Empowering people, informing care decisions ©2024 Castle Biosciences 1 Third Quarter 2024 November 4, 2024 Disclaimers 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 forward-looking statements include, but are not limited to, statements concerning: our position ...

Revenue and Market Potential - Castle Biosciences reported a revenue primarily generated from the DecisionDx-Melanoma test, with a reimbursement rate of $7,193 per test for 2023 and 2024[101]. - The U.S. total addressable market (TAM) for DecisionDx-Melanoma is estimated at approximately $540 million, with around 130,000 patients diagnosed annually[92][93]. - The DecisionDx-SCC test has a U.S. TAM of approximately $820 million, with 200,000 high-risk SCC patients diagnosed annually[93]. - TissueCypher, a proprietary test for Barrett's esophagus, has a U.S. TAM of approximately $1 billion[94]. - The IDgenetix test for mental health conditions has a U.S. TAM of approximately $5 billion[96]. Reimbursement and Coverage - Medicare coverage has been received for all major tests, including DecisionDx-Melanoma, DecisionDx-SCC, MyPath Melanoma, DecisionDx-UM, TissueCypher, and IDgenetix[99]. - The reimbursement rate for DecisionDx-UM is set at $7,776 per test for 2023 and 2024[102]. - The rate for MyPath Melanoma is set at $1,950 per test for 2024, reflecting an increase from $1,755 in 2023[103]. - The reimbursement rate for DecisionDx-SCC is set at $8,500 per test effective April 1, 2024, following a period of initial coverage[106]. - IDgenetix's multi-gene panel was reimbursed by Medicare at approximately $1,500 per test until February 2023, after which the reimbursement rate was adjusted to $917 per test during the Gapfill pricing process[108]. - A test-specific PLA CPT code effective October 1, 2023, was established, with a reimbursement rate of $1,336 per test effective January 1, 2024[108]. Test Volume and Performance - The number of test reports delivered increased by 41.3% for Q3 2024 and 43.6% for the nine months ended September 30, 2024, compared to the same periods in 2023[112]. - Dermatologic test report volume increased by 17% for Q3 2024 and 19.2% for the nine months ended September 30, 2024, compared to the prior year[112]. - Approximately 75% of clinicians ordering the DecisionDx-SCC test also ordered the DecisionDx-Melanoma test during the nine months ended September 30, 2024[112]. - Test report volumes for the DecisionDx-SCC and DecisionDx-Melanoma tests increased by 48.8% and 9.4%, respectively, contributing to higher revenues[134]. Financial Performance - Net revenues for the three months ended September 30, 2024, increased by $24.3 million, or 39.5%, to $85.8 million compared to the same period in 2023, driven by a $13.9 million increase in dermatologic tests and a $10.4 million increase in non-dermatologic tests[134]. - Net revenues for the nine months ended September 30, 2024, increased by $92.1 million, or 59.9%, to $245.8 million compared to the same period in 2023[149]. - Revenue from dermatologic tests increased by $63.1 million, primarily due to a higher ASP for the DecisionDx-SCC test and a 52.3% increase in test report volumes[149]. - Revenue from non-dermatologic tests increased by $29.0 million, driven by a 152% increase in test report volumes for the TissueCypher test[150]. - Operating income for the nine months ended September 30, 2024, was $4.6 million, a significant improvement from a loss of $62.3 million in 2023[144]. Expenses and Investments - Selling, general and administrative expenses increased by $5.9 million, or 13.2%, for the three months ended September 30, 2024, primarily due to higher personnel costs and professional fees[138]. - Research and development expenses decreased by $0.6 million, or 4.6%, for the three months ended September 30, 2024, reflecting lower clinical study and personnel costs[137]. - The company expects expenses to increase significantly as it executes clinical studies, commercialization strategies, and develops new products[117]. - The company anticipates that selling and marketing-related expenses will increase significantly as part of its growth strategy[124]. Cash Flow and Financial Position - Net cash provided by operating activities was $40.5 million for the nine months ended September 30, 2024, compared to a net cash used of $24.2 million for the same period in 2023, reflecting a $64.7 million increase in cash inflows[171]. - Cash and cash equivalents totaled $95.0 million, with marketable investment securities amounting to $184.8 million as of September 30, 2024, indicating no material exposure to interest rate risk[177]. - The company had cash and cash equivalents of $95.0 million and marketable investment securities of $184.8 million, compared to $98.8 million and $144.3 million, respectively, as of December 31, 2023[161]. - The company expects to incur approximately $40 million in capital expenditures for the development of its future corporate headquarters, with construction expected to continue through early 2026[163]. Employee and Operational Changes - The company had 710 employees as of September 30, 2024, up from 587 employees as of September 30, 2023[143]. - The company expanded its Pittsburgh commercial real estate lease by 23,821 square feet to enhance lab space for the TissueCypher test, with improvements completed by September 30, 2024[112]. Regulatory and Compliance - The company is cooperating with a subpoena from the Department of Health and Human Services regarding claims submitted for payment under federal healthcare programs, covering the period from January 1, 2015, to February 1, 2024[182]. - There were no changes in internal control over financial reporting that materially affected the company during the third quarter of 2024[180]. Market Conditions and Risks - Macroeconomic conditions, including geopolitical conflicts and economic slowdowns, may materially impact the company's results of operations and financial condition[116]. - The company experienced no significant impact from inflation on financial results for the three and nine months ended September 30, 2024[175].

Exhibit 99.1 Castle Biosciences Reports Third Quarter 2024 Results Q3 2024 revenue increased 39% over Q3 2023 to $86 million Q3 2024 total test reports increased 41% over Q3 2023 Raising full-year 2024 revenue guidance to $320-330 million from $275-300 million Conference call and webcast today at 4:30 p.m. ET FRIENDSWOOD, Texas - Nov. 4, 2024--Castle Biosciences, Inc. (Nasdaq: CSTL), a company improving health through innovative tests that guide patient care, today announced its financial results for the th ...

Core Viewpoint - Castle Biosciences, Inc. has experienced significant stock performance, with a 22% increase over the past month and a 60.7% rise since the beginning of the year, outperforming the broader medical sector and the biomedical and genetics industry [1][2]. Performance Metrics - The company has consistently exceeded earnings expectations, reporting an EPS of $0.31 against a consensus estimate of -$0.16 in its latest earnings report [2]. - For the current fiscal year, Castle Biosciences is projected to have an EPS of -$0.59 on revenues of $299.8 million, reflecting a 72.43% change in EPS and a 36.41% change in revenues [3]. - The next fiscal year forecasts an EPS of -$2.15 on revenues of $279.54 million, indicating a year-over-year change of -265.25% in EPS and -6.76% in revenues [3]. Valuation Metrics - The stock is currently at a 52-week high, prompting a review of valuation metrics to assess future performance potential [4]. - Castle Biosciences has a Value Score of C, a Growth Score of A, and a Momentum Score of F, resulting in a combined VGM Score of B [6]. Zacks Rank - The stock holds a Zacks Rank of 2 (Buy), supported by rising earnings estimates, indicating potential for further gains [7].

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Have you been paying attention to shares of Castle Biosciences, Inc. (CSTL) ? Shares have been on the move with the stock up 10.7% over the past month. The stock hit a new 52-week high of $34.49 in the previous session. Castle Biosciences, Inc. has gained 58.8% since the start of the year compared to the 8.6% move for the Zacks Medical sector and the -0.2% return for the Zacks Medical - Biomedical and Genetics industry. What's Driving the Outperformance? The stock has a great record of positive earnings sur ...

Castle Biosciences, Inc. (CSTL) shares ended the last trading session 9.4% higher at $34.26. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.4% gain over the past four weeks. The stock rallied as optimism grew over the company's promising portfolio that consists of tests for skin cancers, Barrett's esophagus, mental health conditions and uveal melanoma. This company is expected to post quarterly loss of $0.08 per ...

Castle Biosciences, Inc. (CSTL) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. Since a c ...

ManuWe Investment Thesis Castle Biosciences (NASDAQ:CSTL) is a fast-growing molecular diagnostics company that focuses on selling prognostic tests for dermatological (skin) cancer, esophageal cancer and mental health patients. Castle Biosciences has demonstrated consistently rapid revenue growth and is trading at a cheap based on a 2.1x EV/TTM GP. In Q2 2024, Castle Biosciences inflected into net income and operating profitability in Q2 2024, which should drive more institutional and retail interest and thu ...