NovoCure Ltd Files 2024 Q2 10-Q Financial Report

TL;DR

NovoCure's Q2 2024 10-Q is in. Check financials.

AI Summary

NovoCure Ltd filed its 10-Q for the period ending June 30, 2024. The filing covers the second quarter of 2024 and provides financial updates for the company. Key financial data and operational details are presented for investors and stakeholders.

Why It Matters

This filing provides investors with the latest financial performance and operational status of NovoCure Ltd, crucial for understanding the company's trajectory in the medical device sector.

Risk Assessment

Risk Level: medium — As a medical device company, NovoCure faces inherent risks related to product development, regulatory approvals, and market adoption.

Key Numbers

• 2024 Q2 — Reporting Period (The second quarter of 2024 financial performance is detailed.)

Key Players & Entities

• NovoCure Ltd (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period
• 20240725 (date) — Filing date of the report

FAQ

Filing Documents

• nvcr-20240630.htm (10-Q) — 1219KB
• nvcr-20240630xexx311.htm (EX-31.1) — 9KB
• nvcr-20240630xexx312.htm (EX-31.2) — 10KB
• nvcr-20240630xexx321.htm (EX-32.1) — 6KB
• nvcr-20240630xexx322.htm (EX-32.2) — 6KB
• nvcr-20240630_g1.jpg (GRAPHIC) — 112KB
• 0001645113-24-000019.txt ( ) — 7074KB
• nvcr-20240630.xsd (EX-101.SCH) — 39KB
• nvcr-20240630_cal.xml (EX-101.CAL) — 58KB
• nvcr-20240630_def.xml (EX-101.DEF) — 184KB
• nvcr-20240630_lab.xml (EX-101.LAB) — 528KB
• nvcr-20240630_pre.xml (EX-101.PRE) — 374KB
• nvcr-20240630_htm.xml (XML) — 1216KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 2 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 29 Item 4.

Controls and Procedures

Controls and Procedures 29

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 31 Item 1A.

Risk Factors

Risk Factors 31 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 3. Defaults Upon Senior Securities 31 Item 4. Mine Safety Disclosures 31 Item 5. Other Information 31 Item 6. Exhibits 33

Signatures

Signatures 34 1 Table of Contents

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements NOVOCURE LIMITED AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS U.S. dollars in thousands (except share data) June 30, 2024 December 31, 2023 Unaudited Audited ASSETS CURRENT ASSETS: Cash and cash equivalents $ 164,796 $ 240,821 Short-term investments 786,390 669,795 Restricted cash 3,647 1,743 Trade receivables, net 64,703 61,221 Receivables and prepaid expenses 32,858 22,677 Inventories 40,442 38,152 Total current assets 1,092,836 1,034,409 LONG-TERM ASSETS: Property and equipment, net 66,477 51,479 Field equipment, net 11,719 11,384 Right-of-use assets 29,076 34,835 Other long-term assets 12,062 14,022 Total long-term assets 119,334 111,720 TOTAL ASSETS $ 1,212,170 $ 1,146,129 The accompanying notes are an integral part of these unaudited consolidated financial statements. 2 Table of Contents NOVOCURE LIMITED AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS U.S. dollars in thousands (except share data) June 30, 2024 December 31, 2023 Unaudited Audited LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Trade payables $ 90,171 $ 94,391 Other payables, lease liabilities and accrued expenses 79,007 84,724 Total current liabilities 169,178 179,115 LONG-TERM LIABILITIES: Convertible note 556,508 568,822 Senior secured credit facility, net 96,962 — Long-term leases 21,731 27,420 Employee benefit liabilities 6,023 8,258 Other long-term liabilities 18 18 Total long-term liabilities 681,242 604,518 TOTAL LIABILITIES 850,420 783,633 COMMITMENTS AND CONTINGENCIES SHAREHOLDERS' EQUITY: Share capital - Ordinary shares no par value, unlimited shares authorized; issued and outstanding: 108,013,830 shares and 107,075,754 shares at June 30, 2024 (unaudited) and December 31, 2023, respectively — — Additional paid-in capital 1,422,903 1,353,468 Accumulated other comprehensive income (loss) ( 3,515 ) ( 5,469 ) Retained earnings (accumulated deficit) ( 1,057,638 ) ( 985,503 ) TOTAL SHAREHOLDERS' EQ

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View this 10-Q filing on SEC EDGAR