Fractyl Health Financials
This page shows Fractyl Health (GUTS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Fractyl Health’s dominant mechanic is externally funded development: R&D-heavy cash burn is sustaining the platform while revenue remains negligible.
From FY2023 to FY2025, cash increased from$33.2M to$81.5M . Over the same span, operating cash outflow widened from-$42.8M to-$90.3M , so liquidity was replenished by financing rather than by customer activity. In FY2025, free cash flow at-$90.9M sat almost on top of operating cash flow at-$90.3M , showing the burn came from research and overhead instead of a capital-heavy asset build.
FY2025 spending was structurally research-led: R&D reached
The short-term picture looks liquid, with a current ratio of 4.8x and cash of
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Fractyl Health's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Fractyl Health's revenue declined 100% year-over-year, from $93K to $0. This contraction results in a growth score of 0/100.
Fractyl Health has elevated debt relative to equity (D/E of 11.84), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
With a current ratio of 4.78, Fractyl Health holds $4.78 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 95/100.
Fractyl Health generates a -1490.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -241.7% the prior year.
Fractyl Health passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Fractyl Health generates $0.64 in operating cash flow (-$90.3M OCF vs -$141.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Fractyl Health generated $0 in revenue in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Fractyl Health's EBITDA was -$95.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 3.1% from the prior year.
Fractyl Health reported -$141.0M in net income in fiscal year 2025. This represents a decrease of 105.2% from the prior year.
Fractyl Health earned $-1.86 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 14.8% from the prior year.
Cash & Balance Sheet
Fractyl Health generated -$90.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 35.1% from the prior year.
Fractyl Health held $81.5M in cash against $0 in long-term debt as of fiscal year 2025.
Fractyl Health had 153M shares outstanding in fiscal year 2025. This represents an increase of 214.6% from the prior year.
Margins & Returns
Fractyl Health's ROE was -1490.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1248.6 percentage points from the prior year.
Capital Allocation
Fractyl Health invested $74.5M in research and development in fiscal year 2025. This represents an increase of 5.8% from the prior year.
Fractyl Health invested $557K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 68.4% from the prior year.
GUTS Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | $3K-78.6% | $14K-67.4% | $43K |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | $0-100.0% | $7K-70.8% | $24K |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | $3K-57.1% | $7K-63.2% | $19K |
| R&D Expenses | $15.6M | N/A | $17.5M-17.5% | $21.2M+8.8% | $19.4M-4.2% | $20.3M+6.7% | $19.0M+13.4% | $16.8M |
| SG&A Expenses | $5.2M | N/A | $5.2M+6.3% | $4.9M-7.4% | $5.3M+7.9% | $4.9M+2.8% | $4.8M-23.1% | $6.2M |
| Operating Income | -$20.8M | N/A | -$22.7M+13.0% | -$26.1M-5.3% | -$24.8M+1.8% | -$25.2M-6.0% | -$23.8M-3.5% | -$23.0M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | $9.2M | N/A | -$45.6M-63.5% | -$27.9M-17.5% | -$23.7M+4.9% | -$25.0M-7.8% | -$23.2M-34.5% | -$17.2M |
| EPS (Diluted) | $0.06 | N/A | $-0.71-24.6% | $-0.57-16.3% | $-0.49 | N/A | $-0.48-33.3% | $-0.36 |
GUTS Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $99.4M-18.1% | $121.4M+6.2% | $114.3M+84.3% | $62.0M-25.3% | $83.0M-23.2% | $108.1M-14.8% | $126.9M-13.3% | $146.4M |
| Current Assets | $65.9M-24.7% | $87.6M+9.9% | $79.7M+198.6% | $26.7M-43.3% | $47.0M-34.4% | $71.8M-18.1% | $87.7M-17.7% | $106.6M |
| Cash & Equivalents | $63.2M-22.5% | $81.5M+5.0% | $77.7M+248.4% | $22.3M-47.1% | $42.1M-37.6% | $67.5M-20.3% | $84.7M-17.4% | $102.4M |
| Inventory | N/A | N/A | N/A | N/A | N/A | $73K0.0% | $73K+14.1% | $64K |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | $0 | $0-100.0% | $22K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $78.0M-30.3% | $111.9M-4.7% | $117.5M+46.4% | $80.2M+4.6% | $76.7M-3.8% | $79.7M+4.0% | $76.6M+1.2% | $75.7M |
| Current Liabilities | $15.4M-15.9% | $18.3M-1.9% | $18.7M-14.4% | $21.8M+16.1% | $18.8M-4.9% | $19.8M+25.8% | $15.7M+10.1% | $14.3M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $21.4M+126.0% | $9.5M+397.6% | -$3.2M+82.5% | -$18.2M-385.7% | $6.4M-77.6% | $28.4M-43.5% | $50.3M-28.9% | $70.8M |
| Retained Earnings | -$547.0M+1.7% | -$556.3M-8.5% | -$512.5M-9.8% | -$466.9M-6.4% | -$439.0M-5.7% | -$415.3M-6.4% | -$390.3M-6.3% | -$367.2M |
GUTS Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$22.5M-5.3% | -$21.3M+6.1% | -$22.7M-7.1% | -$21.2M+15.5% | -$25.1M-47.2% | -$17.0M+5.6% | -$18.0M+3.7% | -$18.7M |
| Capital Expenditures | $448K+14833.3% | $3K-62.5% | $8K-91.8% | $98K-78.1% | $448K+92.3% | $233K+9.4% | $213K-18.1% | $260K |
| Free Cash Flow | -$22.9M-7.4% | -$21.3M+6.1% | -$22.7M-6.7% | -$21.3M+16.6% | -$25.5M-47.8% | -$17.3M+5.4% | -$18.3M+3.9% | -$19.0M |
| Investing Cash Flow | -$448K-14833.3% | -$3K+62.5% | -$8K+91.8% | -$98K+78.1% | -$448K-92.3% | -$233K-9.4% | -$213K+18.1% | -$260K |
| Financing Cash Flow | $4.1M-83.7% | $25.2M-67.7% | $78.1M+5176.2% | $1.5M+765.5% | $171K+155.2% | $67K-58.6% | $162K+3340.0% | -$5K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
GUTS Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | 100.0%+50.0pp | 50.0%+5.8pp | 44.2% |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | -840333.3%-670376.2pp | -169957.1%-116503.7pp | -53453.5% |
| Net Margin | N/A | N/A | N/A | N/A | N/A | -832333.3%-666811.9pp | -165521.4%-125454.0pp | -40067.4% |
| Return on Equity | 43.1% | N/A | N/A | N/A | -372.3%-284.5pp | -87.8%-41.8pp | -46.1%-21.7pp | -24.3% |
| Return on Assets | 9.3% | N/A | -39.9%+5.1pp | -45.0%-16.4pp | -28.6%-5.5pp | -23.1%-4.8pp | -18.3%-6.5pp | -11.8% |
| Current Ratio | 4.28-0.5 | 4.78+0.5 | 4.27+3.0 | 1.22-1.3 | 2.50-1.1 | 3.63-1.9 | 5.58-1.9 | 7.46 |
| Debt-to-Equity | 3.65-8.2 | 11.84+48.8 | -36.96-32.6 | -4.40-16.4 | 12.03+9.2 | 2.80+1.3 | 1.52+0.5 | 1.07 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | -575566.7%-445195.2pp | -130371.4%-86192.4pp | -44179.1% |
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Frequently Asked Questions
What is Fractyl Health's annual revenue?
Fractyl Health (GUTS) reported $0 in total revenue for fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Fractyl Health's revenue growing?
Fractyl Health (GUTS) revenue declined by 100% year-over-year, from $93K to $0 in fiscal year 2025.
Is Fractyl Health profitable?
No, Fractyl Health (GUTS) reported a net income of -$141.0M in fiscal year 2025.
What is Fractyl Health's EBITDA?
Fractyl Health (GUTS) had EBITDA of -$95.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Fractyl Health's return on equity (ROE)?
Fractyl Health (GUTS) has a return on equity of -1490.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Fractyl Health's free cash flow?
Fractyl Health (GUTS) generated -$90.9M in free cash flow during fiscal year 2025. This represents a -35.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Fractyl Health's operating cash flow?
Fractyl Health (GUTS) generated -$90.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Fractyl Health's total assets?
Fractyl Health (GUTS) had $121.4M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Fractyl Health's capital expenditures?
Fractyl Health (GUTS) invested $557K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Fractyl Health spend on research and development?
Fractyl Health (GUTS) invested $74.5M in research and development during fiscal year 2025.
What is Fractyl Health's current ratio?
Fractyl Health (GUTS) had a current ratio of 4.78 as of fiscal year 2025, which is generally considered healthy.
What is Fractyl Health's debt-to-equity ratio?
Fractyl Health (GUTS) had a debt-to-equity ratio of 11.84 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Fractyl Health's return on assets (ROA)?
Fractyl Health (GUTS) had a return on assets of -116.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Fractyl Health's cash runway?
Based on fiscal year 2025 data, Fractyl Health (GUTS) had $81.5M in cash against an annual operating cash burn of $90.3M. This gives an estimated cash runway of approximately 11 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Fractyl Health's Piotroski F-Score?
Fractyl Health (GUTS) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Fractyl Health's earnings high quality?
Fractyl Health (GUTS) has an earnings quality ratio of 0.64x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Fractyl Health?
Fractyl Health (GUTS) scores 16 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.