BrainsWay Ltd. (BWAY) Bundle
You're looking beyond the latest quarterly report to understand what truly drives BrainsWay Ltd.'s performance, and you're right to focus on their foundation-the mission, vision, and core values that underpin their financial results. The company's focus on advancing neuroscience to improve health is clearly translating to the bottom line, with Q3 2025 revenue hitting $13.5 million and net profit surging to $1.6 million, a 137% year-over-year increase. With full-year 2025 revenue guidance raised to the $51 million - $52 million range and $65 million in remaining performance obligations (contracted revenue visibility), the business momentum is defintely strong, but does this growth come from a clear, repeatable, and ethical framework? How do their stated principles of superior science and broad access to Deep Transcranial Magnetic Stimulation (Deep TMS) technology translate into a sustainable competitive advantage for investors and patients?
BrainsWay Ltd. (BWAY) Overview
You need a clear picture of BrainsWay Ltd. (BWAY), especially what drives their growth and where the money is coming from. The direct takeaway is this: BrainsWay is a specialized medical device company that has successfully cornered a niche in non-invasive psychiatric treatment, and their proprietary technology is translating into strong, profitable revenue growth, with full-year 2025 revenue projected to hit a range of $51 million - $52 million.
BrainsWay was founded in 2003, with dual headquarters in Burlington, Massachusetts, and Jerusalem, Israel. Their core business is centered on the Deep Transcranial Magnetic Stimulation (Deep TMS) system, which uses a patented H-coil to deliver magnetic pulses deeper into the brain than older-generation TMS devices. This Deep TMS technology is a non-invasive treatment for patients who haven't found relief from traditional medication.
The company generates revenue primarily through the sale and multi-year lease of these Deep TMS systems to clinics and hospitals. Current FDA-cleared indications for the system include major depressive disorder (MDD), obsessive-compulsive disorder (OCD), and smoking addiction. This is a focused product line, but it addresses a massive, underserved market. If you want to dive deeper into the company's foundation, you can check out BrainsWay Ltd. (BWAY): History, Ownership, Mission, How It Works & Makes Money.
- Founded: 2003
- Core Product: Deep TMS System
- 2025 Revenue Guidance: $51M - $52M
Q3 2025 Financial Performance: Revenue and Market Expansion
Looking at the latest data, BrainsWay is defintely executing on its strategy. The third quarter of 2025 (Q3 2025) was a record-setter, showing that their Deep TMS platform is gaining serious traction. Revenue for Q3 2025 climbed 29% year-over-year to $13.5 million. That's a solid jump, but the quality of the revenue is what really matters.
Here's the quick math: they shipped 90 Deep TMS systems in Q3 2025, which is a 43% increase from the same period last year, bringing the total installed base to over 1,600 systems. Plus, approximately 70% of new customer engagements are structured as multi-year lease agreements, which provides predictable, recurring revenue. This visibility is why their remaining performance obligations-the future contracted revenue-stand at a robust $65 million.
The strong sales momentum is also showing up in profitability. Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for Q3 2025 soared 81% to $2.0 million, and net profit increased 137% to $1.6 million. They're not just selling more; they're selling more profitably, holding a strong gross margin of 75%. They have a cash position of $70.7 million as of September 30, 2025, so they have the capital to fuel further growth.
BrainsWay's Position as an Industry Leader
BrainsWay is a global leader in advanced noninvasive neurostimulation treatments, and that's not just marketing fluff. Their Deep TMS technology is a key differentiator in the Transcranial Magnetic Stimulation (TMS) industry because the H-coil design allows for deeper, more targeted brain stimulation, which is crucial for treating complex mental health disorders.
Their leadership is validated by recent regulatory wins that open up huge new markets. In November 2025, the FDA cleared their Deep TMS system as an adjunct therapy for Major Depressive Disorder in adolescents aged 15 to 21, which is a significant expansion. Considering an estimated 5 million adolescents in the U.S. experienced a major depressive episode last year, this clearance is a massive opportunity for market penetration. They also recently received FDA clearance for an accelerated Deep TMS protocol for MDD, which reduces the treatment timeline and makes the therapy more accessible. These clearances cement their position and give them the broadest age range of any TMS system for depression treatment. You should find out more below to understand exactly why BrainsWay is so successful at turning clinical innovation into commercial success.
BrainsWay Ltd. (BWAY) Mission Statement
You're looking for the bedrock of BrainsWay Ltd.'s strategy-the mission statement-and what it means for their long-term value, which is smart. A company's mission isn't just marketing fluff; it's the operating manual for every major decision, from R&D spending to sales strategy. For BrainsWay, the mission is clear: to be a global leader in advanced noninvasive neurostimulation treatments for mental health disorders, boldly advancing neuroscience with its proprietary Deep Transcranial Magnetic Stimulation (Deep TMS™) platform technology to improve health and transform lives. This statement guides their push for superior science, broader access, and clinical validation.
This mission is directly tied to their financial health. The company is raising its full-year 2025 revenue guidance to between $51 million - $52 million, up from previous guidance, which shows their mission-driven product strategy is paying off. That's a strong signal. You can read more about their journey and business model here: BrainsWay Ltd. (BWAY): History, Ownership, Mission, How It Works & Makes Money.
Core Component 1: Global Leadership and Advancing Neuroscience
The first core component is about being the leader, not just a participant, in the field of advanced noninvasive neurostimulation. They are defintely dedicated to leading through superior science and building on an unparalleled body of clinical evidence. This isn't just a boast; it's a measurable commitment to research and regulatory milestones.
For example, in November 2025, the U.S. Food and Drug Administration (FDA) granted a label expansion for their Deep TMS™ system as an adjunct therapy for adolescents aged 15 to 21 with major depressive disorder (MDD). This expanded clearance allows them to reach the broadest age range of any Transcranial Magnetic Stimulation (TMS) system for depression, a huge market segment that is often underserved. They are the first and only TMS company to obtain three FDA-cleared indications, which currently include MDD, Obsessive-Compulsive Disorder (OCD), and smoking addiction. That kind of regulatory lead is a significant competitive moat.
- Lead with superior science.
- Obtain critical, first-in-class FDA clearances.
Core Component 2: Proprietary Technology to Transform Lives
The second pillar focuses on the actual impact of their proprietary Deep TMS™ platform: improving health and transforming lives. This is where the clinical data translates the mission into tangible patient outcomes. Their technology uses a cushioned helmet to noninvasively induce electrical currents in localized regions of the prefrontal cortex, which is a plain-English way of saying they can target the brain areas that matter without surgery.
The results from their multicenter, randomized trial on an accelerated Deep TMS protocol for MDD, announced in 2025, showed outcomes comparable to the standard treatment, but with shorter sessions. Specifically, the accelerated group showed an 87.8% response rate and a 78.0% remission rate. For the newly cleared adolescent MDD population, real-world evidence from 1,120 patients showed a 66.1% response rate and an average improvement of 12.1 points on the PHQ-9 depression scale. Here's the quick math: high response rates mean their technology is working for a majority of patients, which is the ultimate measure of their life-transforming mission.
Core Component 3: Commitment to Global Awareness and Broad Access
The final component is all about getting the technology into the hands of providers and patients who need it most. BrainsWay is committed to increasing global awareness of and broad access to Deep TMS. This isn't just altruism; it's the engine for their revenue growth and market penetration.
Their operational highlights from Q3 2025 show this commitment in action: they shipped a net total of 90 Deep TMS™ systems, a 43% increase year-over-year, bringing their total installed base to more than 1,600 systems. This growing installed base directly translates to future recurring revenue. About 70% of recent customer engagements are structured as multi-year lease agreements, giving them a backlog of $65 million in remaining performance obligations. This financial stability, driven by their access strategy, shows a healthy business model. More systems in clinics means more lives transformed, and that's a solid investment thesis.
BrainsWay Ltd. (BWAY) Vision Statement
You're looking past the quarterly noise to understand the long-term trajectory of a company, and for BrainsWay Ltd. (BWAY), the vision is clear: dominate the noninvasive neurostimulation market by rapidly expanding access and indications. Their strategy isn't just about selling Deep Transcranial Magnetic Stimulation (Deep TMS) systems; it's about leading a paradigm shift in mental health treatment. This is defintely a high-growth, high-risk sector, so you need to see their core beliefs in action.
The company's vision and mission can be distilled into three active pillars-Advancing Neuroscience, Improving Health and Transforming Lives, and Increasing Global Awareness and Broad Access-all of which are supported by their strong financial momentum. For the 2025 fiscal year, they've raised their revenue guidance to between $51 million and $52 million, a solid indicator that their vision is converting into commercial success.
Advancing Neuroscience: Leading with Superior Science
BrainsWay positions itself as a leader who prioritizes 'superior science' and an 'unparalleled body of clinical evidence'. This isn't corporate speak; it's a commitment to research that directly translates into new market opportunities and a stronger competitive moat (a sustainable competitive advantage). Their Deep TMS platform, which uses a proprietary H-coil to stimulate deeper and broader brain regions than traditional TMS, is the core technology here.
The proof is in the recent regulatory milestones. In November 2025, the U.S. Food and Drug Administration (FDA) cleared an accelerated Deep TMS protocol for Major Depressive Disorder (MDD). This is huge because it cuts the acute treatment phase from four weeks down to just six days, making the therapy far more accessible and less burdensome for patients. Plus, the National Institutes of Health (NIH) awarded a $2.5 million, five-year grant to study Deep TMS for Alcohol Use Disorder (AUD), showing external validation for their pipeline. That's how you build a durable business-by investing in the science that expands your addressable market.
- Accelerated MDD protocol reduces treatment time to six days.
- NIH grant funds research into Alcohol Use Disorder (AUD) indication.
- Gross margin remains strong at approximately 75% in Q3 2025.
Improving Health and Transforming Lives
The ultimate goal of any medical device company is patient outcome, and BrainsWay's vision is to 'improve health and transform lives.' This is where the financial and operational metrics meet the mission. By the end of Q3 2025, the company's total installed base reached over 1,600 Deep TMS systems globally. This number represents the physical footprint of their mission-more systems mean more patients treated for conditions like MDD, Obsessive-Compulsive Disorder (OCD), and smoking addiction.
Here's the quick math: Q3 2025 saw a net profit of $1.6 million, a massive 137% increase year-over-year. This profitability, alongside an Adjusted EBITDA guidance of 13% to 14% for the full year 2025, shows that their focus on patient-centric growth is financially disciplined. They're not just chasing volume; they're building a profitable, scalable model that can sustain long-term research and development for new indications. You can get a deeper dive into their balance sheet in Breaking Down BrainsWay Ltd. (BWAY) Financial Health: Key Insights for Investors.
Increasing Global Awareness and Broad Access
A great technology is useless if patients can't access it. BrainsWay's third pillar is a commitment to 'increasing global awareness of and broad access to Deep TMS.' This is their commercial execution strategy, and it's why they are actively pursuing strategic minority investments in high-performing mental health providers.
In 2025 alone, the company completed four strategic minority investments in U.S. mental health providers, including an agreement with Tangient ATX (Heading Health) that involved an initial $1.5 million equity investment. The goal is simple: accelerate patient access to Deep TMS therapy by creating alignment with growing clinic networks. This strategy is also reflected in their revenue model, where approximately 70% of recent customer engagements are structured as multi-year lease agreements, giving them a strong recurring revenue stream and a substantial backlog of $65 million in remaining performance obligations. That backlog provides excellent revenue visibility. They are putting capital to work to expand their sales channels and drive utilization, which is a smart, direct path to market share.
- Four strategic minority investments made in 2025.
- Approximately 70% of new deals are multi-year leases.
- Remaining performance obligations total $65 million.
BrainsWay Ltd. (BWAY) Core Values
You're looking for the bedrock of BrainsWay Ltd.'s (BWAY) strategy-the core values that drive their financial performance and market positioning. The direct takeaway is that their values center on rigorous clinical validation, expanding patient reach, and disciplined growth, which is why they raised their full-year 2025 revenue guidance to between $51 million and $52 million.
As a seasoned analyst, I see these values not as platitudes, but as clear operational mandates. They map directly to their investment in R&D and their strategic minority investments in mental health clinics. It's a simple equation: better science leads to more FDA clearances, which drives system adoption and, ultimately, higher revenue.
Superior Science & Clinical Innovation
This value is about leading the field of noninvasive neurostimulation (Deep Transcranial Magnetic Stimulation or Deep TMS) by committing to unparalleled clinical evidence. BrainsWay understands that in a regulated industry, your science is your competitive moat, so they are defintely dedicated to it.
Their commitment shows up in their regulatory milestones and research pipeline for 2025. They secured a key FDA clearance for an accelerated Deep TMS protocol for Major Depressive Disorder (MDD), which is a huge efficiency win for clinics and patients. They also received FDA clearance to use Deep TMS as an adjunct therapy for MDD in adolescents aged 15 to 21 years, dramatically expanding their addressable patient population. This focus on R&D is further backed by the $2.5 million National Institutes of Health (NIH) grant they secured for a study on Deep TMS for Alcohol Use Disorder (AUD).
- Secured FDA clearance for accelerated MDD protocol.
- Expanded indication to adolescents aged 15-21 for MDD.
- Launched Deep TMS 360 trial for Alcohol Use Disorder.
Broad Patient Access & Impact
BrainsWay's ultimate mission is to improve patient lives on a large scale, which translates into a core value of increasing global awareness and broad access to their Deep TMS technology. This isn't just about selling units; it's about integrating into the mental health ecosystem to get the therapy to more people who need it.
The operational data for 2025 confirms this push for access. Their total installed base of Deep TMS systems now stands at more than 1,600 globally as of Q3 2025. They shipped a net total of 90 systems in the third quarter alone, a 43% increase over the same period last year. Plus, their strategic initiative to invest in high-performing mental health clinics is a direct way to accelerate patient access. They completed four new minority equity investments in 2025, including an initial $1.5 million investment in the Heading Health network. That's a clear action to reduce friction for adoption.
Strategic Growth & Shareholder Value
As a public company, generating long-term value for shareholders is paramount, and BrainsWay approaches this through disciplined, profitable growth and strategic capital allocation. They aren't chasing growth at all costs; they're focusing on quality, recurring revenue.
Here's the quick math: the company raised its full-year 2025 Adjusted EBITDA guidance to a range of 13% to 14%, up from the previous 12% to 13%, showing improved profitability. Their business model is built on stability, too, with approximately 70% of recent customer engagements structured as multi-year lease agreements. This has resulted in a strong backlog of $65 million in remaining performance obligations (RPO) as of Q3 2025. Their strategic investment in Neurolief Ltd. for $5 million also shows a forward-looking approach to expanding their product portfolio and market reach, which is key to sustaining long-term value. You can dive deeper into the investor landscape and who is backing this strategy by Exploring BrainsWay Ltd. (BWAY) Investor Profile: Who's Buying and Why?

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