NovoCure Ltd SEC 10-Q Report

NovoCure Ltd, a global oncology company specializing in the development and commercialization of innovative therapies for the treatment of cancer, has released its Form 10-Q report for the second quarter of 2025. The report highlights the company's financial performance and key business developments, reflecting its ongoing efforts to expand its market presence and enhance its product offerings.

Financial Highlights

Net Revenues: NovoCure reported net revenues of $158.8 million for the quarter, marking a 6% increase from the same period in 2024. This growth was primarily driven by increased sales in France, Germany, and other international markets.

Gross Profit: The company's gross profit for the quarter was $117.3 million, with a gross margin of 74%, compared to 77% in the same period in 2024. The decrease in gross margin was mainly due to increased cost of revenues.

Operating Income (Loss): NovoCure reported an operating loss of $(39.5) million, compared to $(33.6) million in the same period in 2024. The increased loss was driven by higher operating expenses related to the launch of NSCLC and ongoing clinical trials.

Net Income (Loss): The company recorded a net loss of $(40.1) million, compared to $(33.4) million in the same period in 2024. This was impacted by decreased financial income and increased operating expenses.

Basic and Diluted Net Income (Loss) Per Ordinary Share: The net loss per ordinary share was $(0.36), compared to $(0.31) in the same period in 2024, reflecting the increased net loss.

Business Highlights

Revenue Segments: NovoCure's net revenues are primarily derived from patients using Optune Gio and Optune Lua devices. The majority of revenues come from the use of Optune Gio in the U.S., Germany, France, and Japan. Revenue from Optune Lua, including for NSCLC and MPM, was recognized at $2.4 million for the quarter.

Geographical Performance: In the three months ended June 30, 2025, there was a $4.2 million increase in revenue from France and a $4.0 million increase in Germany, driven by active patient growth and reimbursement improvements. The remaining international markets contributed an additional $3.0 million increase, with $3.8 million attributed to exchange rate benefits.

Sales Units: The number of active patients on therapy is a key performance indicator, with 4,331 active patients as of June 30, 2025, compared to 3,963 in the same period in 2024. Prescriptions received in the period totaled 1,741, indicating a strong demand for the company's products.

New Product Launches: NovoCure launched Optune Lua for the treatment of NSCLC in Germany, expanding its product offerings in the international market.

Future Outlook: The company is preparing FDA PMA applications for pancreatic cancer and brain metastases from NSCLC indications based on the PANOVA-3 and METIS trials. The PANOVA-3 application is expected to be filed in the third quarter of 2025, and the METIS full submission is anticipated by the end of 2025.

SEC Filing: NovoCure Ltd [ NVCR ] - 10-Q - Jul. 24, 2025