Phathom Pharmaceuticals, Inc. (PHAT) Revenue History
Annual and quarterly revenue from 2018 to present
PHAT Revenue Over Time (2018–2025)
PHAT Revenue Growth History
2 of 2 years with positive growth- FY2018 revenue growth
- N/A
- FY2019 revenue growth
- N/A
- FY2020 revenue growth
- N/A
- FY2021 revenue growth
- N/A
- FY2022 revenue growth
- N/A
- FY2023 revenue growth
- N/A
- FY2024 revenue growth
- +8001.5%
- FY2025 revenue growth
- +216.9%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $58.3M | +104.4% |
| Q4 2025 | $57.6M | +94.1% |
| Q3 2025 | $49.5M | +202.7% |
| Q2 2025 | $39.5M | +439.4% |
| Q1 2025 | $28.5M | +1391.6% |
| Q4 2024 | $29.7M | +4249.6% |
| Q3 2024 | $16.4M | — |
| Q2 2024 | $7.3M | — |
Multi-year avg. share of annual revenue by fiscal quarter
PHAT Revenue Analysis (2018–2025)
Current Revenue & Growth
As of June 22, 2026, Phathom Pharmaceuticals, Inc. (PHAT) generated trailing twelve-month (TTM) revenue of $204.9 million, reflecting explosive growth of +104.4% year-over-year. The most recent quarter (Q1 2026) recorded $58.3 million in revenue, up 1.2% sequentially.
Historical Growth Trajectory
PHAT's historical revenue data shows various trends over time. Phathom Pharmaceuticals, Inc.'s highest annual revenue of $175.1 million was recorded in 2025, an all-time high.
Peer Comparison
Compared to Healthcare sector peers — including ACAD (+9.9% YoY), SUPN (+16.3% YoY), and PRGO (-3.6% YoY) — PHAT has outperformed the peer group in revenue growth. Compare PHAT vs ACAD →
PHAT Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| PHATCurrent | $205M | +104.4% | - | -91.4% | |
 ACAD | $1.1B | +9.9% | +19.4% | 9.8% | |
 SUPN | $719M | +16.3% | +6.7% | -5.1% | |
 PRGO | $4.3B | -3.6% | +0.8% | 8.1% | |
 IRWD | $296M | +13.8% | -5.3% | 40.1% | |
 PTGX | $46M | -91.5% | +10.0% | -343.6% |
PHAT Historical Revenue Data (2018–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $175.1M | +216.9% | $152.5M | 87.1% | $-159,986,000 | -91.4% |
| 2024 | $55.3M | +8001.5% | $47.3M | 85.6% | $-277,467,000 | -502.2% |
| 2023 | $682K | - | $515K | 75.5% | $-167,312,000 | -24532.6% |
| 2022 | $0 | - | $-620,000 | - | $-172,440,000 | - |
| 2021 | $0 | - | $-521,000 | - | $-135,080,000 | - |
| 2020 | $0 | - | $-300,000 | - | $-125,665,000 | - |
| 2019 | $0 | - | $-8,000 | - | $-106,215,000 | - |
| 2018 | $0 | - | $0 | - | $-1,225,000 | - |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
8+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
PHAT — Frequently Asked Questions
Quick answers to the most common questions about buying PHAT stock.
Is PHAT's revenue growth accelerating or slowing?
PHAT revenue growth is accelerating. TTM revenue reached $205M, up +104.4% year-over-year — ahead of the 5-year CAGR of N/A. This indicates the business is expanding faster than its historical baseline.
What is PHAT's revenue history from 2018 to 2026?
Phathom Pharmaceuticals, Inc. (PHAT) revenue history spans 2018 to 2026. TTM revenue as of 2026 is $205M, growing at +104.4% YoY. The 5-year CAGR is N/A. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is PHAT's long-term revenue growth rate (CAGR)?
Phathom Pharmaceuticals, Inc.'s 5-year revenue CAGR of N/A reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +104.4% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for PHAT.
Why does PHAT's quarterly revenue fluctuate?
PHAT quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Phathom Pharmaceuticals, Inc.'s revenue data from 2018 to 2026 shows full historical quarterly detail on this page.
How is PHAT's revenue distributed by segment?
PHAT reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does PHAT's revenue compare to industry peers?
Phathom Pharmaceuticals, Inc. (PHAT) with TTM revenue of $205M and +104.4% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.