EarningsQ2 2026 Earnings Report
MX:NVCRN Q2 2026 EPS Results
Actual EPS-$2.40
Consensus EPS-$6.14
Beat/MissBeat by +$3.73
One Year Ago EPS-$6.65
MX:NVCRN Q2 2026 Revenue Results
Actual Revenue$3.39B
Expected Revenue$3.19B
Beat/MissBeat by +$206.00M
YoY Revenue Growth+15.60%
Earnings Announcement Details
QuarterQ2 2026
Date07/23/2026
TimeBefore Open
Conference CallThursday, July 23, 2026
MX:NVCRN Upcoming Earnings
NovoCure's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:NVCRN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed substantial commercial momentum highlighted by record net revenue (+16% YoY), active patient growth (Optune Gio +11% YoY), successful early launches (Optune Pax and Optune Lua), and a return to positive adjusted EBITDA in the quarter. Management also emphasized disciplined cost-management actions (R&D reductions and LUNAR-2 optimization) and updated full-year guidance reflecting confidence in continued progress. Key challenges include reimbursement and contracting hurdles (EU and Japan), reliance on some one-time benefits in Q2, the need to convert one-time prescribers into repeat prescribers for sustained growth, and clinical trial redesign risks. Overall, the positives — stronger commercial performance, profitability trajectory, regulatory milestones and clear launch progress — meaningfully outweigh the identified lowlights.Company Guidance
Record Quarterly Net Revenue
Net revenue of $184 million in Q2 2026, up 16% year-over-year; company updated full-year revenue guidance to $710 million–$725 million (8%–11% growth).
Strong Active Patient Growth — Optune Gio
Optune Gio active patients reached 4,636, an 11% increase year-over-year; U.S. active patients grew 8% year-over-year with double-digit growth also in Germany, Japan and Global Markets.
Successful Early Launch of Optune Pax
Optune Pax recorded 418 prescriptions in the quarter and 285 patients on therapy as of June 30; early adoption seen at both academic and community practices and CE Mark received for EU use in locally advanced pancreatic cancer.
Optune Lua Japan Launch Progress
Optune Lua had 207 patients on therapy worldwide and 64 patients on therapy in Japan after receiving national reimbursement in March; early launch signals align with expectations for the market.
Improved Profitability Metrics
Adjusted EBITDA turned positive at $11 million in Q2 2026 versus negative $10 million in Q2 2025; net loss narrowed to $16 million from $40 million year-over-year and loss per share was $0.13.
Higher Gross Margin and Operational Efficiencies
Gross margin improved to 78% in Q2 2026 from 74% in Q2 2025, aided by a $5 million tariff refund and lower array costs from improved utilization and manufacturing efficiencies; company expects mid-70s gross margins through year-end.
R&D and G&A Expense Discipline
R&D expense decreased 8% to $51 million year-over-year (driven by lower direct trial costs), and G&A decreased 9% to $40 million primarily due to lower share-based compensation.
Pipeline and Regulatory Milestones
FDA review of Optune Maia for brain metastases on track for a Q4 decision; NCCN added Optune Maia as a Category 2A option for limited brain metastases; the company is preparing IDE trials and partnerships to study TTFields combined with KRAS inhibitors.
MX:NVCRN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed