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Side-by-side financial comparison of Phathom Pharmaceuticals, Inc. (PHAT) and READING INTERNATIONAL INC (RDI). Click either name above to swap in a different company.
Phathom Pharmaceuticals, Inc. is the larger business by last-quarter revenue ($57.6M vs $50.3M, roughly 1.1× READING INTERNATIONAL INC). On growth, Phathom Pharmaceuticals, Inc. posted the faster year-over-year revenue change (94.1% vs -14.2%). READING INTERNATIONAL INC produced more free cash flow last quarter ($4.1M vs $-167.0M).
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.
The Reading Company was a Philadelphia-headquartered railroad that provided passenger and freight transport in eastern Pennsylvania and neighboring states from 1924 until its acquisition by Conrail in 1976.
PHAT vs RDI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $57.6M | $50.3M |
| Net Profit | — | $-2.6M |
| Gross Margin | 86.7% | — |
| Operating Margin | — | -1.9% |
| Net Margin | — | -5.1% |
| Revenue YoY | 94.1% | -14.2% |
| Net Profit YoY | 71.6% | -14.5% |
| EPS (diluted) | — | $-0.11 |
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 | $57.6M | $50.3M | ||
| Q3 25 | $49.5M | $52.2M | ||
| Q2 25 | $39.5M | $60.4M | ||
| Q1 25 | $28.5M | $40.2M | ||
| Q4 24 | $29.7M | $58.6M | ||
| Q3 24 | $16.4M | $60.1M | ||
| Q2 24 | $7.3M | $46.8M | ||
| Q1 24 | — | $45.1M |
| Q4 25 | — | $-2.6M | ||
| Q3 25 | $-30.0M | $-4.2M | ||
| Q2 25 | $-75.8M | $-2.7M | ||
| Q1 25 | $-94.3M | $-4.8M | ||
| Q4 24 | — | $-2.2M | ||
| Q3 24 | $-85.6M | $-7.0M | ||
| Q2 24 | $-91.4M | $-12.8M | ||
| Q1 24 | — | $-13.2M |
| 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 24 | — | — |
| Q4 25 | — | -1.9% | ||
| Q3 25 | -30.8% | -0.6% | ||
| Q2 25 | -151.7% | 4.8% | ||
| Q1 25 | -276.5% | -17.2% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | -433.0% | -0.6% | ||
| Q2 24 | -1055.4% | -16.4% | ||
| Q1 24 | — | -16.7% |
| Q4 25 | — | -5.1% | ||
| Q3 25 | -60.5% | -8.0% | ||
| Q2 25 | -191.9% | -4.4% | ||
| Q1 25 | -330.7% | -11.8% | ||
| Q4 24 | — | -3.8% | ||
| Q3 24 | -523.3% | -11.7% | ||
| Q2 24 | -1248.6% | -27.4% | ||
| Q1 24 | — | -29.4% |
| Q4 25 | — | $-0.11 | ||
| Q3 25 | $-0.41 | $-0.18 | ||
| Q2 25 | $-1.05 | $-0.12 | ||
| Q1 25 | $-1.31 | $-0.21 | ||
| Q4 24 | — | $-0.11 | ||
| Q3 24 | $-1.32 | $-0.31 | ||
| Q2 24 | $-1.56 | $-0.57 | ||
| Q1 24 | — | $-0.59 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $130.0M | $10.5M |
| Total DebtLower is stronger | $209.1M | $185.1M |
| Stockholders' EquityBook value | $-438.2M | $-18.2M |
| Total Assets | $259.1M | $434.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $130.0M | $10.5M | ||
| Q3 25 | $135.2M | $8.1M | ||
| Q2 25 | $149.6M | $9.1M | ||
| Q1 25 | $212.3M | $5.9M | ||
| Q4 24 | $297.3M | $12.4M | ||
| Q3 24 | $334.7M | $10.1M | ||
| Q2 24 | $276.2M | $9.3M | ||
| Q1 24 | — | $7.5M |
| Q4 25 | $209.1M | $185.1M | ||
| Q3 25 | $207.1M | — | ||
| Q2 25 | $205.1M | — | ||
| Q1 25 | $203.2M | — | ||
| Q4 24 | $201.4M | $202.7M | ||
| Q3 24 | $175.7M | — | ||
| Q2 24 | $174.4M | — | ||
| Q1 24 | — | — |
| Q4 25 | $-438.2M | $-18.2M | ||
| Q3 25 | $-422.5M | $-12.1M | ||
| Q2 25 | $-405.8M | $-7.7M | ||
| Q1 25 | $-338.4M | $-8.1M | ||
| Q4 24 | $-253.6M | $-4.4M | ||
| Q3 24 | $-187.1M | $1.6M | ||
| Q2 24 | $-233.8M | $6.5M | ||
| Q1 24 | — | $18.0M |
| Q4 25 | $259.1M | $434.9M | ||
| Q3 25 | $240.3M | $435.2M | ||
| Q2 25 | $250.2M | $438.1M | ||
| Q1 25 | $294.2M | $441.0M | ||
| Q4 24 | $378.3M | $471.0M | ||
| Q3 24 | $387.0M | $495.7M | ||
| Q2 24 | $319.4M | $494.9M | ||
| Q1 24 | — | $494.9M |
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 | $4.3M |
| Free Cash FlowOCF − Capex | $-167.0M | $4.1M |
| FCF MarginFCF / Revenue | -290.0% | 8.2% |
| Capex IntensityCapex / Revenue | 0.4% | 0.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-328.9M | $-2.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-166.8M | $4.3M | ||
| Q3 25 | $-14.1M | $295.0K | ||
| Q2 25 | $-62.7M | $1.6M | ||
| Q1 25 | $-84.9M | $-7.7M | ||
| Q4 24 | $-266.8M | $8.0M | ||
| Q3 24 | $-63.6M | $1.3M | ||
| Q2 24 | $-70.7M | $-10.4M | ||
| Q1 24 | — | $-2.8M |
| Q4 25 | $-167.0M | $4.1M | ||
| Q3 25 | $-14.1M | $-246.0K | ||
| Q2 25 | $-62.8M | $1.2M | ||
| Q1 25 | $-84.9M | $-8.0M | ||
| Q4 24 | $-266.9M | $7.0M | ||
| Q3 24 | $-63.6M | $-1.1M | ||
| Q2 24 | $-70.8M | $-10.6M | ||
| Q1 24 | — | $-4.7M |
| Q4 25 | -290.0% | 8.2% | ||
| Q3 25 | -28.6% | -0.5% | ||
| Q2 25 | -159.0% | 1.9% | ||
| Q1 25 | -297.9% | -19.8% | ||
| Q4 24 | -899.8% | 12.0% | ||
| Q3 24 | -389.0% | -1.8% | ||
| Q2 24 | -966.2% | -22.7% | ||
| Q1 24 | — | -10.4% |
| Q4 25 | 0.4% | 0.3% | ||
| Q3 25 | 0.1% | 1.0% | ||
| Q2 25 | 0.2% | 0.6% | ||
| Q1 25 | 0.1% | 0.6% | ||
| Q4 24 | 0.5% | 1.7% | ||
| Q3 24 | 0.3% | 4.0% | ||
| Q2 24 | 0.6% | 0.5% | ||
| Q1 24 | — | 4.3% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PHAT
Segment breakdown not available.
RDI
| Cinema Exhibition Segment | $46.9M | 93% |
| Real Estate Revenue | $3.4M | 7% |
