Phathom Pharmaceuticals

Q2 FY2026 EarningsQ2 FY2026 results exceeded expectations, with net revenue reaching $74.3M vs. $72.7M consensus (+2.2%) and a significantly narrower GAAP EPS loss of -$0.21 vs. -$0.26 expected. The company achieved a critical milestone by delivering positive non-GAAP operating profitability for the first time, supported by a 33% YoY reduction in operating expenses. However, full-year FY2026 revenue guidance was revised downward to $310M–$325M from the previous $320M–$345M, signaling a potentially more cautious second-half growth outlook despite strong current momentum in VOQUEZNA prescriptions.