10-K · February 26, 2026
Castle Biosciences reported record net revenues of $344.229 million in 2025 and delivered 105,053 test reports for the year, while continuing to expand its product portfolio (including a limited AdvanceAD‑Tx launch in…
Earnings analysis · 10-Q
CSTL earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
Castle Biosciences reported a significant decline in Q1 2026 revenues, down 4.9% year-over-year to $83.7 million, with EPS reported at -$0.49. Despite this, management raised 2026 revenue guidance, reflecting confidence…
Read full summary
Castle Biosciences reported a significant decline in Q1 2026 revenues, down 4.9% year-over-year to $83.7 million, with EPS reported at -$0.49. Despite this, management raised 2026 revenue guidance, reflecting confidence in product test volume growth, particularly in dermatologic and non-dermatologic segments, although cash burn has increased significantly compared to the prior year.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.49
- Gross margin
- 72.8%
- Segment
- Dermatologic
- Segment
- Non-Dermatologic
What stood out
-
Q1 2026 Revenue Decline
Revenue decreased to $83.7M from $87.988M in Q1 2025, a drop of 4.9%.
-
EPS Improvement
EPS improved to -$0.49 from -$0.90 in Q1 2025.
-
Gross Margin Recovery
Gross margin increased to 72.8%, up from 49.2% year-over-year.
-
Non-Dermatologic Revenue Growth
Non-Dermatologic revenues increased by $17.5M due to a 58% increase in TissueCypher test report volumes.
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Guidance Raised
2026 revenue guidance increased to $345-355M from the previous range of $340-350M.
-
Test Report Volume Growth
Total test report volume rose by 10% from the prior year, driven particularly by the DecisionDx-Melanoma test.
What to watch
-
Increased Cash Burn
Net cash used in operating activities surged to $22.1M in Q1 2026 compared to $6.0M in Q1 2025.
-
Loss of Medicare Coverage Impact
Significant decrease in dermatologic test revenues attributed to the loss of Medicare coverage for DecisionDx-SCC.
-
High Operating Expenses
Operating expenses increased to $102.1M from $115.9M, primarily driven by higher costs in sales, marketing, and R&D.
Management's outlook
Revenue guidance raised for 2026 to $345M-$355M.
Earlier filings 4
10-Q · August 4, 2025
Castle Biosciences reported Q2 net revenues of $86,188 and diluted EPS of $0.15, with an operating loss of $(4,251) driven by higher operating expenses and amortization. Liquidity remains sizable but down versus…
10-K · February 27, 2025
Castle Biosciences continued to scale commercial volume and revenue in 2024, reporting net revenues of $332.069 million (as reported in the filing). The company emphasizes a dermatologic cancer‑anchored strategy…
10-Q · November 4, 2024
Castle Biosciences reported Q3 net revenues of $85,782,000 (3 months ended September 30, 2024), up $24,289,000 (39.5%) year-over-year from $61,493,000 and roughly flat sequentially versus the prior quarter. The company…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.