Carl Byrnes

Raghuram Selvaraju

- BrainsWay Ltd. announced **two additional minority stake strategic investments** in U.S. mental health providers, bringing its total strategic minority investments in **2025 to four**.  **[1505065_0001171843-25-006667_exh_991.htm:0]** 
- One of these investments is an **equity financing agreement with Tangient ATX Inc.**, which services the "Heading Health" mental health clinic network.  **[1505065_0001171843-25-006667_exh_991.htm:0]** 
- BrainsWay will initially invest **$1.5 million** in Heading Health, with potential for up to an additional **$2.5 million** via milestone-based investments, securing a minority position.  **[1505065_0001171843-25-006667_exh_991.htm:0]** 
- The company's strategy behind these investments is to **accelerate patient access and awareness** of its Deep TMS Therapy and drive long-term shareholder value.  **[1505065_0001171843-25-006667_exh_991.htm:0]**

BrainsWay Announces Additional Minority-Stake Investments in U.S. Mental Health Providers

- BrainsWay Ltd. reported **revenues of $24.168 million** for the six months ended June 30, 2025, representing a **27% increase** from **$19.100 million** in the same period of 2024.  **[1505065_0001171843-25-006185_f6k_092525.htm:1]** **[1505065_0001171843-25-006185_f6k_092525.htm:12]** **[1505065_0001171843-25-006185_f6k_092525.htm:15]** 
- **Net profit** for the six months ended June 30, 2025, was **$3.134 million**, a **341% increase** compared to **$0.711 million** in the prior year period.  **[1505065_0001171843-25-006185_f6k_092525.htm:1]** **[1505065_0001171843-25-006185_f6k_092525.htm:12]** 
- The company made several **strategic investments**, including **$5 million** in Stella MSO, LLC in June 2025, an initial **$2.3 million** in Axis Management Company, Inc. in August 2025, and a **$5 million** convertible loan to Neurolief Ltd. in August 2025.  **[1505065_0001171843-25-006185_f6k_092525.htm:7]** **[1505065_0001171843-25-006185_f6k_092525.htm:12]** **[1505065_0001171843-25-006185_f6k_092525.htm:17]** 
- **Net cash provided by operating activities** significantly increased to **$17.393 million** for the six months ended June 30, 2025, up from **$4.526 million** in the comparable 2024 period.  **[1505065_0001171843-25-006185_f6k_092525.htm:3]** **[1505065_0001171843-25-006185_f6k_092525.htm:17]** 
- As of June 30, 2025, BrainsWay Ltd. held **$78.3 million** in cash, cash equivalents, restricted cash, and short-term deposits, and management believes existing cash resources are sufficient for the foreseeable future.  **[1505065_0001171843-25-006185_f6k_092525.htm:16]** **[1505065_0001171843-25-006185_f6k_092525.htm:12]**

BrainsWay Ltd. Reports Strong H1 2025 Financial Results and Strategic Investments

- BrainsWay Ltd. received **FDA clearance** on **September 16, 2025**, for an **accelerated Deep TMS protocol** for the non-invasive treatment of Major Depressive Disorder (MDD), including those with comorbid anxiety symptoms.  **[1505065_0001171843-25-005914_exh_991.htm:0]** 
- This new protocol significantly shortens the acute treatment phase to **6 days** (5 sessions per day over a 14-day period), compared to the previous standard protocol of 4 weeks of daily sessions.  **[1505065_0001171843-25-005914_exh_991.htm:0]** 
- Clinical data demonstrated that the accelerated protocol achieved **comparable efficacy** to the standard Deep TMS, with HDRS-21 depression scores reduced by **19.02 points** in the accelerated group versus **19.79 points** in the standard group, and similar response and remission rates.  **[1505065_0001171843-25-005914_exh_991.htm:0]** 
- The accelerated protocol is now **commercially available in the United States**, and BrainsWay is focusing on provider training and seeking updates to reimbursement policies.  **[1505065_0001171843-25-005914_exh_991.htm:0]**

Brainsway (BWAY)