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NVCR · NASDAQ · Medical - Devices

Novocure

Develops wearable TTFields devices for brain, thoracic and pancreatic tumors.

$17.66

After-hours close−0.17 (−0.95%)

At close$17.83(−0.89%)

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Profile

NovoCure LimitedNVCRHealth Care

Develops portable TTFields devices for glioblastoma, non-small cell lung cancer, pleural mesothelioma and locally advanced pancreatic cancer. Monthly therapy fees generate revenue, with Optune Gio and the United States still providing most sales.

Develops and commercializes Tumor Treating Fields (TTFields), a device-based cancer therapy that applies alternating electric fields through skin-mounted arrays. Optune Gio treats glioblastoma, Optune Lua treats non-small cell lung cancer and pleural mesothelioma, and Optune Pax treats locally advanced pancreatic cancer.

Pairs wearable hardware with prescription fulfillment, patient training, technical support and reimbursement assistance for continuous at-home treatment. Monthly therapy fees generate revenue. Most sales still come from Optune Gio, led by the United States and followed by major markets in Europe and Japan; Greater China is served through Zai Lab.

Commercial adoption depends on regulatory approvals, physician certification, payer coverage and collections. Manufacturing is outsourced, while prescriptions, treatment duration and reimbursed monthly fees drive revenue.

Company facts

CEOFrank Leonard

ListedOct 2, 2015

ExchangeNASDAQ

HeadquartersBaar, Switzerland

CountryJersey

Employees1,605

CIK0001645113

ISINJE00BYSS4X48

Key statistics

Market cap$2.08B

EPS (ttm)−$1.30

P/E (ttm)−13.71

ROE-44.0%

P/B6.11

P/S2.97

Dividend yield—

Beta1.57vs XLV 1.36

Year to date +35.9% · Average volume (30d) 1.6M

Analysts

Price target, next 12 months$26.00+45.9%Median of 15 analysts · vs the Aug 28 close

ConsensusBuy9 of 15 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $17.82

High$32.00+79.6%

Median$26.00+45.9%

Low$20.00+12.2%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Rating	Prior target	Target
Jul 24, 2026	Wedbush	Reiterate	Neutral		$20
Jul 24, 2026	H.C. Wainwright	Target		$52	$32
Jul 23, 2026	H.C. Wainwright	Reiterate	Buy	$46	$52
Jun 18, 2026	H.C. Wainwright	Target		$47	$46
Feb 12, 2026	H.C. Wainwright	Target		$39	$47

Earnings

EPS

Estimate−$0.21

ReportedDue Oct 29, 2026

Revenue

Estimate$182.3M

ReportedDue Oct 29, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Jul 23, 2026Q2 FY26	−$0.33	−$0.13	+60.8%	$172.4M	$183.6M	+6.5%	−11.71%
Apr 30, 2026Q1 FY26	−$0.51	−$0.62	−21.0%	$167.8M	$174.1M	+3.7%	+9.27%
Feb 26, 2026Q4 FY25	−$0.41	−$0.22	+46.3%	$174.4M	$174.4M	0.0%	−0.58%
Oct 30, 2025Q3 FY25	−$0.42	−$0.33	+21.4%	$174.4M	$167.2M	−4.1%	−0.08%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$155.0M	$158.8M	$167.2M	$174.4M	$174.1M	$183.6M
Gross profit	$116.5M	$117.3M	$122.5M	$132.2M	$135.1M	$142.5M
Operating income	−$37.9M	−$39.5M	−$36.0M	−$40.4M	−$67.4M	−$10.6M
Net income	−$34.3M	−$40.1M	−$37.3M	−$24.5M	−$71.1M	−$15.7M
Diluted EPS	−$0.31	−$0.36	−$0.33	−$0.22	−$0.62	−$0.13
Gross margin	75.1%	73.9%	73.2%	75.8%	77.6%	77.6%
Operating margin	-24.4%	-24.9%	-21.5%	-23.2%	-38.7%	-5.8%

Fiscal years (4-quarter sums)FY21 $535.0M · FY22 $537.8M · FY23 $509.3M · FY24 $605.2M · FY25 $655.4M

Revenue by geography · Q2 FY26

United States$103.0M · 43%

International Markets$74.7M · 31%

Germany$23.3M · 10%

France$21.3M · 9%

Japan$11.8M · 5%

China$6.0M · 2%

Balance sheet, Jun 30, 2026Cash & short-term investments $440.6M · Total debt $233.4M · Total assets $795.2M · Shareholders' equity $338.1M

Dividends

No dividends on record.

Ownership

Institutions 91.09%106.07M sharesInsiders 2.61%3.04M sharesOther 6.30%7.34M shares

Shares outstanding 116.45M · Float 95.84M · 82.3% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
FMR LLC	17.37M	14.92%	13F	Aug 13, 2026
BlackRock, Inc.	13.41M	11.52%	13F	Aug 7, 2026
Soleus Capital Management, L.P.	9.91M	8.51%	13F	Aug 11, 2026
Vanguard Portfolio Management LLC	6.27M	5.39%	13F	Aug 13, 2026
Vanguard Capital Management LLC	4.90M	4.21%	13F	Aug 13, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Jun 4, 2026	Frank X. Leonard	officer: Chief Executive Officer	−34,273	$17.93
Jun 2, 2026	David Hung	director	−2,945	$15.77
Jun 2, 2026	W. Anthony Vernon	director	−2,945	$15.77
Jun 2, 2026	Jeryl L. Hilleman	director	−2,945	$15.77
Jun 2, 2026	Timothy J. Scannell	director	−2,945	$15.77