Castle Biosciences reports Q1 EPS ($1.10), consensus (89c)

Reports Q1 revenue $42.0M, consensus $37.4M. "Castle delivered a strong start to the year," said Derek Maetzold, CEO. "Building on our strength and momentum from 2022, we delivered significant test report volume and revenue growth in the first quarter, which was driven by continued execution on our short- and long-term strategies. We remain confident in our business and are reaffirming our 2023 revenue guidance. Investments in our growth initiatives across our entire test portfolio, coupled with the team’s performance, continue to support the adoption of our proprietary tests. In particular, the evolution of our dermatology facing commercial team in the third quarter of 2022 helped drive first quarter test report volume for DecisionDx(R)-Melanoma and DecisionDx(R)-SCC combined, which grew nearly 40% year-over-year and nearly 10% sequentially. Additionally, we acquired two companies over the last eighteen months that we believe will contribute to long-term value creation. We were pleased to see the continued momentum in test report volumes we expected in these newer gastroenterology and mental health franchises, which we believe are on track to be important contributors to delivering on our financial targets."