Press release
Castle Biosciences Reports Second Quarter 2023 Results
Q2 2023 revenue increased 44% over Q2 2022 to $50 million Q2 2023 total test reports increased 52% over Q2 2022 Raising full year 2023 revenue guidance to at
About this update from Castle Biosciences, Inc.
[{"type":"text","content":"\nQ2 2023 revenue increased 44% over Q2 2022 to $50 million\n\n\nQ2 2023 total test reports increased 52% over Q2 2022\n\n\nRaising full year 2023 revenue guidance to at least $180 million from $170-180 million\n\n\nConference call and webcast today at 4:30 p.m. ET\n\n\n FRIENDSWOOD, Texas--(BUSINESS WIRE)--\nCastle Biosciences, Inc. (Nasdaq: CSTL), a company improving health through innovative tests that guide patient care, today announced its financial results for the second quarter and six months ended June 30, 2023.\n\n\n“Castle delivered an outstanding second quarter, with strength across our entire test portfolio,” said Derek Maetzold, president and chief executive officer of Castle Biosciences. “Building on our first quarter momentum and driven by consistent execution across the entire Castle team, we delivered strong test report volume and revenue growth. Based on strong first half 2023 execution and confidence in our business, we are raising our 2023 revenue guidance to at least $180 million.\n\n\n“In addition, we expanded our body of evidence, further demonstrating the clinical value of our innovative tests and supporting adoption by clinicians and payers. Specifically, two patient outcome studies on our DecisionDx®-Melanoma test were published in the second quarter. The first study was from our collaboration with the National Cancer Institute’s SEER Program Registries. Data from this study showed that testing with DecisionDx-Melanoma was associated with lower melanoma-specific and overall mortality relative to untested patients. A similar study was published by Dhillon, et al. This independent, multi-center study found that sentinel lymph node negative patients whose follow-up treatment pathway was directed by the DecisionDx-Melanoma test for use of routine imaging in patients with high-risk DecisionDx-Melanoma results led to earlier detection of recurrences, when the tumor burden was lower. At study end, 76% of patients in the tested group who had a melanoma recurrence were alive compared to 50% in the untested group.\n\n\n“Additionally, during open comment periods, we had the opportunity to present data to a number of Medicare contractors related to one of the treatments that our DecisionDx®-SCC test has been shown to inform, adjuvant radiation therapy (ART). These data from a matched control analysis compare patien...