Phathom Pharmaceuticals, Inc. (PHAT) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 6, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Jul 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PHAT SEC filings page.
Phathom Pharmaceuticals, Inc. (PHAT) reported $239.7M in revenue over the twelve months to Jun 30, 2026, up 110.2% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue has reached commercial scale, but operating costs still consume $167M in annual cash.
From FY2024 to FY2025, revenue more than tripled and gross margin edged up from85.6% to87.1% , while the operating loss narrowed materially. Yet operating cash flow of-$166.8M was almost identical to free cash flow of-$167.0M because capital spending was only$229K ; the cash deficit is primarily operating expense, not heavy physical reinvestment.
The balance sheet became more constrained as sales expanded: total liabilities reached
A
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Phathom Pharmaceuticals, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Phathom Pharmaceuticals, Inc. held $130.0M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $166.8M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Phathom Pharmaceuticals, Inc. scores 28/100 among other emerging companies.
Phathom Pharmaceuticals, Inc. had 79M shares outstanding at the end of fiscal year 2025, against 70M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Phathom Pharmaceuticals, Inc. scores 40/100 among other emerging companies.
Phathom Pharmaceuticals, Inc. spent $32.8M on research and development in fiscal year 2025, which was 9.8% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Phathom Pharmaceuticals, Inc. scores 36/100 among other emerging companies.
Phathom Pharmaceuticals, Inc. reported revenue of $175.1M in fiscal year 2025, against $55.3M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Phathom Pharmaceuticals, Inc. scores 99/100 among other emerging companies.
Phathom Pharmaceuticals, Inc.'s operations used $166.8M of cash in fiscal year 2025, against $266.8M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Phathom Pharmaceuticals, Inc. scores 36/100 among other emerging companies.
Phathom Pharmaceuticals, Inc.'s cash, cash equivalents and investments came to $130.0M at the end of fiscal year 2025, against $697.3M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Phathom Pharmaceuticals, Inc. scores 26/100 among other emerging companies.
Phathom Pharmaceuticals, Inc. scores -8.46, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($548.5M) relative to total liabilities ($697.3M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Phathom Pharmaceuticals, Inc. passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Phathom Pharmaceuticals, Inc. reported a net loss of $221K while operations used $166.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Phathom Pharmaceuticals, Inc. reported an operating loss of $160.0M against $68.1M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Phathom Pharmaceuticals, Inc. generated $74.3M in revenue in Q2 2026. This represents an increase of 88.0% from the same quarter a year earlier. Against the prior quarter it is up 27.4%.
Phathom Pharmaceuticals, Inc.'s EBITDA was -$3.9M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 93.6% from the same quarter a year earlier. Against the prior quarter it is up 74.9%.
Phathom Pharmaceuticals, Inc. reported -$17.6M in net income in Q2 2026. This represents an increase of 76.8% from the same quarter a year earlier. Against the prior quarter it is up 42.1%.
Phathom Pharmaceuticals, Inc. earned -$0.21 per diluted share (EPS) in Q2 2026. This represents an increase of 80.0% from the same quarter a year earlier. Against the prior quarter it is up 43.2%.
Cash & Balance Sheet
Phathom Pharmaceuticals, Inc. recorded an outflow of $2.0M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents an increase of 96.9% from the same quarter a year earlier. Against the prior quarter it is up 87.4%.
Phathom Pharmaceuticals, Inc. held $182.5M in cash against $164.6M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Phathom Pharmaceuticals, Inc.'s gross margin was 79.7% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 7.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.3 percentage points.
Phathom Pharmaceuticals, Inc.'s operating margin was -5.3% in Q2 2026, reflecting core business profitability. Against the prior quarter it is up 21.2 percentage points. No change is given against Q2 2025: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Phathom Pharmaceuticals, Inc.'s net profit margin was -23.7% in Q2 2026, showing the share of revenue converted to profit. Against the prior quarter it is up 28.4 percentage points. No change is given against Q2 2025: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for Q2 2026.
Capital Allocation
Phathom Pharmaceuticals, Inc. invested $7.8M in research and development in Q2 2026. This represents a decrease of 13.9% from the same quarter a year earlier. Against the prior quarter it is up 0.5%.
Phathom Pharmaceuticals, Inc. invested $44K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 54.6% from the same quarter a year earlier. Against the prior quarter it is down 27.9%.
Not reported for Q2 2026.
PHAT Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $74.3M+88.0% | $58.3M+104.4% | $57.6M+94.1% | $49.5M+202.7% | $39.5M+439.4% | $28.5M+1391.6% | $29.7M | $16.4M |
| Cost of Revenue | $15.1M+199.6% | $12.0M+222.1% | $7.6M+100.4% | $6.2M+162.7% | $5.0M+266.1% | $3.7M+774.2% | $3.8M | $2.4M |
| Gross Profit | $59.2M+71.7% | $46.3M+86.8% | $49.9M+93.2% | $43.3M+209.5% | $34.5M+479.4% | $24.8M+1568.6% | $25.8M | $14.0M |
| R&D Expenses | $7.8M-13.9% | $7.8M-15.4% | $7.5M-12.7% | $7.0M-19.2% | $9.1M+23.0% | $9.2M-2.6% | $8.6M | $8.7M-29.1% |
| SG&A Expenses | $55.3M-35.1% | $54.0M-42.8% | $48.4M-36.9% | $51.6M-32.2% | $85.3M+12.4% | $94.5M+52.4% | $76.7M | $76.1M+225.3% |
| Operating Income | -$4.0M+93.4% | -$15.5M+80.4% | -$5.9M+90.0% | -$15.3M+78.4% | -$59.9M+22.5% | -$78.9M-12.7% | -$59.4M | -$70.8M-98.5% |
| EBITDA | -$3.9M+93.6% | -$15.4M+80.5% | -$5.8M+90.2% | -$15.1M+78.6% | -$59.8M+22.5% | -$78.7M-12.8% | -$59.2M | -$70.6M-98.5% |
| Interest Expense | $15.1M-13.8% | $15.8M-12.6% | $16.4M-11.7% | $16.1M-12.9% | $17.5M-1.4% | $18.1M+5.3% | $18.6M | $18.5M+82.9% |
| Net Income | -$17.6M+76.8% | -$30.4M+67.8% | $199.9M-23.0% | -$30.0M+65.0% | -$75.8M+17.1% | -$94.3M-13.8% | $259.5M | -$85.6M-97.9% |
| EPS (Basic) | -$0.21+80.0% | -$0.37+71.8% | -$0.27+73.0% | -$0.41+68.9% | -$1.05+32.7% | -$1.31+7.7% | -$1.00+31.0% | -$1.32-73.7% |
| EPS (Diluted) | -$0.21+80.0% | -$0.37+71.8% | -$0.27+73.0% | -$0.41+68.9% | -$1.05+32.7% | -$1.31+7.7% | -$1.00+31.0% | -$1.32-73.7% |
| Diluted Shares (Avg) | 84M+15.6% | 82M+14.0% | N/A | 73M+13.6% | 72M+23.8% | 72M+23.3% | N/A | 65M+13.8% |
Not reported in any period shown, so not listed: Income Tax.
PHAT Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $327.1M+30.7% | $305.1M+3.7% | $259.1M-31.5% | $240.3M-37.9% | $250.2M-21.7% | $294.2M-17.5% | $378.3M-8.6% | $387.0M+63.3% |
| Current Assets | $295.9M+35.2% | $276.6M+4.4% | $229.0M-36.4% | $207.8M-44.4% | $218.9M-28.2% | $264.9M-22.2% | $360.1M-9.4% | $373.8M+64.9% |
| Cash & Equivalents | $182.5M+22.0% | $180.9M-14.8% | $130.0M-56.3% | $135.2M-59.6% | $149.6M-45.9% | $212.3M-34.1% | $297.3M-22.1% | $334.7M+56.6% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $7.7M+124.8% | $6.5M+105.6% | $5.5M+72.0% | $3.6M+16.1% | $3.4M+57.6% | $3.2M+117.1% | $3.2M+165.6% | $3.1M+2702.7% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $671.3M+2.3% | $642.1M+1.5% | $697.3M+10.4% | $662.8M+15.4% | $656.1M+18.6% | $632.6M+25.3% | $631.9M+29.9% | $574.2M+125.4% |
| Current Liabilities | $153.8M+67.5% | $125.0M+68.9% | $132.0M+54.0% | $93.1M+42.6% | $91.8M+95.3% | $74.0M+70.3% | $85.7M+121.1% | $65.3M+172.3% |
| Non-Current Liabilities | $517.6M-8.3% | $517.0M-7.4% | $565.3M+3.5% | $569.7M+12.0% | $564.2M+11.5% | $558.6M+21.0% | $546.2M+22.0% | $508.9M+120.5% |
| Long-Term Debt | $164.6M-19.8% | $163.7M-19.5% | $209.1M+3.8% | $207.1M+17.8% | $205.1M+17.6% | $203.2M+36.4% | $201.4M+46.1% | $175.7M+77.0% |
| Total Equity | -$344.3M+15.2% | -$337.0M+0.4% | -$438.2M-72.8% | -$422.5M-125.8% | -$405.8M-73.6% | -$338.4M-127.9% | -$253.6M-248.5% | -$187.1M-952.8% |
| Retained Earnings | -$1.5B-6.9% | -$1.5B-11.6% | -$1.5B-17.5% | -$1.5B-23.1% | -$1.4B-29.9% | -$1.4B-34.2% | -$1.3B-36.0% | -$1.2B-40.0% |
Not reported in any period shown, so not listed: Accounts Receivable, Goodwill.
PHAT Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.9M+96.9% | -$15.6M+81.6% | -$5.0M+92.1% | -$14.1M+77.8% | -$62.7M+11.3% | -$84.9M-23.1% | -$63.5M-44.9% | -$63.6M-99.2% |
| Depreciation & Amortization | $114K-33.7% | $110K-37.9% | $128K-33.7% | $156K-22.0% | $172K-14.0% | $177K-17.3% | $193K+4.3% | $200K+100.0% |
| Stock-Based Compensation | $6.7M-18.9% | $5.5M-0.1% | N/A | $9.3M+65.0% | $8.3M+35.6% | $5.5M-1.5% | N/A | $5.6M-8.2% |
| Capital Expenditures | $44K-54.6% | $61K+238.9% | $87K+1640.0% | $27K-38.6% | $97K+110.9% | $18K-55.0% | $5K-98.9% | $44K-95.3% |
| Free Cash Flow | -$2.0M+96.9% | -$15.7M+81.5% | -$5.1M+92.0% | -$14.1M+77.8% | -$62.8M+11.2% | -$84.9M-23.0% | -$63.5M-43.3% | -$63.6M-93.6% |
| Investing Cash Flow | -$44K+54.6% | -$61K-238.9% | -$87K-1640.0% | -$27K+38.6% | -$97K-110.9% | -$18K+55.0% | -$5K+98.9% | -$44K+95.3% |
| Financing Cash Flow | $3.6M+4338.8% | $66.6M | -$97K-100.4% | -$271K-100.2% | $80K-99.7% | $0-100.0% | $26.0M-87.7% | $122.1M+938800.0% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
PHAT Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 79.7%-7.6pp | 79.4%-7.5pp | 86.7%-0.4pp | 87.5%+1.9pp | 87.3%+6.0pp | 86.9%+9.2pp | 87.1% | 85.6% |
| Operating Margin | -5.3% | -26.6% | -10.3% | -30.9% | -151.7% | -276.5% | -200.3% | -433.0% |
| Net Margin | -23.7% | -52.1% | 347.1% | -60.6% | -191.9% | -330.7% | 874.9% | -523.3% |
| Return on Assets | -5.4%+24.9pp | -10.0%+22.1pp | 77.1%+8.5pp | -12.5%+9.6pp | -30.3%-1.7pp | -32.1%-8.8pp | 68.6% | -22.1%-3.9pp |
| Current Ratio | 1.92-0.5x | 2.21-1.4x | 1.73-2.5x | 2.23-3.5x | 2.38-4.1x | 3.58-4.3x | 4.20-6.0x | 5.73-3.7x |
| Asset Turnover | 0.23+0.1x | 0.19+0.1x | 0.22+0.1x | 0.21+0.2x | 0.16+0.1x | 0.10+0.1x | 0.08 | 0.040.0x |
| FCF Margin | -2.7% | -26.9% | -8.8% | -28.6% | -159.0% | -297.9% | -213.9% | -389.1% |
Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$438.2M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Phathom Pharmaceuticals, Inc. PHAT | FY2025 | $175.1M | -$221K | -0.1% | $548.5M | 44/100 |
| Immunome, Inc. IMNM | FY2025 | $6.9M | -$212.4M | N/A | $2.5B | 49/100 |
| Praxis Precision Medicines, Inc. PRAX | FY2025 | $0 | -$303.0M | N/A | $7.9B | — |
| uniQure N.V. QURE | FY2025 | $16.1M | -$199.0M | N/A | $1.6B | 44/100 |
| EyePoint, Inc. EYPT | FY2025 | $31.4M | -$232.0M | N/A | $271.6M | 46/100 |
| UroGen Pharma Ltd. URGN | FY2025 | $109.8M | -$153.5M | N/A | $2.1B | 42/100 |
Where Phathom Pharmaceuticals, Inc. Ranks
Frequently Asked Questions
What is Phathom Pharmaceuticals, Inc.'s annual revenue?
Phathom Pharmaceuticals, Inc. (PHAT) reported $175.1M in total revenue for fiscal year 2025. This represents a 216.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Phathom Pharmaceuticals, Inc.'s revenue growing?
Phathom Pharmaceuticals, Inc. (PHAT) revenue grew by 216.9% year-over-year, from $55.3M to $175.1M in fiscal year 2025.
Is Phathom Pharmaceuticals, Inc. profitable?
No, Phathom Pharmaceuticals, Inc. (PHAT) reported a net income of -$221K in fiscal year 2025, with a net profit margin of -0.1%.
What is Phathom Pharmaceuticals, Inc.'s EBITDA?
Phathom Pharmaceuticals, Inc. (PHAT) had EBITDA of -$159.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Phathom Pharmaceuticals, Inc. have?
As of fiscal year 2025, Phathom Pharmaceuticals, Inc. (PHAT) had $130.0M in cash and equivalents against $209.1M in long-term debt.
What is Phathom Pharmaceuticals, Inc.'s gross margin?
Phathom Pharmaceuticals, Inc. (PHAT) had a gross margin of 87.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Phathom Pharmaceuticals, Inc.'s operating margin?
Phathom Pharmaceuticals, Inc. (PHAT) had an operating margin of -91.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Phathom Pharmaceuticals, Inc.'s net profit margin?
Phathom Pharmaceuticals, Inc. (PHAT) had a net profit margin of -0.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Phathom Pharmaceuticals, Inc.'s free cash flow?
Phathom Pharmaceuticals, Inc. (PHAT) recorded an outflow of $167.0M in free cash flow during fiscal year 2025. This represents a 37.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Phathom Pharmaceuticals, Inc.'s operating cash flow?
Phathom Pharmaceuticals, Inc. (PHAT) recorded an outflow of $166.8M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Phathom Pharmaceuticals, Inc.'s total assets?
Phathom Pharmaceuticals, Inc. (PHAT) had $259.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Phathom Pharmaceuticals, Inc.'s capital expenditures?
Phathom Pharmaceuticals, Inc. (PHAT) invested $229K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Phathom Pharmaceuticals, Inc. spend on research and development?
Phathom Pharmaceuticals, Inc. (PHAT) invested $32.8M in research and development during fiscal year 2025.
What is Phathom Pharmaceuticals, Inc.'s current ratio?
Phathom Pharmaceuticals, Inc. (PHAT) had a current ratio of 1.73 as of fiscal year 2025, which is generally considered healthy.
What is Phathom Pharmaceuticals, Inc.'s return on assets (ROA)?
Phathom Pharmaceuticals, Inc. (PHAT) had a return on assets of -0.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Phathom Pharmaceuticals, Inc.'s P/E ratio?
Phathom Pharmaceuticals, Inc. (PHAT) trades at 4.5x earnings, its market capitalization divided by net income of $122.0M net income, trailing 12 months to June 30, 2026. The market capitalization is $548.5M as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Phathom Pharmaceuticals, Inc.'s price-to-sales ratio?
Phathom Pharmaceuticals, Inc. (PHAT) trades at 2.3x sales, its market capitalization divided by revenue of $239.7M revenue, trailing 12 months to June 30, 2026. The market capitalization is $548.5M as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Phathom Pharmaceuticals, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Phathom Pharmaceuticals, Inc. (PHAT) held $130.0M in cash, cash equivalents and investments, and reported an operating cash outflow of $166.8M over that year. Dividing the one by the other, the reported balance equals about 9 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is Phathom Pharmaceuticals, Inc.'s debt-to-equity ratio negative or not reported?
Phathom Pharmaceuticals, Inc. (PHAT) has negative shareholder equity of -$438.2M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Phathom Pharmaceuticals, Inc.'s Altman Z-Score?
Phathom Pharmaceuticals, Inc. (PHAT) has an Altman Z-Score of -8.46, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Phathom Pharmaceuticals, Inc.'s Piotroski F-Score?
Phathom Pharmaceuticals, Inc. (PHAT) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Phathom Pharmaceuticals, Inc.'s earnings high quality?
Phathom Pharmaceuticals, Inc. (PHAT) reported a net loss of $221K while operations used $166.8M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Phathom Pharmaceuticals, Inc. cover its interest payments?
Phathom Pharmaceuticals, Inc. (PHAT) reported an operating loss of $160.0M against $68.1M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Phathom Pharmaceuticals, Inc.?
Phathom Pharmaceuticals, Inc. (PHAT) scores 44 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.