Company: CSTL
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001447362-25-000097
Chunk: 145

Company: CASTLE BIOSCIENCES INC
Filing Date: 2025-08-04
Form: 10-Q
Item: Item 8
Chunk 145
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ulomics. 

Stock-Based Compensation Expense

Stock-based compensation expense, which is allocated among cost of sales, research and development expense and SG&A expense totaled $11.2 million and $13.2 million for the three months ended June 30, 2025 and 2024, respectively. We expect stock-based compensation expense will continue to be material in future periods, 

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attributable to both existing awards outstanding and anticipated additional grants to our current and future employees. As of June 30, 2025, we had 798 employees, compared to 703 as of June 30, 2024. As of June 30, 2025, the total unrecognized stock-based compensation cost related to outstanding awards was $80.5 million, which is expected to be recognized over a weighted-average period of 2.5 years.

Comparison of the Six Months Ended June 30, 2025 and 2024

The following table summarizes our results of operations for the periods indicated (in thousands, except percentages):

 Six Months EndedJune 30,Change 20252024(unaudited)Net revenues$174,176 $159,976 $14,200 8.9 %Operating expensesCost of sales (exclusive of amortization of acquired intangible assets)34,009 28,413 5,596 19.7 %Research and development25,375 27,945 (2,570)(9.2)%Selling, general and administrative116,685 99,583 17,102 17.2 %Amortization of acquired intangible assets30,286 4,494 25,792 573.9 %Total operating expenses, net206,355 160,435 45,920 28.6 %Operating loss(32,179)(459)(31,720)NMInterest income6,043 6,140 (97)(1.6)%Changes in fair value of trading securities(240)— (240)NAInterest expense(38)(284)246 86.6 %(Loss) income before income taxes(26,414)5,397 (31,811)(589.4)%Income tax benefit(5,089)(989)(4,100)(414.6)%Net (loss) income$(21,325)$6,386 $(27,711)(433.9)%

NA = Not applicable

NM = Not meaningful

The following table indicates