How did Castle Biosciences' revenue and expenses trend in Q4 2024?

In Q4 2024, Castle Biosciences showed strong revenue growth and effective cost management, resulting in improved profitability.

1. Revenue Trend: The company's total revenue for Q4 2024 was $86.31 million. This represents a significant increase from the previous quarter, indicating a strong market performance and successful product sales.
2. Expense Management: Castle Biosciences maintained a high gross margin of 81.87%, which is a testament to efficient cost control and the company's ability to keep expenses in check relative to its revenue. The R&D expenses were $11.77 million, which is a key indicator of the company's ongoing investment in innovation and product development. The SG&A (Selling, General, and Administrative) expenses were not provided, but the focus on R&D suggests a strategic emphasis on advancing the company's pipeline rather than expanding administrative costs.
3. Profitability: The net income for Q4 2024 was $9.59 million, which is a direct result of the revenue growth and cost management. This positive trend is a sign of the company's financial health and its ability to generate profits from its operations.