Castle Biosciences Expects FY23 Revenue To Exceed $210 Mln, Surpassing Previous Outlook

(RTTNews) - Castle Biosciences Inc. (CSTL) expects to deliver more than $210 million in revenue for fiscal year 2023, exceeding the floor of its guidance of at least $200 million.

The company said it delivered 20,284 total test reports in the fourth quarter of 2023, compared to 12,644 in the same period of 2022.

Total test reports delivered in 2023 were 70,429, an increase of 59% from the previous year.

Year-end 2023 cash and cash equivalents are expected to be about $99 million. Additionally, the company expects to hold about $144 million in short-term investments.