Company: CSTL
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-048254
Chunk: 200

Company: CASTLE BIOSCIENCES INC
Filing Date: 2025-11-03
Form: 10-Q
Item: Item 2
Chunk 200
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4

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

 Nine Months EndedSeptember 30,Change 20252024(unaudited)NET REVENUES$257,219 $245,758 $11,461 4.7 %OPERATING EXPENSESCost of sales (exclusive of amortization of acquired intangible assets)52,713 44,022 8,691 19.7 %Research and development38,335 40,268 (1,933)(4.8)%Selling, general and administrative172,592 150,082 22,510 15.0 %Amortization of acquired intangible assets32,562 6,766 25,796 381.3 %Total operating expenses, net296,202 241,138 55,064 22.8 %Operating (loss) income(38,983)4,620 (43,603)(943.8)%Interest income8,876 9,544 (668)(7.0)%Changes in fair value of equity securities3,321 — 3,321 NAInterest expense(62)(485)423 87.2 %Other expense48 — 48 NA(Loss) income before income taxes(26,800)13,679 (40,479)(295.9)%Income tax (benefit) expense(4,974)5,024 (9,998)(199.0)%Net (loss) income$(21,826)$8,655 $(30,481)(352.2)%

NA = Not applicable

The following table indicates the amount of stock-based compensation expense (non-cash) reflected in the line items above (in thousands):

Nine Months EndedSeptember 30,20252024Change(unaudited)Cost of sales (exclusive of amortization of acquired intangible assets)$4,324 $4,179 $145 Research and development5,807 7,611 (1,804)Selling, general and administrative24,356 27,091 (2,735)Total stock-based compensation expense$34,487 $38,881 $(4,394)

The following table provides a disaggregation of net revenues by type (in thousands):

Nine Months EndedSeptember 30,20252024Change(unaudited)Dermatologic(1)$167,782