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10-K

Annual Report

Phathom Pharmaceuticals, Inc. PHAT

0001193125-26-073379

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Filed
Feb 26, 2026 12:00 AM ET
Period of report

On SEC.gov

Financials in this filing

Metric Period Value
Shares Outstanding FY 2025 · Feb 23, 2026 78.8M sh
Shares Diluted FY 2025 · Dec 31, 2025 72.92M sh
Shares Diluted FY 2025 · Dec 31, 2024 63.18M sh
Capex FY 2025 · Dec 31, 2025 $229K
Capex FY 2025 · Dec 31, 2024 $135K
Operating Cash Flow FY 2025 · Dec 31, 2025 −$166.78M
Operating Cash Flow FY 2025 · Dec 31, 2024 −$266.77M
Long Term Debt FY 2025 · Dec 31, 2025 $209.09M
Long Term Debt FY 2025 · Dec 31, 2024 $201.41M
Short Term Debt FY 2025 · Dec 31, 2025 $0
Short Term Debt FY 2025 · Dec 31, 2024 $0
Cash And Equivalents FY 2025 · Dec 31, 2025 $129.97M
Cash And Equivalents FY 2025 · Dec 31, 2024 $297.26M
Stockholders Equity FY 2025 · Dec 31, 2025 −$438.17M
Stockholders Equity FY 2025 · Dec 31, 2024 −$253.58M
Current Liabilities FY 2025 · Dec 31, 2025 $132.04M
Current Liabilities FY 2025 · Dec 31, 2024 $85.73M
Total Liabilities FY 2025 · Dec 31, 2025 $697.32M
Total Liabilities FY 2025 · Dec 31, 2024 $631.9M
Current Assets FY 2025 · Dec 31, 2025 $228.97M
Current Assets FY 2025 · Dec 31, 2024 $360.13M
Total Assets FY 2025 · Dec 31, 2025 $259.15M
Total Assets FY 2025 · Dec 31, 2024 $378.32M
Eps Diluted FY 2025 · Dec 31, 2025 −$3.03
Eps Diluted FY 2025 · Dec 31, 2024 −$5.29
Eps Basic FY 2025 · Dec 31, 2025 −$3.03
Eps Basic FY 2025 · Dec 31, 2024 −$5.29
Sga Expense FY 2025 · Dec 31, 2025 $279.72M
Sga Expense FY 2025 · Dec 31, 2024 $290.66M
Rd Expense FY 2025 · Dec 31, 2025 $32.78M
Rd Expense FY 2025 · Dec 31, 2024 $34.08M
Net Income FY 2025 · Dec 31, 2025 −$221.25M
Net Income FY 2025 · Dec 31, 2024 −$334.33M
Operating Income FY 2025 · Dec 31, 2025 −$159.99M
Operating Income FY 2025 · Dec 31, 2024 −$277.47M
Gross Profit FY 2025 · Dec 31, 2025 $152.51M
Gross Profit FY 2025 · Dec 31, 2024 $47.28M
Cost Of Revenue FY 2025 · Dec 31, 2025 $22.6M
Cost Of Revenue FY 2025 · Dec 31, 2024 $7.97M
Revenue FY 2025 · Dec 31, 2025 $175.11M
Revenue FY 2025 · Dec 31, 2024 $55.25M