StockData
Phathom Pharmaceuticals, Inc. logo

Phathom Pharmaceuticals, Inc. (PHAT) stock

PHATNasdaqPharmaceutical PreparationsFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 29, 2026Score 4/30
$6.06−0.17 (-2.73%)

Close on Nov 13, 2026Market cap $492.63MP/E –Yield –

Earnings

Phathom Pharmaceuticals's quarterly results as reported in its earnings releases, with the company's own outlook. Hover a number to see the sentence it came from.

Next report
Feb 25, 2027
Q4 FY2026 · estimated, before the open
Revenue, Q3 FY2026
$84.70M
+71.1% on a year earlier
Non-GAAP net income (loss) per share — basic and diluted, Q3 FY2026
$0.04
-$0.15 a year earlier
Latest guidance
Lowered
Oct 29, 2026 · 4 items

Quarterly results

Revenue and earnings per share from each of Phathom Pharmaceuticals's earnings releases, newest first

QuarterReportedRevenueYoYEPSAdj. EPSSource
Q4 FY2026ended Dec 31, 2026Feb 25, 2027Expected–––––
Q3 FY2026ended Sep 30, 2026Oct 29, 2026before the open$84.70M+71.1%-$0.16$0.04Release
Q2 FY2026ended Jun 30, 2026Jul 30, 2026before the open$74.30M+88.1%––Release
Q1 FY2026ended Mar 31, 2026Apr 30, 2026before the open$58.30M+104.6%-$0.37-$0.18Release
Q4 FY2025ended Dec 31, 2025Feb 26, 2026before the open$57.60M+93.9%-$0.29-$0.08Release
Q3 FY2025ended Sep 30, 2025Oct 30, 2025before the open$49.50M+201.8%-$0.41-$0.15Release
Q2 FY2025ended Jun 30, 2025Aug 7, 2025before the open$39.50M+441.1%-$1.05-$0.79Release
Q1 FY2025ended Mar 31, 2025May 1, 2025before the open$28.50M+1400.0%-$1.31-$1.07Release
Q4 FY2024ended Dec 31, 2024Mar 6, 2025before the open$29.70M+4142.9%––Release
Q3 FY2024ended Sep 30, 2024Nov 7, 2024before the open$16.40M–-$1.32-$1.05Release
Q2 FY2024ended Jun 30, 2024Aug 8, 2024before the open$7.30M–-$1.56-$1.25Release
Q1 FY2024ended Mar 31, 2024May 9, 2024before the open$1.90M–-$1.42-$1.11Release

Figures as first announced; later restatements appear under Financials. Expected dates are estimated from the company's past reporting pattern.

Current guidance

Phathom Pharmaceuticals's latest outlook for periods it has not reported yet, compared with what it said before

MetricPeriodGuidanceBeforeChangeGiven
Net revenueGAAPFY2026$310.00M – $325.00M$320.00M – $345.00MLoweredOct 29, 2026
Net revenuesFY2026$320.00M – $345.00M–NewApr 30, 2026
gross marginFY202680%80%ReaffirmedJul 30, 2026
Gross marginGAAPFY202680%80%ReaffirmedOct 29, 2026
Gross- to-netFY202655% – 59%–NewFeb 26, 2026
gross-to-net discountFY202655% – 59%55% – 59%ReaffirmedJul 30, 2026
Gross-to-net discountFY202655% – 59%–ReaffirmedOct 29, 2026
Non-GAAP operating expenses, excluding stock-based compensationnon-GAAPFY2026$235.00M – $245.00M$235.00M – $250.00MLoweredOct 29, 2026
Non-GAAP operating expenses, excluding stock-based compensationnon-GAAPFY2026$235.00M – $255.00M–NewApr 30, 2026

Guidance vs results

The last range Phathom Pharmaceuticals gave before each report, against the figure it then reported. Full years add up the four quarters.

PeriodMetricGuidanceActualResult
FY2025Revenue$170.00M – $175.00M$175.10MΣ4QAbove range

Guidance history

Every forecast Phathom Pharmaceuticals put in an earnings release, newest first

GivenMetricPeriodGuidanceChange
Oct 29, 2026Gross marginFY202680%Reaffirmed
Oct 29, 2026Gross-to-net discountFY202655% – 59%Reaffirmed
Oct 29, 2026Non-GAAP operating expenses, excluding stock-based compensationFY2026$235.00M – $245.00MLowered
Oct 29, 2026Net revenueFY2026$310.00M – $325.00MLowered
Jul 30, 2026gross marginFY202680%Reaffirmed
Jul 30, 2026gross-to-net discountFY202655% – 59%Reaffirmed
Apr 30, 2026Gross marginFY202680%New
Apr 30, 2026Gross-to-net discountFY202655% – 59%New
Apr 30, 2026Non-GAAP operating expenses, excluding stock-based compensationFY2026$235.00M – $255.00MNew
Apr 30, 2026Net revenuesFY2026$320.00M – $345.00MNew
Feb 26, 2026Gross marginFY202680%New
Feb 26, 2026Gross- to-netFY202655% – 59%New
Feb 26, 2026Non-GAAP operating expenses, excluding stock-based compensationFY2026$235.00M – $250.00MNew
Feb 26, 2026Net revenuesFY2026$320.00M – $345.00MNew
Oct 30, 2025non-GAAP operating expensesQ4 FY2025$55.00MReaffirmed
Oct 30, 2025revenue guidanceFY2025$170.00M – $175.00MNew
Aug 7, 2025non-GAAP operating expensesQ3 FY2025$60.00MNew
Aug 7, 2025non-GAAP operating expensesQ4 FY2025$55.00MNew
Aug 7, 2025revenueFY2025$165.00M – $175.00MNew
May 1, 2025quarterly cash operating expense spendQ4 FY2025$55.00MNew

Read from the company's earnings releases; each figure links to its sentence on hover. “Raised” and “Lowered” compare with the previous range for the same metric and period.

Press releases

Releases Phathom Pharmaceuticals filed with the SEC as exhibits to Form 8-K or 6-K

  1. Phathom Pharmaceuticals Reports Third Quarter 2026 Financial Results and Provides Business Update
    Results
  2. Phathom Pharmaceuticals Reports Second Quarter 2026 Financial Results and Provides Business Update
    Results
  3. Phathom Pharmaceuticals Reports First Quarter 2026 Financial Results and Provides Business Update
    Results
  4. Phathom Pharmaceuticals Reports Fourth Quarter and Full Year 2025 Financial Results and Provides 2026 Financial Guidance
    Results
  5. FLORHAM PARK, N.J., January 7, 2026—Phathom Pharmaceuticals, Inc. (Nasdaq: PHAT), a biopharmaceutical company
    News
  6. Phathom Pharmaceuticals Announces Pricing of $130 Million Public Offering of Common Stock and Pre-Funded Warrants
    News
  7. Phathom Pharmaceuticals Announces Preliminary Fourth Quarter and Full Year 2025 Financial Results
    Results
  8. Phathom Pharmaceuticals Reports Third Quarter 2025 Financial Results and Provides Business Update
    Results
  9. Phathom Pharmaceuticals Reports Second Quarter 2025 Financial Results and Provides Business Updates
    Results
  10. This letter responds to your citizen petition submitted on behalf of Phathom Pharmaceuticals, Inc. (Phathom), and received on December 11, 2024
    Update
  11. Phathom Pharmaceuticals Reports First Quarter 2025 Financial Results and Provides Business Update
    Results
  12. Phathom Pharmaceuticals Reports Fourth Quarter and Full Year 2024 Financial Results and Provides Business Update
    Results
  13. Phathom Pharmaceuticals Reports Third Quarter 2024 Financial Results and Provides Business Updates
    Results
  14. Phathom Pharmaceuticals Announces Pricing of $130 Million Offering of Common Stock and Pre-Funded Warrants
    News
  15. Phathom Pharmaceuticals Reports Second Quarter 2024 Financial Results and Provides Business Update
    Results

See a number that looks wrong?