Company: CSTL
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-048254
Chunk: 22

Company: CASTLE BIOSCIENCES INC
Filing Date: 2025-11-03
Form: 10-Q
Item: Item 1
Chunk 22
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DENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)(UNAUDITED)

6. Property and Equipment, Net

Property and equipment, net consisted of the following (in thousands): September 30, 2025December 31, 2024Land$7,245 $7,245 Lab equipment31,767 23,633 Leasehold improvements14,810 14,616 Computer equipment5,542 5,306 Furniture and fixtures3,550 3,541 Construction-in-progress38,810 9,614 Total101,724 63,955 Less: Accumulated depreciation(16,839)(12,833)Property and equipment, net$84,885 $51,122 Depreciation expense was recorded in the condensed consolidated statements of operations as follows (in thousands):Three Months EndedSeptember 30,Nine Months EndedSeptember 30, 2025202420252024Cost of sales (exclusive of amortization of acquired intangible assets)$1,004 $766 $2,816 $2,058 Research and development90 89 279 258 Selling, general and administrative446 414 1,337 1,147 Total$1,540 $1,269 $4,432 $3,463 

7. Goodwill and Other Intangible Assets, Net

GoodwillWe had a single reporting unit where all goodwill was allocated for as of September 30, 2025 and December 31, 2024. The balance of our goodwill was $10.7 million as of September 30, 2025 and December 31, 2024. There were no accumulated impairments of goodwill as of September 30, 2025 or December 31, 2024.We had a single reportable segment consisting of a single operating segment where the operating segment and the single reporting unit were the same as of September 30, 2025 and December 31, 2024. See Note 15 for additional information on our reportable segment.Other Intangible Assets, NetOur other intangible assets, net consisted of the following (in thousands):September 30, 2025 Gross carrying valueAccumulated amortizationNetWeighted-Average Remaining Life (in years)Developed technology$153,500 $(62,474)$91,026 10.5Assembled workforce563 (431)132