GUTS

MKT CAP:$45M

Fractyl Health, Inc. Common Stock

Market Cap

$45M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$0.58-$1.67 (-74.04%)

Apr 22, 2026

Company Details

Fractyl Health, Inc., a metabolic therapeutics company, develops therapies for the treatment of type 2 diabetes (T2D) and obesity. The company develops Revita DMR System (Revita), an outpatient procedural therapy designed to durably modify ...

CEO

Harith Rajagopalan

IPO Date

Feb 2, 2024

Website

fractyl.com

Key Metrics TTM

Revenue

$0

-100.0% YoY

Net Income

-$141M

EPS (Diluted)

-$2.35

Free Cash Flow

-$91M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q1 2026

May 12, 2026

PENDING

FY 2025

Mar 24, 2026

$0-100.0%EPS -$1.86

Q4 2025

Mar 24, 2026

$0-100.0%EPS -$0.58

Q3 2025

Nov 12, 2025

$0-100.0%EPS -$0.71

Q2 2025

Aug 12, 2025

$0-100.0%EPS -$0.57

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$0	$0	-$13M
Q2 22	$0	$0	-$13M
Q3 22	$0	$0	-$12M
Q4 22	$0	$0	-$11M
Q1 23	$5.0K	$2.0K	-$12M
Q2 23	$72.0K	$25.0K	-$12M
Q3 23	$36.0K	-$73.0K	-$14M
Q4 23	$7.0K	$5.0K	-$13M
Q1 24	$33.0K	$14.0K	-$22M
Q2 24	$43.0K	$19.0K	-$23M
Q3 24	$14.0K	$7.0K	-$24M
Q4 24	$3.0K	$3.0K	-$25M
Q1 25	$0	$0	-$25M
Q2 25	$0	$0	-$26M
Q3 25	$0	-$290.0K	-$23M
Q4 25	$0	-$279.0K	-$23M

Valuation

Quarter	P/S	P/E
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	—	—
Q1 23	106331.1x	—
Q2 23	6904.6x	—
Q3 23	4704.9x	—
Q4 23	4430.5x	—
Q1 24	2411.1x	—
Q2 24	1798.0x	—
Q3 24	1271.7x	—
Q4 24	1064.2x	—
Q1 25	969.2x	—
Q2 25	4656.6x	—
Q3 25	24521.5x	—
Q4 25	—	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$12M	-$12M
Q2 22	-$12M	-$12M
Q3 22	-$10M	-$10M
Q4 22	-$13M	-$13M
Q1 23	-$10M	-$10M
Q2 23	-$12M	-$12M
Q3 23	-$11M	-$11M
Q4 23	-$11M	-$11M
Q1 24	-$12M	-$13M
Q2 24	-$19M	-$19M
Q3 24	-$18M	-$18M
Q4 24	-$17M	-$17M
Q1 25	-$25M	-$26M
Q2 25	-$21M	-$21M
Q3 25	-$23M	-$23M
Q4 25	-$21M	-$21M

Capital Expenditures

Quarter	CapEx
Q1 22	$2.0K
Q2 22	$2.0K
Q3 22	$52.0K
Q4 22	$0
Q1 23	$20.0K
Q2 23	$55.0K
Q3 23	$148.0K
Q4 23	$136.0K
Q1 24	$1M
Q2 24	$260.0K
Q3 24	$213.0K
Q4 24	$233.0K
Q1 25	$448.0K
Q2 25	$98.0K
Q3 25	$8.0K
Q4 25	$3.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	—	+63.3%
Q2 22	—	+63.3%
Q3 22	—	+31.6%
Q4 22	—	-4.7%
Q1 23	—	-8.3%
Q2 23	—	-9.6%
Q3 23	—	+20.4%
Q4 23	—	+13.8%
Q1 24	+560.0%	+78.1%
Q2 24	-40.3%	+92.8%
Q3 24	-61.1%	+71.2%
Q4 24	-57.1%	+94.1%
Q1 25	-100.0%	+14.8%
Q2 25	-100.0%	+13.2%
Q3 25	-100.0%	-4.7%
Q4 25	-100.0%	-7.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$733.0K	—
Q2 22	$733.0K	—
Q3 22	$765.0K	—
Q4 22	$907.0K	—
Q1 23	$857.0K	17140.0%
Q2 23	$1M	1490.3%
Q3 23	$1M	3027.8%
Q4 23	$1M	18228.6%
Q1 24	$5M	15809.1%
Q2 24	$4M	8814.0%
Q3 24	$3M	18000.0%
Q4 24	$3M	96633.3%
Q1 25	$1M	—
Q2 25	$2M	—
Q3 25	$2M	—
Q4 25	$2M	—

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 22	$9M	$5M	—
Q2 22	$9M	$5M	—
Q3 22	$9M	$9M	—
Q4 22	$9M	—	—
Q1 23	$9M	—	—
Q2 23	$9M	—	—
Q3 23	$9M	$6M	—
Q4 23	$10M	—	—
Q1 24	$14M	—	—
Q2 24	$17M	—	—
Q3 24	$19M	—	—
Q4 24	$20M	—	—
Q1 25	$19M	—	—
Q2 25	$21M	—	—
Q3 25	$17M	—	$5M
Q4 25	$16M	—	$7M

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 21	$105M	$0	$105M
Q4 21	$95M	$0	$95M
Q1 22	$0	$0	$0
Q4 22	$49M	$0	$49M
Q1 23	$0	$0	$0
Q2 23	$28M	$0	$28M
Q3 23	$45M	$0	$45M
Q4 23	$34M	$0	$34M
Q1 24	$121M	$0	$121M
Q2 24	$102M	$0	$102M
Q3 24	$85M	$0	$85M
Q4 24	$67M	$0	$67M
Q1 25	$42M	$0	$42M
Q2 25	$22M	$0	$22M
Q3 25	$78M	$0	$78M
Q4 25	$82M	$0	$82M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	48M	0.0%	0.0%
Q2 22	48M	0.0%	0.0%
Q3 22	48M	0.0%	0.0%
Q4 22	48M	0.0%	0.0%
Q1 23	48M	+0.6%	+0.6%
Q2 23	48M	-0.3%	+0.3%
Q3 23	48M	-0.3%	0.0%
Q4 23	48M	0.0%	0.0%
Q1 24	48M	+0.6%	0.0%
Q2 24	48M	+0.0%	+0.3%
Q3 24	48M	+0.2%	+0.8%
Q4 24	49M	+1.6%	+2.4%
Q1 25	49M	+0.2%	+2.0%
Q2 25	49M	+0.4%	+2.4%
Q3 25	65M	+31.8%	+34.8%
Q4 25	76M	+17.3%	+55.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	—	—
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	$69	102
Q1 24	$324	102
Q2 24	$422	102
Q3 24	$137	102
Q4 24	$28	107
Q1 25	$0	107
Q2 25	$0	107
Q3 25	$0	107
Q4 25	$0	100

Revenue / Employee