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Mar 31, 2024
Castle Biosciences Q1 2024 Earnings Report
Reported strong revenue and volume growth across all therapeutic areas, driven by the dedication of the team and the strength of the diverse test portfolio.
Key Takeaways
Castle Biosciences reported a strong start to 2024 with a 74% increase in revenue compared to Q1 2023, reaching $73 million. The company also raised its full-year 2024 revenue guidance to $255-265 million, reflecting confidence in the business.
Revenue increased by 74% to $73.0 million compared to $42.0 million in Q1 2023.
Total test reports delivered increased by 40% to 20,888 compared to 14,916 in Q1 2023.
Gross margin was 78%, and Adjusted Gross Margin was 81%, compared to 71% and 77%, respectively, for the same periods in 2023.
The company is raising full-year 2024 revenue guidance to $255-265 million from $235-240 million.
Forward Guidance
Castle Biosciences is increasing its guidance for anticipated total revenue in 2024. The Company now anticipates generating between $255-265 million in total revenue in 2024, compared to the previously provided guidance of between $235-240 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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