Key Highlights
- Second quarter net revenue reached a record $183.6 million, representing 16% year-over-year growth
- Active patients receiving TTFields therapy worldwide increased 18% to 5,128
- Company achieved positive adjusted EBITDA of $10.8 million compared to a $10 million deficit in the prior year
- 2026 full-year revenue forecast increased to $710Mā$725M
- Optune Pax secured CE Mark authorization for treating locally advanced pancreatic cancer in European markets
Shares of NovoCure (NVCR) jumped 28.39% following the medical technology company’s announcement of record-setting quarterly performance and an upward revision to its annual projections, providing strong momentum for investor confidence.
Second quarter net revenue totaled $183.6 million, marking a 16% increase compared to the corresponding quarter in 2025. The figure surpassed analyst estimates and represents the highest quarterly revenue in company history.
The global patient base utilizing TTFields therapy expanded 18% year-over-year to reach 5,128 active patients. Optune Gio continued to lead adoption with 4,636 active patients, while Optune Lua demonstrated robust expansion with 51% growth, reaching 207 patients.
The recently launched Optune Pax for pancreatic cancer treatment in the United States generated 418 prescriptions during the second quarter. By June 30, the therapy had 285 active patients receiving treatment across the U.S.
Gross profit margin expanded to 78% from 74% in the year-ago period. Contributing factors included a $5 million tariff reimbursement and reduced production expenses. Company leadership anticipates margins will normalize to the mid-70% range throughout the remainder of 2026.
On an adjusted basis, EBITDA flipped to positive $10.8 million versus a $10 million loss in Q2 2025. This represents a significant operational milestone, although the company recorded a GAAP net loss of $15.7 million, which improved substantially from the $40 million loss reported one year earlier.
Upgraded Annual Forecast
Company executives raised their 2026 full-year revenue projection to a range of $710 millionā$725 million, up from the previous forecast of $690 millionā$710 million. The revised guidance indicates anticipated growth of 8% to 11% for the fiscal year.
The adjusted EBITDA forecast also saw improvement, shifting from an anticipated loss of up to $15 million to a new range spanning breakeven to positive $15 million.
NovoCure closed the quarter with $440.6 million in cash and short-term investment holdings, providing sufficient financial resources to fund commercial rollouts and ongoing clinical studies without requiring immediate capital infusions.
International Growth and Clinical Progress
Optune Pax obtained CE Mark certification for treating locally advanced pancreatic cancer in European territories. Germany is anticipated to serve as the initial European launch territory.
Approximately half of physicians who have prescribed Optune Pax in the United States have issued just a single prescription thus far. Encouraging these early adopters to become consistent prescribers represents a critical commercial objective that management addressed during the quarterly earnings discussion.
Optune Lua, developed for malignant pleural mesothelioma treatment, had enrolled 64 patients in Japan after receiving national reimbursement approval in March. Individual hospital contracting requirements continue to present obstacles to wider adoption in that market.
Research and development expenditures decreased 8% year-over-year to $51 million as the organization reduced clinical trial expenses. NovoCure is additionally restructuring its LUNAR-2 Phase III study to achieve approximately $90 million in cost savings through enrollment reductions and site consolidation.
Regulatory authorities at the FDA are projected to announce their decision regarding Optune Maia for brain metastases originating from non-small cell lung cancer during the fourth quarter of 2026. The National Comprehensive Cancer Network has previously designated Optune Maia as a Category 2A treatment alternative for limited brain metastases.
Patient enrollment for the Phase 3 KEYNOTE D58 glioblastoma clinical trial is anticipated to reach completion by the end of 2026.
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