Phathom Pharmaceuticals (PHAT) Operating Income (2018 - 2026)
Phathom Pharmaceuticals (PHAT) posted quarterly Operating Income of -$4.0 million for Q2 2026, up 93.38% year-over-year from -$2.1 million in Q2 2025, and up 74.38% quarter-over-quarter from -$15.5 million in Q1 2026.
Phathom Pharmaceuticals (PHAT) Operating Income (2018 - 2026) Analysis & Trends
Phathom Pharmaceuticals (PHAT) has reported Operating Income for 9 consecutive years, with -$4.0 million the latest figure, recorded in Q2 2026.
- In Q2 2026, Operating Income rose 93.38% year-over-year to -$4.0 million; the TTM figure through Jun 2026 stood at -$40.6 million (up 84.89% YoY), while the FY2025 annual figure was -$160.0 million, up 42.34% from the prior year.
- Operating Income climbed to -$4.0 million in Q2 2026 per PHAT's latest filing, from -$15.5 million in the prior quarter.
- Across five years, Operating Income topped out at -$4.0 million in Q2 2026 and bottomed at -$78.9 million in Q1 2025.
- Historically, Operating Income has averaged -$44.3 million across 5 years, with a median of -$43.9 million in 2022.
- Annual changes were most pronounced in 2024 — Operating Income sank 143.84% — and 2026, when it soared 93.38%.
- Phathom Pharmaceuticals' Operating Income stood at -$46.6 million in 2022, then sank by 49.81% to -$69.9 million in 2023, then rose by 14.97% to -$59.4 million in 2024, then soared by 90.02% to -$5.9 million in 2025, then surged by 33.11% to -$4.0 million in 2026.
- Business Quant data shows PHAT's Operating Income at -$4.0 million in Q2 2026, -$15.5 million in Q1 2026, and -$5.9 million in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Op. Inc (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 128.13 Bn | 120.28 Bn | 2.84 Bn | 1.25 Bn |
| 2 | Regeneron Pharmaceuticals | 112.33 Bn | 104.33 Bn | 3.93 Bn | 1.29 Bn |
| 3 | Argenx Se | 53.24 Bn | 48.05 Bn | 1.41 Bn | 493.00 Mn |
| 4 | Revolution Medicines | 43.64 Bn | 43.64 Bn | - | -505.13 Mn |
| 5 | BeOne Medicines | 39.27 Bn | 34.17 Bn | 1.53 Bn | 325.05 Mn |
| 6 | MindWalk Holdings | 35.32 Bn | 35.31 Bn | 1.82 Bn | -3,158.03 |
| 7 | Royalty Pharma | 33.72 Bn | 35.84 Bn | - | 133.12 Mn |
| 8 | Alnylam Pharmaceuticals | 30.58 Bn | 27.27 Bn | 992.69 Mn | 231.44 Mn |
| 9 | Insmed | 27.01 Bn | 25.85 Bn | 358.27 Mn | -1.55 Mn |
| 10 | Phathom Pharmaceuticals | 767.07 Mn | 581.73 Mn | 59.18 Mn | -3.97 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | -3.97 Mn |
| 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 |