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Other financials

Income statement

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Revenue$74.3M+88.0%
Gross profit$59.2M+71.7%
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:OperatingIncomeLoss.

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
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)
Other (expense) income:
Interest income1,5101,7873,2464,427
Interest expense(15,103)(17,518)(30,900)(35,588)
Other expense, net(24)(155)(855)(179)

Item 1. Financial Statements (unaudited)

FAQ

What is Phathom Pharmaceuticals, Inc.'s operating income?
Phathom Pharmaceuticals, Inc. (PHAT) reported operating income of -$3.97M in Q2 2026.
How has Phathom Pharmaceuticals, Inc.'s operating income changed year-over-year?
Phathom Pharmaceuticals, Inc.'s operating income increased by 93.4% year-over-year, from -$59.92M to -$3.97M.
What is the long-term trend for Phathom Pharmaceuticals, Inc.'s operating income?
Over 4 years (2021 to 2025), Phathom Pharmaceuticals, Inc.'s operating income has grown at a 4.3% compound annual growth rate (CAGR), from -$135.08M to -$159.99M.
What does operating income mean?
Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.

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