Filing Flows › Phathom Pharmaceuticals (PHAT) › Q3 2026 › vs Q2 2026
Phathom Pharmaceuticals (PHAT) Q3 2026 vs Q2 2026 (quarter over quarter)
Phathom Pharmaceuticals's revenue rose $10.4M (+14%) from $74.3M in Q2 2026 to $84.7M in Q3 2026.
Phathom Pharmaceuticals, Q3 2026: revenue $84.7M (+71% year over year), operating margin -0.1%, net loss $13.9M, operating cash flow $1.8M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Free cash flow margin | 2.0% | -2.7% | +4.7 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $84.7M | $74.3M | $10.4M | +14% |
| Net loss | $13.9M | $17.6M | −$3.7M | -21% |
| Costs & expenses | $98.6M | $91.9M | $6.8M | +7% |
| Operating costs | $84.8M | $78.2M | $6.6M | +8% |
| Interest & other, net | $13.8M | $13.6M | $195K | +1% |
| Cost of revenue | $18.4M | $15.1M | $3.3M | +22% |
| Research & development | $8.7M | $7.8M | $932K | +12% |
| SG&A | $57.7M | $55.3M | $2.4M | +4% |
| Operating cash sources | $15.7M | $15.7M | $84K | +0.5% |
| Depreciation & amortization | $120K | $114K | $6K | +5% |
| Share-based compensation | $5.9M | $6.7M | −$791K | -12% |
| Working capital & other | $9.7M | $8.8M | $869K | +10% |
| Net loss absorbed | $13.9M | $17.6M | −$3.7M | -21% |
| Operating cash flow | $1.8M | −$1.9M | $3.8M | — |
| Free cash flow (OCF − capex) | $1.7M | −$2.0M | $3.7M | — |
| Capital expenditures | $110K | $44K | $66K | +150% |
Questions
How much did Phathom Pharmaceuticals's revenue grow quarter over quarter in Q3 2026?
Phathom Pharmaceuticals's revenue rose $10.4M (+14%) from $74.3M in Q2 2026 to $84.7M in Q3 2026.