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Side-by-side financial comparison of Phathom Pharmaceuticals, Inc. (PHAT) and SolarMax Technology, Inc. (SMXT). Click either name above to swap in a different company.
Phathom Pharmaceuticals, Inc. is the larger business by last-quarter revenue ($57.6M vs $46.6M, roughly 1.2× SolarMax Technology, Inc.). On growth, SolarMax Technology, Inc. posted the faster year-over-year revenue change (623.5% vs 94.1%).
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.
SolarMax Technology, Inc. develops, manufactures and sells high-efficiency solar PV modules and clean energy systems. It serves residential, commercial and industrial clients in North America and key Asia-Pacific markets, offering installation and after-sales support to boost low-carbon energy use.
PHAT vs SMXT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $57.6M | $46.6M |
| Net Profit | — | $-872.2K |
| Gross Margin | 86.7% | 2.7% |
| Operating Margin | — | -2.7% |
| Net Margin | — | -1.9% |
| Revenue YoY | 94.1% | 623.5% |
| Net Profit YoY | 71.6% | 77.7% |
| 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 | $57.6M | $46.6M | ||
| Q3 25 | $49.5M | $30.6M | ||
| Q2 25 | $39.5M | $6.9M | ||
| Q1 25 | $28.5M | $6.9M | ||
| Q4 24 | $29.7M | $6.4M | ||
| Q3 24 | $16.4M | $6.3M | ||
| Q2 24 | $7.3M | — |
| Q4 25 | — | $-872.2K | ||
| Q3 25 | $-30.0M | $-2.3M | ||
| Q2 25 | $-75.8M | $-1.9M | ||
| Q1 25 | $-94.3M | $-1.3M | ||
| Q4 24 | — | $-3.9M | ||
| Q3 24 | $-85.6M | $-9.6M | ||
| Q2 24 | $-91.4M | — |
| Q4 25 | 86.7% | 2.7% | ||
| Q3 25 | 87.5% | 3.1% | ||
| Q2 25 | 87.2% | 8.8% | ||
| Q1 25 | 86.9% | 20.5% | ||
| Q4 24 | 87.1% | 14.5% | ||
| Q3 24 | 85.6% | 19.9% | ||
| Q2 24 | 81.2% | — |
| Q4 25 | — | -2.7% | ||
| Q3 25 | -30.8% | -6.9% | ||
| Q2 25 | -151.7% | -25.7% | ||
| Q1 25 | -276.5% | -16.7% | ||
| Q4 24 | — | -27.9% | ||
| Q3 24 | -433.0% | -158.4% | ||
| Q2 24 | -1055.4% | — |
| Q4 25 | — | -1.9% | ||
| Q3 25 | -60.5% | -7.4% | ||
| Q2 25 | -191.9% | -27.6% | ||
| Q1 25 | -330.7% | -18.7% | ||
| Q4 24 | — | -60.6% | ||
| Q3 24 | -523.3% | -152.0% | ||
| Q2 24 | -1248.6% | — |
| Q4 25 | — | $-0.02 | ||
| Q3 25 | $-0.41 | $-0.04 | ||
| Q2 25 | $-1.05 | $-0.04 | ||
| Q1 25 | $-1.31 | $-0.03 | ||
| Q4 24 | — | $-0.07 | ||
| Q3 24 | $-1.32 | $-0.21 | ||
| Q2 24 | $-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 | $130.0M | $8.0M |
| Total DebtLower is stronger | $209.1M | — |
| Stockholders' EquityBook value | $-438.2M | $-12.2M |
| Total Assets | $259.1M | $91.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $130.0M | $8.0M | ||
| Q3 25 | $135.2M | $5.7M | ||
| Q2 25 | $149.6M | $1.9M | ||
| Q1 25 | $212.3M | $6.8M | ||
| Q4 24 | $297.3M | $7.1M | ||
| Q3 24 | $334.7M | $8.6M | ||
| Q2 24 | $276.2M | — |
| 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 | — |
| Q4 25 | $-438.2M | $-12.2M | ||
| Q3 25 | $-422.5M | $-11.8M | ||
| Q2 25 | $-405.8M | $-15.1M | ||
| Q1 25 | $-338.4M | $-15.9M | ||
| Q4 24 | $-253.6M | $-15.1M | ||
| Q3 24 | $-187.1M | $-10.9M | ||
| Q2 24 | $-233.8M | — |
| Q4 25 | $259.1M | $91.3M | ||
| Q3 25 | $240.3M | $58.7M | ||
| Q2 25 | $250.2M | $38.2M | ||
| Q1 25 | $294.2M | $38.6M | ||
| Q4 24 | $378.3M | $38.6M | ||
| Q3 24 | $387.0M | $43.0M | ||
| Q2 24 | $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 | $-2.5M |
| 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.
| Q4 25 | $-166.8M | $-2.5M | ||
| Q3 25 | $-14.1M | $3.4M | ||
| Q2 25 | $-62.7M | $220.7K | ||
| Q1 25 | $-84.9M | $-601.1K | ||
| Q4 24 | $-266.8M | $-1.3M | ||
| Q3 24 | $-63.6M | $203.6K | ||
| Q2 24 | $-70.7M | — |
| 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 | — |
| 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% | — |
| Q4 25 | 0.4% | — | ||
| Q3 25 | 0.1% | — | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 0.3% | 0.0% | ||
| Q2 24 | 0.6% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PHAT
Segment breakdown not available.
SMXT
| Yabucoa | $35.9M | 77% |
| Other | $10.7M | 23% |
