$CSTL
CASTLE BIOSCIENCES INC

2024 Q2 Form 10-Q Financial Statement

#000144736224000060 Filed on May 02, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $87.00M $72.97M
YoY Change 73.53% 73.59%
Cost Of Revenue $14.52M $13.89M
YoY Change 31.3% 36.46%
Gross Profit $72.48M $59.08M
YoY Change 85.47% 85.47%
Gross Profit Margin 83.31% 80.96%
Selling, General & Admin $51.09M $48.50M
YoY Change 15.12% 3.71%
% of Gross Profit 70.48% 82.08%
Research & Development $14.14M $13.81M
YoY Change 6.89% -4.06%
% of Gross Profit 19.5% 23.37%
Depreciation & Amortization $1.101M $3.340M
YoY Change -63.78% 15.49%
% of Gross Profit 1.52% 5.65%
Operating Expenses $65.22M $62.30M
YoY Change 8.28% 1.88%
Operating Profit $5.012M -$5.471M
YoY Change -123.69% -82.64%
Interest Expense $216.0K $14.00K
YoY Change -90.98% 250.0%
% of Operating Profit 4.31%
Other Income/Expense, Net
YoY Change
Pretax Income $7.886M -$2.489M
YoY Change -142.03% -91.47%
Income Tax -$1.034M $45.00K
% Of Pretax Income -13.11%
Net Earnings $8.920M -$2.534M
YoY Change -147.5% -91.32%
Net Earnings / Revenue 10.25% -3.47%
Basic Earnings Per Share $0.32 -$0.09
Diluted Earnings Per Share $0.31 -$0.09
COMMON SHARES
Basic Shares Outstanding 27.61M shares 27.45M shares
Diluted Shares Outstanding 28.74M shares 27.49M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $259.7M $239.2M
YoY Change 15.16% 3.1%
Cash & Equivalents $85.60M $82.90M
Short-Term Investments $174.1M $156.3M
Other Short-Term Assets $6.716M $6.221M
YoY Change 9.9% -8.47%
Inventory $8.013M $7.645M
Prepaid Expenses
Receivables $45.99M $42.70M
Other Receivables $0.00 $0.00
Total Short-Term Assets $320.4M $295.8M
YoY Change 19.09% 9.1%
LONG-TERM ASSETS
Property, Plant & Equipment $50.26M $44.87M
YoY Change 56.81% 145.78%
Goodwill $10.70M $10.70M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.683M $1.720M
YoY Change 125.46% 117.17%
Total Long-Term Assets $166.9M $162.7M
YoY Change 6.75% 4.45%
TOTAL ASSETS
Total Short-Term Assets $320.4M $295.8M
Total Long-Term Assets $166.9M $162.7M
Total Assets $487.3M $458.5M
YoY Change 14.55% 7.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.540M $9.318M
YoY Change 33.71% -6.46%
Accrued Expenses $26.97M $20.30M
YoY Change 17.34% 18.13%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $39.45M $31.96M
YoY Change 17.02% 6.02%
LONG-TERM LIABILITIES
Long-Term Debt $10.01M $10.00M
YoY Change 21193.62% 18081.82%
Other Long-Term Liabilities $13.65M $16.00K
YoY Change 9.8% -70.91%
Total Long-Term Liabilities $10.01M $10.02M
YoY Change -19.77% 18110.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $39.45M $31.96M
Total Long-Term Liabilities $10.01M $10.02M
Total Liabilities $63.42M $56.05M
YoY Change 36.0% 34.27%
SHAREHOLDERS EQUITY
Retained Earnings -$212.0M -$220.9M
YoY Change 1.48% 16.2%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $423.9M $402.5M
YoY Change
Total Liabilities & Shareholders Equity $487.3M $458.5M
YoY Change 14.55% 7.41%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $8.920M -$2.534M
YoY Change -147.5% -91.32%
Depreciation, Depletion And Amortization $1.101M $3.340M
YoY Change -63.78% 15.49%
Cash From Operating Activities $24.00M -$6.835M
YoY Change -733.86% -73.13%
INVESTING ACTIVITIES
Capital Expenditures $5.229M $9.152M
YoY Change 29.59% 174.18%
Acquisitions
YoY Change
Other Investing Activities -$16.19M -$10.55M
YoY Change 42.6% -152.95%
Cash From Investing Activities -$21.42M -$19.70M
YoY Change 39.19% -218.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 42.00K $10.64M
YoY Change -81.42% 1362.09%
NET CHANGE
Cash From Operating Activities 24.00M -$6.835M
Cash From Investing Activities -21.42M -$19.70M
Cash From Financing Activities 42.00K $10.64M
Net Change In Cash 2.623M -$15.89M
YoY Change -113.84% 95.55%
FREE CASH FLOW
Cash From Operating Activities $24.00M -$6.835M
Capital Expenditures $5.229M $9.152M
Free Cash Flow $18.77M -$15.99M
YoY Change -339.98% -44.45%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant items subject to such estimates include revenue recognition, the valuation of stock-based compensation, assessing future tax exposure and the realizability of deferred tax assets, the useful lives and recoverability of long-lived assets, the goodwill impairment test, the valuation of acquired intangible assets and the valuation of contingent consideration and other contingent liabilities. We base these estimates on historical and anticipated results, trends, and various other assumptions that we believe are reasonable under the circumstances, including assumptions as to future events. These estimates form the basis for making judgments about the carrying values of assets and liabilities and recorded revenues and expenses that are not readily apparent from other sources. Actual results could differ from those estimates and assumptions.
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
Cash deposits at financial institutions may exceed the amount of insurance provided by the FDIC. Management believes that we are not exposed to significant credit risk on our cash deposits due to the financial position of the financial institutions in which deposits are held.
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2024Q1 cstl Contract With Customer Payment Terms
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CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7088000 shares
CY2024Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
156374000 usd
CY2024Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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15000 usd
CY2024Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
125000 usd
CY2024Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
156264000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
144122000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
143000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
7000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
144258000 usd
CY2024Q1 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0 usd
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
6744000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
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CY2024Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
32904000 usd
CY2023Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
25433000 usd
CY2024Q1 cstl Property Plant And Equipment Acquisition Of Land
PropertyPlantAndEquipmentAcquisitionOfLand
23 acre
CY2024Q1 us-gaap Depreciation
Depreciation
1093000 usd
CY2023Q1 us-gaap Depreciation
Depreciation
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Goodwill
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CY2023Q4 us-gaap Goodwill
Goodwill
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CY2023Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
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0 usd
CY2024Q1 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
0 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
125880000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
21484000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
104396000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
125880000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
19237000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
106643000 usd
CY2024Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2200000 usd
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2200000 usd
CY2024Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3358000 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2097000 usd
CY2024Q1 cstl Accrued Clinical Studies Current
AccruedClinicalStudiesCurrent
2344000 usd
CY2023Q4 cstl Accrued Clinical Studies Current
AccruedClinicalStudiesCurrent
3475000 usd
CY2024Q1 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
276000 usd
CY2023Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
896000 usd
CY2024Q1 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
766000 usd
CY2023Q4 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
849000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3172130 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
35.54
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
0 usd
CY2024Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
10200000 usd
CY2024Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
200000 usd
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
10000000 usd
CY2024Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
0 usd
CY2024Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
10000000 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
278000 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
3333000 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
3333000 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
3056000 usd
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
10000000 usd
CY2024Q1 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
12000 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
0 usd
CY2023Q1 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
0 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3208979 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
35.38
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
19066 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.40
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
17783 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
42.09
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y3M18D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
9814000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2703995 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
33.70
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y1M6D
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
9764000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
200000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
700000 usd
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12675000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13525000 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
103100000 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y6M
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.110
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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0001447362-24-000060-xbrl.zip Edgar Link pending
cstl-20240331.htm Edgar Link pending
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exhibit102-firstamendmentt.htm Edgar Link pending
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