 −266.8 −166.8
Capital expenditure n/a −0.1 −1.0 −0.3 −1.0 −1.6 −0.1 −0.2
Free cash flow n/a −36.6 −70.7 −148.8 −147.6 −139.2 −266.9 −167.0
Growth

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2018Cash0.9Shareholders’ equity−1.3Fiscal year 2019Cash243.8Total debt22.8Net cash (debt)221.0Shareholders’ equity228.0Debt to equity0.10Fiscal year 2020Cash287.5Total debt47.0Net cash (debt)240.5Shareholders’ equity194.3Debt to equity0.24Fiscal year 2021Cash183.3Total debt89.7Net cash (debt)93.6Shareholders’ equity72.2Debt to equity1.24Fiscal year 2022Cash155.4Total debt95.3Net cash (debt)60.1Shareholders’ equity−74.8Fiscal year 2023Cash381.4Total debt137.8Net cash (debt)243.6Shareholders’ equity−72.8Fiscal year 2024Cash297.3Total debt201.4Net cash (debt)95.9Shareholders’ equity−253.6Fiscal year 2025Cash130.0Total debt209.1Net cash (debt)−79.1Shareholders’ equity−438.2
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.9 243.8 287.5 183.3 155.4 381.4 297.3 130.0
Total debt n/a 22.8 47.0 89.7 95.3 137.8 201.4 209.1
Net cash (debt) n/a 221.0 240.5 93.6 60.1 243.6 95.9 −79.1
Shareholders’ equity −1.3 228.0 194.3 72.2 −74.8 −72.8 −253.6 −438.2
Debt to equity n/a 0.10 0.24 1.24 n/a n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Balance sheet

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Assets
0.9 243.8 287.5 183.3 155.4 381.4 297.3 130.0
n/a n/a n/a n/a 0.0 1.2 3.2 5.5
n/a 0.5 1.0 0.7 1.2 2.1 1.5 1.1
0.9 257.2 295.1 189.4 164.8 413.8 378.3 259.1
Growth +28,412.0% +14.7% −35.8% −13.0% +151.1% −8.6% −31.5%
Liabilities
n/a n/a 7.4 n/a 0.0 0.0 0.0 0.0
n/a 22.8 39.6 89.7 95.3 137.8 201.4 209.1
calc n/a 22.8 47.0 89.7 95.3 137.8 201.4 209.1
2.2 29.2 100.8 117.3 239.6 486.6 631.9 697.3
Equity
−1.3 −256.4 −385.5 −529.4 −727.1 −928.7 −1,263.0 −1,484.3
−1.3 228.0 194.3 72.2 −74.8 −72.8 −253.6 −438.2
Growth −14.8% −62.9% −203.7%
Per share and net cash
calc n/a 221.0 240.5 93.6 60.1 243.6 95.9 −79.1
6.8 24.7 28.5 30.5 41.5 58.0 68.5 71.4
calc −0.19 9.22 6.81 2.36 −1.80 −1.26 −3.70 −6.14

Lines marked calc are worked out here from filed figures; point at one for how.