Company: CSTL
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001447362-25-000069
Chunk: 105

Company: CASTLE BIOSCIENCES INC
Filing Date: 2025-05-05
Form: 10-Q
Item: Item 8
Chunk 105
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 of ContentsCASTLE BIOSCIENCES, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)(UNAUDITED)

Other Intangible Assets, NetOur other intangible assets, net consisted of the following (in thousands):March 31, 2025 Gross carrying valueAccumulated amortizationNetWeighted-Average Remaining Life (in years)Developed technology$125,317 $(58,293)$67,024 10.5Assembled workforce563 (375)188 1.7Total other intangible assets, net$125,880 $(58,668)$67,212 December 31, 2024 Gross carrying valueAccumulated amortizationNetWeighted-Average Remaining Life (in years)Developed technology$125,317 $(29,996)$95,321 8.0Assembled workforce563 (347)216 1.9Total other intangible assets, net$125,880 $(30,343)$95,537 During the first quarter of 2025, we made the decision to discontinue our IDgenetix test offering, effective May 2025. 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 during the three months ended March 31, 2025. Amortization expense of intangible assets was $28.3 million and $2.2 million for the three months ended March 31, 2025 and 2024, respectively.

8. Other Accrued and Current Liabilities

Other accrued and current liabilities consisted of the following (in thousands): March 31, 2025December 31, 2024Clinical studies$2,562 $2,580 Accrued service fees3,355 2,338 Accrued taxes1,280 1,076 Other1,172 1,999 Total$8,369 $7,993 

9. Long-Term Debt

Our long-term debt is presented in the table below (in thousands): March 31, 2025December 31, 2024Term debt$10,200 $10,200 Unamortized discount(168)(177)Total