CASTLE BIOSCIENCES INC

Listed Company

CSTLCIK 0001447362NasdaqAcceleratedServices-Medical LaboratoriesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$344.23M

Net Income

$-24.16M

Total Assets

$578.56M

Equity

$470.87M

Shares Out

29.73M

Op. Cash Flow

$64.35M

Business

CASTLE BIOSCIENCES INC is a molecular diagnostics company that develops and commercializes proprietary genomic and spatial-omics tests to inform diagnosis, prognosis and treatment decisions. Its main products include DecisionDx-Melanoma, DecisionDx-SCC, DecisionDx-UM, TissueCypher, MyPath Melanoma and the IDgenetix pharmacogenomic test for mental health. The company organizes around its testing solutions, clinical and commercial development (medical affairs, R&D, reimbursement) and laboratory operations. It primarily serves U.S. clinicians and payors through direct sales, medical education and reimbursement channels, operating CLIA/CAP-certified labs in Phoenix and Pittsburgh.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
NET REVENUES	344	332	220	137	94
Cost of sales (exclusive of amortization of acquired intangible assets)	71	60	45	32	16
Research and development	52	52	54	45	30
Selling, general and administrative	229	200	180	143	87
Amortization of acquired intangible assets	35	11	9	8	2
Total operating expenses, net	387	323	288	210	134
Operating (loss) income	−43	9	−68	−73	−40
Interest income	12	13	11	4	68,000
Net gains on equity securities	1	555,000	0	—	—
Interest expense	−86,000	−577,000	−11,000	−17,000	—
Other income	144,000	0	0	—	—
(Loss) income before income taxes	−30	22	−57	−69	−40
Income tax (benefit) expense	−5	3	101,000	−2	−9
Net (loss) income	−24	18	−57	−67	−31
Basic (in dollars per share)	−0.83	0.66	−2.14	−2.58	−1.24
Diluted (in dollars per share)	−0.83	0.62	−2.14	−2.58	−1.24
Basic (in shares)	29	28	27	26	25
Diluted (in shares)	29	29	27	26	25

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	117	120	99	123	330
Marketable investment securities	183	173	144	—	—
Accounts receivable, net	43	51	38	23	17
Inventory	10	8	8	4	2
Prepaid expenses and other current assets	8	8	6	6	5
Total current assets	361	360	296	292	354
Long-term accounts receivable, net	2	918,000	1	1	1
Property and equipment, net	97	51	25	14	10
Operating lease assets	15	12	12	12	7
Goodwill and other intangible assets, net	100	106	117	126	89
Other assets long-term	4	1	1	1	2
Total assets	579	531	453	447	463
Accounts payable	19	7	10	5	3
Accrued compensation	38	33	29	24	15
Contingent consideration	1	0	—	—	—
Operating lease liabilities	1	2	1	2	1
Current portion of long-term debt	417,000	278,000	0	—	—
Other accrued and current liabilities	9	8	7	5	6
Total current liabilities	69	49	48	36	25
Long-term debt	10	10	0	—	—
Noncurrent portion of contingent consideration	2	0	—	0	18
Noncurrent operating lease liabilities	25	14	14	12	7
Noncurrent finance lease liabilities	314,000	311,000	25,000	—	—
Deferred tax liability	2	2	206,000	428,000	635,000
Total liabilities	108	75	62	48	51
Commitments and Contingencies (Note 12)	—	—	—	—	—
Preferred stock, $0.001 par value per share; 10,000,000 shares authorized as of December 31, 2025 and 2024; no shares issued and outstanding as of December 31, 2025 and 2024	0	0	0	0	0
Common stock, $0.001 par value per share; 200,000,000 authorized as of December 31, 2025 and 2024; 29,686,314 and 28,483,195 shares issued and outstanding as of December 31, 2025 and 2024, respectively	30,000	28,000	27,000	27,000	25,000
Additional paid-in capital	695	656	609	560	505
Accumulated deficit	−224	−200	−218	−161	−94
Accumulated other comprehensive income	267,000	230,000	136,000	−381,000	0
Total stockholders equity	471	456	391	399	412
Total liabilities and stockholders equity	579	531	453	447	463

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	41	16	12	11	3
Stock-based compensation expense	46	50	51	36	22
Deferred income taxes	−6	1	−223,000	−2	−9
Accretion of discounts on marketable investment securities	−4	−7	−5	−1	0
Other	153,000	268,000	635,000	158,000	0
Accounts receivable	7	−13	−15	−6	−5
Prepaid expenses and other current assets	−544,000	−1	−435,000	−1	617,000
Inventory	−2	−193,000	−4	−2	327,000
Operating lease assets	1	1	−258,000	991,000	931,000
Other assets	−366,000	262,000	−330,000	618,000	−180,000
Accounts payable	3	−4	6	582,000	−182,000
Operating lease liabilities	−1	−1	852,000	−608,000	−852,000
Accrued compensation	6	4	5	8	6
Other accrued and current liabilities	870,000	320,000	2	−963,000	2
Net cash provided by (used in) operating activities	64	65	−6	−42	−19
Purchases of marketable investment securities	−189	−206	−189	−135	0
Proceeds from maturities of marketable investment securities	189	184	187	0	—
Proceeds from sale of equity securities	2	0	0	—	—
Purchases of debt securities classified as held-to-maturity	−6	0	0	—	—
Asset acquisition, net of cash and cash equivalents acquired	−19	0	0	547,000	−63
Issuance of loan receivable	−2	0	0	—	—
Purchases of property and equipment	−36	−28	−14	−6	−3
Proceeds from sale of property and equipment	45,000	18,000	13,000	195,000	10,000
Net cash used in investing activities	−60	−50	−16	−167	−67
Proceeds from exercise of common stock options	2	2	269,000	833,000	4
Payment of employees taxes on vested restricted stock units	−12	−9	−5	−2	−781,000
Proceeds from contributions to the employee stock purchase plan	2	3	3	2	2
Repayment of principal portion of finance lease liabilities	−115,000	−97,000	−142,000	−122,000	−8,000
Proceeds from lease incentives received	190,000	0	0	—	—
Proceeds from issuance of term debt	0	10	0	0	—
Net cash (used in) provided by financing activities	−7	6	−2	2	5
NET CHANGE IN CASH AND CASH EQUIVALENTS	−3	21	−24	−207	−80
Interest paid, net of amounts capitalized	59,000	434,000	11,000	16,000	1,000
Income taxes, net	2	3	198,000	120,000	16,000
Accrued purchases of property and equipment	11	2	1	1	33,000
Property and equipment acquired with tenant improvement allowance	7	1	1	51,000	54,000
Operating lease assets obtained in exchange for lease obligations	5	607,000	2	6	3
Decrease in operating lease assets with corresponding change in lease liabilities	−104,000	−7,000	0	0	—
Finance lease assets obtained in exchange for lease obligations	119,000	218,000	0	0	—

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