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Other financials

Income statement

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Revenue$74.3M+88.0%
Operating income-$4.0M+93.4%
Net income-$17.6M+76.8%
EPS (diluted)-$0.21+80.0%

Balance sheet

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Cash & equivalents$182.5M+22.0%
Total debt$167.1M-18.9%
Total equity-$344.3M+15.2%
Total assets$327.1M+30.7%

Cash flow

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Operating cash flow-$1.9M+96.9%
CapEx$44.0K-54.6%
Free cash flow-$2.0M+96.9%

Valuation

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Market cap$691.7M-5.2%
Enterprise value$676.34M-13.9%
P/S2.9×-3.5×

Profitability

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Gross margin82.9%-4.0pp
Operating margin-17%-8.2pp
Net margin-41.3%-19.1pp
FCF margin-15.4%-7.4pp

Returns & leverage

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Return on equity-147.9%
Debt / equity5.6×
Current ratio1.9×-0.5×

Where this comes from

Reported directly by Phathom Pharmaceuticals, Inc. in its filing.

Tagged under the XBRL concept us-gaap:GrossProfit.

The source filing: Phathom Pharmaceuticals, Inc.’s 10-Q, filed July 30, 2026.

Filed
Jul 30, 2026, 7:05 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001193125-26-324867
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Product revenue, net$74,274$39,503$132,575$68,023
Cost of revenue15,0965,03827,0918,762
Gross profit59,17834,465105,48459,261
Operating expenses:
Research and development7,8139,07615,58518,260
Selling, general and administrative55,33085,313109,341179,787
Total operating expenses63,14394,389124,926198,047
Loss from operations(3,965)(59,924)(19,442)(138,786)

Item 1. Financial Statements (unaudited)

FAQ

What is Phathom Pharmaceuticals, Inc.'s gross profit?
Phathom Pharmaceuticals, Inc. (PHAT) reported gross profit of $59.18M in Q2 2026.
How has Phathom Pharmaceuticals, Inc.'s gross profit changed year-over-year?
Phathom Pharmaceuticals, Inc.'s gross profit increased by 71.7% year-over-year, from $34.47M to $59.18M.
What does gross profit mean?
Revenue minus cost of revenue — the profit available to cover operating expenses, representing the company's pricing power and production efficiency.

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