Company: CSTL
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-048254
Chunk: 122

Company: CASTLE BIOSCIENCES INC
Filing Date: 2025-11-03
Form: 10-Q
Item: Item 8
Chunk 122
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5. As a result of this decision, we further revised the estimated useful life of the asset and determined that the intangible asset should be fully amortized as of March 31, 2025. This change resulted in an acceleration of amortization expense of approximately $20.1 million.In May 2025, in connection with the acquisition of Capsulomics, and in accordance with ASC 805, we determined that substantially all of the fair value of the gross assets acquired was concentrated in a single identifiable asset; therefore, the transaction was accounted for as an asset acquisition. The acquired intangible asset consists of developed technology and is valued at $28.2 million with an estimated useful life of 12 years and is being amortized on a straight-line basis.Amortization expense of intangible assets was $2.3 million and $32.6 million for the three and nine months ended September 30, 2025, respectively, and $2.3 million and $6.8 million for the three and nine months ended September 30, 2024, respectively.

8. Other Accrued and Current Liabilities

Other accrued and current liabilities consisted of the following (in thousands): September 30, 2025December 31, 2024Accrued service fees$3,410 $2,338 Clinical studies2,419 2,580 Accrued taxes1,245 1,076 ESPP contributions212 1,225 Other1,599 774 Total$8,885 $7,993 

9. Long-Term Debt

Our long-term debt is presented in the table below (in thousands): September 30, 2025December 31, 2024Term debt$10,200 $10,200 Unamortized discount(151)(177)Total debt, net10,049 10,023 Less: Current portion of long-term debt— (278)Total long-term debt$10,049 $9,745 

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Table of ContentsCASTLE BIOSCIENCES, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)(UNAUDITED)

Future maturities of principal amounts on long-term debt as of September 30, 2025 were as follows (in thousands):Years Ending December 31,2025$— 2026417 20275,000 20284,583 Total$