vs
Side-by-side financial comparison of Orion Properties Inc. (ONL) 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 $36.3M, roughly 1.6× Orion Properties Inc.). On growth, Phathom Pharmaceuticals, Inc. posted the faster year-over-year revenue change (94.1% vs -4.6%).
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.
ONL vs PHAT — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $36.3M | $57.6M |
| Net Profit | $-13.6M | — |
| Gross Margin | — | 86.7% |
| Operating Margin | -9.3% | — |
| Net Margin | -37.4% | — |
| Revenue YoY | -4.6% | 94.1% |
| Net Profit YoY | -45.0% | 71.6% |
| EPS (diluted) | $-0.24 | — |
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 | $36.3M | — | ||
| Q4 25 | $35.2M | $57.6M | ||
| Q3 25 | $37.1M | $49.5M | ||
| Q2 25 | $37.3M | $39.5M | ||
| Q1 25 | $38.0M | $28.5M | ||
| Q4 24 | $38.4M | $29.7M | ||
| Q3 24 | $39.2M | $16.4M | ||
| Q2 24 | $40.1M | $7.3M |
| Q1 26 | $-13.6M | — | ||
| Q4 25 | $-35.8M | — | ||
| Q3 25 | $-69.0M | $-30.0M | ||
| Q2 25 | $-25.1M | $-75.8M | ||
| Q1 25 | $-9.4M | $-94.3M | ||
| Q4 24 | $-32.8M | — | ||
| Q3 24 | $-10.2M | $-85.6M | ||
| Q2 24 | $-33.8M | $-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 | -9.3% | — | ||
| Q4 25 | -101.5% | — | ||
| Q3 25 | -185.8% | -30.8% | ||
| Q2 25 | -67.1% | -151.7% | ||
| Q1 25 | -24.4% | -276.5% | ||
| Q4 24 | -85.4% | — | ||
| Q3 24 | -25.9% | -433.0% | ||
| Q2 24 | -84.1% | -1055.4% |
| Q1 26 | -37.4% | — | ||
| Q4 25 | -101.7% | — | ||
| Q3 25 | -186.0% | -60.5% | ||
| Q2 25 | -67.3% | -191.9% | ||
| Q1 25 | -24.6% | -330.7% | ||
| Q4 24 | -85.4% | — | ||
| Q3 24 | -26.1% | -523.3% | ||
| Q2 24 | -84.2% | -1248.6% |
| Q1 26 | $-0.24 | — | ||
| Q4 25 | $-0.63 | — | ||
| Q3 25 | $-1.23 | $-0.41 | ||
| Q2 25 | $-0.45 | $-1.05 | ||
| Q1 25 | $-0.17 | $-1.31 | ||
| Q4 24 | $-0.59 | — | ||
| Q3 24 | $-0.18 | $-1.32 | ||
| Q2 24 | $-0.60 | $-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 | $10.3M | $130.0M |
| Total DebtLower is stronger | — | $209.1M |
| Stockholders' EquityBook value | $608.5M | $-438.2M |
| Total Assets | $1.2B | $259.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $10.3M | — | ||
| Q4 25 | $22.4M | $130.0M | ||
| Q3 25 | $32.6M | $135.2M | ||
| Q2 25 | $17.4M | $149.6M | ||
| Q1 25 | $9.4M | $212.3M | ||
| Q4 24 | $15.6M | $297.3M | ||
| Q3 24 | $16.6M | $334.7M | ||
| Q2 24 | $24.2M | $276.2M |
| Q1 26 | — | — | ||
| Q4 25 | $465.0M | $209.1M | ||
| Q3 25 | $483.0M | $207.1M | ||
| Q2 25 | $483.0M | $205.1M | ||
| Q1 25 | $505.0M | $203.2M | ||
| Q4 24 | $492.0M | $201.4M | ||
| Q3 24 | $485.0M | $175.7M | ||
| Q2 24 | $462.0M | $174.4M |
| Q1 26 | $608.5M | — | ||
| Q4 25 | $623.2M | $-438.2M | ||
| Q3 25 | $658.8M | $-422.5M | ||
| Q2 25 | $728.0M | $-405.8M | ||
| Q1 25 | $753.5M | $-338.4M | ||
| Q4 24 | $763.9M | $-253.6M | ||
| Q3 24 | $800.9M | $-187.1M | ||
| Q2 24 | $816.1M | $-233.8M |
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.2B | $259.1M | ||
| Q3 25 | $1.2B | $240.3M | ||
| Q2 25 | $1.3B | $250.2M | ||
| Q1 25 | $1.3B | $294.2M | ||
| Q4 24 | $1.3B | $378.3M | ||
| Q3 24 | $1.4B | $387.0M | ||
| Q2 24 | $1.3B | $319.4M |
| Q1 26 | — | — | ||
| Q4 25 | 0.75× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.66× | — | ||
| Q1 25 | 0.67× | — | ||
| Q4 24 | 0.64× | — | ||
| Q3 24 | 0.61× | — | ||
| Q2 24 | 0.57× | — |
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 | 51.4% | 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 | $23.6M | $-166.8M | ||
| Q3 25 | $5.7M | $-14.1M | ||
| Q2 25 | $11.6M | $-62.7M | ||
| Q1 25 | $-2.2M | $-84.9M | ||
| Q4 24 | $54.3M | $-266.8M | ||
| Q3 24 | $13.8M | $-63.6M | ||
| Q2 24 | $17.0M | $-70.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-167.0M | ||
| Q3 25 | — | $-14.1M | ||
| Q2 25 | — | $-62.8M | ||
| Q1 25 | — | $-84.9M | ||
| Q4 24 | — | $-266.9M | ||
| Q3 24 | — | $-63.6M | ||
| Q2 24 | — | $-70.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | -290.0% | ||
| Q3 25 | — | -28.6% | ||
| Q2 25 | — | -159.0% | ||
| Q1 25 | — | -297.9% | ||
| Q4 24 | — | -899.8% | ||
| Q3 24 | — | -389.0% | ||
| Q2 24 | — | -966.2% |
| Q1 26 | 51.4% | — | ||
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 0.6% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ONL
| Rental | $36.1M | 100% |
| Fee income from unconsolidated joint venture | $137.0K | 0% |
PHAT
Segment breakdown not available.
