Castle Biosciences Financials
This page shows Castle Biosciences (CSTL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Castle’s business model throws off high gross profit, but selling overhead and amortization decide whether GAAP results look profitable.
From FY2024 to FY2025, revenue grew just3.7% while SG&A rose about$29.3M , so added sales did not absorb the commercial cost base. Yet operating cash flow stayed near$64M and free cash flow remained positive at$28.3M , which suggests the earnings reversal was more an accounting-margin squeeze than a break in cash generation.
A gross margin of
The balance sheet still looks self-financed, with
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Castle Biosciences's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Castle Biosciences has an operating margin of -12.4%, meaning the company retains $-12 of operating profit per $100 of revenue. This below-average margin results in a low score of 28/100, suggesting thin profitability after operating expenses. This is down from 2.6% the prior year.
Castle Biosciences's revenue grew a modest 3.7% year-over-year to $344.2M. This slow but positive growth earns a score of 86/100.
Castle Biosciences carries a low D/E ratio of 0.02, meaning only $0.02 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 87/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 5.26, Castle Biosciences holds $5.26 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 91/100.
Castle Biosciences has a free cash flow margin of 8.2%, earning a moderate score of 51/100. The company generates positive cash flow after capital investments, but with room for improvement.
Castle Biosciences's ROE of -5.1% shows moderate profitability relative to equity, earning a score of 30/100. This is down from 4.0% the prior year.
Castle Biosciences scores 4.72, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($772.8M) relative to total liabilities ($107.7M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Castle Biosciences passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Castle Biosciences generates $-2.66 in operating cash flow ($64.3M OCF vs -$24.2M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Castle Biosciences earns $-497.8 in operating income for every $1 of interest expense (-$42.8M vs $86K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Castle Biosciences generated $344.2M in revenue in fiscal year 2025. This represents an increase of 3.7% from the prior year.
Castle Biosciences's EBITDA was -$2.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 108.3% from the prior year.
Castle Biosciences reported -$24.2M in net income in fiscal year 2025. This represents a decrease of 232.4% from the prior year.
Castle Biosciences earned $-0.83 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 233.9% from the prior year.
Cash & Balance Sheet
Castle Biosciences generated $28.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 22.5% from the prior year.
Castle Biosciences held $116.7M in cash against $9.6M in long-term debt as of fiscal year 2025.
Castle Biosciences paid $0.00 per share in dividends in fiscal year 2025.
Castle Biosciences had 30M shares outstanding in fiscal year 2025. This represents an increase of 4.2% from the prior year.
Margins & Returns
Castle Biosciences's gross margin was 79.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.5 percentage points from the prior year.
Castle Biosciences's operating margin was -12.4% in fiscal year 2025, reflecting core business profitability. This is down 15.0 percentage points from the prior year.
Castle Biosciences's net profit margin was -7.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 12.5 percentage points from the prior year.
Castle Biosciences's ROE was -5.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 9.1 percentage points from the prior year.
Capital Allocation
Castle Biosciences invested $51.9M in research and development in fiscal year 2025. This represents a decrease of 0.4% from the prior year.
Castle Biosciences invested $36.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 27.2% from the prior year.
CSTL Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $83.7M-3.8% | $87.0M+4.8% | $83.0M-3.6% | $86.2M-2.0% | $88.0M+1.9% | $86.3M+0.6% | $85.8M-1.4% | $87.0M |
| Cost of Revenue | $20.5M+12.1% | $18.3M-2.1% | $18.7M+6.1% | $17.6M+7.6% | $16.4M+1.2% | $16.2M+3.7% | $15.6M+7.5% | $14.5M |
| Gross Profit | $63.1M-8.1% | $68.7M+6.8% | $64.3M-6.2% | $68.6M-4.2% | $71.6M+2.1% | $70.1M-0.1% | $70.2M-3.2% | $72.5M |
| R&D Expenses | $14.4M+6.8% | $13.5M+4.3% | $13.0M+1.4% | $12.8M+1.6% | $12.6M+6.9% | $11.8M-4.5% | $12.3M-12.8% | $14.1M |
| SG&A Expenses | $64.9M+14.4% | $56.7M+1.5% | $55.9M-3.7% | $58.1M-0.9% | $58.6M+17.3% | $50.0M-1.1% | $50.5M-1.2% | $51.1M |
| Operating Income | -$18.4M-381.0% | -$3.8M+43.8% | -$6.8M-60.1% | -$4.3M+84.8% | -$27.9M-789.6% | $4.0M-20.3% | $5.1M+1.3% | $5.0M |
| Interest Expense | $134K+197.8% | $45K+87.5% | $24K+166.7% | $9K+12.5% | $8K-94.9% | $157K-18.2% | $192K-11.1% | $216K |
| Income Tax | $109K+128.5% | -$382K-432.2% | $115K+102.5% | -$4.7M-1003.1% | -$423K+75.2% | -$1.7M-128.4% | $6.0M+681.5% | -$1.0M |
| Net Income | -$14.5M-522.7% | -$2.3M-365.5% | -$501K-111.1% | $4.5M+117.5% | -$25.8M-369.5% | $9.6M+322.7% | $2.3M-74.6% | $8.9M |
| EPS (Diluted) | $-0.49 | N/A | $-0.02-113.3% | $0.15+116.7% | $-0.90 | N/A | $0.08-74.2% | $0.31 |
CSTL Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $547.8M-5.3% | $578.6M+2.8% | $562.8M+3.3% | $544.7M+8.6% | $501.7M-5.6% | $531.2M+3.2% | $514.6M+5.6% | $487.3M |
| Current Assets | $328.9M-8.9% | $361.1M+1.0% | $357.6M+2.6% | $348.7M-0.2% | $349.4M-3.0% | $360.2M+4.5% | $344.8M+7.6% | $320.4M |
| Cash & Equivalents | $63.8M-45.4% | $116.7M+36.4% | $85.6M+4.0% | $82.2M-8.3% | $89.7M-25.1% | $119.7M+26.1% | $95.0M+11.0% | $85.6M |
| Inventory | $10.5M+2.0% | $10.3M+18.5% | $8.7M+3.4% | $8.4M+22.1% | $6.8M-15.8% | $8.1M+23.8% | $6.6M-18.0% | $8.0M |
| Accounts Receivable | $42.3M-2.6% | $43.4M-12.3% | $49.5M-5.4% | $52.3M-7.2% | $56.4M+10.0% | $51.2M+1.9% | $50.3M+9.3% | $46.0M |
| Goodwill | $10.7M0.0% | $10.7M0.0% | $10.7M0.0% | $10.7M0.0% | $10.7M0.0% | $10.7M0.0% | $10.7M0.0% | $10.7M |
| Total Liabilities | $86.4M-19.8% | $107.7M+12.5% | $95.7M+7.1% | $89.4M+45.5% | $61.4M-18.6% | $75.4M+2.6% | $73.5M+15.9% | $63.4M |
| Current Liabilities | $48.8M-29.0% | $68.7M+24.2% | $55.3M+8.7% | $50.9M+36.5% | $37.3M-24.5% | $49.4M+11.5% | $44.3M+12.3% | $39.5M |
| Long-Term Debt | $8.4M-12.9% | $9.6M-4.1% | $10.0M+24.1% | $8.1M-9.2% | $8.9M-8.5% | $9.7M-2.7% | $10.0M+0.1% | $10.0M |
| Total Equity | $461.4M-2.0% | $470.9M+0.8% | $467.0M+2.6% | $455.4M+3.4% | $440.3M-3.4% | $455.8M+3.4% | $441.1M+4.0% | $423.9M |
| Retained Earnings | -$238.8M-6.5% | -$224.3M-1.1% | -$222.0M-0.2% | -$221.5M+2.0% | -$226.0M-12.9% | -$200.1M+4.6% | -$209.7M+1.1% | -$212.0M |
CSTL Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$22.1M-182.2% | $26.9M+19.0% | $22.6M+8.7% | $20.8M+444.9% | -$6.0M-124.8% | $24.4M+4.4% | $23.3M-2.8% | $24.0M |
| Capital Expenditures | $12.5M+73.4% | $7.2M-51.6% | $14.8M+60.1% | $9.3M+95.4% | $4.7M-37.4% | $7.6M+18.6% | $6.4M+22.0% | $5.2M |
| Free Cash Flow | -$34.6M-275.1% | $19.7M+153.3% | $7.8M-32.5% | $11.6M+207.3% | -$10.8M-164.2% | $16.8M-1.0% | $17.0M-9.6% | $18.8M |
| Investing Cash Flow | -$25.8M-392.2% | $8.8M+148.0% | -$18.4M+35.2% | -$28.4M-26.5% | -$22.4M-488.8% | $5.8M+139.0% | -$14.8M+30.9% | -$21.4M |
| Financing Cash Flow | -$5.0M-9.7% | -$4.6M-399.3% | -$919K-1009.9% | $101K+106.5% | -$1.6M+71.2% | -$5.4M-742.6% | $838K+1895.2% | $42K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
CSTL Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 75.5%-3.5pp | 79.0%+1.5pp | 77.5%-2.1pp | 79.5%-1.8pp | 81.4%+0.1pp | 81.3%-0.5pp | 81.8%-1.5pp | 83.3% |
| Operating Margin | -22.0%-17.6pp | -4.4%+3.8pp | -8.2%-3.3pp | -4.9%+26.8pp | -31.7%-36.4pp | 4.7%-1.2pp | 5.9%+0.2pp | 5.8% |
| Net Margin | -17.3%-14.7pp | -2.7%-2.1pp | -0.6%-5.8pp | 5.3%+34.6pp | -29.4%-40.5pp | 11.1%+8.5pp | 2.6%-7.6pp | 10.3% |
| Return on Equity | -3.1%-2.7pp | -0.5%-0.4pp | -0.1%-1.1pp | 1.0%+6.9pp | -5.9%-8.0pp | 2.1%+1.6pp | 0.5%-1.6pp | 2.1% |
| Return on Assets | -2.6%-2.3pp | -0.4%-0.3pp | -0.1%-0.9pp | 0.8%+6.0pp | -5.1%-7.0pp | 1.8%+1.4pp | 0.4%-1.4pp | 1.8% |
| Current Ratio | 6.75+1.5 | 5.26-1.2 | 6.47-0.4 | 6.85-2.5 | 9.37+2.1 | 7.29-0.5 | 7.78-0.3 | 8.12 |
| Debt-to-Equity | 0.020.0 | 0.020.0 | 0.020.0 | 0.020.0 | 0.020.0 | 0.020.0 | 0.020.0 | 0.02 |
| FCF Margin | -41.3%-64.0pp | 22.7%+13.3pp | 9.4%-4.0pp | 13.4%+25.7pp | -12.3%-31.7pp | 19.5%-0.3pp | 19.8%-1.8pp | 21.6% |
Similar Companies
Frequently Asked Questions
What is Castle Biosciences's annual revenue?
Castle Biosciences (CSTL) reported $344.2M in total revenue for fiscal year 2025. This represents a 3.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Castle Biosciences's revenue growing?
Castle Biosciences (CSTL) revenue grew by 3.7% year-over-year, from $332.1M to $344.2M in fiscal year 2025.
Is Castle Biosciences profitable?
No, Castle Biosciences (CSTL) reported a net income of -$24.2M in fiscal year 2025, with a net profit margin of -7.0%.
What is Castle Biosciences's EBITDA?
Castle Biosciences (CSTL) had EBITDA of -$2.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Castle Biosciences have?
As of fiscal year 2025, Castle Biosciences (CSTL) had $116.7M in cash and equivalents against $9.6M in long-term debt.
What is Castle Biosciences's gross margin?
Castle Biosciences (CSTL) had a gross margin of 79.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Castle Biosciences's operating margin?
Castle Biosciences (CSTL) had an operating margin of -12.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Castle Biosciences's net profit margin?
Castle Biosciences (CSTL) had a net profit margin of -7.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Castle Biosciences's return on equity (ROE)?
Castle Biosciences (CSTL) has a return on equity of -5.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Castle Biosciences's free cash flow?
Castle Biosciences (CSTL) generated $28.3M in free cash flow during fiscal year 2025. This represents a -22.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Castle Biosciences's operating cash flow?
Castle Biosciences (CSTL) generated $64.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Castle Biosciences's total assets?
Castle Biosciences (CSTL) had $578.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Castle Biosciences's capital expenditures?
Castle Biosciences (CSTL) invested $36.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Castle Biosciences spend on research and development?
Castle Biosciences (CSTL) invested $51.9M in research and development during fiscal year 2025.
What is Castle Biosciences's current ratio?
Castle Biosciences (CSTL) had a current ratio of 5.26 as of fiscal year 2025, which is generally considered healthy.
What is Castle Biosciences's debt-to-equity ratio?
Castle Biosciences (CSTL) had a debt-to-equity ratio of 0.02 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Castle Biosciences's return on assets (ROA)?
Castle Biosciences (CSTL) had a return on assets of -4.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Castle Biosciences's Altman Z-Score?
Castle Biosciences (CSTL) has an Altman Z-Score of 4.72, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Castle Biosciences's Piotroski F-Score?
Castle Biosciences (CSTL) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Castle Biosciences's earnings high quality?
Castle Biosciences (CSTL) has an earnings quality ratio of -2.66x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Castle Biosciences cover its interest payments?
Castle Biosciences (CSTL) has an interest coverage ratio of -497.8x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Castle Biosciences?
Castle Biosciences (CSTL) scores 62 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.