Phathom Pharmaceuticals (PHAT) Operating Income (2018 - 2026)

Phathom Pharmaceuticals' (PHAT) quarterly Operating Income came in at -$15.5 million in Q1 2026, up 80.37% year-on-year from -$8.6 million in Q1 2025, and down 161.08% on a QoQ basis from -$5.9 million in Q4 2025.

Phathom Pharmaceuticals (PHAT) Operating Income (2018 - 2026) Analysis & Trends

Phathom Pharmaceuticals (PHAT) has 9 years of Operating Income data on file, last reported at -$15.5 million in Q1 2026.

  • On a quarterly basis, Operating Income rose 80.37% year-over-year to -$15.5 million in Q1 2026; TTM through Mar 2026 was -$96.6 million, a 66.27% increase from a year earlier, with the FY2025 full-year figure at -$160.0 million, up 42.34% from the prior year.
  • Operating Income for Q1 2026 stood at -$15.5 million, down from -$5.9 million in the prior quarter.
  • Over the last five years, Operating Income for PHAT reached as high as -$5.9 million in Q4 2025 and fell as low as -$78.9 million in Q1 2025.
  • Historically, Operating Income has averaged -$46.6 million across 5 years, with a median of -$45.4 million in 2022.
  • Across the five-year window, Operating Income tumbled 143.84% in 2024 and soared 90.02% in 2025, its largest moves.
  • Year by year, Operating Income stood at -$46.6 million in 2022, then sank by 49.81% to -$69.9 million in 2023, then advanced by 14.97% to -$59.4 million in 2024, then surged by 90.02% to -$5.9 million in 2025, then tumbled by 161.08% to -$15.5 million in 2026.
  • Per Business Quant data, the three most recent Operating Income figures were -$15.5 million in Q1 2026, -$5.9 million in Q4 2025, and -$15.3 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Op. Inc (Qtr)
1 Oculis Holding AG 68,785.72 Bn 68,785.72 Bn - -27.75 Mn
2 Nanobiotix 1,895.57 Bn 1,895.51 Bn - -
3 BeOne Medicines 471.35 Bn 466.56 Bn 1.35 Bn 249.90 Mn
4 NuCana 279.75 Bn 279.75 Bn - -3.72 Mn
5 Vertex Pharmaceuticals 120.24 Bn 113.00 Bn 2.59 Bn 1.14 Bn
6 Regeneron Pharmaceuticals 67.80 Bn 59.04 Bn 3.31 Bn 642.90 Mn
7 Belite Bio 62.51 Bn 62.51 Bn - -32.68 Mn
8 Argenx Se 57.38 Bn 57.38 Bn 1.41 Bn 493.00 Mn
9 Revolution Medicines 37.78 Bn 37.78 Bn - -445.22 Mn
10 Phathom Pharmaceuticals 951.79 Mn 768.02 Mn 46.31 Mn -15.48 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 -15.48 Mn
Dec 31, 2025 -5.93 Mn
Sep 30, 2025 -15.27 Mn
Jun 30, 2025 -59.92 Mn
Mar 31, 2025 -78.86 Mn
Dec 31, 2024 -59.42 Mn
Sep 30, 2024 -70.80 Mn
Jun 30, 2024 -77.30 Mn
Mar 31, 2024 -69.95 Mn
Dec 31, 2023 -69.88 Mn
Sep 30, 2023 -35.66 Mn
Jun 30, 2023 -31.70 Mn
Mar 31, 2023 -30.08 Mn
Dec 31, 2022 -46.64 Mn
Sep 30, 2022 -42.53 Mn
Jun 30, 2022 -45.36 Mn
Mar 31, 2022 -37.91 Mn
Dec 31, 2021 -33.04 Mn
Sep 30, 2021 -33.14 Mn
Jun 30, 2021 -35.32 Mn