Company: CSTL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001447362-25-000031
Chunk: 27

Company: CASTLE BIOSCIENCES INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 27
---
577)(11)(566)NMIncome (loss) before income taxes21,564 (57,365)78,929 137.6 %Income tax expense3,319 101 3,218 NMNet income (loss)$18,245 $(57,466)$75,711 131.7 %

(1) NA = Not applicable

(2) NM = Not meaningful

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

 Years Ended December 31, 20242023ChangeCost of sales (exclusive of amortization of acquired intangible assets)$5,529 $4,938 $591 Research and development9,598 10,119 (521)Selling, general and administrative35,193 36,162 (969)Total stock-based compensation expense$50,320 $51,219 $(899)

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

Years Ended December 31,20242023ChangeDermatologic(1)$256,996 $183,375 $73,621 Non-Dermatologic(2)75,073 36,413 38,660 Total net revenues$332,069 $219,788 $112,281 

(1)Consists of DecisionDx-Melanoma, DecisionDx-SCC and our Diagnostic Gene Expression Profile offering (MyPath Melanoma and DiffDx-Melanoma).

(2)Consists of TissueCypher, DecisionDx-UM and IDgenetix. 

84

The following table presents the calculation of gross margin (in thousands, except percentages):

 Years Ended December 31, 20242023ChangeNet revenues$332,069 $219,788 $112,281 Less: Cost of sales (exclusive of amortization of acquired intangible assets)60,205 44,982 15,223 Less: Amortization of acquired intangible assets11,106 9,013 2,093 Gross margin$260,758 $165,793 $94,965 Gross margin percentage78.5 %75.4 %3.1 %

Net Revenues

Net revenues for the year ended December 31, 2024 increased by $112.3 million, or 51.1%,