Company: CSTL
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001447362-25-000097
Chunk: 21

Company: CASTLE BIOSCIENCES INC
Filing Date: 2025-08-04
Form: 10-Q
Item: Item 1
Chunk 21
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, 2024 Gross carrying valueAccumulated amortizationNetWeighted-Average Remaining Life (in years)Developed technology$125,317 $(29,996)$95,321 8.0Assembled workforce563 (347)216 1.9Total other intangible assets, net$125,880 $(30,343)$95,537 During the first quarter of 2025, we made the decision to discontinue our IDgenetix test offering, effective May 2025. As a result of this decision, we further revised the estimated useful life of the asset and determined that the intangible asset should be fully amortized as of March 31, 2025. This change resulted in an acceleration of amortization expense of approximately $20.1 million.In connection with the acquisition of Capsulomics, and in accordance with ASC 805, we determined that substantially all of the fair value of the gross assets acquired was concentrated in a single identifiable asset; therefore, the transaction was accounted for as an asset acquisition. The acquired intangible asset consists of developed technology and is valued at $28.2 million with an estimated useful life of 12 years and is being amortized on a straight-line basis.Amortization expense of intangible assets was $2.0 million and $30.3 million for the three and six months ended June 30, 2025, respectively, and $2.2 million and $4.5 million for the three and six months ended June 30, 2024 respectively.

8. Other Accrued and Current Liabilities

Other accrued and current liabilities consisted of the following (in thousands): June 30, 2025December 31, 2024Clinical studies$2,204 $2,580 Accrued service fees2,986 2,338 Accrued taxes1,193 1,076 ESPP Contributions969 1,225 Other869 774 Total$8,221 $7,993 

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Table of ContentsCASTLE BIOSCIENCES, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)(UNAUDITED)

9. Long-Term Debt

Our long-term debt is presented in the table below (in thousands): June 30, 2025December 31, 2024Term debt$10,200 $10,200 Unamortized discount(160