Novocure Ltd

NVCR

$17.61

-0.17%

2026-09-04 10:35:19 EDT-$0.03

Healthcare

Medical - Devices

NASDAQ

Active Trading

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of ...

Price Action of NVCR

$17.61

-0.17%-$0.03

High—

Low—

52W High-17.9%

Rel. vol—

Interval

Range65m

Volume—SMA5SMA10

—

NovoCure Limited is a global oncology company focused on developing and commercializing a novel cancer therapy called Tumor Treating Fields (TTFields). The company's primary products are medical devices that deliver TTFields to tumors, designed to disrupt cancer cell division. Their main commercial products include Optune Gio, Optune Lua, and Optune ...NovoCure Limited is a global oncology company focused on developing and commercializing a novel cancer therapy called Tumor Treating Fields (TTFields). The company's primary products are medical devices that deliver TTFields to tumors, designed to disrupt cancer cell division. Their main commercial products include Optune Gio, Optune Lua, and Optune Pax, used for treating glioblastoma, mesothelioma, and other solid tumors. Novocure is headquartered in Baar, Switzerland, and operates in markets across the United States, Europe, Japan, Greater China, and other international regions. The company was founded in 2000 by Prof. Yoram Palti, who discovered the effects of TTFields on cancer cells. As of the most recent data, the company has approximately 1,605 full-time employees. Financially, Novocure is a commercial-stage company with significant revenue, reporting a revenue per share of $6.03, but it has yet to achieve profitability, with a net profit margin of -21.2% and a negative return on equity of -44%. The company's financial ratios indicate a gross profit margin of 76.1%, reflecting strong product margins, but high research and development costs (32.1% of revenue) and SG&A expenses (66.1% of revenue) contribute to operating losses. Novocure continues to invest heavily in clinical trials for brain metastases, gastric cancer, glioblastoma, liver cancer, non-small cell lung cancer, pancreatic cancer, and ovarian cancer. The company's leadership includes CEO Frank Leonard, and it remains committed to extending survival in aggressive cancers through its innovative TTFields technology. With a market capitalization of approximately $1.9 billion, Novocure is a notable player in the medical devices sector, focusing on oncology and aiming to make a significant impact on cancer treatment worldwide.ExpandCollapse

Founded

2000

Employees

1605

CEO

Frank Leonard

Full Name

Novocure Ltd

Sector

Healthcare

Industry

Medical - Devices

ROE

-44.00%

Market Cap

$2.05B

Current Ratio

2.89

WACC

8.57%

ROIC

-25.72%

Contact Information

https://www.novocure.com

44 15 3475 6700

Neuhofstrasse 21, Baar 6340

Key Metrics of NVCR

Snapshot

Latest / TTM · 6 periods

Market Cap

$2.05B

ROCE

-26.9%

EV / EBITDA

-16.32x

-0.4% YoY

FCF Yield

-1.0%

+4.2% YoY

Cash Conversion Cycle

-117.4d

Current Ratio

2.89

Quick take

TTM —

No major risk flags in selected headline metrics.

Financial Highlights of NVCR

Profitability trend

Latest / TTM · 6 periods

Gross Margin

76.1%

Net Margin

-21.2%

P/E Ratio

-13.57x

n/a

Debt / Equity

0.69

n/a

Current Ratio

2.89

Dividend Yield

0.0%

Understanding

TTM —

Interest coverage is weak

Calendar of NVCR

Upcoming

Sep 30, 2026In 26 days
Q3 FY2026 · Estimated results
Est. EPS $-0.24 · Revenue $182.28M · 5 analysts
Dec 30, 2026
Q4 FY2026 · Estimated results
Est. EPS $-0.25 · Revenue $185.80M · 5 analysts
Dec 31, 2026
FY2026 · Estimated annual results
Est. EPS $-1.25 · Revenue $725.82M · 6 analysts
Mar 30, 2027
Q1 FY2027 · Estimated results
Est. EPS $-0.21 · Revenue $188.10M · 3 analysts

Recent history

Jul 23, 2026
Q2 FY2026 · Results reported
EPS $-0.13 · Revenue $183.58M
View filing
Apr 30, 2026
Q1 FY2026 · Results reported
EPS $-0.62 · Revenue $174.06M
View filing
Feb 26, 2026
FY2025 · Annual results
EPS $-1.22 · Revenue $655.35M
View filing
Oct 30, 2025
Q3 FY2025 · Results reported
EPS $-0.33 · Revenue $167.20M
View filing
Jul 24, 2025
Q2 FY2025 · Results reported
EPS $-0.36 · Revenue $158.81M
View filing
Mar 31, 2025
Q1 FY2025 · Results reported
EPS $-0.31 · Revenue $154.99M

Financial Statements of NVCR

5Y Trend (Revenue, Earnings, FCF)

Metric	Latest	YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.	QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).	$655.4M	+8.3%	+5.5%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.	$-136.2M	+19.2%	+78.0%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.	+74.5%	-3.6%	-0.0%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).	-23.5%	+16.7%	+85.1%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.	-20.8%	+25.4%	+79.1%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.	$-75.7M	-9.3%	+129.6%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.	-11.5%	-1.0%	+128.1%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.	85.2%	-55.1%	-2.8%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.	2.90x	+98.0%	-0.3%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.	$804.3M	-35.2%	+0.9%

Actual vs Estimate

A Dec 31Q Jun 30

Metric	Annual (A vs E)	Annual Surprise	Quarter (A vs E)	Quarter Surprise
EPS Surprise	-1.22 vs -1.40	+12.9%	-0.13 vs -0.33	+60.8%
Revenue Surprise	$655.4M vs $655.4M	-0.0%	$183.6M vs $172.4M	+6.5%

Insider Transactions of NVCR

Acquisitions (A)

Since Jun 3, 2026

Disposals (D)

Since Jun 3, 2026

Monthly shares of acquisitions/disposals with close price trend (shared daily price source)

Insider Trading Snapshot

Date	Executive	Title	Security	Side	Shares	Price
Jun 30, 2026	Puri Michal Nath	officer: Chief Human Resources Officer	Ordinary Shares	A	1,905	$11.15
Jun 30, 2026	Leonard Frank X	officer: Chief Executive Officer	Ordinary Shares	A	1,905	$11.15
Jun 30, 2026	Ben Arye Barak	officer: General Counsel	Ordinary Shares	A	1,299	$11.15
Jun 30, 2026	Danziger Asaf	director	Ordinary Shares	A	268	$11.15
Jun 4, 2026	Leonard Frank X	officer: Chief Executive Officer	Ordinary Shares	D	34,273	$17.93

Earnings Call Transcript of NVCR

1 transcript segments

Q2 2026

Unknown Speaker

Operator : Good day, and welcome to NovoCure's Second Quarter 2026 Earnings Call. Please note this call is being recorded. I would now like to turn the call over to Adam Daney, Head of Investor Relations. Please go ahead. Adam Daney : Good morning. And thank you for joining us to review NovoCure's second quarter 2026 performance. I'm joined on the phone today by our Executive Chairman, Bill Doyle; CEO, Frank Leonard; Chief Innovation and Medical Officer, Uri Weinberg; and CFO, Christoph Brackmann. For your reference, slides accompanying this earnings release can be found on our website, www.novocure.com, on the Investor Relations page under Quarterly Results. Before we start, I would like to remind you that our discussions during this conference call will include forward-looking statements, and actual results could differ materially from those projected in these statements. These statements involve a number of risks and uncertainties, some of which are beyond our control and are described from time to time in our SEC filings. We do not intend to update publicly any forward-looking statement, except as required by law. Where appropriate, we will refer to non-GAAP financial measures to evaluate our business, specifically adjusted EBITDA, a measure of earnings before interest, taxes, depreciation, amortization and share-based compensation. We believe adjusted EBITDA is an important metric as it removes the impact of earnings attributable to our capital structure, tax rate and material noncash items and best reflects the financial value generated by our business. We do not provide forward-looking guidance for adjusted EBITDA on a GAAP basis due to the inability to predict share-based compensation expenses contained in the reconciled GAAP measure, net income, without reasonable efforts. Reconciliations of non-GAAP to GAAP financial measures are included in our press release, earnings slides and in our Form 10-Q filed with the SEC today. These materials can also be accessed from the Investor Relations page of our website. Following our prepared remarks this morning, we will open the line for your questions. I will now turn the call over to our Executive Chairman, Bill Doyle. William Doyle : Thank you, Adam. This morning, we reported our second quarter 2026 results, and I am pleased to say this was our strongest commercial quarter to date. With record net revenues and active patients on therapy, we continue to build on the momentum of the first quarter and have also made meaningful progress on our path to profitability. I will begin this morning with a review of our commercial results. Frank will then provide an update on our clinical strategy. Christoph will conclude our prepared remarks with a review of our quarterly financial performance before we open the line for questions. All 3 of our approved products contributed to our commercial performance this quarter. Starting with Optune Gio, we finished the quarter with 4,636 active patients on …

Leadership Team of NVCR

8 executives

Name	Title	Compensation	Gender	Year Born	Status
William F. Doyle	Executive Chairman	USD 1,777,965	Male	1962	Active
Christoph Brackmann	Chief Financial Officer	USD 1,162,387	Male	1974	Active
Uri Weinberg	Chief Innovation Officer & Chief Medical Officer	USD 1,158,934	Male	1978	Active
Frank Leonard	Chief Executive Officer & Director	USD 974,316	Male	—	Active
Mukund Paravasthu	Chief Operating Officer	USD 965,560	Male	1970	Active
Michael Puri	Chief Human Resources Officer	USD 932,882	Male	1969	Active
Barak Ben Arye	General Counsel	USD 796,075	Male	1977	Active
Adam Daney	Head of Investor Relations	—	Male	—	Active

Recent News of NVCR

Zacks Investment Research8/20/2026Neutral

Are You Looking for a Top Momentum Pick? Why NovoCure (NVCR) is a Great Choice

Does NovoCure (NVCR) have what it takes to be a top stock pick for momentum investors? Let's find out.

Zacks Investment Research8/12/2026Neutral

Wall Street Analysts Think NovoCure (NVCR) Could Surge 53.68%: Read This Before Placing a Bet

The average of price targets set by Wall Street analysts indicates a potential upside of 53.7% in NovoCure (NVCR). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

Zacks Investment Research8/7/2026Neutral

4 Healthcare Stocks to Watch as Defensive Demand Strengthens

Healthcare's defensive demand is strengthening in 2026. BTSG, HRMY, UNH and NVCR stand out on improving earnings outlooks and steady sector momentum.

Zacks Investment Research7/27/2026Neutral

NovoCure (NVCR) Upgraded to Buy: What Does It Mean for the Stock?

NovoCure (NVCR) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Zacks Investment Research7/27/2026Neutral

Wall Street Analysts Believe NovoCure (NVCR) Could Rally 46.63%: Here's is How to Trade

The mean of analysts' price targets for NovoCure (NVCR) points to a 46.6% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Historical Employee Count of NVCR

Current

1,605

Change

+7.86%

Minimum

1,167

Maximum

1,605

Recent Filings

Report Date	Employees	Form Type	Filing Date	SEC Filing
Dec 31, 2025	1,605	10-K	Feb 26, 2026	View
Dec 31, 2024	1,488	10-K	Feb 27, 2025	View
Dec 31, 2023	1,453	10-K	Feb 22, 2024	View
Dec 31, 2022	1,320	10-K	Feb 23, 2023	View
Dec 31, 2021	1,167	10-K	Feb 24, 2022	View

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Novocure Ltd