Phathom Pharmaceuticals (PHAT) Cost of Revenue (2023 - 2026)

Phathom Pharmaceuticals' (PHAT) quarterly Cost of Revenue came in at $12.0 million in Q1 2026, up 222.13% year-on-year from $3.7 million in Q1 2025, and up 56.85% on a QoQ basis from $7.6 million in Q4 2025.

Phathom Pharmaceuticals (PHAT) Cost of Revenue (2023 - 2026) Analysis & Trends

Phathom Pharmaceuticals (PHAT) has 4 years of Cost of Revenue data on file, last reported at $12.0 million in Q1 2026.

  • On a quarterly basis, Cost of Revenue rose 222.13% year-over-year to $12.0 million in Q1 2026; TTM through Mar 2026 was $30.9 million, a 173.91% increase from a year earlier, with the FY2025 full-year figure at $22.6 million, up 183.44% from the prior year.
  • Cost of Revenue for Q1 2026 stood at $12.0 million, up from $7.6 million in the prior quarter.
  • Over the last five years, Cost of Revenue for PHAT reached as high as $12.0 million in Q1 2026 and fell as low as $167000.0 in Q4 2023.
  • Historically, Cost of Revenue has averaged $4.3 million across 4 years, with a median of $3.8 million in 2024.
  • Across the five-year window, Cost of Revenue surged 2184.43% in 2024 and surged 100.47% in 2025, its largest moves.
  • Year by year, Cost of Revenue stood at $167000.0 in 2023, then jumped by 2184.43% to $3.8 million in 2024, then soared by 100.47% to $7.6 million in 2025, then soared by 56.85% to $12.0 million in 2026.
  • Per Business Quant data, the three most recent Cost of Revenue figures were $12.0 million in Q1 2026, $7.6 million in Q4 2025, and $6.2 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Cost of Rev (Qtr)
1 Oculis Holding AG 67,072.09 Bn 67,072.09 Bn - -
2 Nanobiotix 1,894.61 Bn 1,894.55 Bn - -
3 Akari Therapeutics 1,014.18 Bn 1,014.18 Bn - -
4 BeOne Medicines 471.64 Bn 466.85 Bn 1.35 Bn 167.22 Mn
5 Vertex Pharmaceuticals 121.72 Bn 114.47 Bn 2.59 Bn 392.80 Mn
6 Regeneron Pharmaceuticals 68.28 Bn 59.52 Bn 3.31 Bn 296.00 Mn
7 Belite Bio 61.40 Bn 61.40 Bn - -
8 Argenx Se 56.94 Bn 56.94 Bn 1.18 Bn 121.00 Mn
9 Revolution Medicines 37.37 Bn 37.37 Bn - -
10 Phathom Pharmaceuticals 945.22 Mn 761.46 Mn 46.31 Mn 12.00 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 12.00 Mn
Mar 31, 2026 12.00 Mn
Dec 31, 2025 7.65 Mn
Dec 31, 2025 7.65 Mn
Sep 30, 2025 6.19 Mn
Sep 30, 2025 6.19 Mn
Jun 30, 2025 5.04 Mn
Jun 30, 2025 5.04 Mn
Mar 31, 2025 3.72 Mn
Mar 31, 2025 3.72 Mn
Dec 31, 2024 3.82 Mn
Dec 31, 2024 3.82 Mn
Sep 30, 2024 2.36 Mn
Sep 30, 2024 2.36 Mn
Jun 30, 2024 1.38 Mn
Jun 30, 2024 1.38 Mn
Mar 31, 2024 426,000.00
Mar 31, 2024 426,000.00
Dec 31, 2023 167,000.00
Dec 31, 2023 167,000.00