Castle Biosciences beats Q1 revenue estimates, raises FY revenue outlook

Castle Biosciences

06/05/2026 21:46

Overview

U.S. diagnostics firm's Q1 2026 revenue rose, beating analyst expectations

Company raised full-year 2026 revenue guidance to $345-355 mln from $340-350 mln

Q1 revenue declined yr/yr due to Medicare coverage changes and discontinued tests

Outlook

Castle Biosciences raises 2026 revenue guidance to $345-355 mln from $340-350 mln

Castle Biosciences sees expanded clinical evidence supporting DecisionDx-Melanoma driving future adoption

Result Drivers

CORE TEST VOLUME GROWTH - DecisionDx-Melanoma and TissueCypher test volumes rose 16% and 58% yr/yr, driving higher total test reports

REVENUE IMPACTS - Revenue declined yr/yr due to Medicare coverage changes for DecisionDx-SCC, commercial refocus, and discontinuation of IDgenetix

Company press release: ID:nPn3tTtv5a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$83.68 mln
$79.42 mln (7 Analysts)
Q1 EPS
-$0.49
Q1 Net Income
-$14.52 mln
Q1 Basic EPS
-$0.49
Q1 Operating Expenses
$102.09 mln
Q1 Operating Income
-$18.41 mln
Q1 Pretax Profit
-$14.41 mln


Analyst Coverage

The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy."

Wall Street's median 12-month price target for Castle Biosciences Inc is $48.50, about 97.2% above its May 5 closing price of $24.60

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)