Castle Biosciences, Inc. · NASDAQ:CSTL
Castle Biosciences — Q1 2023 Earnings Presentation
19 slides from Castle Biosciences's earnings presentation, May 3, 2023
Slide 1: Transforming Disease Management
Transforming Disease Management First Quarter 2023 May 3, 2023
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections. These fo
Slide 3: Financial Performance Summary Q1 2023
Financial Performance Summary Q1 2023 Q1 2023 Q1 2022 Total test reports 14,916 8,627 Total Dermatology test reports 10,974 8,115 Revenues $42.0M $26.9M Adj. Revenues1 $43.4M $26.3M Gross Margin 70.5% 71.7% Adj. Gross Margin1 76.5% 77.4% Net Loss $(29.2)M $(24.6)M Adj. EBITDA1 $(15.1)M $(11.4)M Oper
Slide 4: Key Q1 2023 Accomplishments
Key Q1 2023 Accomplishments With continued momentum from Published prospective, multicenter National Society for Cutaneous 2022, delivered a strong start to the study, called DECIDE, 1 showing Medicine endorses DecisionDx- year, with significant test report DecisionDx-Melanoma test results Melanoma
Slide 5: Answering Clinical Questions to Guide Care Along the Patient Journey
Answering Clinical Questions to Guide Care Along the Patient Journey Our focus is on diagnostic support, risk stratification and therapy response areas of the patient care continuum Therapy Response MRD/Recurrence PATIENT CARE JOURNEY Screening Diagnostic Support Risk Stratification Monitoring Infla
Slide 6: Estimated ~$8B U.S. Total Addressable Market for Commercially Available Tests
Estimated ~$8B U.S. Total Addressable Market1 for Commercially Available Tests Dermatology Gastroenterology Mental Health Cutaneous melanoma/ Cutaneous squamous cell Suspicious pigmented Barrett’s esophagus/risk of progression to risk of metastasis, SLNB Mental health therapy response carcinoma/risk
Slide 7: Significant Scientific Evidence Through Robust Clinical Research Program
7 Significant Scientific Evidence Through Robust Clinical Research Program Across Our Testing Portfolio 18 323 ~11,800+ ~18,000+ Ongoing clinical Committed/contributing Patients enrolled in Patients enrolled in research studies clinical research sites as of studies as of Q1 studies over lifetime Q1
Slide 8: Well Positioned for Continued Growth with Expected 2023 Catalysts
Well Positioned for Continued Growth with Expected 2023 Catalysts Expected publication of Pittsburgh lab opening in Q2 2023, Further refinement of sales Expect new GI and MyPath collaborative NCI study showing bringing Castle’s total laboratory territories in our Derm, GI and commercial team expansi
Slide 9: Strong Growth in Our Foundational Dermatology Business
Strong Growth in Our Foundational Dermatology Business Total Dermatology Test Reports 10,974 8,115 Q1 2022 Q1 2023 Strong provider growth and continued adoption with ~540 new ordering clinicians1 and ~4,500 total ordering clinicians for our dermatologic tests for the quarter ending March 31, 2023 1N
Slide 10: Treatment Decisions Guided by DecisionDx-Melanoma Can Lead to Improved Outcomes
Direct Evidence Demonstrating Treatment Decisions Guided by DecisionDx-Melanoma Results Can Lead to Improved Patient Outcomes Independent, multi-center study of SLN negative Key findings: patients (n=634) • DecisionDx-Melanoma test directed routine surveillance imaging in SLN-, high-risk patients “U
Slide 11: DecisionDx-Melanoma Disease Specific Survival Outcomes Are Favorable Relative to Other Tests
DecisionDx-Melanoma Disease Specific Survival Outcomes Are Favorable Relative to Other Tests Tumor size P-value 10-yr MSS Sentinel lymph node biopsy (SLNB) Thin (<1.2mm) Not reported Not impacted • SLNB is a risk-stratification surgical procedure “test” in melanoma Intermediate (1.2-3.5mm) not signi
Slide 12: TissueCypher is a Risk Stratification Tool for Patients with Barrett's Esophagus
TissueCypher is a Risk Stratification Tool for Patients with Barrett's Esophagus Individualize 5-year risk of progression to HGD or EAC • Indicated for NDBE, IND and LGD • High Risk score enables increased surveillance or early intervention to prevent cancer • Low Risk score minimizes over treatment
Slide 13: IDgenetix: Precision Medicine Designed to Streamline Medication Selection
IDgenetix: Precision Medicine Designed to Streamline Medication Selection for Mental Health Next Generation PGx Unrivaled Efficacy Easy to Use • Eliminate trial and error • 2x improved chance of • 10 mental health and pain prescribing medication response vs. conditions in one report • 3 in 1 test: c
Slide 14: Thank you
CASTLE BIOSCIENCES Thank you
Slide 15: Use Of Non-GAAP Financial Measures (Unaudited)
Use Of Non-GAAP Financial Measures (Unaudited) In this presentation, we use the metrics of Adjusted Revenues, Adjusted Gross Margin and Adjusted EBITDA, which are non-GAAP financial measures and are not calculated in accordance with generally accepted accounting principles in the United States (GAAP
Slide 16: Reconciliation of Non-GAAP Financial Measures (Unaudited)
Reconciliation of Non-GAAP Financial Measures (Unaudited) The table below presents the reconciliation of adjusted revenues and adjusted gross margin, which are non-GAAP financial measures. See previous slide for further information regarding the Company’s use of non-GAAP financial measures. 16
Slide 17: Reconciliation of Non-GAAP Financial Measures (Unaudited)
Reconciliation of Non-GAAP Financial Measures (Unaudited) The table below presents the reconciliation of adjusted EBITDA, which is a non-GAAP financial measure. See slide 15 for further information regarding the Company’s use of non-GAAP financial measures. 17
Slide 18: Appendix
Appendix
Slide 19: Leadership Team Overview
Leadership Team Overview Derek Maetzold © SCHERING Dan Bradbury Eauillium Founder, Director, President and CEO SSXSINE a am S, SANDOZ —, Frank Stokes LEERINK” nd fz] Derek Maetzold CASTLE Chief Financial Officer Suan Mara Aspinall Toby Juvenal Bi eccove seneucs Gy Ese Pharmaceuticals Chief Commercia