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Phathom Pharmaceuticals, Inc. income statement

In fiscal 2025, Phathom Pharmaceuticals, Inc. reported revenue of $175m, up 216.9% on the year before, operating income of −$160m (a -91.4% margin) and net income of −$221m, or −$3.03 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Revenue0155175275
Cost of revenue0082353
Gross profit0147153222
Research and development7150343332
Selling, general and administrative101118291280215
Operating income−172−167−277−160−25
Interest expense2742726863
Income before tax——−334−221—
Income tax0000—
Net income−198−202−334−221−83
Diluted EPS−$5.05−$3.93−$5.29−$3.03−$1.02
Diluted shares (average)39m51m63m73m81m
EBITDA−172−167−277−159−25

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Phathom Pharmaceuticals, Inc.'s SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Phathom Pharmaceuticals, Inc.