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MARKETS / NASDAQ / NVCR
NASDAQ · SURGICAL & MEDICAL INSTRUMENTS & APPARATUS · LARGE CAP

NovoCure Ltd. NVCR

13 fiscal years on record · USD · FY2025 reported · SEC filings only
$655.4M
▲ 8.3% YoY
$-136.2M
$-75.7M
In brief

What this company does

NovoCure is a global oncology company with a proprietary platform technology called Tumor Treating Fields, which are electric fields that exert physical forces to kill cancer cells, delivered through a medical device. As of December 31, 2025, it had 1,605 employees, compared to 1,488 employees as of December 31, 2024. It markets its products in multiple countries around the globe, with the majority of its revenues coming from the use of Optune Gio in the U.S., Germany, France and Japan. It offers Optune Gio, Optune Lua and Optune Pax as its commercial TTFields therapy devices. Optune Gio is approved by the FDA under the Premarket Approval pathway for the treatment of adult patients with newly diagnosed glioblastoma together with temozolomide, and for adult patients with glioblastoma following confirmed recurrence after chemotherapy as monotherapy treatment. Optune Lua is approved by the FDA under the PMA pathway for the treatment of adult patients with metastatic non-small cell lung cancer concurrent with PD-1/PD-L1 inhibitors or docetaxel following progression on or after a platinum-based regimen. Optune Pax is approved by the FDA under the PMA pathway for the treatment of adult patients with locally advanced pancreatic cancer concurrent with gemcitabine and nab-paclitaxel. NovoCure was incorporated in the Bailiwick of Jersey in 2000.

Written from the business description in NovoCure Ltd's annual report to the U.S. Securities and Exchange Commission, filed 26 February 2026. Every sentence was checked against that document before publication.

Growth
USD 655.4M
Revenue, FY2025 · full 13-year series below
Revenue $M Net income $M
FY2025 · Revenue 655.4 · Net income -136.2
250.0M500.0M-80.0M-160.0M2013201520172019202120232025
Compound annual growth
+6.8%
+5.8%
+34.8%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +5.8% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−21 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -23.5% · Net -20.8%
-200%-400%-600%2013201520172019202120232025
ROE
FY2025 · ROE -38.9%
-20%-40%-60%2013201520172019202120232025

Each USD of equity lost 39 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -75.7
40M80M-40M-80M2013201520172019202120232025
Net buybacks $M Dividends $M
FY2017 · Dividends 0.0 · Net buybacks —
-100M-200M201520162017

Total assetsUSD 804.3M
EquityUSD 340.5M
CashUSD 93.5M
Gross debtUSD 195.0M
Net debtUSD 101.5M
Current ratio2.90×

Net debt stands at 30% of equity.

The 13-year record
13 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022202120202019201820172016201520142013
Revenue $B0.70.60.50.50.50.50.40.20.20.10.00.00.0
Operating income $B−0.2−0.2−0.2−0.1−0.00.0−0.0−0.0−0.0−0.1−0.1−0.1−0.1
EBITDA $B−0.1−0.2−0.2−0.1−0.00.00.0−0.0−0.0−0.1−0.1−0.1·
Income tax $B−0.00.00.00.00.0−0.0−0.00.00.00.00.00.00.0
Net income $B−0.1−0.2−0.2−0.1−0.10.0−0.0−0.1−0.1−0.1−0.1−0.1−0.1
Free cash flow $B−0.1−0.1−0.10.00.10.10.0−0.0−0.0−0.1−0.1−0.1−0.1
EPS, diluted $−1.22−1.56−1.95−0.88−0.560.18−0.07−0.69−0.70−1.54−3.67−6.46−6.73
Dividend / sh $·············
Payout %········−0−0−0··
ROE %−38.9−46.7−51.5−21.7−13.25.7−4.4−56.3−48.2−67.1−64.0−59.8−45.0
Shares out B0.110.110.110.110.100.100.100.090.090.090.080.01·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures · 1 divergences in 63 reconciliationsAUDITED

Reconciled in 12 of 19 fiscal years. 1 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 32 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures1 divergent
ActivitySurgical & Medical Instruments & Apparatus
Listed onNASDAQ
Incorporated innot stated in the filings
Fiscal year endsDecember 31
Data on record since2013

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