Novocure Company
NOVOCURE
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The Israeli developer of medical equipment for the treatment of aggressive cancer strains publishes its results for the fourth quarter of 2021, in which it missed the expectations of top and bottom analysts, with revenues of $ 133 million, along with a net loss of $ 0.25 per share.
The company’s revenues in the last quarter of the year were about $ 133.2 million, a decrease of about 7.4% compared to about $ 143.9 million in the corresponding quarter last year. The decrease is attributed to the fact that during the quarter the company did not recognize material income from the Medicare program reserves. Compared to the $ 11 million received in the fourth quarter of 2020. Early analysts’ expectations were for revenues of about $ 135.4 million.
Bottom line, the company reports a adjusted adjusted net loss of $ 26.5 million (loss of $ 0.25 per share), compared to net income of approximately $ 4.9 million (earnings of $ 0.05 per share). In doing so, the company missed analysts’ expected adjusted loss of $ 0.1 per share.
Adjusted EBITDA for the quarter was $ 1.7 million, a decrease of about 95% compared to about $ 34.8 million in the corresponding quarter last year.
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