NovoCure Ltd
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
NVCR$11.81-5.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows for the years ended
| Year ended December 31, | |||
|---|---|---|---|
| U.S. dollars in thousands | 2025 | 2024 | 2023 |
| Cash flows from operating activities: | |||
| Net income (loss) | $(136,227) | $(168,627) | $(207,043) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 14,650 | 11,235 | 10,969 |
| Accrued interest | 4,949 | (651) | (95) |
| Asset write-downs and impairment of field equipment | 4,851 | 1,159 | 493 |
| Share-based compensation | 104,832 | 160,035 | 115,608 |
| Foreign currency remeasurement loss (gain) | 1,251 | (227) | 161 |
| Decrease (increase) in accounts receivables and prepaid expenses | (38,938) | (26,358) | 29,414 |
| Amortization of discount (premium) | (23,262) | (25,644) | (23,084) |
| Decrease (increase) in inventories | (5,668) | 2,568 | (8,919) |
| Decrease (increase) in other long-term assets | 10,847 | 7,395 | 4,072 |
| Increase (decrease) in accounts payables and accrued expenses | 18,958 | 19,106 | 14,869 |
| Increase (decrease) in other long-term liabilities | (5,274) | (6,360) | (9,781) |
| Net cash provided by (used in) operating activities | $(49,031) | $(26,369) | $(73,336) |
| Cash flows from investing activities: | |||
| Purchase of property, equipment and field equipment | (26,648) | (42,855) | (27,093) |
| Proceeds from maturity of short-term investments | 1,285,000 | 778,000 | 1,214,982 |
| Purchase of short-term investments | (821,076) | (875,387) | (1,003,741) |
| Net cash provided by (used in) investing activities | $437,276 | $(140,242) | $184,148 |
| Year ended December 31, | |||
|---|---|---|---|
| U.S. dollars in thousands | 2025 | 2024 | 2023 |
| Cash flows from financing activities: | |||
| Proceeds from issuance of shares, net | $3,656 | $4,150 | $4,416 |
| Proceeds from senior secured credit facility, net | 99,979 | 96,922 | — |
| Repayment and redemption of long-term debt | (560,945) | (12,913) | (10) |
| Tax payments related to net settlements on equity awards | (146) | — | — |
| Exercise of options | 6,113 | 2,156 | 11,381 |
| Net cash provided by (used in) financing activities | $(451,343) | $90,315 | $15,787 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | $394 | $(174) | $131 |
| Increase (decrease) in cash, cash equivalents and restricted cash | (62,704) | (76,470) | 126,730 |
| Cash, cash equivalents and restricted cash at the beginning of the year | 166,094 | 242,564 | 115,834 |
| Cash, cash equivalents and restricted cash at the end of the year | $103,390 | $166,094 | $242,564 |
| Supplemental cash flow activities: | |||
| Cash paid during the year for: | |||
| Income taxes paid (refunded), net | $30,673 | $23,463 | $13,665 |
| Interest paid | $13,406 | $7,714 | $6 |
| Reconciliation of cash, cash equivalents and restricted cash: | |||
| Cash and cash equivalents | $93,548 | $163,767 | $240,821 |
| Restricted cash | $9,842 | $2,327 | $1,743 |
| Total cash, cash equivalents and restricted cash | $103,390 | $166,094 | $242,564 |
| Non-cash activities: | |||
| Right-of-use assets obtained in exchange for lease liabilities | $29,369 | $494 | $18,063 |
| Purchase of property incurred but unpaid at period end | $886 | $1,619 | $1,714 |
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