Phathom Pharmaceuticals, Inc. — Financial Data
Annual figures from SEC EDGAR XBRL filings (10-K)
These figures are extracted directly from XBRL-tagged financial statements that Phathom Pharmaceuticals, Inc. filed with the SEC as part of its annual 10-K reports. XBRL (eXtensible Business Reporting Language) is a structured data format the SEC requires for machine-readable financial disclosures. Values shown are as reported — negative figures indicate a loss and are shown in red.
Revenue
Total revenue from all business activities — the top line of the income statement. Represents all money earned before any expenses are deducted.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $175.11M | Feb 26, 2026 |
| FY2025 | Dec 31, 2024 | $55.25M | Feb 26, 2026 |
| FY2024 | Dec 31, 2023 | $682.0K | Mar 6, 2025 |
| FY2023 | Dec 31, 2022 | $0 | Jun 14, 2024 |
Gross Profit
Revenue minus the cost of goods sold (COGS). Gross profit shows how much revenue remains to cover operating expenses, R&D, and administrative costs before calculating operating income.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $152.51M | Feb 26, 2026 |
| FY2025 | Dec 31, 2024 | $47.28M | Feb 26, 2026 |
| FY2024 | Dec 31, 2023 | $515.0K | Mar 6, 2025 |
| FY2023 | Dec 31, 2022 | $0 | Jun 14, 2024 |
Net Income
The bottom-line profit — what remains after all operating expenses, interest, taxes, and other costs are deducted. A negative value means the company reported a net loss for the year.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($221.25M) | Feb 26, 2026 |
| FY2025 | Dec 31, 2024 | ($334.33M) | Feb 26, 2026 |
| FY2024 | Dec 31, 2023 | ($201.59M) | Mar 6, 2025 |
| FY2023 | Dec 31, 2022 | ($197.72M) | Jun 14, 2024 |
| FY2022 | Dec 31, 2021 | ($143.88M) | Feb 28, 2023 |
| FY2020 | Dec 31, 2020 | ($53.72M) | Mar 30, 2021 |
| FY2020 | Sep 30, 2020 | ($34.11M) | Mar 30, 2021 |
| FY2020 | Jun 30, 2020 | ($21.10M) | Mar 30, 2021 |
| FY2020 | Mar 31, 2020 | ($20.14M) | Mar 30, 2021 |
| FY2020 | Dec 31, 2019 | ($98.01M) | Mar 30, 2021 |
Operating Income
Profit from core business operations before interest expense and income taxes (also known as EBIT). Excludes non-operating items, making it a cleaner measure of operational efficiency than net income.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($159.99M) | Feb 26, 2026 |
| FY2025 | Dec 31, 2024 | ($277.47M) | Feb 26, 2026 |
| FY2024 | Dec 31, 2023 | ($167.31M) | Mar 6, 2025 |
| FY2023 | Dec 31, 2022 | ($172.44M) | Jun 14, 2024 |
| FY2022 | Dec 31, 2021 | ($135.08M) | Feb 28, 2023 |
| FY2020 | Dec 31, 2020 | ($52.44M) | Mar 30, 2021 |
| FY2020 | Sep 30, 2020 | ($32.83M) | Mar 30, 2021 |
| FY2020 | Jun 30, 2020 | ($20.02M) | Mar 30, 2021 |
| FY2020 | Mar 31, 2020 | ($20.38M) | Mar 30, 2021 |
| FY2020 | Dec 31, 2019 | ($15.69M) | Mar 30, 2021 |
R&D Expense
Spending on research and development activities — developing new products, improving existing ones, or conducting basic research. High R&D relative to revenue is common in technology and pharmaceutical companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $32.78M | Feb 26, 2026 |
| FY2025 | Dec 31, 2024 | $34.08M | Feb 26, 2026 |
| FY2024 | Dec 31, 2023 | $49.90M | Mar 6, 2025 |
| FY2023 | Dec 31, 2022 | $71.44M | Jun 14, 2024 |
| FY2022 | Dec 31, 2021 | $72.34M | Feb 28, 2023 |
| FY2020 | Dec 31, 2020 | $41.65M | Mar 30, 2021 |
| FY2020 | Sep 30, 2020 | $25.77M | Mar 30, 2021 |
| FY2020 | Jun 30, 2020 | $14.86M | Mar 30, 2021 |
| FY2020 | Mar 31, 2020 | $15.87M | Mar 30, 2021 |
| FY2020 | Dec 31, 2019 | $12.70M | Mar 30, 2021 |
SG&A Expense
Selling, general, and administrative expenses — the overhead costs of running the business, including salaries, marketing, legal fees, and corporate office costs. Excludes COGS and R&D.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $279.72M | Feb 26, 2026 |
| FY2025 | Dec 31, 2024 | $290.66M | Feb 26, 2026 |
| FY2024 | Dec 31, 2023 | $117.93M | Mar 6, 2025 |
| FY2023 | Dec 31, 2022 | $101.00M | Jun 14, 2024 |
Operating Cash Flow
Cash generated from core business operations — a more reliable measure of financial health than net income because it strips out non-cash items like depreciation and one-time charges.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($166.78M) | Feb 26, 2026 |
| FY2025 | Dec 31, 2024 | ($266.77M) | Feb 26, 2026 |
| FY2024 | Dec 31, 2023 | ($137.58M) | Mar 6, 2025 |
| FY2023 | Dec 31, 2022 | ($146.53M) | Jun 14, 2024 |
| FY2022 | Dec 31, 2021 | ($148.46M) | Feb 28, 2023 |
| FY2021 | Dec 31, 2020 | ($69.69M) | Mar 1, 2022 |
| FY2020 | Dec 31, 2019 | ($36.51M) | Mar 30, 2021 |
| FY2019 | Dec 31, 2018 | ($1.02M) | Mar 19, 2020 |
Capital Expenditures (Capex)
Cash spent on acquiring or upgrading physical assets — property, equipment, and infrastructure. High capex businesses include manufacturing, telecom, and energy companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $229.0K | Feb 26, 2026 |
| FY2025 | Dec 31, 2024 | $135.0K | Feb 26, 2026 |
| FY2024 | Dec 31, 2023 | $1.63M | Mar 6, 2025 |
| FY2023 | Dec 31, 2022 | $1.04M | Jun 14, 2024 |
| FY2022 | Dec 31, 2021 | $328.0K | Feb 28, 2023 |
| FY2021 | Dec 31, 2020 | $1.04M | Mar 1, 2022 |
| FY2020 | Dec 31, 2019 | $132.0K | Mar 30, 2021 |
Total Assets
The total value of everything the company owns or controls — cash, investments, receivables, property, equipment, and intangibles. Reported as of fiscal year end.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $259.15M | Feb 26, 2026 |
| FY2025 | Dec 31, 2024 | $378.32M | Feb 26, 2026 |
| FY2024 | Dec 31, 2023 | $413.84M | Mar 6, 2025 |
| FY2023 | Dec 31, 2022 | $164.81M | Jun 14, 2024 |
| FY2022 | Dec 31, 2021 | $189.43M | Feb 28, 2023 |
| FY2021 | Dec 31, 2020 | $295.11M | Mar 1, 2022 |
| FY2020 | Dec 31, 2019 | $257.18M | Mar 30, 2021 |
| FY2019 | Dec 31, 2018 | $902.0K | Mar 19, 2020 |
Total Liabilities
All financial obligations owed to outside parties — including debt, accounts payable, accrued expenses, and deferred revenue. Subtracting liabilities from total assets gives stockholders' equity.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $697.32M | Feb 26, 2026 |
| FY2025 | Dec 31, 2024 | $631.90M | Feb 26, 2026 |
| FY2024 | Dec 31, 2023 | $486.60M | Mar 6, 2025 |
| FY2023 | Dec 31, 2022 | $239.62M | Jun 14, 2024 |
| FY2022 | Dec 31, 2021 | $117.28M | Feb 28, 2023 |
| FY2021 | Dec 31, 2020 | $100.84M | Mar 1, 2022 |
| FY2020 | Dec 31, 2019 | $29.22M | Mar 30, 2021 |
| FY2019 | Dec 31, 2018 | $2.19M | Mar 19, 2020 |
Stockholders Equity
The net worth attributable to shareholders: total assets minus total liabilities. Also called book value. Can be negative if liabilities exceed assets, which is common in capital-intensive industries.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($438.17M) | Feb 26, 2026 |
| FY2025 | Dec 31, 2024 | ($253.58M) | Feb 26, 2026 |
| FY2025 | Dec 31, 2023 | ($72.76M) | Feb 26, 2026 |
| FY2024 | Dec 31, 2022 | ($74.81M) | Mar 6, 2025 |
| FY2023 | Dec 31, 2021 | $72.16M | Jun 14, 2024 |
| FY2022 | Dec 31, 2020 | $194.27M | Feb 28, 2023 |
| FY2021 | Dec 31, 2019 | $227.96M | Mar 1, 2022 |
| FY2020 | Dec 31, 2018 | ($1.29M) | Mar 30, 2021 |
| FY2019 | Dec 31, 2017 | $0 | Mar 19, 2020 |
Retained Earnings
Cumulative net income kept by the company rather than distributed as dividends. A growing retained earnings balance indicates consistent profitability; a deficit indicates cumulative losses.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($1.48B) | Feb 26, 2026 |
| FY2025 | Dec 31, 2024 | ($1.26B) | Feb 26, 2026 |
| FY2024 | Dec 31, 2023 | ($928.69M) | Mar 6, 2025 |
| FY2023 | Dec 31, 2022 | ($727.09M) | Jun 14, 2024 |
| FY2022 | Dec 31, 2021 | ($529.37M) | Feb 28, 2023 |
| FY2021 | Dec 31, 2020 | ($385.49M) | Mar 1, 2022 |
| FY2020 | Dec 31, 2019 | ($256.42M) | Mar 30, 2021 |
| FY2019 | Dec 31, 2018 | ($1.29M) | Mar 19, 2020 |
Cash & Equivalents
Highly liquid assets the company holds — cash on hand, bank balances, and short-term investments with maturities of three months or less. A key indicator of short-term financial health.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $129.97M | Feb 26, 2026 |
| FY2025 | Dec 31, 2024 | $297.26M | Feb 26, 2026 |
| FY2024 | Dec 31, 2023 | $381.39M | Mar 6, 2025 |
| FY2023 | Dec 31, 2022 | $155.39M | Jun 14, 2024 |
| FY2022 | Dec 31, 2021 | $183.26M | Feb 28, 2023 |
| FY2021 | Dec 31, 2020 | $287.50M | Mar 1, 2022 |
| FY2020 | Dec 31, 2019 | $243.77M | Mar 30, 2021 |
| FY2019 | Dec 31, 2018 | $879.0K | Mar 19, 2020 |
Long-Term Debt
Debt obligations due more than one year from the balance sheet date — bonds, term loans, and notes payable. High long-term debt relative to equity can signal elevated financial leverage.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $209.09M | Feb 26, 2026 |
| FY2025 | Dec 31, 2024 | $201.41M | Feb 26, 2026 |
| FY2024 | Dec 31, 2023 | $137.84M | Mar 6, 2025 |
| FY2023 | Dec 31, 2022 | $95.26M | Jun 14, 2024 |
| FY2021 | Dec 31, 2021 | $89.67M | Mar 1, 2022 |
| FY2020 | Dec 31, 2020 | $46.99M | Mar 30, 2021 |
| FY2019 | Dec 31, 2019 | $22.78M | Mar 19, 2020 |
EPS (Basic)
Net income divided by the weighted average shares outstanding. Basic EPS does not account for dilutive securities like options or convertible bonds — use diluted EPS for a more conservative view.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | (3) | Feb 26, 2026 |
| FY2025 | Dec 31, 2024 | (5) | Feb 26, 2026 |
| FY2024 | Dec 31, 2023 | (3) | Mar 6, 2025 |
| FY2023 | Dec 31, 2022 | (5) | Jun 14, 2024 |
| FY2022 | Dec 31, 2021 | (3) | Feb 28, 2023 |
EPS (Diluted)
Net income divided by the fully diluted share count — including all potential shares from options, warrants, and convertible instruments. The more conservative and widely cited EPS figure.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | (3) | Feb 26, 2026 |
| FY2025 | Dec 31, 2024 | (5) | Feb 26, 2026 |
| FY2024 | Dec 31, 2023 | (3) | Mar 6, 2025 |
| FY2023 | Dec 31, 2022 | (5) | Jun 14, 2024 |
| FY2022 | Dec 31, 2021 | (3) | Feb 28, 2023 |
Shares Outstanding
Total common shares issued and held by all shareholders, excluding treasury shares. Combined with market price gives market capitalization.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 71.42M | Feb 26, 2026 |
| FY2025 | Dec 31, 2024 | 68.52M | Feb 26, 2026 |
| FY2024 | Dec 31, 2023 | 57.97M | Mar 6, 2025 |
| FY2023 | Dec 31, 2022 | 41.47M | Jun 14, 2024 |
| FY2022 | Dec 31, 2021 | 30.51M | Feb 28, 2023 |
| FY2021 | Dec 31, 2020 | 28.52M | Mar 1, 2022 |
| FY2020 | Dec 31, 2019 | 24.73M | Mar 30, 2021 |