Novocure Limited (NASDAQ:NVCR) Q4 2022 Results Earnings Conference Call February 23, 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

Pritesh Shah - Chief Growth Officer

Conference Call Participants

Na Sun - JPMorgan Chase & Co.

Jason Wittes - Loop Capital

Lei Huang - Wells Fargo

Jason Bednar - Piper Sandler

Greg Fraser - Truist Securities

Vijay Kumar - Evercore ISI

Emily Bodnar - H.C. Wainwright

Ingrid Goldberg

Good morning, everyone, and thank you for joining us to review Novocure's Fourth Quarter and Full Year 2022 Performance. I'm joined on the phone by 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 this earnings release can be found on our website, www.Novocure.com, under Quarterly Reports on our Investor Relations page.

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 our Investor Relations page on 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, everyone. Novocure was founded in 2000 to exploit the novel finding that electric fields can be harnessed to kill cancer cells and extend cancer patient survival. Since 2000, we've treated over 27,000 patients, built a resilient commercial business and invested in extensive clinical and product development programs to enhance and expand the incredible capabilities of Tumor Treating Fields therapy for the treatment of solid tumor cancers.