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Side-by-side financial comparison of AMERISAFE INC (AMSF) and Phathom Pharmaceuticals, Inc. (PHAT). Click either name above to swap in a different company.
AMERISAFE INC is the larger business by last-quarter revenue ($80.1M vs $57.6M, roughly 1.4× Phathom Pharmaceuticals, Inc.). On growth, Phathom Pharmaceuticals, Inc. posted the faster year-over-year revenue change (94.1% vs 10.3%).
AMERISAFE Inc. is a specialty insurance provider that focuses exclusively on workers' compensation coverage for small and mid-sized businesses in high-hazard industries including construction, logging, trucking, and manufacturing. It operates across 49 U.S. states, offering tailored insurance policies paired with targeted risk management support for clients.
Phathom Pharmaceuticals is a clinical-stage biopharmaceutical firm focused on developing and commercializing innovative therapies for gastrointestinal diseases. Its lead product candidates address acid-related disorders, inflammatory bowel disease, and other GI conditions, serving patients mainly across North America and Europe.
AMSF vs PHAT — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $80.1M | $57.6M |
| Net Profit | $8.1M | — |
| Gross Margin | — | 86.7% |
| Operating Margin | — | — |
| Net Margin | 10.2% | — |
| Revenue YoY | 10.3% | 94.1% |
| Net Profit YoY | -9.0% | 71.6% |
| EPS (diluted) | $0.43 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $80.1M | — | ||
| Q4 25 | $81.6M | $57.6M | ||
| Q3 25 | $82.0M | $49.5M | ||
| Q2 25 | $81.1M | $39.5M | ||
| Q1 25 | $72.6M | $28.5M | ||
| Q4 24 | $74.0M | $29.7M | ||
| Q3 24 | $78.7M | $16.4M | ||
| Q2 24 | $75.8M | $7.3M |
| Q1 26 | $8.1M | — | ||
| Q4 25 | $10.4M | — | ||
| Q3 25 | $13.8M | $-30.0M | ||
| Q2 25 | $14.0M | $-75.8M | ||
| Q1 25 | $8.9M | $-94.3M | ||
| Q4 24 | $13.2M | — | ||
| Q3 24 | $14.3M | $-85.6M | ||
| Q2 24 | $11.0M | $-91.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 86.7% | ||
| Q3 25 | — | 87.5% | ||
| Q2 25 | — | 87.2% | ||
| Q1 25 | — | 86.9% | ||
| Q4 24 | — | 87.1% | ||
| Q3 24 | — | 85.6% | ||
| Q2 24 | — | 81.2% |
| Q1 26 | — | — | ||
| Q4 25 | 15.6% | — | ||
| Q3 25 | 21.3% | -30.8% | ||
| Q2 25 | 21.5% | -151.7% | ||
| Q1 25 | 15.5% | -276.5% | ||
| Q4 24 | 22.7% | — | ||
| Q3 24 | 22.6% | -433.0% | ||
| Q2 24 | 18.1% | -1055.4% |
| Q1 26 | 10.2% | — | ||
| Q4 25 | 12.8% | — | ||
| Q3 25 | 16.9% | -60.5% | ||
| Q2 25 | 17.2% | -191.9% | ||
| Q1 25 | 12.3% | -330.7% | ||
| Q4 24 | 17.8% | — | ||
| Q3 24 | 18.2% | -523.3% | ||
| Q2 24 | 14.5% | -1248.6% |
| Q1 26 | $0.43 | — | ||
| Q4 25 | $0.55 | — | ||
| Q3 25 | $0.72 | $-0.41 | ||
| Q2 25 | $0.73 | $-1.05 | ||
| Q1 25 | $0.47 | $-1.31 | ||
| Q4 24 | $0.69 | — | ||
| Q3 24 | $0.75 | $-1.32 | ||
| Q2 24 | $0.57 | $-1.56 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $34.2M | $130.0M |
| Total DebtLower is stronger | — | $209.1M |
| Stockholders' EquityBook value | $246.6M | $-438.2M |
| Total Assets | — | $259.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $34.2M | — | ||
| Q4 25 | $61.9M | $130.0M | ||
| Q3 25 | $54.7M | $135.2M | ||
| Q2 25 | $48.5M | $149.6M | ||
| Q1 25 | $44.8M | $212.3M | ||
| Q4 24 | $44.1M | $297.3M | ||
| Q3 24 | $63.7M | $334.7M | ||
| Q2 24 | $30.6M | $276.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $209.1M | ||
| Q3 25 | — | $207.1M | ||
| Q2 25 | — | $205.1M | ||
| Q1 25 | — | $203.2M | ||
| Q4 24 | — | $201.4M | ||
| Q3 24 | — | $175.7M | ||
| Q2 24 | — | $174.4M |
| Q1 26 | $246.6M | — | ||
| Q4 25 | $251.6M | $-438.2M | ||
| Q3 25 | $274.8M | $-422.5M | ||
| Q2 25 | $265.6M | $-405.8M | ||
| Q1 25 | $260.8M | $-338.4M | ||
| Q4 24 | $257.3M | $-253.6M | ||
| Q3 24 | $314.4M | $-187.1M | ||
| Q2 24 | $301.0M | $-233.8M |
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $259.1M | ||
| Q3 25 | $1.2B | $240.3M | ||
| Q2 25 | $1.2B | $250.2M | ||
| Q1 25 | $1.2B | $294.2M | ||
| Q4 24 | $1.2B | $378.3M | ||
| Q3 24 | $1.3B | $387.0M | ||
| Q2 24 | $1.2B | $319.4M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $-166.8M |
| Free Cash FlowOCF − Capex | — | $-167.0M |
| FCF MarginFCF / Revenue | — | -290.0% |
| Capex IntensityCapex / Revenue | — | 0.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-328.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $11.1M | $-166.8M | ||
| Q3 25 | $10.7M | $-14.1M | ||
| Q2 25 | $-8.4M | $-62.7M | ||
| Q1 25 | $-1.8M | $-84.9M | ||
| Q4 24 | $24.2M | $-266.8M | ||
| Q3 24 | $8.4M | $-63.6M | ||
| Q2 24 | $-2.6M | $-70.7M |
| Q1 26 | — | — | ||
| Q4 25 | $8.9M | $-167.0M | ||
| Q3 25 | $9.8M | $-14.1M | ||
| Q2 25 | $-9.5M | $-62.8M | ||
| Q1 25 | $-1.8M | $-84.9M | ||
| Q4 24 | $23.4M | $-266.9M | ||
| Q3 24 | $8.4M | $-63.6M | ||
| Q2 24 | $-2.6M | $-70.8M |
| Q1 26 | — | — | ||
| Q4 25 | 10.9% | -290.0% | ||
| Q3 25 | 11.9% | -28.6% | ||
| Q2 25 | -11.7% | -159.0% | ||
| Q1 25 | -2.5% | -297.9% | ||
| Q4 24 | 31.5% | -899.8% | ||
| Q3 24 | 10.7% | -389.0% | ||
| Q2 24 | -3.5% | -966.2% |
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 0.4% | ||
| Q3 25 | 1.1% | 0.1% | ||
| Q2 25 | 1.3% | 0.2% | ||
| Q1 25 | 0.0% | 0.1% | ||
| Q4 24 | 1.1% | 0.5% | ||
| Q3 24 | 0.0% | 0.3% | ||
| Q2 24 | 0.1% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.06× | — | ||
| Q3 25 | 0.77× | — | ||
| Q2 25 | -0.61× | — | ||
| Q1 25 | -0.20× | — | ||
| Q4 24 | 1.83× | — | ||
| Q3 24 | 0.59× | — | ||
| Q2 24 | -0.24× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
