Novocure raises 2026 revenue outlook to $743 million after revenue grows 16%
Key Facts
Novocure raised its 2026 fiscal-year revenue outlook to $736–743 million from $710–725 million previously, alongside its third-quarter results. The company also raised its adjusted EBITDA outlook to $24–34 million, from a range of $0–15 million. Quarterly net revenue was $193.4 million, up 16% from the same period in 2025. The company said revenue growth was driven mainly by a 19% increase in active patients globally. In premarket trading on October 29, NVCR shares fell 7.55% to $13.10, compared with the previous session’s close of $14.17, according to Investing.com.
Net loss narrowed to $10.435 million in the third quarter, compared with $37.270 million in the same quarter of 2025. Loss per share fell to $0.09 from $0.33 a year earlier. The results reflect a quarterly improvement alongside revenue growth, while the company raised its annual adjusted EBITDA guidance to $24–34 million. Gross margin was 77%, compared with 73% in the same period a year earlier. The company attributed the improvement to higher revenue and lower revenue cost per patient, supported by more efficient array use and manufacturing.
Optune Gio remained the largest driver of active-patient growth among the figures reported in the results, with 4,729 patients using it as of September 30, up 11% year over year. Active patients on Optune Lua reached 255, up 83% from the corresponding period in 2025. Combined quarterly revenue for Optune Lua and Optune Pax was about $11.9 million. That comprised $8.2 million for Lua and $3.7 million for Pax, with most Pax revenue coming from the United States. The chief executive said the quarter’s strong performance resulted from continued Optune Gio growth and an expanding product portfolio as it launched in new markets, adding that active patients reached a record level.
Quarterly revenue also included $4.4 million in one-time benefits in the United States and Germany, related to higher claim approval rates. Investing.com reported that management’s fourth-quarter revenue guidance was $185–192 million, below the third-quarter result. The coverage linked the expected decline to the normalization of one-time benefits recorded in the third quarter. The annual guidance assumes a combined $30–34 million contribution from Optune Lua and Optune Pax revenue during 2026. Cash, cash equivalents and short-term investments totaled $463.5 million as of September 30, 2026.
On commercial developments, the company announced in October that Japan’s Ministry of Health, Labour and Welfare had approved Optune Pax for adults with unresectable locally advanced pancreatic cancer, in combination with gemcitabine and nab-paclitaxel. In the United States, Novocure expected a Food and Drug Administration decision during the fourth quarter of 2026 on its premarket approval application for using TTFields therapy for brain metastases from non-small cell lung cancer. The company also aims to complete enrollment in the phase 3 KEYNOTE D58 trial during the same quarter. The trial is testing the treatment in patients with newly diagnosed glioblastoma. These are the company’s specified fourth-quarter milestones, alongside the expected contribution of Lua and Pax to annual revenue.
EL7 data show the stock closed at $14.62 on October 27 and at $14.17 on October 28. The premarket decline on October 29 followed that close, at the price reported by Investing.com. Available trading data identify the closing prices for the two previous sessions but do not include a price range for the October 28 session. The new guidance raises both the lower and upper ends of annual revenue compared with the previous range, alongside an increase in the expected adjusted EBITDA range. The FDA decision and completion of enrollment in KEYNOTE D58 remain targeted for the fourth quarter of 2026.