NASDAQ$NVCR

Novocure Ltd · Q2 2026 earnings

Q2 2026 earnings · · Before market open · Investor relations

Briefing

Novocure Ltd reported net revenues of $183.6 million and a net loss of $15.7 million for Q2 2026.

The company achieved 16% year-over-year revenue growth driven by 18% growth in active patients globally. Gross margin improved to 78% due to manufacturing efficiencies and a tariff refund. Operating expenses remained elevated due to new indication launches in pancreatic cancer and NSCLC.

  • Q2 2026 net revenues reached $183.6 million, up 16% from $158.8 million in Q2 2025.
  • Active patients grew 18% to 5,128, with strong contributions from the US, Germany, France and Japan.
  • Gross margin expanded to 78% supported by lower array costs and a $4.9 million tariff refund.
  • Net loss narrowed to $15.7 million from $40.1 million as revenue growth outpaced operating expense increases.

Headline financials

Total Revenue

$184M

Previous: $159M+15.6%
EPS (adj)

-$0.13

Previous: -$0.36+63.9%
Active patients

5.1K

No prior period
Net Income

-$15.7M

Previous: -$40.1M+61.0%
Operating Income

-$10.6M

No prior period
Gross Profit

$142M

No prior period
Cash & Equivalents

$93.7M

No prior period

Revenue & EPS history

Novocure · Revenue · Quarterly

$184M

Q2 2026+15.6%vs Q2 2025
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Forward guidance

Management continues to focus on new indication launches and supply chain optimization amid evolving tariff environment.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports

Historical avg

-0.5%

Avg return

Earnings day

+0.9%

Avg return

5 days after

+2.6%

Avg return

30 days after

49%

21 / 43 earnings

Positive

+27.5%

Q1 2026

Best reaction

-34.3%

Q2 2016

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026
Q1 2026+27.5%+33.1%+42.8%
Q4 2025-7.9%-11.3%-26.8%
Q3 2025-4.7%-11.0%-5.0%
Q2 2025-0.3%+3.9%+4.6%
Q1 2025+4.4%+2.9%+4.3%
Q4 2024-12.4%-17.2%-14.1%
Q3 2024-10.1%-1.8%+18.7%
Q2 2024+1.2%+24.2%-4.1%
Q1 2024+16.0%+21.9%+72.8%
Q4 2023-2.6%+4.4%-15.4%
Q3 2023-10.2%-5.5%-11.4%
Q2 2023-17.4%-19.1%-26.2%
Q1 2023+3.5%+6.2%+20.6%
Q4 2022-6.1%-6.1%-30.3%
Q3 2022+3.5%+8.1%+10.8%
Q2 2022-8.1%-5.1%+11.9%
Q1 2022-0.5%+8.9%+9.1%
Q4 2021+10.1%+10.5%+9.8%
Q3 2021-7.4%-2.8%-12.4%
Q2 2021-15.3%-18.0%-25.9%
Q1 2021-0.7%-4.0%-0.7%
Q4 2020-13.9%-11.6%-28.1%
Q3 2020+5.8%-1.4%+9.9%
Q2 2020+11.5%+14.9%+20.6%
Q1 2020-17.8%-12.8%-8.3%
Q4 2019-8.4%-12.7%-17.6%
Q3 2019+1.5%+4.3%+24.1%
Q2 2019+11.2%+17.3%+30.3%
Q1 2019+13.0%+10.0%+22.7%
Q4 2018+4.0%-2.5%-10.8%
Q3 2018-23.6%-22.9%-29.6%
Q2 2018-6.7%-9.2%+6.8%
Q1 2018+11.2%+14.3%+25.7%
Q4 2017-10.4%-1.9%+1.9%
Q3 2017+7.5%+19.3%+4.7%
Q2 2017+4.3%+2.3%+2.1%
Q1 2017+3.2%+8.2%+16.4%
Q4 2016-3.5%+6.3%-1.4%
Q3 2016+13.4%+21.8%+34.5%
Q2 2016-34.3%-31.6%-31.6%
Q1 2016+2.3%
Q4 2015+24.7%
Q3 2015+22.3%
Q1 2015
Q4 2014
Q3 2014
Q2 2014
Q1 2014

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