Revenue generation has effectively ceased, with quarterly figures dropping to zero by 2025, while R&D expenses remain the primary cost driver, peaking at $21.2 million in 2025Q2.
| Sales/Revenue | 0 | 0 | 93K | 120K | 0 | 0 | 0 | 0 |
| Revenue Growth % | -100% | -100% | -22.5% | - | - | - | - | - |
| Cost of Goods Sold | 0 | 0 | 50K | 77K | 452K | 0 | 770K | 893K |
| COGS % of Revenue | - | - | 53.76% | 64.17% | - | - | - | - |
| Gross Profit | 0 | 0 | 43K | 43K | -452K | 0 | -770K | -893K |
| Gross Margin % | - | - | 46.24% | 35.83% | - | - | - | - |
| Gross Profit Growth % | - | -100% | 0% | 109.51% | - | 100% | 13.77% | - |
| Operating Expenses | 92.88M | 96.82M | 93.57M | 50.88M | 48.93M | 36.93M | 28.19M | 29.03M |
| OpEx % of Revenue | - | - | 100617.2% | 42399.17% | - | - | - | - |
| Selling, General & Admin | 17.25M | 22.28M | 0 | 0 | 14.58M | 10.49M | 5.76M | 8.14M |
| SG&A % of Revenue | - | - | - | - | - | - | - | - |
| Research & Development | 70.7M | 74.54M | 70.47M | 38.04M | 34.35M | 26.43M | 22.43M | 20.89M |
| R&D % of Revenue | - | - | 75775.27% | 31698.33% | - | - | - | - |
| Other Operating Expenses | 1000K | 0 | 23.1M | 12.84M | 0 | 0 | 0 | 0 |
| Operating Income | -92.88M | -96.82M | -93.53M | -50.84M | -49.38M | -36.93M | -28.96M | -29.92M |
| Operating Margin % | - | - | -100570.97% | -42363.33% | - | - | - | - |
| Operating Income Growth % | - | -3.51% | -83.99% | -2.94% | -33.73% | -27.51% | 3.2% | - |
| EBITDA | -91.76M | -95.69M | -92.85M | -50.55M | -48.93M | -36.25M | -28.19M | -29.03M |
| EBITDA Margin % | - | - | -99843.01% | -42125% | - | - | - | - |
| EBITDA Growth % | 4.25% | -3.05% | -83.69% | -3.3% | -34.98% | -28.59% | 2.88% | - |
| D&A (Non-Cash Add-back) | 1.12M | 1.13M | 677K | 286K | 452K | 676K | 770K | 893K |
| EBIT | -92.88M | -96.82M | -93.53M | -50.84M | -49.38M | -36.93M | -28.96M | -29.92M |
| Net Interest Income | 1.63M | 1.54M | 4.15M | 1.26M | 797K | -1.44M | -1.5M | -635K |
| Interest Income | 1.63M | 1.54M | 4.15M | 1.26M | 797K | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 1.44M | 1.5M | 635K |
| Other Income/Expense | -15.12M | -44.14M | 24.84M | -26.25M | 2.93M | -1.81M | -1.52M | -673K |
| Pretax Income | -108M | -140.95M | -68.69M | -77.09M | -46.45M | -38.73M | -30.48M | -30.59M |
| Pretax Margin % | - | - | -73864.52% | -64242.5% | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -108M | -140.95M | -68.69M | -77.09M | -46.45M | -38.73M | -30.48M | -30.59M |
| Net Margin % | - | - | -73864.52% | -64242.5% | - | - | - | - |
| Net Income Growth % | -21.2% | -105.19% | 10.89% | -65.95% | -19.93% | -27.08% | 0.37% | - |
| Net Income (Continuing) | -108M | -140.95M | -68.69M | -77.09M | -46.45M | -38.73M | -30.48M | -30.59M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.42 | -1.86 | -1.62 | -1.98 | -1.34 | -1.12 | -0.86 | -0.64 |
| EPS Growth % | 5.43% | -14.81% | 18.18% | -47.76% | -19.64% | -30.23% | -34.38% | - |
| EPS (Basic) | - | -1.86 | -1.62 | -1.98 | -1.34 | -1.12 | -0.86 | -0.64 |
| Diluted Shares Outstanding | 75.82M | 75.82M | 43.54M | 47.61M | 47.61M | 47.61M | 47.61M | 47.61M |
| Basic Shares Outstanding | 75.82M | 75.82M | 43.54M | 47.61M | 47.61M | 47.61M | 47.61M | 47.61M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Clinical trial funding dependency
As indicated by the company's financial statements, Fractyl Health has transitioned to a pre-revenue state, with quarterly revenue figures dropping to zero by 2025, underscoring the firm's current status as a purely developmental-stage entity rather than a commercial-scale medical technology provider at this juncture.
The absence of meaningful revenue suggests that the company has yet to achieve any commercial traction for its Revita system. Investors should monitor whether this lack of top-line activity persists as a structural feature of the pre-clinical phase or if it indicates delays in the anticipated commercialization timeline.
Based on reported figures, R&D expenses have consistently remained the primary driver of the company's cost structure, peaking at $21.2 million in 2025Q2, which highlights the significant capital intensity required to advance the Revita system through its pivotal clinical trial and regulatory pathways.
The concentration of spending in R&D reflects a strategic prioritization of clinical validation over commercial infrastructure. This high fixed-cost burden appears to be the primary factor pressuring the bottom line, necessitating careful management of the remaining cash runway to avoid premature dilution.
According to recent SEC filings, the reported net income of $9.2 million in 2026Q1 represents a significant departure from the persistent quarterly losses observed throughout 2024 and 2025, suggesting that non-operating items or accounting adjustments may be distorting the underlying operational performance of the business.
The sudden swing to positive net income warrants further investigation, as it does not appear to correlate with any operational revenue growth. Analysts should treat this figure with caution, as it likely obscures the ongoing cash-burning nature of the company's core research and development activities.
As reported in financial statements, the company's consistent operating losses, which frequently exceeded $20 million per quarter, suggest that the current cash position may be insufficient to reach commercial scale without significant future equity financing, potentially diluting existing shareholders in the near term.
The reliance on external capital to fund clinical development creates a structural vulnerability for investors. If the company fails to demonstrate clear clinical milestones, the cost of future capital may increase, further pressuring the valuation of the equity in a competitive metabolic treatment market.
Quick answers to the most common questions about buying GUTS stock.
For fiscal year 2025, Fractyl Health, Inc. Common Stock (GUTS) reported total revenue of $0.0M.
Fractyl Health, Inc. Common Stock (GUTS) reported a net loss of $141.0M for the fiscal year ending 2025.