Financial Data and Key Metrics Changes - The company reported fourth-quarter revenue of $66.1 million, a 72% increase over the fourth quarter of 2022, and full-year revenue of $219.8 million, a 60% increase compared to 2022 [70][60][45] - The gross margin for the fourth quarter was 77.8%, compared to 69.4% in the fourth quarter of 2022, and for the full year, it was 75.4%, compared to 70.6% in 2022 [55][70] - The net loss for the fourth quarter was $2.6 million, significantly improved from a net loss of $20.6 million in the same quarter of 2022, and the full-year net loss was $57.5 million, compared to $67.1 million in 2022 [74][70] Business Line Data and Key Metrics Changes - The DecisionDx-melanoma test delivered 33,330 test reports in 2023, a 20% year-over-year increase, while DecisionDx-SCC saw 11,442 test reports, a 92% increase compared to 2022 [89][65] - The TissueCypher test reports increased to 9,100 in 2023, representing over 300% growth from 2,128 reports in 2022 [92][66] - The IDgenetix test reports grew to 10,921 in 2023, compared to 3,249 in 2022, marking more than 200% growth [53] Market Data and Key Metrics Changes - The company highlighted that the use of DecisionDx-SCC could save the Medicare trust fund approximately $972 million annually by guiding decisions on adjuvant radiation therapy [51] - The company noted that 99% of patients tested with DecisionDx-SCC are eligible for adjuvant radiation therapy, indicating a significant market opportunity [117] Company Strategy and Development Direction - The company plans to expand its commercial team for TissueCypher modestly in the second quarter of 2024, reflecting confidence in continued growth [92] - The company aims to launch a genomic test for atopic dermatitis by the end of 2025, pending successful development and validation [94] - The company is focused on maintaining a strong financial position to continue investing in growth initiatives and expanding its commercial team [102] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a net positive cash flow from operations target in 2025, despite pressures from inflation and operating costs [12][14] - The company anticipates total revenue for 2024 to be between $235 million and $240 million, driven by consistent execution on growth plans [96] - Management acknowledged the potential impact of reimbursement challenges on gross margins but maintained that adjusted gross margins should remain stable if appropriate coverage is in place [118] Other Important Information - The company opened a new laboratory in Pittsburgh, Pennsylvania, and received advanced diagnostic laboratory test status for its DecisionDx-SCC test, bringing the total to five tests designated as ADLTs [60] - The company reported a significant increase in stock-based compensation expense, which is expected to continue in future periods [73] Q&A Session Summary Question: What is the outlook for OpEx growth in 2024? - Management indicated that OpEx growth will be lower than revenue growth, but inflationary pressures are real and will impact costs [12][14] Question: How confident is the company in achieving net positive cash from operations in 2025? - Management reiterated confidence in achieving the previously set target, emphasizing financial discipline [12][14] Question: What are the expectations for the reimbursement landscape? - Management noted uncertainty regarding reimbursement for tests but emphasized the importance of their tests in improving patient outcomes and reducing healthcare costs [26][81] Question: Can you provide updates on the TissueCypher sales force expansion? - Management confirmed plans for modest expansion of the TissueCypher sales force in the second quarter of 2024, but specific numbers were not disclosed [28][92] Question: What is the expected impact of the Novitas LCD on the company's tests? - Management stated that if the Novitas LCD finalizes as is, it would impact reimbursement and potentially lead to a reevaluation of test availability [26][26]

Castle Biosciences, Inc. (CSTL) reported $66.12 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 72.5%. EPS of -$0.10 for the same period compares to -$0.78 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $51.32 million, representing a surprise of +28.85%. The company delivered an EPS surprise of +88.10%, with the consensus EPS estimate being -$0.84.While investors scrutinize revenue and earnings changes year-over-year and how they ...

Castle Biosciences, Inc. (CSTL) came out with a quarterly loss of $0.10 per share versus the Zacks Consensus Estimate of a loss of $0.84. This compares to loss of $0.78 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 88.10%. A quarter ago, it was expected that this company would post a loss of $0.92 per share when it actually produced a loss of $0.26, delivering a surprise of 71.74%.Over the last four quarters, the company has ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number: 001-38984 CASTLE BIOSCIENCES, INC. (Exact name of registrant as specified in its charter) Delaware ...

FRIENDSWOOD, Texas--(BUSINESS WIRE)--Castle Biosciences, Inc. (Nasdaq: CSTL), a company improving health through innovative tests that guide patient care, today announced the publication of a study in Cancers1 demonstrating that DecisionDx-Melanoma provided significantly better risk stratification than American Joint Committee on Cancer 8th Edition (AJCC8) staging in patients with stage I cutaneous melanoma (CM). This study reports the results of two large stage I cohorts, including 5,651 patients from the ...

FRIENDSWOOD, Texas--(BUSINESS WIRE)--Castle Biosciences, Inc. (Nasdaq: CSTL), a company improving health through innovative tests that guide patient care, today announced that it will release its financial results for the fourth quarter and year ended Dec. 31, 2023, after the close of market on Wednesday, Feb. 28, 2024. Company management will host a conference call and webcast to discuss its financial results at 4:30 p.m. Eastern time on the same day. Conference Call and Webcast Details A live webcast o ...

FRIENDSWOOD, Texas--(BUSINESS WIRE)--Castle Biosciences, Inc. (Nasdaq: CSTL), a company improving health through innovative tests that guide patient care, today announced the publication of a new study1 in The Journal of Clinical and Aesthetic Dermatology (JCAD) which found that using its DecisionDx-SCC test to guide ART decisions for patients with SCC could result in substantial Medicare healthcare savings of up to approximately $972 million annually. “The implications of this study are significant, as ...

FRIENDSWOOD, Texas--(BUSINESS WIRE)--Castle Biosciences, Inc. (Nasdaq: CSTL), a company improving health through innovative tests that guide patient care, will present new data across its dermatologic portfolio of commercially available and pipeline gene expression profile (GEP) tests at the 2024 Winter Clinical Dermatology Conference - Hawaii, being held Jan. 12-17 in Honolulu, Hawaii. “We are committed to challenging current disease management paradigms and building the evidence supporting our portfoli ...

FRIENDSWOOD, Texas--(BUSINESS WIRE)--Castle Biosciences, Inc. (Nasdaq: CSTL), a company improving health through innovative tests that guide patient care, today announced that its Chief Operating Officer, Kristen Oelschlager, has been named to The Healthcare Technology Report’s Top 25 Women Leaders in Biotechnology of 2023. The honorees “stand as a driving force, ensuring diverse perspectives on scientific breakthroughs and groundbreaking therapies,” according to the publication. “Their achievements serve a ...

FRIENDSWOOD, Texas--(BUSINESS WIRE)--Castle Biosciences, Inc. (Nasdaq: CSTL), a company improving health through innovative tests that guide patient care, today announced certain unaudited preliminary performance results for the fourth quarter and year ended Dec. 31, 2023. “Our fourth quarter was the culmination of an exceptional year, where we delivered consistent, strong growth in both revenue and test volume,” said Derek Maetzold, president and chief executive officer of Castle Biosciences. “Our perfo ...