Research analysts who have asked questions during Brainsway earnings calls.
CB
Carl Byrnes
Northland Capital Markets
6 questions for BWAY
Also covers: ALVO, BLFS, DRRX +6 more
RS
Raghuram Selvaraju
H.C. Wainwright & Co.
4 questions for BWAY
Also covers: ABEO, ACOG, AQST +20 more
JC
Jeffrey Cohen
Ladenburg Thalmann
2 questions for BWAY
Also covers: CCLD, DYNT, ECOR +8 more
RS
Ram Selvaraju
H.C. Wainwright
2 questions for BWAY
Also covers: ABEO, ADXN, BCPC +8 more
Recent press releases and 8-K filings for BWAY.
BrainsWay Reports Strong Q3 2025 Results and Outlines Growth Strategy
BWAY
Earnings
Guidance Update
New Projects/Investments
- BrainsWay reported Q3 2025 revenue of $13.5 million, a 29% year-over-year increase, with a 75% gross margin and $1.6 million net profit, up 137%.
- The company is transitioning to a recurring revenue model, with 70% of new deals being multi-year leases, and recurring revenue growing 34% year-over-year. Remaining performance obligation reached $65 million, up 37% year-over-year.
- Key clinical milestones include FDA clearance for the accelerated protocol for MDD and adolescent MDD. BrainsWay is also expanding into new indications and developing a home-use neuromodulation system through an investment in Neuralif.
- BrainsWay maintains a strong financial position with $71 million in cash and 10 consecutive quarters of positive free cash flow, reaffirming its 2025 revenue guidance of $52 million.
Dec 1, 2025, 3:00 PM
Brainsway Reports Strong Q3 2025 Performance and Outlines Strategic Growth Drivers
BWAY
Revenue Acceleration/Inflection
New Projects/Investments
Guidance Update
- Brainsway reported strong Q3 2025 revenue of $13.5 million, an increase of 29% year-over-year, with a 75% gross margin, $2 million in adjusted EBITDA (up 81%), and $1.6 million in net profit (up 137%).
- The company is shifting towards a recurring revenue business model, with recurring revenue growing 34% year-over-year and a remaining performance obligation of $65 million, up 37% year-over-year.
- Key strategic initiatives include FDA clearance for the accelerated protocol for MDD, a $2.5 million NIH grant supporting Deep TMS for alcohol use disorder, and strategic minority investments in mental health networks, alongside a partnership with Nuwolif for a home-use neuronal dilation system.
- Brainsway maintains a strong financial position with $71 million in cash and no debt, and reaffirms its 2025 revenue guidance of $52 million, anticipating 2026 to be a "breakout year".
Dec 1, 2025, 3:00 PM
BrainsWay Analyst & Investor Day 2025 Highlights Strategic Growth and Strong Q3 Performance
BWAY
Revenue Acceleration/Inflection
New Projects/Investments
Guidance Update
- BrainsWay reported Q3 2025 revenue of $13.5 million, a 29% year-over-year increase, with a 75% gross margin, $2 million in Adjusted EBITDA (up 81%), and $1.6 million in net profit (up 137%).
- The company is transitioning to a recurring revenue model, with $65 million in remaining performance obligation (up 37% year-over-year) and recurring revenue growing 34% year-over-year. BrainsWay maintains a strong financial position with $71 million in cash and no debt, and reaffirms its 2025 revenue guidance of $52 million.
- Key strategic initiatives include FDA clearance for the accelerated protocol for MDD and adolescent MDD, strategic minority investments in mental health clinics, and expansion into home use with its investment in Neuralif.
- BrainsWay is also pursuing new clinical indications such as PTSD, addiction, and cognitive decline, and developing its next-generation Deep TMS 360 platform.
Dec 1, 2025, 3:00 PM
BrainsWay receives FDA clearance for Deep TMS in adolescent MDD
BWAY
Product Launch
New Projects/Investments
- On November 13, 2025, BrainsWay Ltd. announced that its Deep TMS™ system received FDA clearance as an adjunct therapy for Major Depressive Disorder (MDD) in adolescents aged 15 to 21.
- This clearance positions Deep TMS™ as the first and only TMS device approved for treating depression in patients across the age range of 15 to 86.
- The 510(k) clearance was supported by real-world data from 1,120 adolescents treated between 2012 and 2024, showing an average improvement of 12.1 points on the PHQ-9 rating scale and a 66.1% response rate after 36 treatment sessions.
- BrainsWay's CEO, Hadar Levy, stated that this clearance allows the company to address a significant market segment, with approximately 5 million adolescents in the U.S. estimated to have experienced a major depressive episode within the past year.
Nov 13, 2025, 11:00 AM
BrainsWay Ltd. Reports Strong Q3 2025 Financial Results and Strategic Progress
BWAY
Earnings
Guidance Update
Product Launch
- BrainsWay Ltd. reported strong Q3 2025 financial results, with revenue of $13.5 million (+29% year-over-year), a gross margin of 75%, and Adjusted EBITDA of $2.0 million (+81%). The company also achieved a net profit of $1.6 million (+137%) for the quarter ended September 30, 2025.
- The company is transitioning to a high-margin Annual Recurring Revenue (ARR) model, with 70% of recent customer engagements structured as multi-year lease agreements. Remaining Performance Obligations (RPO) stood at $65 million as of June 2025.
- BrainsWay received FDA clearance for an accelerated Deep TMS protocol for Major Depressive Disorder (MDD) on September 16, 2025. As of September 30, 2025, the company held ~$71 million in cash with no debt. For Fiscal Year 2025, the company provides revenue guidance of $51 - 52 million.
Nov 12, 2025, 12:00 PM
BrainsWay Reports Strong Q3 2025 Financial Results and Raises Full-Year Guidance
BWAY
Earnings
Guidance Update
Revenue Acceleration/Inflection
- BrainsWay reported revenue of $13.5 million in Q3 2025, marking a 29% increase compared to Q3 2024.
- Operating income for Q3 2025 was $1.3 million, and Adjusted EBITDA increased 81% to $2.0 million compared to the prior year period.
- The company raised the midpoint of its full-year 2025 revenue guidance to $51 million – $52 million and its Adjusted EBITDA guidance to 13% – 14%.
- Remaining performance obligations increased to $65 million, and the FDA cleared an accelerated protocol for Deep TMS treatment of major depressive disorder (MDD).
- As of September 30, 2025, cash, cash equivalents, and restricted cash totaled $70.7 million.
Nov 12, 2025, 11:01 AM
BrainsWay Reports Record Q3 2025 Revenue and Raises Full-Year Guidance
BWAY
Earnings
Guidance Update
New Projects/Investments
- BrainsWay announced record quarterly revenue of $13.5 million for Q3 2025, marking a 29% increase year-over-year, and shipped 90 Deep TMS systems, a 43% increase from the prior year, bringing the total installed base to over 1,600 systems globally as of September 30, 2025.
- Following strong Q3 performance, the company raised its full-year 2025 guidance, now projecting revenue between $51 million and $52 million, operating profit in the range of 6%-7% of revenue, and adjusted EBITDA between 13%-14%.
- The U.S. FDA granted an expansion of the treatment protocol for the Deep TMS system to include an accelerated protocol for major depressive disorder (MDD) treatment.
- BrainsWay continued its strategic initiative of making minority interest investments, completing its third and fourth investments in 2025, including an initial strategic investment in Neurolief Ltd., an initiative supported by a $20 million strategic equity investment from Valor Equity Partners.
Nov 11, 2025, 1:30 PM
BrainsWay Reports Strong Q3 2025 Financial Results and FDA Clearance
BWAY
Earnings
Guidance Update
Product Launch
- BrainsWay reported strong Q3 2025 financial results, with revenue of $13.5 million (up 29% YoY), a gross margin of 75%, and net profit of $1.6 million (up 137% YoY). Adjusted EBITDA for the quarter was $2.0 million, an 81% increase.
- The company maintains a robust financial position with approximately $71 million in cash as of September 30, 2025 , and has $65 million in Remaining Performance Obligations.
- BrainsWay provided Fiscal Year 2025 revenue guidance of $51-52 million.
- Key strategic developments include the FDA clearance for an Accelerated Deep TMS Protocol for Major Depressive Disorder on September 16, 2025 , and Valor Equity Partners becoming the largest investor and an active partner.
Nov 11, 2025, 1:30 PM
BrainsWay Announces Record Q3 2025 Results and Raises Full-Year Guidance
BWAY
Earnings
Guidance Update
New Projects/Investments
- BrainsWay reported record quarterly revenue of $13.5 million for Q3 2025, marking a 29% increase compared to the same period last year, and shipped 90 Deep TMS systems, a 43% increase year-over-year.
- The company raised its full-year 2025 guidance, now expecting revenue in the range of $51 million-$52 million, operating profit between 6%-7% of revenue, and adjusted EBITDA between 13%-14%.
- For Q3 2025, operating profit increased to $1.3 million from $0.3 million in Q3 2024, and net profit rose to $1.6 million from $0.7 million in the same period of 2024.
- The U.S. FDA granted an expansion of the Deep TMS system's treatment protocol to include an accelerated protocol for major depressive disorder (MDD).
- BrainsWay made its third and fourth minority interest investments in 2025 and an initial strategic investment in Neurolief Ltd., with an option to fully acquire the company.
Nov 11, 2025, 1:30 PM
BrainsWay Reports Record Q3 2025 Revenue and Raises Full-Year Guidance
BWAY
Earnings
Guidance Update
New Projects/Investments
- BrainsWay announced record quarterly revenue of $13.5 million in Q3 2025, marking a 29% increase compared to the same period last year, and shipped 90 Deep TMS systems, a 43% increase.
- The company raised its full-year 2025 revenue guidance to a range of $51 million to $52 million (up from $50 million to $52 million), representing a 24% to 27% year-over-year growth.
- Full-year 2025 operating profit guidance was also increased to 6% to 7% of revenue (from 4% to 5%), and adjusted EBITDA guidance to 13% to 14% (from 12% to 13%).
- The U.S. FDA granted an expansion of the treatment protocol for the deep TMS system to include an accelerated protocol for major depressive disorder (MDD) treatment.
- BrainsWay is actively pursuing minority interest investments in mental health providers, having made its third and fourth investments in 2025, including NeuroLife LTD, and aims to sign at least one more before year-end.
Nov 11, 2025, 1:30 PM
Quarterly earnings call transcripts for Brainsway.
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