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Side-by-side financial comparison of Phathom Pharmaceuticals, Inc. (PHAT) and Twin Hospitality Group Inc. (TWNP). Click either name above to swap in a different company.
Twin Hospitality Group Inc. is the larger business by last-quarter revenue ($82.3M vs $57.6M, roughly 1.4× Phathom Pharmaceuticals, Inc.). Twin Hospitality Group Inc. produced more free cash flow last quarter ($-7.4M 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.
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
PHAT vs TWNP — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $57.6M | $82.3M |
| Net Profit | — | $-24.5M |
| Gross Margin | 86.7% | — |
| Operating Margin | — | -16.2% |
| Net Margin | — | -29.7% |
| Revenue YoY | 94.1% | — |
| Net Profit YoY | 71.6% | — |
| EPS (diluted) | — | $-0.43 |
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 | — | ||
| Q3 25 | $49.5M | $82.3M | ||
| Q2 25 | $39.5M | $87.8M | ||
| Q1 25 | $28.5M | $87.1M | ||
| Q4 24 | $29.7M | — | ||
| Q3 24 | $16.4M | — | ||
| Q2 24 | $7.3M | — |
| Q4 25 | — | — | ||
| Q3 25 | $-30.0M | $-24.5M | ||
| Q2 25 | $-75.8M | $-20.8M | ||
| Q1 25 | $-94.3M | $-12.1M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-85.6M | — | ||
| Q2 24 | $-91.4M | — |
| 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% | — |
| Q4 25 | — | — | ||
| Q3 25 | -30.8% | -16.2% | ||
| Q2 25 | -151.7% | -13.2% | ||
| Q1 25 | -276.5% | -1.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | -433.0% | — | ||
| Q2 24 | -1055.4% | — |
| Q4 25 | — | — | ||
| Q3 25 | -60.5% | -29.7% | ||
| Q2 25 | -191.9% | -23.7% | ||
| Q1 25 | -330.7% | -13.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | -523.3% | — | ||
| Q2 24 | -1248.6% | — |
| Q4 25 | — | — | ||
| Q3 25 | $-0.41 | $-0.43 | ||
| Q2 25 | $-1.05 | $-0.38 | ||
| Q1 25 | $-1.31 | $-0.26 | ||
| Q4 24 | — | — | ||
| Q3 24 | $-1.32 | — | ||
| 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 | — |
| Total DebtLower is stronger | $209.1M | $402.8M |
| Stockholders' EquityBook value | $-438.2M | $-92.1M |
| Total Assets | $259.1M | $516.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $130.0M | — | ||
| Q3 25 | $135.2M | — | ||
| Q2 25 | $149.6M | — | ||
| Q1 25 | $212.3M | — | ||
| Q4 24 | $297.3M | — | ||
| Q3 24 | $334.7M | — | ||
| Q2 24 | $276.2M | — |
| Q4 25 | $209.1M | — | ||
| Q3 25 | $207.1M | $402.8M | ||
| Q2 25 | $205.1M | $411.3M | ||
| Q1 25 | $203.2M | $413.0M | ||
| Q4 24 | $201.4M | — | ||
| Q3 24 | $175.7M | — | ||
| Q2 24 | $174.4M | — |
| Q4 25 | $-438.2M | — | ||
| Q3 25 | $-422.5M | $-92.1M | ||
| Q2 25 | $-405.8M | $-78.6M | ||
| Q1 25 | $-338.4M | $-101.9M | ||
| Q4 24 | $-253.6M | — | ||
| Q3 24 | $-187.1M | — | ||
| Q2 24 | $-233.8M | — |
| Q4 25 | $259.1M | — | ||
| Q3 25 | $240.3M | $516.8M | ||
| Q2 25 | $250.2M | $535.1M | ||
| Q1 25 | $294.2M | $544.2M | ||
| Q4 24 | $378.3M | — | ||
| Q3 24 | $387.0M | — | ||
| 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 | $-5.9M |
| Free Cash FlowOCF − Capex | $-167.0M | $-7.4M |
| FCF MarginFCF / Revenue | -290.0% | -9.0% |
| Capex IntensityCapex / Revenue | 0.4% | 1.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-328.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-166.8M | — | ||
| Q3 25 | $-14.1M | $-5.9M | ||
| Q2 25 | $-62.7M | $-8.8M | ||
| Q1 25 | $-84.9M | $-5.7M | ||
| Q4 24 | $-266.8M | — | ||
| Q3 24 | $-63.6M | — | ||
| Q2 24 | $-70.7M | — |
| Q4 25 | $-167.0M | — | ||
| Q3 25 | $-14.1M | $-7.4M | ||
| Q2 25 | $-62.8M | $-10.6M | ||
| Q1 25 | $-84.9M | $-9.7M | ||
| Q4 24 | $-266.9M | — | ||
| Q3 24 | $-63.6M | — | ||
| Q2 24 | $-70.8M | — |
| Q4 25 | -290.0% | — | ||
| Q3 25 | -28.6% | -9.0% | ||
| Q2 25 | -159.0% | -12.1% | ||
| Q1 25 | -297.9% | -11.2% | ||
| Q4 24 | -899.8% | — | ||
| Q3 24 | -389.0% | — | ||
| Q2 24 | -966.2% | — |
| Q4 25 | 0.4% | — | ||
| Q3 25 | 0.1% | 1.9% | ||
| Q2 25 | 0.2% | 2.1% | ||
| Q1 25 | 0.1% | 4.6% | ||
| 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.
