NovoCure Ltd NVCR

Healthcare SIC 3841 - Surgical & Medical Instruments & Apparatus Nasdaq

We are a global oncology company with a proprietary platform technology called Tumor Treating Fields ("TTFields"), which are electric fields that exert physical forces to kill cancer cells. Our therapy is delivered through a medical device. Our key priorities are to drive commercial adoption of Optune Gio®, Optune Lua®, and Optune Pax®, our commercial TTFields therapy devices, obtain regulatory approval to market TTFields therapy devices in new indications, such as brain metastases from non-small cell lung cancer ("NSCLC"), and to advance clinical and product development programs intended to extend overall survival in some of the most aggressive forms of cancer.

Optune Gio is approved by the U.S. Food and Drug Administration ("FDA") under the Premarket Approval ("PMA") pathway for the treatment of adult patients with newly diagnosed glioblastoma ("GBM") together with temozolomide, a chemotherapy drug, and for adult patients with GBM following confirmed recurrence after chemotherapy as monotherapy treatment. We also have a CE certificate to market Optune Gio for the treatment of GBM in the European Union ("EU"), as well as approval or local registration in the United Kingdom ("UK"), Japan, Canada and certain other countries.

Last close 17.94 2026-09-04
Market cap $2.09B 2026-06-30 share count
52-week range 9.82 - 21.45

Valuation FY2025 figures against the last close

P/S3.2x
P/E
P/FCF
EV/EBITDA
Dividend yield
Diluted EPS-1.22

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $655.4M$605.2M$509.3M$537.8M$535.0M$494.4M$351.3M$248.1M$177.0M$82.9M
Cost of revenue $166.9M$137.2M$128.3M$114.9M$114.9M$106.5M$88.6M$80.0M$55.6M$39.9M
Gross profit $488.5M$468.0M$381.1M$423.0M$420.2M$387.9M$262.7M$168.0M$121.4M$36.6M
R&D $224.5M$209.6M$223.1M$206.1M$201.3M$132.0M$79.0M$50.6M$38.1M$41.5M
SG&A $177.7M$189.8M$164.1M$132.8M$126.1M$107.4M$87.9M$73.5M$59.1M$51.0M
Total operating expenses $642.3M$638.5M$613.9M$512.5M$464.5M$357.5M$263.6M$201.7M$160.7M$151.9M
Operating income -$153.8M-$170.5M-$232.9M-$89.5M-$44.3M$30.4M-$914.0K-$33.7M-$39.3M-$115.3M
Interest expense $22.2M$11.7M$4.9M$8.1M$8.8M$18.1M$14.6M$16.9M$11.7M$7.3M
Pre-tax income -$136.2M-$131.2M-$191.7M-$81.8M-$52.1M$18.1M-$8.8M-$45.9M-$48.5M-$121.5M
Income tax $23.0K$37.5M$15.3M$10.7M$6.3M$1.7M$1.6M$17.6M$13.2M$10.4M
Net income -$136.0M-$169.0M-$207.0M-$93.0M-$58.0M$19.8M-$7.2M-$63.6M-$61.7M-$131.8M
EPS, basic -1.22-1.56-1.95-0.88-0.560.20-0.07-0.69
EPS, diluted -1.22-1.56-1.95-0.88-0.560.18-0.07-0.69-0.70-1.54
Shares, diluted (wtd. avg.) $111.5M$107.8M$106.4M$104.7M$103.4M$108.9M$97.2M$91.8M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $93.5M$163.8M$240.8M$115.8M$209.6M$246.2M$179.4M$142.8M$80.7M$100.0M
Receivables $89.4M$74.2M$61.2M$86.3M$93.6M$96.7M$58.9M$36.5M$29.6M$6.3M
Inventory $41.1M$35.1M$38.2M$29.4M$24.4M$27.4M$23.7M$22.6M$22.0M$25.5M
Total current assets $646.7M$1.11B$1.03B$1.11B$1.07B$999.4M$439.9M$321.4M$245.1M$261.9M
Property, plant and equipment $77.6M$77.7M$51.5M$32.7M$22.7M$11.4M$9.3M$8.4M$9.0M$9.8M
Total assets $804.3M$1.24B$1.15B$1.19B$1.14B$1.05B$479.4M$339.8M$265.3M$282.1M
Total current liabilities $223.2M$756.4M$179.1M$158.8M$142.6M$113.6M$86.3M$64.6M$50.2M$36.9M
Long-term debt $195.0M$97.3M$568.8M$565.5M$562.2M$429.9M$149.4M$149.3M$97.3M$96.2M
Total liabilities $463.9M$880.6M$783.6M$750.5M$729.0M$575.5M$261.7M$227.5M$151.7M$139.7M
Retained earnings -$1.29B-$1.15B-$985.5M-$778.5M-$685.9M-$631.1M-$650.9M-$643.7M-$582.3M-$519.9M
Total equity $340.5M$360.2M$362.5M$441.2M$410.5M$476.5M$217.8M$112.3M$113.6M$142.3M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow -$49.0M-$26.4M-$73.3M$30.8M$82.8M$99.1M$26.6M-$1.9M-$33.1M-$107.6M
Depreciation and amortisation $9.4M$6.2M$3.9M$3.1M$2.8M$2.6M$2.1M$2.0M$2.0M$1.7M
Stock-based compensation $104.8M$160.0M$115.6M$107.0M$94.9M$75.7M$52.4M$39.8M$27.1M$22.1M
Capital expenditure $26.6M$42.9M$27.1M$21.4M$24.2M$15.0M$10.5M$6.7M$7.4M$5.7M
Investing cash flow $437.3M-$140.2M$184.1M-$140.0M-$144.8M-$472.8M-$51.7M-$5.5M$8.6M$13.0M
Financing cash flow -$451.3M$90.3M$15.8M$15.5M$25.7M$440.2M$61.7M$69.4M$5.2M$75.1M
Dividends paid $0$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001645113-26-000033.

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