Castle Biosciences(US:CSTL)2025-11-03 21:14Revenue Performance - Q3 2025 revenue was $83 million, a decrease from $85.8 million in Q3 2024[5] - Castle Biosciences reported net revenues of $83.043 million for the three months ended September 30, 2025, a decrease of 3.2% compared to $85.782 million in the same period of 2024[31] - Adjusted revenues for the three months ended September 30, 2025, were $80.545 million, down from $86.334 million in 2024, representing a decrease of about 6.5%[40] - Full-year 2025 revenue guidance raised to $327-335 million from $310-320 million[9] - Castle Biosciences expects total revenue guidance for 2025 to be between $327 million and $335 million[27] Profitability and Loss - Net loss for Q3 2025 was $0.5 million, compared to net income of $2.3 million in Q3 2024[7] - The company reported a net loss of $501,000 for the three months ended September 30, 2025, compared to a net income of $2.269 million in the same period of 2024[33] - Net loss for the nine months ended September 30, 2025, was $21.826 million, a significant decline from a net income of $8.655 million in the same period of 2024[37] - The company incurred an operating loss of $6.804 million for the three months ended September 30, 2025, compared to an operating income of $5.079 million in the same period of 2024[31] - The company’s comprehensive loss for the three months ended September 30, 2025, was $300,000, compared to comprehensive income of $2.914 million in the same period of 2024[33] Operating Expenses - Total operating expenses for the three months ended September 30, 2025, were $89.847 million, an increase of 11.4% from $80.703 million in the same period of 2024[31] - Stock-based compensation expense for the three months ended September 30, 2025, was $12.1 million, down from $13.027 million in the same period of 2024[32] Test Reports and Product Launches - Total test reports for core revenue drivers increased by 36% over Q3 2024, with DecisionDx-Melanoma and TissueCypher each surpassing 10,000 test reports for the first time in a single quarter[4] - The company launched AdvanceAD-Tx™, a test for guiding treatment decisions in patients with moderate-to-severe atopic dermatitis[1] - Total test reports delivered in the nine months ended September 30, 2025, were 77,817, compared to 72,000 in the same period of 2024[7] Cash and Assets - Cash, cash equivalents, and marketable investment securities totaled $287.5 million as of September 30, 2025[8] - Total assets increased to $562.786 million as of September 30, 2025, compared to $531.235 million on December 31, 2024, reflecting a growth of approximately 5.0%[35] - Cash and cash equivalents decreased to $85.556 million at the end of the period from $119.709 million at the beginning, a decline of approximately 28.3%[37] Liabilities - Total current liabilities increased to $55.308 million as of September 30, 2025, compared to $49.392 million on December 31, 2024, reflecting an increase of about 12.3%[35] - The company’s total liabilities rose to $95.740 million as of September 30, 2025, compared to $75.400 million at the end of 2024, marking an increase of approximately 27.0%[35] EBITDA - Adjusted EBITDA for Q3 2025 was $9.2 million, down from $21.6 million in Q3 2024[7] - Adjusted EBITDA for the nine months ended September 30, 2025, was not explicitly stated but is calculated by excluding certain expenses from net income, which was a loss of $21.826 million[31][32] - Adjusted EBITDA for the nine months ended September 30, 2025, was $32.546 million, down from $53.730 million in 2024, a decrease of approximately 39.4%[44] Gross Margin - Gross margin for Q3 2025 was 75%, down from 79% in Q3 2024[7] - The company reported a gross margin (GAAP) of 74.7% for the three months ended September 30, 2025, down from 79.2% in 2024[40] - Adjusted gross margin percentage for the three months ended September 30, 2025, was 76.8%, compared to 81.9% in 2024, indicating a decline of 5.1 percentage points[40]