Company: CSTL
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001447362-25-000097
Chunk: 141

Company: CASTLE BIOSCIENCES INC
Filing Date: 2025-08-04
Form: 10-Q
Item: Item 8
Chunk 141
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2028 if not utilized to offset state taxable income.

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Results of Operations

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

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

 Three Months EndedJune 30,Change 20252024(unaudited)Net revenues$86,188 $87,002 $(814)(0.9)%Operating expensesCost of sales (exclusive of amortization of acquired intangible assets)17,626 14,519 3,107 21.4 %Research and development12,787 14,136 (1,349)(9.5)%Selling, general and administrative58,065 51,088 6,977 13.7 %Amortization of acquired intangible assets1,961 2,247 (286)(12.7)%Total operating expenses, net90,439 81,990 8,449 10.3 %Operating (loss) income(4,251)5,012 (9,263)(184.8)%Interest income2,944 3,144 (200)(6.4)%Changes in fair value of trading securities1,185 — 1,185 NAInterest expense(21)(270)249 92.2 %(Loss) income before income taxes(143)7,886 (8,029)(101.8)%Income tax benefit(4,666)(1,034)(3,632)(351.3)%Net income$4,523 $8,920 $(4,397)(49.3)%

NA = Not applicable

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

Three Months EndedJune 30,20252024Change(unaudited)Cost of sales (exclusive of amortization of acquired intangible assets)$1,422 $1,401 $21 Research and development1,962 2,637 (675)Selling, general and administrative7,824 9,141 (1,317)Total stock-based compensation expense$11,208 $13,179 $(1,971)

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

Three Months EndedJune 30,20252024Change(unaudited)Dermatologic(1)$