Filing Flows › Health Care › NovoCure (NVCR)
NovoCure (NVCR) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · NovoCure (NVCR) Q3 2026 earnings results →
Q3 2026 Revenue up 16% year over year to $193M · 5¢ of every $1 of revenue lost · operating margin -3.2%
NovoCure made $193M in Q3 2026 (+16% Y/Y). Operating margin -3.2%, net loss $10.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $193.4M in Q3 2026, up 16% year over year and up 5% from the previous quarter.
Gross margin was 77.0%, up 3.7 points from Q3 2025. Operating costs exceeded revenue by $6.2M, an operating margin of -3.2%. Operating expenses fell 2% while revenue rose 16%. The quarter ended with a net loss of $10.4M, narrower than the previous quarter's $15.7M loss.
Operating cash flow was $22.7M (up 10% year over year). Non-cash charges added back $4.4M of depreciation and amortization and $17.5M of share-based compensation. Working capital and other items added $11.2M. Capital expenditures of $6.9M left free cash flow of $15.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 29, 2026 | $193M | +16% | -3.2% | −$10.4M | $22.7M |
| Q2 2026 | 10-Q | Jul 23, 2026 | $184M | +16% | -5.8% | −$15.7M | $8.1M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $174M | +12% | -38.7% | −$71.1M | −$13.5M |
| Q4 2025 | 10-K | Feb 26, 2026 | $174M | +8% | -23.2% | −$24.5M | −$18.0M |
| Q3 2025 | 10-Q | Oct 30, 2025 | $167M | +8% | -21.5% | −$37.3M | $20.6M |
| Q2 2025 | 10-Q | Jul 24, 2025 | $159M | +6% | -24.9% | −$40.1M | −$15.9M |
| Q1 2025 | 10-Q | Apr 24, 2025 | $155M | +12% | -24.4% | −$34.3M | −$35.7M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
About NovoCure
We are a global oncology company with a proprietary platform technology called Tumor Treating Fields ("TTFields"), which are electric fields that exert physical forces to kill cancer cells. Our therapy is delivered through a medical device. Our key priorities are to drive commercial adoption of Optune Gio ® , Optune Lua ® , and Optune Pax ® , our commercial TTFields therapy devices, obtain regulatory approval to market TTFields therapy devices in new indications, such as brain metastases from non-small cell lung cancer ("NSCLC"), and to advance clinical and product development programs intended to extend overall survival in some of the most aggressive forms of cancer.
In its own words, from its 10-K, filed Feb 26, 2026.
NovoCure against its Surgical & Medical Instruments & Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +16% against the peers' median +5%. Operating margin: -3.2% against the peers' median 13.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| NVCR NovoCure | Q3 2026 | $193M | +16% | -3.2% |
| MDLN Medline | Q3 2026 | $7.9B | +10% | 6.4% |
| MMM 3M | Q3 2026 | $6.6B | +1% | 23.7% |
| SYK Stryker | Q3 2026 | $6.5B | +8% | 15.9% |
| BSX Boston Scientific | Q3 2026 | $5.1B | +1% | 16.1% |
| BDX Becton Dickinson | Q3 FY26 | $5.0B | +5% | 13.3% |
| BAX Baxter International | Q3 2026 | $3.0B | +5% | 7.6% |
| SOLV Solventum | Q3 2026 | $1.9B | -7% | 3.5% |
| RMD ResMed | Q1 FY27 | $1.4B | +6% | 32.0% |
Source: NovoCure 10-Q on SEC EDGAR · CIK 1645113 · Surgical & Medical Instruments & Apparatus
More on NVCR
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results