PHAT Hisse Senedi Özeti Fiyat, piyasa değeri, P/E, EPS, ROE, borç/öz sermaye, 52 haftalık aralık

03

Fiyat $6.92

Piyasa Değeri (MRQ) $554M

P/E (TTM) -5.5

Hisse Başına Kâr (TTM) $-1.25

Gelir (TTM) $240M

ROE (TTM) 26.4%

D/E Borç/Özsermaye (MRQ) -0.5

52 Haftlık Aralık $7–$18

PHAT Hisse Senedi Fiyat Grafiği Teknik göstergeler ile günlük OHLCV — kaydır, yakınlaştır ve görünümünüzü özelleştirin

04

aralık

çubuklar

Çubuk çözünürlüğü seçilen döneme uyum sağlar — bir çubuk için açılış/yüksek/düşük/kapanış değerlerini görmek için grafiğin üzerine gelin.

10 Yıllık Performans Gelir, net kar, marjlar ve EPS trendleri

06

Gelir$175M

2022-12-31 → 2025-12-31

Hisse Başına Kâr$-3.03

2021-12-31 → 2025-12-31

Serbest Nakit Akışı$-167M

2019-12-31 → 2025-12-31

Net kar marjı-41.3%

2023-12-31 → 2025-12-31

Değerleme ve Oranlar 07–12

Değerleme P/E, P/S, P/B, EV/EBITDA oranları — hisse senedi pahalı mı ucuz mu?

Metrik	PHAT	5Y ort.	Akran Ortalaması	Sonuç
P/E (TTM)	-5.55Y ort. ≈-3.3	≈-3.3	·	·
F/S (TTM)	2.35Y ort. ≈263.8	≈263.8	2.7	Daha pahalı
F/D (MRQ)	-1.65Y ort. ≈-1.9	≈-1.9	·	·
EV / EBITDA	-3.95Y ort. ≈-3.4	≈-3.4	·	·
Fiyat / Serbest Nakit Akışı (TTM)	-15.05Y ort. ≈-4.0	≈-4.0	·	·
Fiyat / Nakit Akışı (TTM)	-15.15Y ort. ≈-4.0	≈-4.0	·	·
EV / Revenue (EV / Gelir)	3.65Y ort. ≈144.3	≈144.3	·	·
EV / FCF	-3.85Y ort. ≈-3.4	≈-3.4	·	·

Akran ortalaması, metrik başına standartlaştırılmış bir temelde hesaplanır ve bu hisse senedi için gösterilen TTM/MRQ temelini her zaman eşleşmeyebilir.

Kârlılık Brüt, faaliyet ve net kâr marjları; ROE, ROA, ROIC

Metrik	PHAT	5Y ort.	Akran Ortalaması	Sonuç
Brüt Kar Marjı (TTM)	82.9%5Y ort. ≈82.7%	≈82.7%	71.8%	En üst düzey
Faaliyet Kâr Marjı (TTM)	-17.0%5Y ort. ≈-8375.4%	≈-8375.4%	-1.8%	Ortalamanın altında
FAVÖK Marjı (TTM)	-16.7%5Y ort. ≈-8346.7%	≈-8346.7%	1.8%	Zayıf
Pretax Margin (Vergi Öncesi Kar Marjı)	-126.4%	·	-6.8%	Zayıf
Net Kâr Marjı (TTM)	-41.3%5Y ort. ≈-10096.8%	≈-10096.8%	-7.5%	Zayıf
ROA (TTM)	-34.3%5Y ort. ≈-78.9%	≈-78.9%	-15.7%	Zayıf
ROE (TTM)	26.4%5Y ort. ≈175.3%	≈175.3%	52.3%	Aynı seviyede
ROIC	69.8%	·	40.3%	En üst düzey

Finansal Sağlık Borç, likidite, solventlik — bilanço gücü

Metrik	PHAT	5Y ort.	Akran Ortalaması	Sonuç
Borç / Öz Sermaye (MRQ)	-0.55Y ort. ≈-0.6	≈-0.6	0.0	Düşük borç
Cari Oran (MRQ)	1.95Y ort. ≈6.4	≈6.4	3.0	Düşük likidite
Quick Ratio (Cari Oran)	1.65Y ort. ≈6.2	≈6.2	2.0	Aynı seviyede
Uzun Vadeli Borç / Özkaynak (MRQ)	-0.55Y ort. ≈-0.6	≈-0.6	0.0	Düşük borç

Büyüme Gelir, EPS ve net gelir büyümesi: YOY, 3 Yıllık CAGR, 5 Yıllık CAGR

Metrik	5 Yıllık trend	PHAT	5Y ort.	Akran Ortalaması	Sonuç
Revenue YoY (Gelir Yıllık Bazda)		216.9%	·	·	·

Hisse Başı Metrikler Hisse Başı Kâr, hisse başına defter değeri, hisse başına nakit akışı, hisse başına temettü

Metrik	PHAT	5Y ort.	Akran Ortalaması	Sonuç
EPS (Diluted) (Hisse Başına Kar (Seyreltilmiş))	$-3.035Y ort. ≈$-4.24	≈$-4.24	·	·
Revenue / Share (Hisse Başına Gelir)	$2.405Y ort. ≈$1.10	≈$1.10	·	·
Cash Flow / Share (Hisse Başına Nakit Akışı)	$-2.295Y ort. ≈$-3.23	≈$-3.23	·	·
Cash / Share (Hisse Başına Nakit)	$1.825Y ort. ≈$4.66	≈$4.66	·	·

Sermaye Verimliliği Aktif devir hızı, stok devir hızı, alacak devir hızı

Metrik	PHAT	5Y ort.	Akran Ortalaması	Sonuç
Asset Turnover (Aktif Devir Hızı)	0.55Y ort. ≈0.2	≈0.2	0.5	En üst düzey
Inventory Turnover (Stok Devir Hızı)	5.25Y ort. ≈3.0	≈3.0	3.0	En üst düzey
Receivables Turnover (Alacak Devir Hızı)	3.05Y ort. ≈2.2	≈2.2	3.5	Zayıf
Revenue / Employee (Çalışan Başına Gelir)	≈$472.0K	·	·	·

değer · ≈ 5Y ort. · sektör ortalaması · ortalamaya göre değerlendirme

Kazanç Geçmişi EPS gerçekleşen vs tahmin, sürpriz %, kazanma oranı, bir sonraki kazanç tarihi

14

Ort. Sürpriz 7.7%

Sonraki Rapor Eki 28, 2026

Dönem	Rapor	EPS Gerçek	EPS Tahmin	Sürpriz
30 Haziran 2026	Ağu 5, 2026	$-0.21	$-0.26	18.1%
31 Mart 2026	May 12, 2026	$-0.37	$-0.33	-12.6%
31 Aralık 2025		$-0.29	$-0.39	25.5%
30 Eylül 2025		$-0.41	$-0.56	26.2%
30 Haziran 2025		$-1.05	$-1.06	1.0%
31 Mart 2025		$-1.31	$-1.17	-12.0%

Tüm Temeller Tüm metrikler yıla göre — gelir tablosu, bilanço, nakit akışı

15

Gelir Tablosu 18

Metrik	2025	2024	2023	2022
Revenue	$175M	$55M	$682.0K	$0
Cost of Revenue	$23M	$8M	$167.0K	$0
Gross Profit	$153M	$47M	$515.0K	$0
R&D Expense	$33M	$34M	$50M	$71M
SG&A Expense	$280M	$291M	$118M	$101M
Operating Expenses	$312M	$325M	$168M	$172M
Operating Income	$-160M	$-277M	$-167M	$-172M
Interest Expense	·	·	$42M	$27M
Interest Income	$7M	$15M	$8M	$2M
Other Non-op	$-190.0K	$-8.0K	$-188.0K	$-110.0K
Pretax Income	$-221M	$-334M	·	·
Income Tax	$0	$0	$0	$0
Net Income	$-221M	$-334M	$-202M	$-198M
EPS (Basic)	$-3.03	$-5.29	$-3.93	$-5.05
EPS (Diluted)	$-3.03	$-5.29	$-3.93	$-5.05
Shares (Basic)	72,918,764	63,176,210	51,289,092	39,118,215
Shares (Diluted)	72,918,764	63,176,210	51,289,092	39,118,215
EBITDA	$-159M	$-277M	$-167M	$-172M

Bilanço 24

Metrik	2025	2024	2023	2022
Cash & Equivalents	$130M	$297M	$381M	$155M
Receivables	$78M	$39M	$2M	$0
Inventory	$6M	$3M	$1M	$0
Prepaid Expense	$15M	$21M	$13M	$5M
Current Assets	$229M	$360M	$397M	$161M
PP&E (Net)	$1M	$1M	$2M	$1M
PP&E (Gross)	$5M	$4M	$4M	$3M
Accum. Depreciation	$3M	$3M	$2M	$1M
Other Non-current Assets	$3M	$2M	$2M	$299.0K
Total Assets	$259M	$378M	$414M	$165M
Accounts Payable	$5M	$11M	$13M	$10M
Accrued Liabilities	$90M	$53M	$17M	$15M
Current Liabilities	$132M	$86M	$39M	$26M
Capital Leases	$2M	·	$462.0K	$1M
Other Non-current Liabilities	$4M	$12M	$10M	$8M
Total Liabilities	$697M	$632M	$487M	$240M
Long-term Debt	$209M	$201M	$138M	$95M
Total Debt	$209M	$201M	$138M	$95M
Common Stock	$6.0K	$6.0K	$5.0K	$3.0K
Retained Earnings	$-1.48B	$-1.26B	$-929M	$-727M
Treasury Stock	$0	$0	$0	$0
Stockholders' Equity	$-438M	$-254M	$-73M	$-75M
Liabilities + Equity	$259M	$378M	$414M	$165M
Shares Outstanding	71,419,025	68,518,238	57,970,044	41,468,871

Nakit Akışı 12

Metrik	2025	2024	2023	2022
D&A	$633.0K	$795.0K	$575.0K	$620.0K
Stock-based Comp	$29M	$24M	$45M	$24M
Other Non-cash	$25M	$43M	$18M	$26M
Operating Cash Flow	$-167M	$-267M	$-138M	$-147M
CapEx	$229.0K	$135.0K	$2M	$1M
Investing Cash Flow	$-229.0K	$-135.0K	$-2M	$-1M
Debt Issued	$0	$59M	$39M	$0
Net Debt Issued	$0	$59M	$39M	·
Stock Issued	·	·	$14M	·
Financing Cash Flow	$-288.0K	$183M	$368M	$120M
Net Change in Cash	$-167M	$-84M	$228M	$-28M
Free Cash Flow	$-167M	$-267M	$-139M	$-148M

Kârlılık 8

Metrik	2025	2024	2023	2022
Gross Margin	87.1%	85.6%	75.5%	·
Operating Margin	-91.4%	-502.2%	-24532.5%	·
Net Margin	-126.4%	-605.1%	-29558.9%	·
Pretax Margin	-126.4%	·	·	·
EBITDA Margin	-91.0%	-500.8%	-24448.2%	·
ROA	-69.4%	-84.4%	-69.7%	-111.6%
ROE	52.4%	151.7%	445.4%	390.6%
ROIC	69.8%	·	·	·

Likidite ve Solventlik 5

Metrik	2025	2024	2023	2022
Current Ratio	1.7	4.2	10.2	6.1
Quick Ratio	1.6	3.9	9.9	5.9
Debt / Equity	-0.5	-0.8	-1.9	-1.3
LT Debt / Equity	-0.5	-0.8	-1.9	-1.3
Interest Coverage	·	·	-4.0	-6.3

Verimlilik 3

Metrik	2025	2024	2023	2022
Asset Turnover	0.5	0.1	0.0	·
Inventory Turnover	5.2	3.6	0.3	·
Receivables Turnover	3.0	2.7	0.8	·

Hisse Başına 5

Metrik	2025	2024	2023	2022
Book Value / Share	$-6.14	$-4.37	$-1.26	$-1.80
Revenue / Share	$2.40	$0.87	$0.01	·
Cash Flow / Share	$-2.29	$-4.22	$-2.68	$-3.75
Cash / Share	$1.82	$5.13	$6.58	$3.75
EPS (TTM)	$-3.03	$-5.29	$-3.93	$-5.05

Büyüme Oranları 1

Metrik	Eğilim	2025	2024	2023	2022
Revenue YoY		216.9%	8001.5%	·	·

Değerleme (TTM) 13

Metrik	2025	2024	2023	2022
Revenue TTM	$175M	$55M	$682.0K	$0
Net Income TTM	$-221M	$-334M	$-202M	$-198M
Market Cap	$1.18B	$471M	$529M	$465M
Enterprise Value	$1.26B	$375M	$286M	$405M
P/E	-5.5	-1.5	-2.3	-2.2
P/S	6.8	8.5	776.1	·
P/B	-2.7	-1.9	-7.3	-6.2
P / Cash Flow	-7.1	-1.8	-3.8	-3.2
P / FCF	-7.1	-1.8	-3.8	-3.2
EV / EBITDA	-7.9	-1.4	-1.7	-2.4
EV / FCF	-7.6	-1.4	-2.1	-2.7
EV / Revenue	7.2	6.8	418.9	·
Earnings Yield	-18.3%	-65.1%	-43.0%	-45.0%

Gelir Tablosu 16

Metrik	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Revenue	$74M	$58M	$58M	$50M	$40M	$29M	$30M	$16M	$7M	$2M	$682.0K	$0	$0	$0
Cost of Revenue	$15M	$12M	$8M	$6M	$5M	$4M	$4M	$2M	$1M	$426.0K	$167.0K	$0	$0	$0
Gross Profit	$59M	$46M	$50M	$43M	$34M	$25M	$26M	$14M	$6M	$1M	$515.0K	$0	$0	$0
R&D Expense	$8M	$8M	$7M	$7M	$9M	$9M	$9M	$9M	$7M	$9M	$13M	$12M	$13M	$11M
SG&A Expense	$55M	$54M	$48M	$52M	$85M	$94M	$77M	$76M	$76M	$62M	$57M	$23M	$19M	$19M
Operating Expenses	$63M	$62M	$56M	$59M	$94M	$104M	$85M	$85M	$83M	$71M	$70M	$36M	$32M	$30M
Operating Income	$-4M	$-15M	$-6M	$-15M	$-60M	$-79M	$-59M	$-71M	$-77M	$-70M	$-70M	$-36M	$-32M	$-30M
Interest Expense	·	·	·	·	·	·	·	·	$18M	$17M	·	$10M	$10M	$9M
Interest Income	$2M	$2M	$1M	$1M	$2M	$3M	$4M	$4M	$4M	$4M	$3M	$3M	$348.0K	$1M
Other Non-op	$-24.0K	$-831.0K	$-6.0K	$-7.0K	$-155.0K	$-22.0K	$49.0K	$-8.0K	$-6.0K	$-43.0K	$-14.0K	$-197.0K	$3.0K	$20.0K
Net Income	$-18M	$-30M	$-21M	$-30M	$-76M	$-94M	$-74M	$-86M	$-91M	$-83M	$-80M	$-43M	$-41M	$-38M
EPS (Basic)	$-0.21	$-0.37	$-0.26	$-0.41	$-1.05	$-1.31	$-0.99	$-1.32	$-1.56	$-1.42	$-1.44	$-0.76	$-0.84	$-0.89
EPS (Diluted)	$-0.21	$-0.37	$-0.26	$-0.41	$-1.05	$-1.31	$-0.99	$-1.32	$-1.56	$-1.42	$-1.44	$-0.76	$-0.84	$-0.89
Shares (Basic)	83,747,104	82,050,618	·	73,396,435	72,466,203	71,969,411	·	64,627,847	58,558,145	58,371,480	·	56,782,379	48,500,516	42,354,520
Shares (Diluted)	83,747,104	82,050,618	·	73,396,435	72,466,203	71,969,411	·	64,627,847	58,558,145	58,371,480	·	56,782,379	48,500,516	42,354,520
EBITDA	$-4M	$-15M	·	$-15M	$-60M	$-79M	·	$-71M	$-77M	$-70M	·	$-36M	$-32M	$-30M

Bilanço 24

Metrik	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Cash & Equivalents	$182M	$181M	$130M	$135M	$150M	$212M	$297M	$335M	$276M	$322M	$381M	$214M	$249M	$130M
Receivables	$97M	$81M	$78M	$56M	$51M	$36M	$39M	$21M	$11M	$4M	$2M	·	·	·
Inventory	$8M	$7M	$6M	$4M	$3M	$3M	$3M	$3M	$2M	$1M	$1M	$111.0K	$111.0K	·
Prepaid Expense	$8M	$8M	$15M	$13M	$15M	$13M	$21M	$15M	$15M	$13M	$13M	$13M	$9M	$10M
Current Assets	$296M	$277M	$229M	$208M	$219M	$265M	$360M	$374M	$305M	$340M	$397M	$227M	$258M	$140M
PP&E (Net)	$971.0K	$1M	$1M	$1M	$1M	$1M	$1M	$2M	$2M	$2M	$2M	$2M	$1M	$1M
PP&E (Gross)	·	·	$5M	·	·	·	$4M	$4M	$4M	$4M	$4M	$4M	$3M	$3M
Accum. Depreciation	·	·	$3M	·	·	·	$3M	$3M	$2M	$2M	$2M	$2M	$2M	$2M
Other Non-current Assets	$3M	$3M	$3M	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$4M	$4M	$299.0K
Total Assets	$327M	$305M	$259M	$240M	$250M	$294M	$378M	$387M	$319M	$356M	$414M	$237M	$265M	$144M
Accounts Payable	$5M	$6M	$5M	$1M	$4M	$12M	$11M	$7M	$8M	$8M	$13M	$6M	$4M	$5M
Accrued Liabilities	$109M	$83M	$90M	$65M	$64M	$43M	$53M	$36M	$27M	$17M	$17M	$13M	$15M	$8M
Current Liabilities	$154M	$125M	$132M	$93M	$92M	$74M	$86M	$65M	$47M	$43M	$39M	$24M	$22M	$14M
Capital Leases	$2M	$2M	$2M	$2M	$589.0K	$0	·	$0	$133.0K	$292.0K	$462.0K	$628.0K	$789.0K	$945.0K
Other Non-current Liabilities	$4M	$4M	$4M	$12M	$12M	$12M	$12M	$11M	$10M	$10M	$10M	$8M	$8M	$8M
Total Liabilities	$671M	$642M	$697M	$663M	$656M	$633M	$632M	$574M	$553M	$505M	$487M	$255M	$247M	$234M
Long-term Debt	$165M	$164M	$209M	$207M	$205M	$203M	$201M	$176M	$174M	$149M	$138M	$99M	$98M	$97M
Total Debt	$165M	$164M	·	$207M	$205M	$203M	·	$176M	$174M	$149M	·	$99M	$98M	$97M
Common Stock	$8.0K	$7.0K	$6.0K	$6.0K	$6.0K	$6.0K	$6.0K	$6.0K	$5.0K	$5.0K	$5.0K	$5.0K	$5.0K	$4.0K
Retained Earnings	$-1.53B	$-1.51B	$-1.48B	$-1.46B	$-1.43B	$-1.36B	$-1.26B	$-1.19B	$-1.10B	$-1.01B	$-929M	$-849M	$-806M	$-765M
Treasury Stock	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Stockholders' Equity	$-344M	$-337M	$-438M	$-423M	$-406M	$-338M	$-254M	$-187M	$-234M	$-149M	$-73M	$-18M	$18M	$-90M
Liabilities + Equity	$327M	$305M	$259M	$240M	$250M	$294M	$378M	$387M	$319M	$356M	$414M	$237M	$265M	$144M
Shares Outstanding	80,070,048	79,442,367	71,419,025	71,043,149	70,104,419	69,638,070	68,518,238	68,323,938	58,601,025	58,524,101	57,970,044	56,809,085	56,639,085	43,571,140

Nakit Akışı 12

Metrik	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
D&A	$114.0K	$110.0K	$128.0K	$156.0K	$172.0K	$177.0K	$193.0K	$191.0K	$197.0K	$214.0K	$185.0K	$121.0K	$123.0K	$146.0K
Stock-based Comp	$7M	$6M	$6M	$9M	$8M	$6M	$7M	$6M	$6M	$6M	$25M	$6M	$7M	$7M
Other Non-cash	·	$9M	·	·	·	$4M	·	·	·	$8M	·	·	·	$-9M
Operating Cash Flow	$-2M	$-16M	$-5M	$-14M	$-63M	$-85M	$-63M	$-64M	$-71M	$-69M	$-44M	$-32M	$-22M	$-40M
CapEx	$44.0K	$61.0K	$87.0K	$27.0K	$97.0K	$18.0K	$5.0K	$44.0K	$46.0K	$40.0K	$475.0K	$939.0K	$6.0K	$214.0K
Investing Cash Flow	$-44.0K	$-61.0K	$-87.0K	$-27.0K	$-97.0K	$-18.0K	$-5.0K	$-44.0K	$-46.0K	$-40.0K	$-475.0K	$-939.0K	$-6.0K	$-214.0K
Debt Issued	$0	$173M	$0	$0	$0	$0	$25M	$0	$25M	$10M	$39M	$0	$0	$0
Net Debt Issued	·	$-56M	·	·	·	$0	·	·	·	$10M	·	·	·	·
Stock Issued	·	·	·	·	·	·	·	·	·	·	$0	$0	·	·
Financing Cash Flow	$4M	$67M	$-97.0K	$-271.0K	$80.0K	$0	$26M	$122M	$25M	$10M	$212M	$13.0K	$142M	$14M
Net Change in Cash	$2M	$51M	$-5M	$-14M	$-63M	$-85M	$-37M	$58M	$-46M	$-59M	$168M	$-33M	$119M	$-26M
Free Cash Flow	·	$-16M	·	·	·	$-85M	·	·	·	$-69M	·	·	·	$-40M

Kârlılık 6

Metrik	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Gross Margin	79.7%	79.4%	·	87.5%	87.2%	86.9%	·	85.6%	81.2%	77.7%	·	·	·	·
Operating Margin	-5.3%	-26.6%	·	-30.9%	-151.7%	-276.5%	·	-433.0%	-1055.4%	-3658.7%	·	·	·	·
Net Margin	-23.7%	-52.1%	·	-60.6%	-191.9%	-330.7%	·	-523.3%	-1248.6%	-4333.3%	·	·	·	·
EBITDA Margin	-5.3%	-26.4%	·	-30.9%	-151.7%	-275.9%	·	-433.0%	-1055.4%	-3647.5%	·	·	·	·
ROA	-6.1%	-10.1%	·	-9.6%	-26.6%	-29.0%	·	-27.4%	-31.3%	-33.1%	·	-19.7%	-17.1%	-25.8%
ROE	4.7%	9.0%	·	9.8%	23.7%	38.7%	·	83.5%	84.6%	69.4%	·	195.7%	-772.9%	145.0%

Likidite ve Solventlik 5

Metrik	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Current Ratio	1.9	2.2	·	2.2	2.4	3.6	·	5.7	6.5	7.8	·	9.5	12.0	9.7
Quick Ratio	1.8	2.1	·	2.1	2.2	3.4	·	5.4	6.1	7.5	·	8.9	11.6	9.0
Debt / Equity	-0.5	-0.5	·	-0.5	-0.5	-0.6	·	-0.9	-0.7	-1.0	·	-5.6	5.6	-1.1
LT Debt / Equity	-0.5	-0.5	·	-0.5	-0.5	-0.6	·	-0.9	-0.7	-1.0	·	-5.6	5.6	-1.1
Interest Coverage	·	·	·	·	·	·	·	·	-4.4	-4.1	·	-3.5	-3.3	-3.3

Verimlilik 3

Metrik	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Asset Turnover	0.3	0.2	·	0.2	0.1	0.1	·	0.1	0.0	0.0	·	·	·	·
Inventory Turnover	2.7	2.5	·	1.8	1.8	1.6	·	1.5	1.2	0.6	·	·	·	·
Receivables Turnover	1.0	1.0	·	1.3	1.3	1.4	·	1.6	1.3	1.0	·	·	·	·

Hisse Başına 5

Metrik	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Book Value / Share	$-4.30	$-4.24	·	$-5.95	$-5.79	$-4.86	·	$-2.74	$-3.99	$-2.54	·	$-0.31	$0.31	$-2.07
Revenue / Share	$0.89	$0.71	·	$0.67	$0.55	$0.40	·	$0.25	$0.13	$0.03	·	·	·	·
Cash Flow / Share	·	$-0.19	·	·	·	$-1.18	·	·	·	$-1.18	·	·	·	$-0.94
Cash / Share	$2.28	$2.28	·	$1.90	$2.13	$3.05	·	$4.90	$4.71	$5.51	·	$3.76	$4.39	$2.97
EPS (TTM)	$-1.25	$-2.09	·	$-3.76	$-4.67	$-5.18	·	$-5.74	$-5.18	$-4.46	·	$-3.82	$-4.38	$-4.87

Değerleme (TTM) 11

Metrik	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Revenue TTM	$240M	$205M	·	$147M	$114M	$82M	·	$26M	$10M	$3M	·	·	·	·
Net Income TTM	$-99M	$-157M	·	$-275M	$-330M	$-346M	·	$-339M	$-297M	$-247M	·	$-177M	$-185M	$-195M
Market Cap	$869M	$883M	·	$836M	$672M	$437M	·	$1.24B	$604M	$622M	·	$589M	$811M	$311M
Enterprise Value	$851M	$865M	·	$908M	$728M	$428M	·	$1.08B	$502M	$448M	·	$475M	$660M	$278M
P/E	-8.7	-5.3	·	-3.1	-2.1	-1.2	·	-3.1	-2.0	-2.4	·	-2.7	-3.3	-1.5
P/S	3.6	4.3	·	5.7	5.9	5.3	·	47.0	60.9	239.6	·	·	·	·
P/B	-2.5	-2.6	·	-2.0	-1.7	-1.3	·	-6.6	-2.6	-4.2	·	-33.1	46.1	-3.4
P / Tangible Book	·	·	·	·	·	·	·	·	·	·	·	·	46.1	·
P / Cash Flow	·	-56.4	·	·	·	-5.1	·	·	·	-9.0	·	·	·	-7.8
EV / Revenue	3.6	4.2	·	6.2	6.4	5.2	·	41.0	50.6	172.8	·	·	·	·
Earnings Yield	-11.5%	-18.8%	·	-31.9%	-48.7%	-82.6%	·	-31.8%	-50.3%	-42.0%	·	-36.8%	-30.6%	-68.2%

En son dönem solda · null değerler · olarak gösterilir

Finansal Tablolar Gelir tablosu, bilanço, nakit akışı — yıllık, son 5 yıl

16

Metrik	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Gelir	$175M	$55M	$682.0K	$0	·
Brüt Kâr Marjı %	87.1%	85.6%	75.5%	·	·
Faaliyet Kâr Marjı %	-91.4%	-502.2%	-24532.5%	·	·
Net Gelir	$-221M	$-334M	$-202M	$-198M	$-144M
Seyreltilmiş Hisse Başı Kâr	$-3.03	$-5.29	$-3.93	$-5.05	$-3.89

Metrik	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Borç / Öz Sermaye	-0.5	-0.8	-1.9	-1.3	1.2
Cari Oran	1.7	4.2	10.2	6.1	9.9
Cari Oran	1.6	3.9	9.9	5.9	9.7

Metrik	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Serbest Nakit Akışı	$-167M	$-267M	$-139M	$-148M	$-149M

Kurumsal Sahipler (13F) 176 dosya · $818.8M toplam · Tarih itibarıyla 30 Haziran 2026

17

Çeyreklik SEC Form 13F'lerinde bu hisse senedini tuttuklarını bildiren kurumlar. Yalnızca uzun pozisyonlar; tek bir başvuru sahibi, ayrı opsiyon bacakları için iki kez görünebilir. Büyük dengeleyici alım/satım bacakları genellikle piyasa yapımını veya korunmuş envanteri yansıtır, yönlü bir inancı değil.

Sahipler 176

Tutulan Değer $818.8M

Yeni pozisyonlar 26

Çıkan pozisyonlar 31

Kurumsal faaliyet — Q2 2026 ve önceki çeyrek

Yeni pozisyonlar	Çıkan pozisyonlar	Artırıldı	Azaldı	Net hisse senedi değişimi
26 (-13 önceki Ç'ye göre)	31 (-4 önceki Ç'ye göre)	59 (-16 önceki Ç'ye göre)	52 (+12 önceki Ç'ye göre)	+5.7M

Q1 2026 ile karşılaştırıldı. SEC Form 13F başvuruları, çeyrek sonundan itibaren 45 gün içinde ve geç başvuranlar için kısa bir ek süre içinde tamamlanmalıdır — bu pencere içindeki çeyrekler, en son tam olarak raporlanan çifte tercih edilerek atlanır.

Kurum	Değer	Hisse senetleri	% izlenen 13F'nin	Tür
Frazier Life Sciences Management, L.P.	$135.261.406	12.466.489	16,52%	Hisse senetleri
Medicxi Ventures Management (Jersey) Ltd	$80.990.606	7.464.572	9,89%	Hisse senetleri
VANGUARD GROUP INC	$52.709.931	3.177.211	6,44%	Hisse senetleri
BlackRock, Inc.	$49.097.648	4.525.129	6,00%	Hisse senetleri
Invesco Ltd.	$43.722.581	4.029.731	5,34%	Hisse senetleri
Carlyle Group Inc.	$37.940.367	3.496.808	4,63%	Hisse senetleri
MILLENNIUM MANAGEMENT LLC	$36.627.799	3.375.834	4,47%	Hisse senetleri
VANGUARD CAPITAL MANAGEMENT LLC	$28.827.842	2.656.944	3,52%	Hisse senetleri
FRANKLIN RESOURCES INC	$21.383.482	1.970.828	2,61%	Hisse senetleri
NEA Management Company, LLC	$21.267.834	1.960.169	2,60%	Hisse senetleri
683 Capital Management, LLC	$20.072.501	1.850.000	2,45%	Hisse senetleri
GOLDMAN SACHS GROUP INC	$19.291.647	1.778.032	2,36%	Hisse senetleri
STATE STREET CORP	$17.211.605	1.586.323	2,10%	Hisse senetleri
Catalys Pacific, LLC	$16.208.316	1.493.854	1,98%	Hisse senetleri
NOMURA ASSET MANAGEMENT INTERNATIONAL INC.	$15.871.000	1.462.738	1,94%	Hisse senetleri
WASATCH ADVISORS LP	$14.897.577	1.340.916	1,82%	Hisse senetleri
GEODE CAPITAL MANAGEMENT, LLC	$14.277.589	1.315.687	1,74%	Hisse senetleri
Ensign Peak Advisors, Inc	$11.413.256	1.051.913	1,39%	Hisse senetleri
Propel Bio Management, LLC	$11.396.384	1.050.358	1,39%	Hisse senetleri
Point72 Asset Management, L.P.	$11.090.794	1.022.193	1,35%	Hisse senetleri
VANGUARD PORTFOLIO MANAGEMENT LLC	$8.643.446	796.631	1,06%	Hisse senetleri
SummitTX Capital, L.P.	$8.566.618	789.550	1,05%	Hisse senetleri
HSBC HOLDINGS PLC	$7.701.936	709.695	0,94%	Hisse senetleri
MARSHALL WACE, LLP	$7.227.078	666.090	0,88%	Hisse senetleri
EcoR1 Capital, LLC	$6.781.250	625.000	0,83%	Hisse senetleri
PERCEPTIVE ADVISORS LLC	$5.772.200	532.000	0,70%	Hisse senetleri
TWO SIGMA INVESTMENTS, LP	$5.631.975	519.076	0,69%	Hisse senetleri
CITADEL ADVISORS LLC	$5.216.680	480.800	0,64%	Alım opsiyonu
NORTHERN TRUST CORP	$4.972.565	458.301	0,61%	Hisse senetleri
StepStone Group LP	$4.689.364	422.085	0,57%	Hisse senetleri
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	$4.547.170	419.094	0,56%	Hisse senetleri
Woodline Partners LP	$4.004.214	369.052	0,49%	Hisse senetleri
VANGUARD FIDUCIARY TRUST CO	$3.847.117	354.573	0,47%	Hisse senetleri
AMERIPRISE FINANCIAL INC	$3.189.673	293.979	0,39%	Hisse senetleri
JPMORGAN CHASE & CO	$2.991.978	275.251	0,37%	Hisse senetleri
Simplify Asset Management Inc.	$2.704.547	249.267	0,33%	Hisse senetleri
RENAISSANCE TECHNOLOGIES LLC	$2.456.440	226.400	0,30%	Hisse senetleri
JANE STREET GROUP, LLC	$2.307.860	212.706	0,28%	Hisse senetleri
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$2.281.755	210.300	0,28%	Alım opsiyonu
UBS Group AG	$2.219.618	204.573	0,27%	Hisse senetleri
NewEdge Advisors, LLC	$2.212.988	203.962	0,27%	Hisse senetleri
Avidity Partners Management LP	$2.170.000	200.000	0,27%	Hisse senetleri
MORGAN STANLEY	$2.169.013	199.909	0,26%	Hisse senetleri
Jump Financial, LLC	$2.081.746	191.866	0,25%	Hisse senetleri
Opaleye Management Inc.	$2.013.641	185.589	0,25%	Hisse senetleri
CITADEL ADVISORS LLC	$2.006.176	184.901	0,25%	Hisse senetleri
Trexquant Investment LP	$1.886.641	173.884	0,23%	Hisse senetleri
Jones Hill Capital LP	$1.752.123	161.486	0,21%	Hisse senetleri
Bank of New York Mellon Corp	$1.652.595	152.313	0,20%	Hisse senetleri
WELLS FARGO & COMPANY/MN	$1.649.221	152.002	0,20%	Hisse senetleri

Tüm 176 kurumsal sahibi göster →

Aktivistler ve %5+ sahipler 5 pozisyon

18

SEC Çizelge 13D dosyalayan yatırımcılar — ihraççı üzerinde nüfuz etme niyetiyle %5'in üzerinde faydalı sahiplik (aktivist hisseler, yönetim kurulu kampanyaları, M&A). Her satır, o başvuru sahibinin pozisyonunun bilinen en son durumunu gösterir.

Başvuru sahibi	Dosyalandı	Hisse	Durum	Amaç	Başvuru
Frazier Life Sciences Public Fund, L.P., FHMLSP, L.P., FHMLSP, L.L.C., Frazier Life Sciences X, L.P., FHMLS X, L.P., FHMLS X, L.L.C., Frazier Life Sciences XI, L.P., FHMLS XI, L.P., FHMLS XI, L.L.C., Frazier Life Sciences IX, L.P., FHMLS IX, L.P., FHMLS IX, L.L.C., Frazier Life Sciences XII, L.P., FHMLS XII, L.P., FHMLS XII, L.L.C., James N. Topper, Patrick J. Heron ×3 başvurular	04 Kasım 2025	8,60%	Değişiklik	·	SEC
Frazier Life Sciences IX, L.P., FHMLS IX, L.P., FHMLS IX, L.L.C., Frazier Life Sciences Public Fund, L.P., FHMLSP, L.P., FHMLSP, L.L.C., Frazier Life Sciences Public Overage Fund, L.P., FHMLSP Overage, L.P., FHMLSP Overage, L.L.C., Frazier Life Sciences XI, L.P., FHMLS XI, L.P., FHMLS XI, L.L.C., James N. Topper, Patrick J. Heron, Albert Cha, James Brush, Daniel Estes ×8 başvurular	22 Ağustos 2024	·	İlk başvuru	Pasif yatırım	SEC
Takeda Pharmaceutical Company Limited ×3 başvurular	10 Nisan 2024	·	İlk başvuru	·	SEC
Frazier Life Sciences IX, L.P ., FHMLS IX, L.P., FHMLS IX, L.L.C., Frazier Life Sciences Public Fund, L.P., FHMLSP, L.P., FHMLSP, L.L.C., Frazier Life Sciences Public Overage Fund, L.P., FHMLSP Overage, L.P., FHMLSP Overage, L.L.C., Frazier Life Sciences XI, L.P., FHMLS XI, L.P., FHMLS XI, L.L.C., James N. Topper, Patrick J. Heron, Albert Cha, James Brush, Daniel Estes	26 Mayıs 2023	·	İlk başvuru	Pasif yatırım	SEC
S.S. OR ×5 başvurular	12 Kasım 2021	·	İlk başvuru	·	SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Şirket yöneticileri 20 içeriden öğrenenler · 9 yöneticiler · 12 yönetim kurulu üyeleri

19

İçeriden Öğrenen	Rol	Son işlem	Sahip olunan hisse senetleri	Satışlar 12ay	Net 12ay
Steven L Basta	President and CEO	10 Şubat 2026 F	373.315	0	$0
Molly Henderson	CFO and CBO	07 Nisan 2025 S	89.868	0	$0
Todd P. Branning	Chief Financial Officer	28 Ocak 2021 A	·	0	$0
Terrie Curran	President and Chief Executive	27 Şubat 2025 A	360.465	0	$0
Azmi Nabulsi	Chief Operating Officer	27 Şubat 2025 A	312.590	0	$0
Robert Charles Breedlove	Principal Accounting Officer	03 Eylül 2026 F	59.465	1	$-7.079
Anne Marie Cook	Chief Legal Off. & Corp. Sec.	10 Şubat 2026 F	88.660	0	$0
Sanjeev Narula	Chief Financial & Bus. Officer	02 Ocak 2026 A	226.715	0	$0
Anthony J. Guzzo	VP, Chief Accounting Officer	19 Ocak 2022 A	8.399	0	$0
Asit Parikh	Yönetim kurulu üyesi	22 Mayıs 2026 G	148.500	0	$0
Mark Stenhouse	Yönetim kurulu üyesi	19 Mayıs 2026 A	54.122	0	$0
Theodore R Schroeder	Yönetim kurulu üyesi	19 Mayıs 2026 A	45.122	0	$0
James N. Topper	Yönetim kurulu üyesi	19 Mayıs 2026 A	66.718	0	$0
Frank Karbe	Yönetim kurulu üyesi	19 Mayıs 2026 A	91.622	0	$0
Michael F Cola	Yönetim kurulu üyesi	19 Mayıs 2026 A	63.920	0	$0
Heidi Kunz	Yönetim kurulu üyesi	19 Mayıs 2026 A	54.122	0	$0
David A Socks	Yönetim kurulu üyesi	23 Mayıs 2024 A	19.500	0	$0
Tadataka Yamada	Yönetim kurulu üyesi	21 Mayıs 2021 A	·	0	$0
Jonathan S. Edwards	Yönetim kurulu üyesi	29 Ekim 2019 C	47.984	0	$0
Takeda Pharmaceutical Company Limited	·	24 Ocak 2024 S	3.755.583	0	$0

SEC Form 3/4/5 başvurularından yöneticiler; net = yalnızca açık piyasa Alış/Satış

ETF sahipliği 24 ETF'ler tarafından tutuluyor

20

Ağırlık yalnızca doğrudan öz sermaye varlıklarını (N-PORT) yansıtır; kaldıraçlı veya türev tabanlı fonlar gösterilmeyen ek swap pozisyonlarına sahip olabilir.

Fon	Ağırlık	Birimler	Tarih itibarıyla	Kaynak
BBP · ETFis Series Trust I	1,16%	130.873 NS	31 Temmuz 2026	N-PORT
PILL · Direxion Shares ETF Trust	0,64%	15.083 NS	31 Temmuz 2026	N-PORT
IWC · iShares Trust	0,10%	167.720 SH	11 Eylül 2026	Günlük
IHE · iShares Trust	0,10%	187.890 SH	11 Eylül 2026	Günlük
VFMO · VANGUARD WELLINGTON FUND	0,04%	78.352 SH	19 Ağustos 2026	Günlük
IBBQ · Invesco Exchange-Traded Fund Trust …	0,04%	5.742 SH	02 Ekim 2026	Günlük
IBB · iShares Trust	0,04%	439.273 SH	11 Eylül 2026	Günlük
VTWO · VANGUARD SCOTTSDALE FUNDS	0,02%	283.184 SH	19 Ağustos 2026	Günlük
VTWV · VANGUARD SCOTTSDALE FUNDS	0,02%	30.521 SH	19 Ağustos 2026	Günlük
ISCG · iShares Trust	0,02%	18.633 SH	11 Eylül 2026	Günlük
RSSL · Global X Funds	0,01%	23.493 NS	31 Temmuz 2026	N-PORT
IWM · iShares Trust	0,01%	1.255.887 SH	11 Eylül 2026	Günlük
VXF · VANGUARD INDEX FUNDS	0,01%	586.438 SH	19 Ağustos 2026	Günlük
VTWG · VANGUARD SCOTTSDALE FUNDS	0,01%	15.003 SH	19 Ağustos 2026	Günlük
VHT · VANGUARD WORLD FUND	0,01%	148.237 SH	19 Ağustos 2026	Günlük
IWO · iShares Trust	0,01%	132.821 SH	11 Eylül 2026	Günlük
FHLC · FIDELITY COVINGTON TRUST	0,01%	22.619 NS	31 Temmuz 2026	N-PORT
WSML · iShares Trust	0,00%	2.597 SH	11 Eylül 2026	Günlük
ITOT · iShares Trust	0,00%	79.252 SH	11 Eylül 2026	Günlük
IWV · iShares Trust	0,00%	9.388 SH	03 Eylül 2026	Günlük
VTI · VANGUARD INDEX FUNDS	0,00%	2.007.668 SH	19 Ağustos 2026	Günlük
VTHR · VANGUARD SCOTTSDALE FUNDS	0,00%	3.478 SH	19 Ağustos 2026	Günlük
IWN · iShares Trust	·	330.692 SH	11 Eylül 2026	Günlük
ISCB · iShares Trust	·	2.641 SH	11 Eylül 2026	Günlük

PHAT Analist Uzlaşması Boğa ve ayı analist görüşleri, 12 aylık fiyat hedefi, yukarı yönlü potansiyel

21

derecelendirme · 17 analist AL

Medyan hedef $21.00 +203,5%

6 35,3% Güçlü Al

9 52,9% Al

2 11,8% Tut

0 0,0% Sat

0 0,0% Güçlü Sat

12 Aylık Fiyat Hedefi

11 analist · 2026-09-29

Ortalama hedef $20.45 +195,6%

← Tüm hedeflerin altında Mevcut fiyat $6.92

Düşük$10.00 Ortalama$20.45 Yüksek$29.00

Akran karşılaştırması (GICS alt sektörü) Anahtar metrikler sektördeki benzerlerine karşı

22

Mali yıl bazında, fiyatlar her şirketin son mali yıl kapanışına göredir.

Hisse Sembolü	Piyasa Değeri	P/E	Gelir YoY	Net Kar Marjı	ROE	Brüt Kar Marjı
PHAT	$1.18B	-5.5	216.9%	-126.4%	52.4%	87.1%
COLL	$1.47B	26.8	23.6%	8.1%	23.5%	59.4%
ACRS	$363M	-5.7	-58.2%	-829.6%	-55.3%	·
AQST	$788M	-8.3	-22.6%	-188.1%	157.7%	·
ZVRA	$509M	6.6	350.9%	78.2%	61.2%	·
CRMD	$922M	5.7	617.0%	52.3%	52.1%	88.5%
CTNM	·	-5.3	·	·	-27.7%	·
ARVN	$753M	-10.4	-0.30%	-30.8%	-15.5%	·
EOLS	$432M	-8.3	11.6%	-17.4%	247.3%	66.3%

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26

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PHAT Phathom Pharmaceuticals, Inc. - Common Stock