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Mar 31, 2020
Castle Biosciences Q1 2020 Earnings Report
Reported increased revenue and DecisionDx-Melanoma test report volume.
Key Takeaways
Castle Biosciences reported a strong first quarter with a 100% increase in revenue to $17.4 million compared to Q1 2019. The company delivered 4,574 DecisionDx-Melanoma test reports, a 42% increase year-over-year. However, due to the COVID-19 pandemic, the company has suspended its 2020 revenue guidance.
Revenue increased by 100% to $17.4 million compared to Q1 2019.
DecisionDx-Melanoma test report volume increased by 42% compared to Q1 2019, with 4,574 reports delivered.
New ordering clinicians for DecisionDx-Melanoma grew 43% compared to the same period in 2019.
Gross margin was 86% in the first quarter of 2020.
Forward Guidance
Castle Biosciences has suspended its previously announced annual revenue guidance for 2020 due to uncertainties regarding the duration and impact of the COVID-19 pandemic.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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