Company: CSTL
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-048254
Chunk: 151

Company: CASTLE BIOSCIENCES INC
Filing Date: 2025-11-03
Form: 10-Q
Item: Item 8
Chunk 151
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 and anticipated additional grants to our current and future employees. As of September 30, 2025, we had 823 employees, compared to 710 as of September 30, 2024. As of September 30, 2025, the total unrecognized stock-based compensation cost related to outstanding awards was $69.6 million, which is expected to be recognized over a weighted-average period of 2.3 years.

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Comparison of the Nine Months Ended September 30, 2025 and 2024

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