CASTLE BIOSCIENCES INC
For the period ended Mar 31, 2025. Filed May 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 5, 2025
CSTL$34.38+5.7%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Financial Statements
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share data)
| March 31, 2025 | December 31, 2024 | |
|---|---|---|
| ASSETS · (unaudited) | ||
| Current Assets | ||
| Cash and cash equivalents | $89,689 | $119,709 |
| Marketable investment securities | 185,462 | 173,421 |
| Accounts receivable, net | 56,353 | 51,218 |
| Inventory | 6,849 | 8,135 |
| Prepaid expenses and other current assets | 11,035 | 7,671 |
| Total current assets | 349,388 | 360,154 |
| Long-term marketable investment securities | 5,570 | — |
| Long-term accounts receivable, net | 1,000 | 918 |
| Property and equipment, net | 55,423 | 51,122 |
| Operating lease assets | 11,164 | 11,584 |
| Goodwill and other intangible assets, net | 77,904 | 106,229 |
| Other assets – long-term | 1,266 | 1,228 |
| Total assets | $501,715 | $531,235 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current Liabilities | ||
| Accounts payable | $8,502 | $6,901 |
| Accrued compensation | 17,857 | 32,555 |
| Operating lease liabilities | 1,435 | 1,665 |
| Current portion of long-term debt | 1,111 | 278 |
| Other accrued and current liabilities | 8,369 | 7,993 |
| Total current liabilities | 37,274 | 49,392 |
| Long-term debt | 8,921 | 9,745 |
| Noncurrent operating lease liabilities | 14,049 | 14,345 |
| Noncurrent finance lease liabilities | 328 | 311 |
| Deferred tax liability | 837 | 1,607 |
| Total liabilities | 61,409 | 75,400 |
| Commitments and Contingencies (Note 11) | ||
| Stockholders’ Equity | ||
| Preferred stock, $0.001 par value per share; 10,000,000 shares authorized as of March 31, 2025 and December 31, 2024; no shares issued and outstanding as of March 31, 2025 and December 31, 2024 | — | — |
| Common stock, $0.001 par value per share; 200,000,000 shares authorized as of March 31, 2025 and December 31, 2024; 28,844,937 and 28,483,195 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively | 29 | 28 |
| Additional paid-in capital | 666,120 | 655,703 |
| Accumulated deficit | (225,974) | (200,126) |
| Accumulated other comprehensive income | 131 | 230 |
| Total stockholders’ equity | 440,306 | 455,835 |
| Total liabilities and stockholders’ equity | $501,715 | $531,235 |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2025 | 2024 | |
| NET REVENUES | $87,988 | $72,974 |
| OPERATING EXPENSES | ||
| Cost of sales (exclusive of amortization of acquired intangible assets) | 16,383 | 13,894 |
| Research and development | 12,588 | 13,809 |
| Selling, general and administrative | 58,620 | 48,495 |
| Amortization of acquired intangible assets | 28,325 | 2,247 |
| Total operating expenses, net | 115,916 | 78,445 |
| Operating loss | (27,928) | (5,471) |
| Interest income | 3,099 | 2,996 |
| Changes in fair value of trading securities | (1,425) | — |
| Interest expense | (17) | (14) |
| Loss before income taxes | (26,271) | (2,489) |
| Income tax (benefit) expense | (423) | 45 |
| Net loss | $(25,848) | $(2,534) |
| Loss per share, basic and diluted | $(0.90) | $(0.09) |
| Weighted-average shares outstanding, basic and diluted | 28,609 | 27,485 |
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