BrainsWay Ltd. Investor Deck - March 2026

BrainsWay Ltd. has released an investor deck for March 2026, highlighting significant growth and profitability. The company reported Q4 2025 revenue of $14.5M, a 27% year-over-year increase, and full-year revenue of $52.2M, also up 27%. Adjusted EBITDA for Q4 2025 was $2.3M, a 53% increase YoY, with full-year Adjusted EBITDA at $7M, up 56% YoY. Net income for the full year was $7.6M, a 161% increase. The company has an installed base of over 1,700 treatment centers and has received FDA clearance for four indications: Major Depressive Disorder (MDD), Obsessive-Compulsive Disorder (OCD), Smoking Addiction, and Anxious Depression. Recent developments include FDA clearance for an accelerated Deep TMS protocol for MDD and securing the first insurer coverage for this protocol. BrainsWay is focusing on an Annual Recurring Revenue (ARR) model, with approximately 70% of new engagements being multi-year leases, contributing to a Remaining Performance Obligations (RPO) of $70M. The company has a strong balance sheet with ~$68M in cash and no debt. Future growth strategies include expanding into new indications, new care settings, and strategic equity investments in mental health providers. They are also exploring home-use neuromodulation and international expansion.