Company: CSTL
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001447362-25-000069
Chunk: 181

Company: CASTLE BIOSCIENCES INC
Filing Date: 2025-05-05
Form: 10-Q
Item: Item 2
Chunk 181
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 increases in operating expenditures. In part, the cash provided during the three months ended March 31, 2025 reflects the payment of annual cash bonuses to our employees as well as certain health care benefit payments totaling $22.5 million, that are not expected to recur during the remainder of 2025. In comparison, we paid $20.8 million during the same period in 2024 towards annual cash bonuses and certain health care benefits.

Investing Activities

Net cash used in investing activities was $22.4 million for the three months ended March 31, 2025 and consisted primarily of purchases of marketable investment securities of $48.4 million, purchases of debt securities classified as held-to-market of $5.6 million and purchases of property and equipment of $4.7 million, partially offset by the maturity of marketable investment securities of $36.3 million. 

Net cash used in investing activities was $19.7 million for the three months ended March 31, 2024 and consisted primarily of purchases of marketable investment securities of $60.8 million and purchases of property and equipment of $9.2 million, partially offset by the maturity of marketable investment securities of $50.2 million.

The $2.7 million increase in cash used in investing activities for the three months ended March 31, 2025 compared to the three months ended March 31, 2024 was primarily due to collecting $13.9 million fewer proceeds from maturing marketable investment securities and purchasing $5.6 million of debt securities classified as held-to-maturity, partially offset by decreases of $12.3 million in our purchases of marketable investment securities. Furthermore, our purchases of property and equipment decreased by $4.4 million for the three months ended March 31, 2025 compared to the three months ended March 31, 2024, primarily due to the timing of the purchase of land for $7.2 million which occurred in February 2024 with no comparable transaction during the three months ended March 31, 2025.

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Financing Activities

Net cash used in financing activities was $1.6 million for the three months ended March 31, 2025, and consisted primarily of the $2.5 million payment of employee taxes attributable to the vesting of Restricted Stock Units (“RSUs”), partially offset by the $1.0 million of proceeds from contributions to our 2019 Employee Stock Purchase Plan (the “