Loading...
•
Sep 30, 2020
Castle Biosciences Q3 2020 Earnings Report
Reported a 3% increase in revenue and DecisionDx-Melanoma report volume returned to quarterly year-over-year increase.
Key Takeaways
Castle Biosciences announced its Q3 2020 financial results, with revenues reaching $15.2 million, a 3% increase compared to Q3 2019. The company also saw a return to year-over-year growth in DecisionDx-Melanoma report volume and launched two new tests: DecisionDx-SCC and DecisionDx DiffDx-Melanoma.
Revenues were $15.2 million in the third quarter of 2020, a 3% increase compared to $14.8 million in the third quarter of 2019.
Delivered 4,404 DecisionDx-Melanoma test reports in the third quarter of 2020, a 7% increase compared to the 4,126 reports delivered in the third quarter of 2019.
The Company’s DecisionDx-SCC test became commercially available on Aug. 31, 2020, and delivered 57 test reports through Sept. 30, 2020.
Gross margin in the third quarter of 2020 was 84%.
Forward Guidance
Looking ahead to the remainder of 2020 and into 2021, Castle Biosciences believes they are well-positioned for long-term growth and value creation.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...