Brainsway Stock Earnings Reports

BrainsWay reported a strong start to 2026 with first-quarter revenue of $15.5M, up 35% year-over-year, driven by 117 Deep TMS system placements (44% YoY) and an installed base of ~1,820 systems. Remaining performance obligations increased to $75M, and the company achieved its 11th consecutive profitable quarter with net income of $2.3M and adjusted EBITDA of $2.8M (up 119% YoY). BrainsWay remains debt-free with $58.9M cash on hand and invested roughly $9M during Q1 in strategic initiatives. Key strategic drivers include: expanded payer coverage and access (including allowances for nurse practitioners and early payers adopting SWIFT), strong clinical momentum for the 6-day SWIFT protocol (published data showing high response/remission rates), ongoing clinical programs (multicenter alcohol use disorder trial and an imminent PTSD submission targeting MDD comorbidity), international distributor growth, minority equity investments in mental-health provider networks (5 completed, more in process), and an increased investment in Neurolief/ProlivRx (total convertible loan $11M) to broaden home-use neuromodulation reach. Full-year 2026 guidance: revenue $66M–$68M (27%–30% growth), operating income ~13%–14% of revenue, and adjusted EBITDA $12M–$14M (86%–100% growth over 2025). Management expects ongoing payer adoption of SWIFT and anticipates FDA interaction on the PTSD filing with a target clearance before year-end.