Company Analysis

Fractyl Health, Inc. (GUTS)

Nasdaq: GUTS · Surgical & Medical Instruments & Apparatus · Burlington, MA · filing with the SEC since 2013
Grade4.5
◀ Past 1.8● Present 3.8▶ Future 8.1
5 est.

The grade of Fractyl Health, Inc.

Nine metrics read from its own filings, by tense
Headline grade
4.5/10
◀ Past1.830% of the headline
● Present3.840% of the headline
▶ Future8.130% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 4 read as filed from the record and 5 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

1.8/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
3.8/10

Has it survived what it has been through?

2 warning events since 2017; the latest 2026-09-11.

weight 33% of this tense · 38th percentile among 121 sector filers · read for itself

From the record

Fractyl Health, Inc.'s filings since 2017 show 2 warning events: a notice about its exchange listing (8-K item 3.01, 2 times, the latest 2026-09-11) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
0.9/10

What has it actually done, year after year?

3 filed years; profitable in 0 of 3.

weight 45% of this tense · 9th percentile among 105 sector filers · read for its customers

From the record

Fractyl Health, Inc.'s 3 filed years say what it did: it rose in 0 of 2 years; the deepest fall was 100% from fiscal 2023 to fiscal 2025; net income was positive in 0 of 3 of those years (its annual reports).

What it rests on

  • the share of years revenue rosebottom 2% of its family
  • the share of filed years with a profitbottom 23% of its family
  • the deepest fall from a revenue peak100.0%bottom 1% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
0.5/10

How has it treated the people who own it?

SI estimate 0.5/10, confidence 35 of 100 (one part).

weight 22% of this tense · 5th percentile among 120 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, the share count over the years, which ranks in the bottom 5% of 120 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
one part: the share count over the years, the one part on file, ranked among 120 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Fractyl Health, Inc.'s shareholder treatment is put at 0.5 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 5% of 120 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

3.8/1040% of the headline grade · 1 of 3 filed, 2 estimated

Financial health

as filed
1.0/10

Is it financially healthy right now?

ROE -1490%: lost 1490¢ per shareholder dollar. Leverage 92%: owes 92¢ per asset dollar.

weight 45% of this tense · 10th percentile among 120 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Fractyl Health, Inc. lost about 1490 cents for every dollar of shareholders' money, and gross profitability: its products earned about 0 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 92 cents per dollar of assets, and net share issuance: its share count grew 74.1% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetsbottom 10% of its family
  • return on equitybottom 1% of its family
  • gross profit against assetsbottom 5% of its family
  • the share count against the year beforebottom 25% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

SI estimate
5.3/10

How strong is its position in its industry?

SI estimate 5.3/10, confidence 20 of 100 (family median).

weight 33% of this tense · 50th percentile among 109 sector filers · read for its customers

SI estimate Inferred, not read as filed

Why it is an estimate
No filed revenue on file, so the desk assumes the typical reading of its industry family, the median of 109 members with one.
What the record cannot read
No filed revenue on file.
How it was reasoned
family median, 109 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Fractyl Health, Inc.'s industry position is put at 5.3 of 10 with a confidence of 20 of 100, because no filed revenue on file, so the desk assumes the typical reading of its industry family, the median of 109 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

Leadership

SI estimate
7.4/10

What are the people in charge doing?

SI estimate 7.4/10, confidence 35 of 100 (one part).

weight 22% of this tense · 74th percentile among 108 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, officer and director changes on Form 8-K over three years, against the people in charge, which ranks in the top 26% of 108 in its family; the record of its people begins on 2024-02-01 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 2.8 years and cannot see past it; a floor under five years is not read as years in charge.
What the record cannot read
The record of its people begins on 2024-02-01 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 2.8 years and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned
one part: officer and director changes on Form 8-K, against the people in charge, the one part on file, ranked among 108 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Fractyl Health, Inc.'s leadership is put at 7.4 of 10 with a confidence of 35 of 100, because read from one part only, officer and director changes on Form 8-K over three years, against the people in charge, which ranks in the top 26% of 108 in its family; the record of its people begins on 2024-02-01 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 2.8 years and cannot see past it; a floor under five years is not read as years in charge. A filing that carries the missing parts replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

8.1/1030% of the headline grade · 1 of 3 filed, 2 estimated

Room to expand

SI estimate
9.2/10

How much room does it have to grow?

SI estimate 9.2/10, confidence 35 of 100 (one part).

weight 45% of this tense · 92nd percentile among 120 sector filers · read for itself

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, cash less debt against assets, which ranks in the top 8% of 120 in its family; the record does not carry two of the four parts: cash less debt against assets, cash from operations less capital spending against revenue, gross margin, research against revenue.
What the record cannot read
The record does not carry two of the four parts: cash less debt against assets, cash from operations less capital spending against revenue, gross margin, research against revenue.
How it was reasoned
one part: cash less debt against assets, the one part on file, ranked among 120 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Fractyl Health, Inc.'s room to expand is put at 9.2 of 10 with a confidence of 35 of 100, because read from one part only, cash less debt against assets, which ranks in the top 8% of 120 in its family; the record does not carry two of the four parts: cash less debt against assets, cash from operations less capital spending against revenue, gross margin, research against revenue. A filing that carries the missing parts replaces this estimate with the filed reading.

Growth drivers

as filed
8.6/10

What could actually drive growth from here?

top 14% of 105 in its family for growth drivers.

weight 33% of this tense · 86th percentile among 105 sector filers · read for its customers

From the record

Fractyl Health, Inc.'s growth drivers, from the filed years to fiscal 2025: research spending grew 40% a year (top 7%); capital spending grew 24.5% a year (top 20%) (its annual reports). Fractyl Health, Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth of research spending40.0%top 7% of its family
  • three-year growth of capital spending24.5%top 20% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

SI estimate
5.1/10

Did its newest year beat what its own record pointed to?

SI estimate 5.1/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 88 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
The record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change, so the desk assumes the typical reading of its industry family, the median of 88 members with one.
What the record cannot read
The record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change.
How it was reasoned
family median, 88 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Fractyl Health, Inc.'s expectations vs reality is put at 5.1 of 10 with a confidence of 20 of 100, because the record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change, so the desk assumes the typical reading of its industry family, the median of 88 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton GUTS · research, not advice