SequelSEC

Phathom Pharmaceuticals, Inc. PHAT

Pharmaceutical Preparations · CIK 0001783183 · Fiscal year ends 1231

Revenue
$274.88M
Fiscal year ended 2026-09-30
Operating income
-$25.46M
Fiscal year ended 2026-09-30
Free cash flow
-$21.04M
Fiscal year ended 2026-09-30

Valuation, from the filing

Public float$555.50MMarket value of stock held by non-affiliates, as stated on the cover page for 2025-06-30
Float per share$7.05Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself.
Float / revenue3.2×A lower bound on the multiple, because affiliate holdings are excluded.

Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.

How this compares in its industry

Percentile among the Pharmaceutical Preparations filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.

MeasureReportedPercentile
Revenue YoY growth216.9%90th
CapEx / revenue0.1%12th
R&D / revenue18.7%20th
Gross margin87.1%77th
Current ratio1.73x25th
Operating margin-91.4%61th
SBC / revenue16.4%44th
Net margin-126.3%52th
FCF margin-95.4%48th

Phathom Pharmaceuticals, Inc. (PHAT) reported revenue of $274.88M and net income of -$83.00M for the fiscal year ended 2026-09-30. This page shows 1 annual period of income statement, balance sheet and cash flow figures normalized from Phathom Pharmaceuticals, Inc.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Pharmaceutical Preparations.

Income

Phathom Pharmaceuticals, Inc. income by fiscal year, in US dollars, normalized from SEC filings.
Metric2026-09-30
Revenue$274.88M
Cost of revenue$53.11M
Gross profit$221.77M
Operating income-$25.46M
Net income-$83.00M
Research & development$31.82M
Weighted-average diluted sharesUnavailable
Pretax incomeUnavailable
Income tax expenseUnavailable
Diluted EPSUnavailable
Selling, general & administrative$215.41M
General & administrativeUnavailable
Selling & marketingUnavailable

Balance

Phathom Pharmaceuticals, Inc. balance by fiscal year, in US dollars, normalized from SEC filings.
Metric2026-09-30
Cash & equivalents$184.56M
Total assets$345.02M
Current assets$308.01M
Total liabilities$692.66M
Current liabilities$174.90M
Total equity incl. NCI-$347.64M
Temporary (mezzanine) equityUnavailable
Inventory$7.63M
Accounts receivable$107.60M
GoodwillUnavailable
Long-term debt$165.54M
Accounts payable$11.11M

Cash flow

Phathom Pharmaceuticals, Inc. cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric2026-09-30
Operating cash flow-$20.74M
Capital expenditures$302.00K
Investing cash flow-$302.00K
Financing cash flow$70.44M
Net change in cash$49.40M
Stock-based compensation$23.78M
Common dividends paidUnavailable
Common share repurchasesUnavailable
Depreciation & amortization$472.00K

Derived

Phathom Pharmaceuticals, Inc. derived by fiscal year, in US dollars, normalized from SEC filings.
Metric2026-09-30
Free cash flow-$21.04M
Gross margin80.7%
Operating margin-9.3%
FCF margin-7.7%
SBC / revenue8.6%
Current ratio1.76x
Revenue YoY growth86.8%
Net margin-30.2%
R&D / revenue11.6%
CapEx / revenue0.1%
Long-term debt / equityUnavailable
Effective tax rateUnavailable

Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open PHAT in the interactive workspace to inspect any figure back to its filing.

Source filings

10-Q · Filed 2026-10-29View SEC filing
10-Q · Filed 2026-07-30View SEC filing
10-Q · Filed 2026-04-30View SEC filing
10-K · Filed 2026-02-26View SEC filing
10-Q · Filed 2025-10-30View SEC filing
10-Q · Filed 2025-08-07View SEC filing

Companies in the same industry

Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.