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We are a global oncology company with a proprietary platform technology called Tumor Treating Fields ("TTFields"), which are electric fields that exert physical forces to kill cancer cells. Our key priorities are to drive commercial adoption of Optune Gio , Optune Lua , and Optune Pax , our commercial TTFields therapy devices, obtain regulatory approval to market TTFields therapy devic…
The business is unprofitable at the operating level (-23.47% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 8.3%, steady but not accelerating.
ROIC dropped from -18.55% to -22.62%, capital efficiency is deteriorating. Negative free cash flow of -$76M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$674M
▲ +8.3% YoY
Net Income (TTM)
-$173M
▲ +19.2% YoY
Op. Margin
-27.19%
▲ +4.7pp YoY
ROIC
-33.39%
▼ -4.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$48M
▼ -9.3% YoY
Op. Cash Flow (TTM)
-$27M
▼ -85.9% YoY
Net Debt
-$393M
Net Cash Position
Cash & Equiv.
$432M
5Y CAGR: +5.8%
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