NASDAQ$PHAT
Phathom Pharmaceuticals Inc · Q1 2025 earnings
Q1 2025 earnings · · Before market open · Investor relations
Briefing
Phathom reported Q1 2025 product revenue of $28.5M with a net loss of $94.3M and diluted EPS of $(1.31).
Product revenue, net, grew to $28.5 million on VOQUEZNA uptake versus $1.9 million a year ago. The net loss was $94.3 million, or $1.31 per diluted share, as SG&A and interest on the revenue-interest financing agreement remained elevated during the launch ramp.
- Q1 product revenue $28.5M (+1,400% YoY on launch).
- Net loss $94.3M; diluted EPS $(1.31).
- VOQUEZNA TRIPLE PAK and DUAL PAK drove the revenue ramp.
- Revenue-interest royalty and term loan interest weigh on net income.
Headline financials
Revenue & EPS history
Phathom · Revenue · Quarterly
$28.5M
Forward guidance
Phathom discusses VOQUEZNA launch metrics and access; profitability depends on scaling product revenue against royalty and debt service on the revenue-interest agreement.
Tailwinds
- VOQUEZNA revenue ramp from GERD indications.
- Expanded payer coverage and physician adoption.
- Cash runway supports commercial build-out.
Headwinds
- 10% royalty on net sales under revenue-interest financing.
- High SG&A during launch phase.
- Interest expense on term loan and RIF liability.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2025
-2.2%
Avg return
Earnings day
-5.3%
Avg return
5 days after
-0.4%
Avg return
30 days after
42%
11 / 26 earnings
Positive
+10.0%
Q1 2023
Best reaction
-22.8%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.9% | +6.9% | -18.6% | |
| Q4 2025 | +9.9% | -10.3% | -14.1% | |
| Q3 2025 | -1.8% | +8.1% | +9.8% | |
| Q1 2025 | -21.7% | -44.1% | -0.9% | |
| Q4 2024 | -3.0% | -21.2% | -19.7% | |
| Q3 2024 | -6.3% | -47.1% | -50.0% | |
| Q2 2024 | +8.7% | +12.6% | +63.9% | |
| Q1 2024 | -5.6% | +2.9% | +5.0% | |
| Q4 2023 | -8.7% | -16.0% | +13.4% | |
| Q3 2023 | -4.0% | -9.2% | +7.8% | |
| Q2 2023 | +3.0% | +2.0% | -15.8% | |
| Q1 2023 | +10.0% | +5.0% | +8.3% | |
| Q4 2022 | -7.1% | -10.0% | -29.9% | |
| Q3 2022 | -9.8% | +4.0% | +5.3% | |
| Q2 2022 | -22.8% | -20.1% | -3.6% | |
| Q1 2022 | -6.3% | -10.5% | -19.7% | |
| Q4 2021 | +2.0% | -4.2% | -24.9% | |
| Q3 2021 | +1.7% | -2.4% | -13.7% | |
| Q2 2021 | +1.5% | -0.1% | +6.6% | |
| Q1 2021 | +6.4% | +0.9% | +5.9% | |
| Q4 2020 | +3.6% | +1.9% | +9.8% | |
| Q3 2020 | -8.6% | -3.0% | +12.6% | |
| Q2 2020 | +5.1% | +12.2% | +5.3% | |
| Q1 2020 | -0.9% | -1.4% | +24.1% | |
| Q4 2019 | -3.2% | -3.2% | +13.5% | |
| Q3 2019 | +6.5% | +9.1% | +9.0% | |
| Q1 2019 | — | — | — | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — |
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