NovoCure Q1 revenue up 12% to $174.1M; FDA approval triggers one-time charge

Filed April 30, 2026 · Period ending March 31, 2026 · Compared to 10-Q Apr 24, 2025 · ~2 min read

Key Changes

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  FDA approved Optune Pax for locally advanced pancreatic cancer during Q1, triggering a $43.4M non-cash accounting charge for executive performance shares that were expensed but not distributed. The PSUs are now cancelled; this is a one-time event.

  MD&A: Optune Pax FDA approval verify on EDGAR →
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  Revenue grew 12% to$$174.1M driven by international expansion (Germany +$5.8M, France +$5.0M, Spain launch) and U.S. patient growth. Gross margin expanded to 78% from 75% as array costs fell 9% per patient, reflecting supply chain improvements.

  MD&A: Revenue and margins verify on EDGAR →
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  Active patients reached 4,791 (up 12% YoY) with 83 new Optune Pax patients in U.S. and double-digit growth across Germany, France, and Japan. Optune Lua revenue doubled to $3.0M; Japan approved national reimbursement for NSCLC in March.

  MD&A: Patient growth and Japan reimbursement verify on EDGAR →