Phathom Pharmaceuticals, Inc.
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-17.6M | $-30.4M | $-21.1M | $-30.0M | $-75.8M | $-94.3M | $-74.5M | $-85.6M |
| Depreciation & Amortization | $114.0K | $110.0K | $128.0K | $156.0K | $172.0K | $177.0K | $181.0K | $200.0K |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $6.7M | $5.5M | $5.6M | $9.3M | $8.3M | $5.5M | $6.7M | $5.6M |
| Net Cash from Operating Activities | $-1.9M | $-15.6M | $-5.0M | $-14.1M | $-62.7M | $-84.9M | $-63.5M | $-63.6M |
| Investing Activities | ||||||||
| Capital Expenditures | $44.0K | $61.0K | $87.0K | $27.0K | $97.0K | $18.0K | $5.0K | $44.0K |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-44.0K | $-61.0K | $-87.0K | $-27.0K | $-97.0K | $-18.0K | $-5.0K | $-44.0K |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $3.6M | $66.6M | $-97.0K | $-271.0K | $80.0K | $0 | $26.0M | $122.1M |
| Net Change in Cash | $1.6M | $50.9M | $-5.2M | $-14.4M | $-62.7M | $-84.9M | $-37.4M | $58.4M |
| Free Cash Flow | $-2.0M | $-15.7M | $-5.1M | $-14.1M | $-62.8M | $-84.9M | $-63.5M | $-63.6M |