Phathom Pharmaceuticals, Inc.
Company Stats
- Market Cap
- $590.6M
- as of Sep 30, 2026
- Enterprise Value
- $660.6M
- Shares Outstanding
- 80.9M
- Free Float
- 60.0%
Income Statement
- Revenue
- $175.1M
- Operating Income
- -$160.0M
- Net Income
- -$221.2M
- EBITDA
- -$159.4M
- FCF Margin, 3Y Avg
- -6997.0%
- FCF Margin, Worst Year
- -20412.6%
Cash Flow
- Free Cash Flow
- -$167.0M
- FCF Yield
- -28.3%
- Owner FCF Yield
- -33.1%
Balance Sheet
- Cash & Equivalents
- $130.0M
- Total Debt
- $200.0M
- Net Debt
- $70.0M
Returns & Capital
- SBC, 3Y Avg
- $32.6M
Cash Flow by Year
| Year | Revenue | FCF | Margin |
|---|---|---|---|
| FY2025 | $175.1M | -$167.0M | -95.4% |
| FY2024 | $55.3M | -$266.9M | -483.1% |
| FY2023 | $682,000 | -$139.2M | -20412.6% |
| FY2022 | $0 | -$147.6M | — |
| FY2021 | — | -$148.8M | — |
Annual filing data through FY ended December 31, 2025; shares and float as of November 4, 2026. Yields and enterprise value use the calculated market cap above, at its as-of date. Ratios are our calculations from reported figures.
Stronger demand supports expansion as pricing diverges
Healthcare Earnings: Demand Surges, Costs Bite Back