$CSTL

CASTLE BIOSCIENCES INC

CIK:0001447362|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
NET REVENUES	$ 103,546	$ 86,188	$ 187,225	$ 174,176
OPERATING EXPENSES
Cost of sales (exclusive of amortization of acquired intangible assets)	23,700	17,626	44,233	34,009
Research and development	14,543	12,787	28,971	25,375
Selling, general and administrative	66,122	58,065	131,021	116,685
Amortization of acquired intangible assets	2,251	1,961	4,477	30,286
Total operating expenses, net	106,616	90,439	208,702	206,355
Operating loss	(3,070)	(4,251)	(21,477)	(32,179)
Interest income	2,356	2,944	4,901	6,043
Net (losses) gains on equity securities	(630)	1,185	1,392	(240)
Interest expense	(193)	(21)	(327)	(38)
Other loss	(153)	0	(592)	0
Loss before income taxes	(1,690)	(143)	(16,103)	(26,414)
Income tax expense (benefit)	370	(4,666)	479	(5,089)
Net (loss) income	$ (2,060)	$ 4,523	$ (16,582)	$ (21,325)
(Loss) income per share, basic (in dollars per share)	$ (0.07)	$ 0.16	$ (0.55)	$ (0.74)
(Loss) income per share, diluted (in dollars per share)	$ (0.07)	$ 0.15	$ (0.55)	$ (0.74)
Weighted-average shares outstanding, basic (in shares)	30,399	28,914	30,148	28,763
Weighted-average shares outstanding, diluted (in shares)	30,399	29,545	30,148	28,763

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES
Net loss	$ (16,582)	$ (21,325)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	7,999	33,178
Stock-based compensation expense	21,365	22,387
Net (gains) losses on equity securities	(1,392)	240
Deferred income taxes	(13)	(5,437)
Accretion of discounts on marketable investment securities	(846)	(2,606)
Other	767	219
Change in operating assets and liabilities:
Accounts receivable	(4,742)	(1,307)
Prepaid expenses and other current assets	(7,544)	(4,696)
Inventory	(326)	(231)
Operating lease assets	599	664
Other assets	(788)	(13)
Accounts payable	886	1,689
Operating lease liabilities	(231)	(869)
Accrued compensation	(11,394)	(7,582)
Other accrued and current liabilities	5,314	474
Net cash (used in) provided by operating activities	(6,928)	14,785
INVESTING ACTIVITIES
Purchases of marketable investment securities	(109,622)	(92,832)
Proceeds from maturities of marketable investment securities	80,100	80,300
Proceeds from maturities of debt securities classified as held-to-maturity	5,600	0
Purchases of debt securities classified as held-to-maturity	0	(5,569)
Proceeds from sale of equity securities	3,248	0
Asset acquisition, net of cash and cash equivalents acquired	0	(18,726)
Purchases of property and equipment	(21,105)	(14,003)
Proceeds from sale of property and equipment	13	21
Net cash used in investing activities	(41,766)	(50,809)
FINANCING ACTIVITIES
Proceeds from exercise of common stock options	417	37
Payment of employees’ taxes on vested restricted stock units and performance-based restricted stock units	(7,391)	(3,104)
Proceeds from contributions to the employee stock purchase plan	2,103	1,482
Payment of contingent consideration	(1,000)	0
Repayment of principal portion of finance lease liabilities	(48)	(57)
Proceeds from lease incentives received	0	190
Net cash used in financing activities	(5,919)	(1,452)
NET CHANGE IN CASH AND CASH EQUIVALENTS	(54,613)	(37,476)
Beginning of period	116,729	119,709
End of period	62,116	82,233
DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Asset acquisition, liability for contingent consideration	0	2,500
Accrued purchases of property and equipment	1,034	6,822
Property and equipment acquired with tenant improvement allowance	0	7,224
Operating lease assets obtained in exchange for lease obligations	0	4,687
Decrease in operating lease assets with corresponding change in lease liabilities	0	(104)
Finance lease assets obtained in exchange for lease obligations	$ 4	$ 119

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 62,116	$ 116,729
Marketable investment securities	204,689	182,776
Accounts receivable, net	48,341	43,382
Inventory	10,580	10,254
Prepaid expenses and other current assets	15,374	7,956
Total current assets	341,100	361,097
Long-term accounts receivable, net	1,661	1,878
Property and equipment, net	104,682	97,443
Operating lease assets	14,196	14,795
Goodwill and other intangible assets, net	95,096	99,574
Other assets – long-term	4,442	3,769
Total assets	561,177	578,556
Current Liabilities
Accounts payable	9,668	18,711
Accrued compensation	26,893	38,287
Contingent consideration	1,500	1,000
Operating lease liabilities	1,417	1,325
Current portion of long-term debt	2,917	417
Other accrued and current liabilities	14,114	8,937
Total current liabilities	56,509	68,677
Long-term debt	7,158	9,640
Noncurrent portion of contingent consideration	0	1,500
Noncurrent operating lease liabilities	24,894	25,217
Noncurrent finance lease liabilities	264	314
Deferred tax liability	2,322	2,335
Total liabilities	91,147	107,683
Commitments and Contingencies (Note 12)
Stockholders’ Equity
Preferred stock, $0.001 par value per share; 10,000,000 shares authorized as of June 30, 2026 and December 31, 2025; no shares issued and outstanding as of June 30, 2026 and December 31, 2025	0	0
Common stock, $0.001 par value per share; 200,000,000 shares authorized as of June 30, 2026 and December 31, 2025; 30,508,534 and 29,686,314 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	31	30
Additional paid-in capital	711,121	694,860
Accumulated deficit	(240,866)	(224,284)
Accumulated other comprehensive (loss) income	(256)	267
Total stockholders’ equity	470,030	470,873
Total liabilities and stockholders’ equity	$ 561,177	$ 578,556