NovoCure Ltd (NVCR)
As-reported financials and SEC filings for NovoCure Ltd. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.
About NovoCure Ltd
NovoCure Ltd is a global oncology company that develops and markets medical devices delivering Tumor Treating Fields (TTFields) therapy, which uses electric fields to disrupt cancer cell division. Its main products include Optune Gio, Optune Lua, and Optune Pax, which are approved for treating glioblastoma, non-small cell lung cancer, malignant pleural mesothelioma, and pancreatic cancer in various countries. NovoCure serves patients with aggressive solid tumor cancers and works with healthcare providers and payers to expand access to its therapies worldwide.
Snapshot
Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.
What changed at NovoCure
- Revenue grew 8.3% to $655M in FY2025, slower than the 18.8% the year before.
- Operating margin is -23.5% in FY2025, -15.2 pp against -8.3% in FY2021.
- Most recent quarter Q2 FY2026: revenue $184M, up 15.6% from Q2 FY2025.
- Free cash flow was negative $76M in FY2025.
- Net loss narrowed to $136M in FY2025, from $169M in FY2024.
Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.
Peer comparison
Where NovoCure’s fundamentals sit among the 88 medical device companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).
No reported insider purchases (code P) in the last 90 days; 1 insider sale totaling $614,635. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →
Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.
Recent insider activity
Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.
| Trade date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
2026-06-04 filed 2026-06-05 | Leonard Frank XChief Executive Officer | Sell | 34.3K | $17.93 | $615K |
2026-06-02 filed 2026-06-03 | HILLEMAN JERYL LDirector | Sell | 2.9K | $15.77 | $46K |
2026-06-02 filed 2026-06-03 | LEUNG GABRIELDirector | Sell | 2.9K | $15.77 | $46K |
2026-06-02 filed 2026-06-03 | Hung DavidDirector | Sell | 2.9K | $15.77 | $46K |
2026-06-02 filed 2026-06-03 | VERNON W ANTHONYDirector | Sell | 2.9K | $15.77 | $46K |
2026-06-02 filed 2026-06-03 | Scannell Timothy JDirector | Sell | 2.9K | $15.77 | $46K |
2026-06-02 filed 2026-06-03 | Ocean Allyson JDirector | Sell | 2.9K | $15.77 | $46K |
2026-06-02 filed 2026-06-03 | Stafford KristinDirector | Sell | 2.9K | $15.77 | $46K |
Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.
Short interest
Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.
| Settlement | Shares short | Change | Days to cover |
|---|---|---|---|
| 2026-08-14 | 9.2M | -9.5% | 8.37 |
| 2026-07-31 | 10.1M | -11.5% | 4.89 |
| 2026-07-15 | 11.5M | -3.6% | 7.49 |
| 2026-06-30 | 11.9M | +23.1% | 6.18 |
| 2026-06-15 | 9.7M | +5.4% | 5.98 |
| 2026-05-29 | 9.2M | +7.2% | 6.92 |
| 2026-05-15 | 8.5M | +22.6% | 4.28 |
| 2026-04-30 | 7.0M | -20.0% | 4.07 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.
Income statement (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $655.4M | $605.2M | $509.3M | $537.8M | $535.0M |
| Gross profit | $488.5M | $468.0M | $381.1M | $423.0M | $420.2M |
| Operating income | $-153.8M | $-170.5M | $-232.9M | $-89.5M | $-44.3M |
| Net income | $-136.2M | $-168.6M | $-207.0M | $-92.5M | $-58.4M |
| Diluted EPS | $-1.22 | $-1.56 | $-1.95 | $-0.88 | $-0.56 |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.
Balance sheet (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Cash and equivalents | $93.5M | $163.8M | $240.8M | $115.3M | $208.8M |
| Current assets | $646.7M | $1.11B | $1.03B | $1.11B | $1.07B |
| Total assets | $804.3M | $1.24B | $1.15B | $1.19B | $1.14B |
| Current liabilities | $223.2M | $756.4M | $179.1M | $158.8M | $142.6M |
| Long-term debt | $195.0M | $97.3M | $568.8M | $565.5M | $562.2M |
| Total liabilities | $463.9M | $880.6M | $783.6M | $750.5M | $729.0M |
| Total equity | $340.5M | $360.2M | $362.5M | $441.2M | $410.5M |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.
Cash flow (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Operating cash flow | $-49.0M | $-26.4M | $-73.3M | $30.8M | $82.8M |
| Capital expenditure | $26.6M | $42.9M | $27.1M | $21.4M | $24.2M |
| Free cash flow | $-75.7M | $-69.2M | $-100.4M | $9.4M | $58.6M |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.
Quarterly trend (as reported)
| Quarter | Revenue | Revenue YoY | Net income | Diluted EPS |
|---|---|---|---|---|
| Q2 FY2026 | $183.6M | 15.6% | $-15.7M | $-0.13 |
| Q1 FY2026 | $174.1M | 12.3% | $-71.1M | $-0.62 |
| Q4 FY2025 | $174.3M | 8.1% | $-24.5M | $-0.22 |
| Q3 FY2025 | $167.2M | 7.8% | $-37.3M | $-0.33 |
| Q2 FY2025 | $158.8M | 5.6% | $-40.1M | $-0.36 |
| Q1 FY2025 | $155.0M | 11.9% | $-34.3M | $-0.31 |
| Q4 FY2024 | $161.3M | 20.5% | $-65.9M | $-0.61 |
| Q3 FY2024 | $155.1M | 21.8% | $-30.6M | $-0.28 |
Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.
Company facts
Selected SEC filings
Largest medical device peers
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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.