What caused GUTS' net profit drop in Q3 2024?

The net profit of Fractyl Health, Inc. (GUTS) declined by $23.17 million in Q3 2024 compared to the previous quarter, primarily due to insufficient revenue growth to cover operational costs.

1. Revenue Insufficiency: The company's revenue for Q3 2024 was only $0.04 million, which is significantly less than the operational costs, resulting in a negative net income.
2. Cost Management Issues: The net income YoY growth rate in Q3 2024 was -0.47, indicating a decrease in profitability compared to the same period last year. This suggests that the company's cost management efforts were insufficient to maintain profitability.

In conclusion, the net profit drop in Q3 2024 was primarily caused by insufficient revenue growth and cost management issues.