(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | |||||||||
(Address of Principal Executive Offices) | (Zip Code) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Exhibit No. | Description | ||||
99.1 | |||||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
Three months ended June 30, | Six months ended June 30, | Year ended December 31, | |||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2021 | |||||||||||||||||||||||||
Unaudited | Unaudited | Audited | |||||||||||||||||||||||||||
Net revenues | $ | 140,866 | $ | 133,517 | $ | 278,413 | $ | 268,212 | $ | 535,031 | |||||||||||||||||||
Cost of revenues | 28,503 | 28,599 | 56,230 | 54,984 | 114,877 | ||||||||||||||||||||||||
Gross profit | 112,363 | 104,918 | 222,183 | 213,228 | 420,154 | ||||||||||||||||||||||||
Operating costs and expenses: | |||||||||||||||||||||||||||||
Research, development and clinical studies | 57,075 | 50,315 | 99,309 | 96,231 | 201,303 | ||||||||||||||||||||||||
Sales and marketing | 44,750 | 34,138 | 82,634 | 65,495 | 137,057 | ||||||||||||||||||||||||
General and administrative | 31,666 | 32,760 | 62,174 | 63,885 | 126,127 | ||||||||||||||||||||||||
Total operating costs and expenses | 133,491 | 117,213 | 244,117 | 225,611 | 464,487 | ||||||||||||||||||||||||
Operating income (loss) | (21,128) | (12,295) | (21,934) | (12,383) | (44,333) | ||||||||||||||||||||||||
Financial expenses (income), net | 2,228 | 940 | 3,937 | 3,586 | 7,742 | ||||||||||||||||||||||||
Income (loss) before income taxes | (23,356) | (13,235) | (25,871) | (15,969) | (52,075) | ||||||||||||||||||||||||
Income taxes | 652 | 1,406 | 2,784 | 2,800 | 6,276 | ||||||||||||||||||||||||
Net income (loss) | $ | (24,008) | $ | (14,641) | $ | (28,655) | $ | (18,769) | $ | (58,351) | |||||||||||||||||||
Basic net income (loss) per ordinary share | $ | (0.23) | $ | (0.14) | $ | (0.27) | $ | (0.18) | $ | (0.56) | |||||||||||||||||||
Weighted average number of ordinary shares used in computing basic net income (loss) per share | 104,627,789 | 103,484,866 | 104,408,164 | 103,061,557 | 103,433,274 | ||||||||||||||||||||||||
Diluted net income (loss) per ordinary share | $ | (0.23) | $ | (0.14) | $ | (0.27) | $ | (0.18) | $ | (0.56) | |||||||||||||||||||
Weighted average number of ordinary shares used in computing diluted net income (loss) per share | 104,627,789 | 103,484,866 | 104,408,164 | 103,061,557 | 103,433,274 |
June 30, 2022 | December 31, 2021 | ||||||||||
Unaudited | Audited | ||||||||||
ASSETS | |||||||||||
CURRENT ASSETS: | |||||||||||
Cash and cash equivalents | $ | 367,014 | $ | 208,802 | |||||||
Short-term investments | 581,503 | 728,898 | |||||||||
Restricted cash | 749 | 807 | |||||||||
Trade receivables, net | 97,563 | 93,567 | |||||||||
Receivables and prepaid expenses | 18,195 | 17,025 | |||||||||
Inventories | 29,531 | 24,427 | |||||||||
Total current assets | 1,094,555 | 1,073,526 | |||||||||
LONG-TERM ASSETS: | |||||||||||
Property and equipment, net | 26,561 | 22,693 | |||||||||
Field equipment, net | 12,377 | 12,923 | |||||||||
Right-of-use assets | 18,281 | 18,267 | |||||||||
Other long-term assets | 10,898 | 12,086 | |||||||||
Total long-term assets | 68,117 | 65,969 | |||||||||
TOTAL ASSETS | $ | 1,162,672 | $ | 1,139,495 | |||||||
June 30, 2022 | December 31, 2021 | ||||||||||
Unaudited | Audited | ||||||||||
LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||||||
CURRENT LIABILITIES: | |||||||||||
Trade payables | $ | 79,910 | $ | 72,600 | |||||||
Other payables, lease liabilities and accrued expenses | 55,489 | 70,002 | |||||||||
Total current liabilities | 135,399 | 142,602 | |||||||||
LONG-TERM LIABILITIES: | |||||||||||
Long-term debt, net | 563,846 | 562,216 | |||||||||
Deferred revenue | 4,541 | 6,477 | |||||||||
Long-term leases | 13,377 | 12,997 | |||||||||
Employee benefit liabilities | 3,598 | 4,543 | |||||||||
Other long-term liabilities | 239 | 166 | |||||||||
Total long-term liabilities | 585,601 | 586,399 | |||||||||
TOTAL LIABILITIES | 721,000 | 729,001 | |||||||||
COMMITMENTS AND CONTINGENCIES | |||||||||||
SHAREHOLDERS' EQUITY: | |||||||||||
Share capital - | |||||||||||
Ordinary shares no par value, unlimited shares authorized; issued and outstanding: 104,727,685 shares and 103,971,263 shares at June 30, 2022 (unaudited) and December 31, 2021, respectively | — | — | |||||||||
Additional paid-in capital | 1,158,348 | 1,099,589 | |||||||||
Accumulated other comprehensive income (loss) | (2,095) | (3,169) | |||||||||
Retained earnings (accumulated deficit) | (714,581) | (685,926) | |||||||||
TOTAL SHAREHOLDERS' EQUITY | 441,672 | 410,494 | |||||||||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 1,162,672 | $ | 1,139,495 |
Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||||||||||||||
2022 | 2021 | % Change | 2022 | 2021 | % Change | ||||||||||||||||||||||||||||||
Net income (loss) | $ | (24,008) | $ | (14,641) | 64 | % | $ | (28,655) | $ | (18,769) | 53 | % | |||||||||||||||||||||||
Add: Income tax | 652 | 1,406 | (54) | % | 2,784 | 2,800 | (1) | % | |||||||||||||||||||||||||||
Add: Financial expenses (income), net | 2,228 | 940 | 137 | % | 3,937 | 3,586 | 10 | % | |||||||||||||||||||||||||||
Add: Depreciation and amortization | 2,654 | 2,480 | 7 | % | 5,264 | 4,850 | 9 | % | |||||||||||||||||||||||||||
EBITDA | $ | (18,474) | $ | (9,815) | 88 | % | $ | (16,670) | $ | (7,533) | 121 | % | |||||||||||||||||||||||
Add: Share-based compensation | 25,823 | 27,881 | (7) | % | 50,868 | 46,744 | 9 | % | |||||||||||||||||||||||||||
Adjusted EBITDA | $ | 7,349 | $ | 18,066 | (59) | % | $ | 34,198 | $ | 39,211 | (13) | % |
Document and Entity Information Document |
1 Months Ended |
---|---|
Jul. 31, 2022 | |
Cover [Abstract] | |
Document Type | 8-K |
Document Period End Date | Jul. 28, 2022 |
Entity Registrant Name | NovoCure Limited |
Entity Central Index Key | 0001645113 |
Amendment Flag | false |
Entity Incorporation, State or Country Code | Y9 |
Entity File Number | 001-37565 |
Entity Tax Identification Number | 98-1057807 |
Entity Address, Address Line One | No. 4 The Forum, Grenville Street |
Entity Address, City or Town | St. Helier |
Entity Address, Country | JE |
Entity Address, Postal Zip Code | JE2 4UF |
City Area Code | 44 (0) 15 |
Local Phone Number | 3475 6700 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Ordinary Shares, no par value |
Trading Symbol | NVCR |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
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