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Here's Why We're Not At All Concerned With Castle Biosciences' (NASDAQ:CSTL) Cash Burn Situation

Here's Why We're Not At All Concerned With Castle Biosciences' (NASDAQ:CSTL) Cash Burn Situation

这就是为什么我们根本不关心Castle Biosciences(纳斯达克股票代码:CSTL)的现金消耗情况的原因
Simply Wall St ·  03/03 08:19

We can readily understand why investors are attracted to unprofitable companies. For example, biotech and mining exploration companies often lose money for years before finding success with a new treatment or mineral discovery. But while the successes are well known, investors should not ignore the very many unprofitable companies that simply burn through all their cash and collapse.

我们可以很容易地理解为什么投资者会被无利可图的公司所吸引。例如,生物技术和矿业勘探公司通常会亏损多年,然后才通过新的治疗方法或矿物发现获得成功。但是,尽管成功是众所周知的,但投资者不应忽视许多无利可图的公司,这些公司只是耗尽了所有现金然后倒闭。

So should Castle Biosciences (NASDAQ:CSTL) shareholders be worried about its cash burn? For the purpose of this article, we'll define cash burn as the amount of cash the company is spending each year to fund its growth (also called its negative free cash flow). First, we'll determine its cash runway by comparing its cash burn with its cash reserves.

那么,Castle Biosciences(纳斯达克股票代码:CSTL)的股东应该担心其现金消耗吗?就本文而言,我们将现金消耗定义为公司每年为其增长提供资金的现金金额(也称为负自由现金流)。首先,我们将通过将其现金消耗与现金储备进行比较来确定其现金流道。

How Long Is Castle Biosciences' Cash Runway?

Castle Biosciences 的现金跑道有多长?

A company's cash runway is the amount of time it would take to burn through its cash reserves at its current cash burn rate. As at December 2023, Castle Biosciences had cash of US$243m and no debt. Importantly, its cash burn was US$19m over the trailing twelve months. So it had a very long cash runway of many years from December 2023. Importantly, though, analysts think that Castle Biosciences will reach cashflow breakeven before then. In that case, it may never reach the end of its cash runway. Depicted below, you can see how its cash holdings have changed over time.

公司的现金流是指以当前的现金消耗率消耗现金储备所需的时间。截至2023年12月,Castle Biosciences的现金为2.43亿美元,没有债务。重要的是,在过去的十二个月中,其现金消耗为1900万美元。因此,从2023年12月起,它的现金流一直很长,持续了多年。但重要的是,分析师认为,在此之前,Castle Biosciences将达到现金流盈亏平衡。在这种情况下,它可能永远不会走到现金跑道的尽头。如下所示,您可以看到其现金持有量随着时间的推移而发生了怎样的变化。

debt-equity-history-analysis
NasdaqGM:CSTL Debt to Equity History March 3rd 2024
NasdaqGM: CSTL 债券与股本的比率历史记录 2024 年 3 月 3 日

How Well Is Castle Biosciences Growing?

Castle Biosciences 的增长情况如何?

Castle Biosciences managed to reduce its cash burn by 59% over the last twelve months, which suggests it's on the right flight path. And there's no doubt that the inspiriting revenue growth of 60% assisted in that improvement. Overall, we'd say its growth is rather impressive. Clearly, however, the crucial factor is whether the company will grow its business going forward. For that reason, it makes a lot of sense to take a look at our analyst forecasts for the company.

在过去的十二个月中,Castle Biosciences设法将其现金消耗减少了59%,这表明它走上了正确的飞行道路。毫无疑问,60%的令人鼓舞的收入增长促进了这种改善。总的来说,我们可以说它的增长相当可观。但是,显然,关键因素是该公司未来是否会发展其业务。出于这个原因,看看我们的分析师对公司的预测很有意义。

How Easily Can Castle Biosciences Raise Cash?

Castle Biosciences 能如何轻松筹集资金?

We are certainly impressed with the progress Castle Biosciences has made over the last year, but it is also worth considering how costly it would be if it wanted to raise more cash to fund faster growth. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. One of the main advantages held by publicly listed companies is that they can sell shares to investors to raise cash and fund growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.

Castle Biosciences在过去一年中取得的进展无疑给我们留下了深刻的印象,但也值得考虑的是,如果它想筹集更多现金来资助更快的增长,将花费多大。一般而言,上市企业可以通过发行股票或承担债务来筹集新现金。上市公司的主要优势之一是,它们可以向投资者出售股票以筹集现金和为增长提供资金。我们可以将公司的现金消耗与其市值进行比较,以了解公司必须发行多少新股才能为一年的运营提供资金。

Castle Biosciences has a market capitalisation of US$547m and burnt through US$19m last year, which is 3.5% of the company's market value. That's a low proportion, so we figure the company would be able to raise more cash to fund growth, with a little dilution, or even to simply borrow some money.

Castle Biosciences的市值为5.47亿美元,去年耗资1900万美元,占该公司市值的3.5%。这个比例很低,因此我们认为该公司只要稍加稀释就能筹集更多现金来为增长提供资金,甚至可以简单地借点钱。

How Risky Is Castle Biosciences' Cash Burn Situation?

Castle Biosciences 的现金消耗情况有多危险?

As you can probably tell by now, we're not too worried about Castle Biosciences' cash burn. In particular, we think its revenue growth stands out as evidence that the company is well on top of its spending. But it's fair to say that its cash burn reduction was also very reassuring. One real positive is that analysts are forecasting that the company will reach breakeven. After considering a range of factors in this article, we're pretty relaxed about its cash burn, since the company seems to be in a good position to continue to fund its growth. Taking an in-depth view of risks, we've identified 3 warning signs for Castle Biosciences that you should be aware of before investing.

正如你现在可能知道的那样,我们并不太担心Castle Biosciences的现金消耗。特别是,我们认为其收入增长突出,证明该公司的支出处于领先地位。但可以公平地说,其现金消耗减少也非常令人放心。一个真正的积极因素是,分析师预测该公司将达到盈亏平衡。在考虑了本文中的一系列因素之后,我们对其现金消耗感到非常放松,因为该公司似乎处于继续为其增长提供资金的有利地位。通过深入了解风险,我们确定了Castle Biosciences的3个警告信号,您在投资之前应注意这些信号。

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies, and this list of stocks growth stocks (according to analyst forecasts)

当然,通过寻找其他地方,你可能会找到一笔不错的投资。因此,来看看这份免费的有趣公司名单以及这份成长型股票清单(根据分析师的预测)

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。

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