Company: CSTL
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001447362-25-000069
Chunk: 171

Company: CASTLE BIOSCIENCES INC
Filing Date: 2025-05-05
Form: 10-Q
Item: Item 2
Chunk 171
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)(955.5)%Income tax (benefit) expense(423)45 (468)NMNet loss$(25,848)$(2,534)$(23,314)(920.0)%

NA = Not applicable

NM = Not meaningful

The following table indicates the amount of stock-based compensation expense (non-cash) reflected in the line items above (in thousands):

Three Months EndedMarch 31,20252024Change(unaudited)Cost of sales (exclusive of amortization of acquired intangible assets)$1,456 $1,314 $142 Research and development1,895 2,629 (734)Selling, general and administrative7,828 8,732 (904)Total stock-based compensation expense$11,179 $12,675 $(1,496)

30

The following table provides a disaggregation of net revenues by type (in thousands):

Three Months EndedMarch 31,20252024Change(unaudited)Dermatologic(1)$62,962 $59,334 $3,628 Non-Dermatologic(2)25,026 13,640 11,386 Total net revenues$87,988 $72,974 $15,014 

(1)Consists of DecisionDx-Melanoma, DecisionDx-SCC and our Diagnostic GEP offering.

(2)Consists of TissueCypher, DecisionDx-UM and IDgenetix. 

The following table presents the calculation of gross margin (in thousands, except percentages):

 Three Months EndedMarch 31, 20252024Change(unaudited)Net revenues$87,988 $72,974 $15,014 Less: Cost of sales (exclusive of amortization of acquired intangible assets)16,383 13,894 2,489 Less: Amortization of acquired intangible assets28,325 2,247 26,078 Gross margin$43,280 $56,833 $(13,553)Gross margin percentage49.2 %77.9 %(28.7)%

Net Revenues

Net revenues for the three months ended March 31, 2025 increased by $15.0 million, or 20.6%, to $88.0 million compared to the three months ended March 31, 2024, due to a $11.4 million increase in