Novocure sees FY23 revenue $509.3M, consensus $505.05M

Total preliminary net revenues for the year ended December 31 were $509.3M, a decrease of 5% compared to the prior year, primarily driven by reduced collections from denied or appealed claims in the U.S. The United States, Germany and Japan contributed $91.3 million, $14.7Mn and $7.5M, respectively, with our other active markets contributing $15.9 M.Revenue in Greater China from Novocure’s partnership with Zai Lab totaled $4.4 M. Cash, cash equivalents and short-term investments were $910.6 million as of December 31, 2023.