NovoCure Limited (NASDAQ:NVCR) Q1 2023 Earnings Conference Call May 4, 2023 8:00 AM ET

Company Participants

Ingrid Goldberg - Vice President of Investor Relations

William Doyle - Executive Chairman

Asaf Danziger - Chief Executive Officer

Ashley Cordova - Chief Financial Officer

Frank Leonard - President, CNS Cancers U.S.

Conference Call Participants

Greg Fraser - Truist Securities

Emily Bodnar - H.C. Wainwright

Na Sun - JPMorgan Chase & Co.

Operator

Good day, and thank you for standing by. Welcome to the NovoCure's Q1 2023 Earnings Conference Call. [Operator Instructions] Please be advised that today’s conference is being recorded.

I would now like to hand the conference over to your speaker today, Ingrid Goldberg. Please go ahead.

Ingrid Goldberg

Good morning, everyone. Thank you for joining us to review NovoCure's First Quarter 2023 Performance. I'm on the phone this morning with our Executive Chairman, Bill Doyle; our CEO, Asaf Danziger; and our CFO, Ashley Cordova. Other members of our executive leadership team are also on the call and available for Q&A.

For your reference, slides accompanying the earnings release can be found on our website, www.novocure.com, on the Investor Relations page under Quarterly Reports.

Before we start, I would like to remind you that our discussions during this conference call will include forward-looking statements and actual results could differ materially from those projected in these statements. These statements involve a number of risks and uncertainties, some of which are beyond our control and are described from time to time in our SEC filings. We do not intend to update publicly any forward-looking statements, except as required by law.

Where appropriate, we refer to non-GAAP financial measures to evaluate our business, specifically adjusted EBITDA, a measure of earnings before interest, taxes, depreciation, amortization and share-based compensation. We believe adjusted EBITDA is an important metric as it removes the impact of earnings attributable to our capital structure, tax rate and material non-cash items; and best reflects the financial value generated by our business.

Reconciliations of non-GAAP to GAAP financial measures are included in our press release, earnings slides and in our Form 8-K filed with the SEC today. These materials can also be accessed from the Investor Relations page of our website. Following our prepared remarks today, we will open the line for your questions.

I will now turn the call over to our Executive Chairman, Bill Doyle.

William Doyle

Thank you, Ingrid, and good morning. At NovoCure, our mission is to extend the lives of patients diagnosed with aggressive forms of cancer. Over the last two decades, we've completed multiple successful clinical trials, expanded our international footprint to include 10 global markets, published over 500 manuscripts, built a strong and sustainable business model, and most importantly treated over 27,000 commercial patients.