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Side-by-side financial comparison of WM TECHNOLOGY, INC. (MAPS) and Phathom Pharmaceuticals, Inc. (PHAT). Click either name above to swap in a different company.
Phathom Pharmaceuticals, Inc. is the larger business by last-quarter revenue ($57.6M vs $43.1M, roughly 1.3× WM TECHNOLOGY, INC.). On growth, Phathom Pharmaceuticals, Inc. posted the faster year-over-year revenue change (94.1% vs -9.7%). WM TECHNOLOGY, INC. produced more free cash flow last quarter ($-280.0K vs $-167.0M).
WM Entertainment is a South Korean entertainment company established in 2008 by former singer Lee Won-min. The company is responsible for managing artist Oh My Girl. On April 7, 2021, the company was acquired by RBW.
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.
MAPS vs PHAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.1M | $57.6M |
| Net Profit | $-3.6M | — |
| Gross Margin | 94.9% | 86.7% |
| Operating Margin | -13.5% | — |
| Net Margin | -8.3% | — |
| Revenue YoY | -9.7% | 94.1% |
| Net Profit YoY | -251.9% | 71.6% |
| EPS (diluted) | — | — |
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.
| Q4 25 | $43.1M | $57.6M | ||
| Q3 25 | $42.2M | $49.5M | ||
| Q2 25 | $44.8M | $39.5M | ||
| Q1 25 | $44.6M | $28.5M | ||
| Q4 24 | $47.7M | $29.7M | ||
| Q3 24 | $46.6M | $16.4M | ||
| Q2 24 | $45.9M | $7.3M | ||
| Q1 24 | $44.4M | — |
| Q4 25 | $-3.6M | — | ||
| Q3 25 | $2.5M | $-30.0M | ||
| Q2 25 | $1.4M | $-75.8M | ||
| Q1 25 | $1.6M | $-94.3M | ||
| Q4 24 | $2.4M | — | ||
| Q3 24 | $3.3M | $-85.6M | ||
| Q2 24 | $716.0K | $-91.4M | ||
| Q1 24 | $1.2M | — |
| Q4 25 | 94.9% | 86.7% | ||
| Q3 25 | 95.0% | 87.5% | ||
| Q2 25 | 94.9% | 87.2% | ||
| Q1 25 | 95.0% | 86.9% | ||
| Q4 24 | 95.2% | 87.1% | ||
| Q3 24 | 95.3% | 85.6% | ||
| Q2 24 | 95.1% | 81.2% | ||
| Q1 24 | 94.8% | — |
| Q4 25 | -13.5% | — | ||
| Q3 25 | 4.6% | -30.8% | ||
| Q2 25 | 4.4% | -151.7% | ||
| Q1 25 | 5.9% | -276.5% | ||
| Q4 24 | 9.6% | — | ||
| Q3 24 | 11.2% | -433.0% | ||
| Q2 24 | 2.7% | -1055.4% | ||
| Q1 24 | 8.5% | — |
| Q4 25 | -8.3% | — | ||
| Q3 25 | 5.8% | -60.5% | ||
| Q2 25 | 3.2% | -191.9% | ||
| Q1 25 | 3.7% | -330.7% | ||
| Q4 24 | 4.9% | — | ||
| Q3 24 | 7.2% | -523.3% | ||
| Q2 24 | 1.6% | -1248.6% | ||
| Q1 24 | 2.8% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $-0.41 | ||
| Q2 25 | — | $-1.05 | ||
| Q1 25 | $0.02 | $-1.31 | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-1.32 | ||
| Q2 24 | — | $-1.56 | ||
| Q1 24 | $0.01 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $62.4M | $130.0M |
| Total DebtLower is stronger | — | $209.1M |
| Stockholders' EquityBook value | $57.2M | $-438.2M |
| Total Assets | $190.7M | $259.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $62.4M | $130.0M | ||
| Q3 25 | — | $135.2M | ||
| Q2 25 | — | $149.6M | ||
| Q1 25 | — | $212.3M | ||
| Q4 24 | $52.0M | $297.3M | ||
| Q3 24 | — | $334.7M | ||
| Q2 24 | — | $276.2M | ||
| Q1 24 | — | — |
| 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 24 | — | — |
| Q4 25 | $57.2M | $-438.2M | ||
| Q3 25 | $56.9M | $-422.5M | ||
| Q2 25 | $52.7M | $-405.8M | ||
| Q1 25 | $48.5M | $-338.4M | ||
| Q4 24 | $36.1M | $-253.6M | ||
| Q3 24 | $29.5M | $-187.1M | ||
| Q2 24 | $24.5M | $-233.8M | ||
| Q1 24 | $20.8M | — |
| Q4 25 | $190.7M | $259.1M | ||
| Q3 25 | $192.9M | $240.3M | ||
| Q2 25 | $188.1M | $250.2M | ||
| Q1 25 | $183.8M | $294.2M | ||
| Q4 24 | $181.9M | $378.3M | ||
| Q3 24 | $173.6M | $387.0M | ||
| Q2 24 | $168.0M | $319.4M | ||
| Q1 24 | $165.8M | — |
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 | $3.0M | $-166.8M |
| Free Cash FlowOCF − Capex | $-280.0K | $-167.0M |
| FCF MarginFCF / Revenue | -0.7% | -290.0% |
| Capex IntensityCapex / Revenue | 7.7% | 0.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $13.5M | $-328.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.0M | $-166.8M | ||
| Q3 25 | $6.4M | $-14.1M | ||
| Q2 25 | $11.1M | $-62.7M | ||
| Q1 25 | $5.7M | $-84.9M | ||
| Q4 24 | $9.4M | $-266.8M | ||
| Q3 24 | $7.2M | $-63.6M | ||
| Q2 24 | $12.7M | $-70.7M | ||
| Q1 24 | $7.4M | — |
| Q4 25 | $-280.0K | $-167.0M | ||
| Q3 25 | $3.6M | $-14.1M | ||
| Q2 25 | $8.2M | $-62.8M | ||
| Q1 25 | $2.0M | $-84.9M | ||
| Q4 24 | $7.3M | $-266.9M | ||
| Q3 24 | $4.9M | $-63.6M | ||
| Q2 24 | $10.1M | $-70.8M | ||
| Q1 24 | $2.9M | — |
| Q4 25 | -0.7% | -290.0% | ||
| Q3 25 | 8.4% | -28.6% | ||
| Q2 25 | 18.3% | -159.0% | ||
| Q1 25 | 4.5% | -297.9% | ||
| Q4 24 | 15.2% | -899.8% | ||
| Q3 24 | 10.4% | -389.0% | ||
| Q2 24 | 21.9% | -966.2% | ||
| Q1 24 | 6.4% | — |
| Q4 25 | 7.7% | 0.4% | ||
| Q3 25 | 6.8% | 0.1% | ||
| Q2 25 | 6.3% | 0.2% | ||
| Q1 25 | 8.2% | 0.1% | ||
| Q4 24 | 4.5% | 0.5% | ||
| Q3 24 | 5.1% | 0.3% | ||
| Q2 24 | 5.7% | 0.6% | ||
| Q1 24 | 10.2% | — |
| Q4 25 | — | — | ||
| Q3 25 | 2.61× | — | ||
| Q2 25 | 7.75× | — | ||
| Q1 25 | 3.44× | — | ||
| Q4 24 | 4.00× | — | ||
| Q3 24 | 2.17× | — | ||
| Q2 24 | 17.67× | — | ||
| Q1 24 | 5.97× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MAPS
| Services | $39.5M | 92% |
| Other | $3.6M | 8% |
PHAT
Segment breakdown not available.
