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Side-by-side financial comparison of OLAPLEX HOLDINGS, INC. (OLPX) and Phathom Pharmaceuticals, Inc. (PHAT). Click either name above to swap in a different company.
OLAPLEX HOLDINGS, INC. is the larger business by last-quarter revenue ($105.1M vs $57.6M, roughly 1.8× Phathom Pharmaceuticals, Inc.). On growth, Phathom Pharmaceuticals, Inc. posted the faster year-over-year revenue change (94.1% vs 4.3%). OLAPLEX HOLDINGS, INC. produced more free cash flow last quarter ($32.6M vs $-167.0M).
Olaplex Holdings, Inc. is a specialty beauty company developing and selling patented bond-repair hair care products. It runs three core segments: professional salon distribution, direct-to-consumer sales, and third-party retail, serving customers across North America, Europe, and Asia-Pacific with products that repair and protect damaged hair.
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.
OLPX vs PHAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $105.1M | $57.6M |
| Net Profit | $-13.1M | — |
| Gross Margin | 68.0% | 86.7% |
| Operating Margin | -4.3% | — |
| Net Margin | -12.5% | — |
| Revenue YoY | 4.3% | 94.1% |
| Net Profit YoY | -48.9% | 71.6% |
| EPS (diluted) | $-0.02 | — |
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 | $105.1M | $57.6M | ||
| Q3 25 | $114.6M | $49.5M | ||
| Q2 25 | $106.3M | $39.5M | ||
| Q1 25 | $97.0M | $28.5M | ||
| Q4 24 | $100.7M | $29.7M | ||
| Q3 24 | $119.1M | $16.4M | ||
| Q2 24 | $103.9M | $7.3M | ||
| Q1 24 | $98.9M | — |
| Q4 25 | $-13.1M | — | ||
| Q3 25 | $11.1M | $-30.0M | ||
| Q2 25 | $-7.7M | $-75.8M | ||
| Q1 25 | $465.0K | $-94.3M | ||
| Q4 24 | $-8.8M | — | ||
| Q3 24 | $14.8M | $-85.6M | ||
| Q2 24 | $5.8M | $-91.4M | ||
| Q1 24 | $7.7M | — |
| Q4 25 | 68.0% | 86.7% | ||
| Q3 25 | 69.1% | 87.5% | ||
| Q2 25 | 71.2% | 87.2% | ||
| Q1 25 | 69.5% | 86.9% | ||
| Q4 24 | 66.3% | 87.1% | ||
| Q3 24 | 68.6% | 85.6% | ||
| Q2 24 | 69.7% | 81.2% | ||
| Q1 24 | 72.1% | — |
| Q4 25 | -4.3% | — | ||
| Q3 25 | 3.7% | -30.8% | ||
| Q2 25 | -1.1% | -151.7% | ||
| Q1 25 | 8.7% | -276.5% | ||
| Q4 24 | 3.0% | — | ||
| Q3 24 | 23.5% | -433.0% | ||
| Q2 24 | 15.7% | -1055.4% | ||
| Q1 24 | 19.8% | — |
| Q4 25 | -12.5% | — | ||
| Q3 25 | 9.7% | -60.5% | ||
| Q2 25 | -7.3% | -191.9% | ||
| Q1 25 | 0.5% | -330.7% | ||
| Q4 24 | -8.7% | — | ||
| Q3 24 | 12.4% | -523.3% | ||
| Q2 24 | 5.6% | -1248.6% | ||
| Q1 24 | 7.8% | — |
| Q4 25 | $-0.02 | — | ||
| Q3 25 | $0.02 | $-0.41 | ||
| Q2 25 | $-0.01 | $-1.05 | ||
| Q1 25 | $0.00 | $-1.31 | ||
| Q4 24 | $-0.01 | — | ||
| Q3 24 | $0.02 | $-1.32 | ||
| Q2 24 | $0.01 | $-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 | $318.7M | $130.0M |
| Total DebtLower is stronger | $352.3M | $209.1M |
| Stockholders' EquityBook value | $879.4M | $-438.2M |
| Total Assets | $1.5B | $259.1M |
| Debt / EquityLower = less leverage | 0.40× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $318.7M | $130.0M | ||
| Q3 25 | $286.4M | $135.2M | ||
| Q2 25 | $289.3M | $149.6M | ||
| Q1 25 | $580.9M | $212.3M | ||
| Q4 24 | $586.0M | $297.3M | ||
| Q3 24 | $538.8M | $334.7M | ||
| Q2 24 | $507.9M | $276.2M | ||
| Q1 24 | $507.5M | — |
| Q4 25 | $352.3M | $209.1M | ||
| Q3 25 | $352.1M | $207.1M | ||
| Q2 25 | $351.9M | $205.1M | ||
| Q1 25 | $649.1M | $203.2M | ||
| Q4 24 | $650.5M | $201.4M | ||
| Q3 24 | $651.8M | $175.7M | ||
| Q2 24 | $653.1M | $174.4M | ||
| Q1 24 | $654.4M | — |
| Q4 25 | $879.4M | $-438.2M | ||
| Q3 25 | $888.7M | $-422.5M | ||
| Q2 25 | $874.2M | $-405.8M | ||
| Q1 25 | $878.3M | $-338.4M | ||
| Q4 24 | $874.4M | $-253.6M | ||
| Q3 24 | $879.7M | $-187.1M | ||
| Q2 24 | $863.3M | $-233.8M | ||
| Q1 24 | $855.7M | — |
| Q4 25 | $1.5B | $259.1M | ||
| Q3 25 | $1.5B | $240.3M | ||
| Q2 25 | $1.5B | $250.2M | ||
| Q1 25 | $1.8B | $294.2M | ||
| Q4 24 | $1.8B | $378.3M | ||
| Q3 24 | $1.8B | $387.0M | ||
| Q2 24 | $1.8B | $319.4M | ||
| Q1 24 | $1.8B | — |
| Q4 25 | 0.40× | — | ||
| Q3 25 | 0.40× | — | ||
| Q2 25 | 0.40× | — | ||
| Q1 25 | 0.74× | — | ||
| Q4 24 | 0.74× | — | ||
| Q3 24 | 0.74× | — | ||
| Q2 24 | 0.76× | — | ||
| Q1 24 | 0.76× | — |
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 | $32.7M | $-166.8M |
| Free Cash FlowOCF − Capex | $32.6M | $-167.0M |
| FCF MarginFCF / Revenue | 31.0% | -290.0% |
| Capex IntensityCapex / Revenue | 0.1% | 0.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $58.3M | $-328.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.7M | $-166.8M | ||
| Q3 25 | $8.0M | $-14.1M | ||
| Q2 25 | $20.9M | $-62.7M | ||
| Q1 25 | $-2.9M | $-84.9M | ||
| Q4 24 | $49.7M | $-266.8M | ||
| Q3 24 | $33.5M | $-63.6M | ||
| Q2 24 | $16.2M | $-70.7M | ||
| Q1 24 | $43.7M | — |
| Q4 25 | $32.6M | $-167.0M | ||
| Q3 25 | $7.9M | $-14.1M | ||
| Q2 25 | $20.8M | $-62.8M | ||
| Q1 25 | $-3.0M | $-84.9M | ||
| Q4 24 | $49.2M | $-266.9M | ||
| Q3 24 | $33.3M | $-63.6M | ||
| Q2 24 | $16.1M | $-70.8M | ||
| Q1 24 | $43.3M | — |
| Q4 25 | 31.0% | -290.0% | ||
| Q3 25 | 6.9% | -28.6% | ||
| Q2 25 | 19.6% | -159.0% | ||
| Q1 25 | -3.1% | -297.9% | ||
| Q4 24 | 48.9% | -899.8% | ||
| Q3 24 | 28.0% | -389.0% | ||
| Q2 24 | 15.5% | -966.2% | ||
| Q1 24 | 43.7% | — |
| Q4 25 | 0.1% | 0.4% | ||
| Q3 25 | 0.1% | 0.1% | ||
| Q2 25 | 0.1% | 0.2% | ||
| Q1 25 | 0.0% | 0.1% | ||
| Q4 24 | 0.4% | 0.5% | ||
| Q3 24 | 0.1% | 0.3% | ||
| Q2 24 | 0.1% | 0.6% | ||
| Q1 24 | 0.5% | — |
| Q4 25 | — | — | ||
| Q3 25 | 0.72× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -6.27× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.26× | — | ||
| Q2 24 | 2.81× | — | ||
| Q1 24 | 5.64× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OLPX
| Sales Channel Directly To Consumer | $43.6M | 42% |
| Sales Channel Through Intermediary Professional | $36.8M | 35% |
| Sales Channel Through Intermediary Specialty Retail | $24.7M | 23% |
PHAT
Segment breakdown not available.
