Castle Biosciences Inc (NAS:CSTL)
$ 16.72 +0.18 (+1.09%) Market Cap: 482.75 Mil Enterprise Value: 228.24 Mil PE Ratio: 0 PB Ratio: 1.09 GF Score: 61/100
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Q4 2024 Castle Biosciences Inc Earnings Call Transcript

Feb 27, 2025 / 09:30PM GMT
Release Date Price: $25.28 (-2.92%)

Key Points

Positve
  • Castle Biosciences Inc (CSTL) reported a 51% year-over-year revenue growth, reaching $332.1 million for the full year 2024.
  • The company achieved a 36% increase in total test report volume in 2024 compared to 2023.
  • Castle Biosciences Inc (CSTL) ended 2024 with $293.1 million in cash, cash equivalents, and marketable investment securities, a $50 million increase over the previous year.
  • The TissueCypher test saw a 130% growth in test report volume in 2024, with positive reception from the gastroenterology community.
  • Castle Biosciences Inc (CSTL) achieved a net income of $18.2 million for 2024, compared to a net loss of $57.5 million in 2023.
Negative
  • The DecisionDx-SCC test faces potential noncoverage by Medicare starting April 24, 2025, which could impact revenue.
  • Gross margin decreased slightly in the fourth quarter of 2024 to 76.2% from 77.8% in the same period of 2023.
  • The company anticipates a decrease in IDgenetix test report volumes and net revenues in 2025 due to market changes.
  • Castle Biosciences Inc (CSTL) expects typical seasonality to affect the first quarter of 2025, potentially leading to flat or slightly down volumes compared to the fourth quarter of 2024.
  • The company faces challenges in expanding the use of DecisionDx-Melanoma in academic centers due to the absence of guideline inclusion.
Operator

Good afternoon, and welcome to Castle Biosciences fourth quarter and full year 2024 conference call. As a reminder, today's call is being recorded. We will begin today's call with opening remarks and introductions, followed by a question-and-answer session.

I would like to turn the call over to Camilla Zuckero, Vice President of Investor Relations and Corporate Affairs. Please go ahead.

Camilla Zickereux
Castle Biosciences Inc - Vice President, Investor Relations

Thank you, Operator. Good afternoon, everyone. Welcome to Castle Biosciences Fourth Quarter and Full Year 2024 Results Conference Call. Joining me today is Castle's Founder, President and Chief Executive Officer, Derek Maetzgold; and Chief Financial Officer, Frank Stokes.

Information recorded on this call speaks only as of today, February 27, 2025. Therefore, if you are listening to the replay or reading the transcript of this call, any time-sensitive information may no longer be accurate. A recording of today's call will be available on the Investor Relations page of the company's

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