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Phathom Pharmaceuticals, Inc. PHAT Products & Services — Revenue

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Other financials

Income statement

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

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

To date, our only source of revenue has been from the U.S. sales of VOQUEZNA products, which the Company began selling during the fourth quarter of 2023. The Company records its best estimate of chargebacks, sales returns, sales discounts and other reserves to which customers are likely expected to be entitled to as contra accounts receivable charges, and within accrued expenses if payable to a third-party or related to product returns on the condensed balance sheets. During the six months ended June 30, 2026 and 2025, the Company recognized $132.6 million and $68.0 million, respectively, of net product revenues related to sales of VOQUEZNA, VOQUEZNA DUAL PAK and VOQUEZNA TRIPLE PAK.

Item 1. Financial Statements (unaudited)

FAQ

What is Phathom Pharmaceuticals, Inc.'s products & services — revenue?
Phathom Pharmaceuticals, Inc. (PHAT) reported products & services — revenue of $74.3M in Q2 2026.
How has Phathom Pharmaceuticals, Inc.'s products & services — revenue changed year-over-year?
Phathom Pharmaceuticals, Inc.'s products & services — revenue increased by 88.1% year-over-year, from $39.5M to $74.3M.
What is the long-term trend for Phathom Pharmaceuticals, Inc.'s products & services — revenue?
Over 2 years (2023 to 2025), Phathom Pharmaceuticals, Inc.'s products & services — revenue has grown at a 1481.6% compound annual growth rate (CAGR), from $700K to $175.1M.
What does products & services — revenue mean?
This metric tracks the total gross income generated from the sales of a specific product or service segment within a given fiscal period. It serves as a primary indicator of market adoption, commercial success, and the growth trajectory of the specific offering. Monitoring this figure allows investors to assess the revenue-generating capacity of the company's key commercial assets.

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