Skip to content
OpenCapital
Get started

Phathom Pharmaceuticals, Inc. PHAT Q4 2025 Annual earnings

Reported February 26, 2026 · Before market open

Revenue$57.6MBeat by $412.4K
EPS-$0.16Beat by $0.16
Revenue estimate$57.2M
EPS estimate-$0.32

Next report

Jul 30, 2026 (Tomorrow)
Revenue estimate$72.7M
EPS estimate-$0.06

Financials

Q4 2025

Income statement

See full
Revenue$57.6M+94.1%
Gross profit$49.9M+93.2%
Operating income-$5.9M+90.0%
Net income-$21.1M+71.6%
EPS (diluted)-$0.27+73.0%

Balance sheet

See full
Cash & equivalents$130.0M-56.3%
Total debt$211.8M+4.9%
Total equity-$438.2M-72.8%
Total assets$259.1M-31.5%

Cash flow

See full
Operating cash flow-$5.0M+92.1%
CapEx$87.0K+1,640%
Free cash flow-$5.1M+92.0%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$1.18B+113%
Enterprise value$1.26B+174%
P/S6.7×-3.3×

Profitability

See full
Gross margin87.1%+1.5pp
Operating margin-91.4%-41.1pp
Net margin-126.3%-55.8pp
FCF margin-95.4%-42.5pp

Returns & leverage

See full
Current ratio1.7×-2.5×

Segments

By segment

See full
Reportable Segment Aggregation Before Other Operating$57.6M+94.1%

By product

See full
Voquezna Product$57.6M+93.9%

Versus estimates

Revenue

Q1 2026$58.3MBeat by $2.4M
Q4 2025$57.6MBeat by $412.4K
Q3 2025$49.5MMiss by $7.9MQ2 2025$39.5MMiss by $7.3MQ1 2025$28.5MMiss by $7.1MQ4 2024$29.7MBeat by $625.5K

Diluted EPS

Q1 2026-$0.37Miss by $0.10
Q4 2025-$0.16Beat by $0.16
Q3 2025-$0.15Beat by $0.15Q2 2025-$0.79Miss by $0.03Q1 2025-$1.07Miss by $0.01Q4 2024-$0.79Beat by $0.50

Ask the moment Phathom Pharmaceuticals, Inc. reports.

Connect your AI and ask the moment the filing drops. It reads the release, surfaces what management said, and gives you its own read.

Connect your AI
Harbor at dusk
Claude

Questions, answered.

When did Phathom Pharmaceuticals, Inc. report Q4 2025 earnings?
Phathom Pharmaceuticals, Inc. (PHAT) reported Q4 2025 earnings on February 26, 2026 before market open.
What were Phathom Pharmaceuticals, Inc.'s Q4 2025 revenue and EPS?
Phathom Pharmaceuticals, Inc. reported revenue of $57.6M and eps of $-0.16 for Q4 2025.
Did Phathom Pharmaceuticals, Inc. beat estimates in Q4 2025?
Revenue beat the consensus estimate of $57.2M by $412.4K. EPS beat the consensus estimate of $-0.32 by $0.16.
How did Phathom Pharmaceuticals, Inc.'s Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 94.1% from $29.7M a year earlier and eps grew 79.7% from $-0.79.
Where can I find Phathom Pharmaceuticals, Inc.'s Q4 2025 SEC filings?
You can read the 8-K earnings release (0001193125-26-073377) and the 10-K periodic report (0001193125-26-073379) directly on SEC EDGAR. The filing index links above go to sec.gov.