Episode
Novocure Stock: Its First-Ever Profit — and the Stock STILL Round-Tripped. Why We Say SPEC BUY (NVCR Q2 2026)
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- Jul 25, 2026
- Duration seconds
- 868
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Summary
Novocure (NVCR) Q2 2026 — Novocure (NVCR), the pioneer of Tumor Treating Fields cancer therapy (Optune), reported its strongest quarter ever for Q2 2026: record net revenue of $183.6M (+16% YoY) beat the ~$172M estimate, the net loss narrowed to -$0.13 (vs a -$0.33 estimate), gross margin expanded to 77.6%, and — for the first time in company history — adjusted EBITDA turned POSITIVE at +$10.8M. Global active patients hit a record 5,128 (+18%), led by Optune Gio in glioblastoma (4,636) with the growth kicker being Optune Pax in pancreatic cancer (285 US patients, 418 scripts, plus a new CE Mark) and Optune Lua in lung. Management RAISED full-year guidance to $710-725M in revenue (from $690-710M) and adjusted EBITDA to $0 to +$15M, and redesigned its LUNAR-2 trial to save ~$90M, redirected to pancreatic. The balance sheet holds ~$207M net cash. Yet the stock spiked 28% on the print, then round-tripped to ~$17.65 after an ~80% run off its $9.82 low — and the flagship TRIDENT glioblastoma trial showed no statistically significant survival benefit. Our call: SPEC BUY. Novocure is the pioneer of Tumor Treating Fields (TTFields) — wearable Optune devices that use alternating electric fields to disrupt cancer cells as they divide, approved today in glioblastoma, pancreatic and lung cancer. Q2 2026 was the strongest quarter in company history: record net revenue of $183.6M (+16% YoY) beat the ~$172M estimate, the net loss narrowed to just -$0.13 a share (vs a -$0.33 estimate), gross margin expanded to 77.6%, and adjusted EBITDA turned POSITIVE at +$10.8M — the first profitable quarter, by that measure, ever. Record 5,128 active patients (+18%) span all three products, with Optune Pax in pancreatic cancer (285 US patients, 418 scripts, new CE Mark) the biggest swing factor. Man…