Quarterly ResultMay 6, 2026, 04:15 PM
Castle Biosciences Q1 Revenue $83.7M; Raises 2026 Guidance
AI Summary
Castle Biosciences reported its first quarter 2026 financial results, with revenues of $83.7 million. The company's core revenue drivers, DecisionDx-Melanoma and TissueCypher, saw significant year-over-year test volume growth of 16% and 58% respectively, leading to a 36% increase in total test reports for these products. As a result of strong performance and continued confidence, Castle Biosciences raised its full-year 2026 revenue guidance to $345-355 million from the previous $340-350 million. The company also reported a reduced net loss of $14.5 million and maintained a strong cash position of $261.7 million.
Key Highlights
- Raised 2026 total revenue guidance to $345-355 million from $340-350 million.
- Q1 2026 revenue was $83.7 million, compared to $88.0 million in Q1 2025.
- Total test reports for core revenue drivers (DecisionDx-Melanoma, TissueCypher) increased 36% YoY.
- DecisionDx-Melanoma test reports were 10,021, up 16% from Q1 2025.
- TissueCypher Barrett's Esophagus test reports were 11,745, up 58% from Q1 2025.
- Net loss was $14.5 million, an improvement from $25.8 million in Q1 2025.
- Gross margin was 73%, and Adjusted Gross Margin was 76%.
- Cash, cash equivalents, and marketable investment securities totaled $261.7 million as of March 31, 2026.