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Dec 31, 2025
Novocure Q4 2025 Earnings Report
Novocure reported fourth quarter 2025 revenue growth driven by increased active patients, while narrowing its net loss year-over-year.
Key Takeaways
Fourth quarter net revenues increased 8% year-over-year to 174350000, primarily driven by higher active patients on therapy, while net loss improved to 24499000 compared to 65922000 in the prior year period.
Total net revenues grew 8% year-over-year to 174350000.
Gross margin declined to 76% from 79% in the prior year.
Net loss narrowed to 24499000 from 65922000 year-over-year.
Total active patients increased to 4620 compared to 4126 last year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For full year 2026, Novocure expects total net revenues between 675000000 and 705000000 and adjusted EBITDA between -20000000 and 0.
Positive Outlook
- Revenue guidance range of 675000000 to 705000000 for 2026.
- Expected contribution from Optune Lua and Optune Pax of 15000000 to 25000000.
- Mid-70% gross margin assumption for 2026.
- FDA approval of Optune Pax for pancreatic cancer.
- Planned key clinical milestones in 2026.
Challenges Ahead
- Adjusted EBITDA expected between -20000000 and 0.
- Gross margin declined year-over-year to 76%.
- Ongoing operating losses.
- CMS billing privileges temporarily revoked in January 2026.
- Exposure to foreign exchange fluctuations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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