Company: CSTL
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-048254
Chunk: 6

Company: CASTLE BIOSCIENCES INC
Filing Date: 2025-11-03
Form: 10-Q
Item: Item 1
Chunk 6
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ATED STATEMENTS OF CASH FLOWS (CONTINUED)(UNAUDITED)(in thousands)

Nine Months EndedSeptember 30,20252024DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:Asset acquisition, liability for contingent consideration$2,500 $— Accrued purchases of property and equipment$4,446 $1,570 Operating lease assets obtained in exchange for lease obligations$4,687 $607 Decrease in operating lease assets with corresponding change in lease liabilities$(104)$(7)Finance lease assets obtained in exchange for lease obligations$119 $166 Property and equipment acquired with tenant improvement allowance$7,224 $1,389 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.7

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

1. Organization and Description of Business

Castle Biosciences, Inc. (the “Company,” “we,” “us” or “our”) was incorporated in the state of Delaware on September 12, 2007. We are a commercial-stage diagnostics company focused on providing clinicians and their patients with personalized, clinically actionable information to inform treatment decisions and improve health outcomes. We are based in Friendswood, Texas (a suburb of Houston, Texas) and our laboratory operations are conducted at our facilities located in Phoenix, Arizona and Pittsburgh, Pennsylvania.

2. Summary of Significant Accounting Policies

Basis of PresentationOur unaudited condensed consolidated financial statements include the accounts of Castle Biosciences, Inc. and our wholly owned subsidiaries and have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP’’). All intercompany accounts and transactions have been eliminated in consolidation.We have a history of recurring net losses and negative cash flows and as of September 30, 2025, we had an accumulated deficit of $222.0 million. We believe our $85.6 million of cash and cash equivalents and $202.0 million of marketable investment securities as of September 30, 2025, and anticipated revenue from our test reports, will be sufficient to meet our cash requirements through at least the 12-month period following the date that these unaudited condensed consolidated financial statements were issued.Unaudited Interim Financial InformationThe accompanying condensed consolidated balance sheet as of September 30,