Recent news highlights Brainsway’s growing U.S. payer support for Deep TMS therapy, expanding insurance coverage for adolescent patients, and positive momentum in the stock despite broader market volatility.

• Brainsway has secured growing U.S. payer support for nurse practitioner-administered Deep TMS therapy, enhancing access to treatment [N2].
• The company expanded insurance coverage for adolescent patients (ages 15-21) with depression as an adjunct therapy, following FDA indication expansion [N2].
• Recent articles highlight Brainsway as a favorable choice for trend investors and note sustained momentum and price strength in the stock [N2, N6, N5].
• Brainsway secured its first coverage policy for accelerated Deep TMS and expanded coverage with Optum for teens, supporting market access and adoption [N2].
• The company’s stock has shown resilience and strength despite a tumultuous broader market environment in March 2026 [N5].

Brainsway’s expanding FDA indications and payer coverage, including recent policies supporting nurse practitioner-administered Deep TMS and adolescent treatment, enhance market access and adoption. The company’s revenue growth and profitability in 2025 reflect increasing demand for noninvasive neurostimulation therapies. Its proprietary technology platform and clinical evidence position it well to pursue additional neurological and addiction indications. Strategic investments in related companies may provide complementary technological advances. Continued expansion in the U.S. market, which represents the majority of revenues, supports business momentum.

Brainsway faces risks including reliance on regulatory approvals and payer reimbursement policies, which can impact market access and revenue. The company’s financial performance depends on successful commercialization of its Deep TMS systems and acceptance by healthcare providers and patients. Competition from other neurostimulation technologies and alternative treatments may affect market share. The company’s accumulated deficit and need for ongoing investment in research and development present financial challenges. Changes in economic conditions, currency fluctuations, and regulatory environments in key markets could adversely affect operations.

Brainsway’s moat is anchored in its proprietary Deep TMS technology platform, which is the first and only FDA-cleared TMS system for three distinct mental health indications supported by pivotal randomized placebo-controlled studies. Its H-Coil design enables stimulation of deep and broad brain regions, differentiating it from competitors. The company benefits from established regulatory clearances, clinical evidence, and intellectual property licenses from research institutions such as Yeda and the U.S. Public Health Service. Its growing installed base and payer coverage, particularly in the U.S., create barriers to entry. Additionally, ongoing clinical development for new indications and investment in related neuromodulation companies support its technological leadership and potential market expansion.

• Regulatory and Reimbursement Risk: The company’s ability to generate revenue depends on maintaining FDA clearances and securing payer reimbursement policies, which can change and affect market access.
• Market Adoption Risk: Acceptance of Deep TMS therapy by healthcare providers, patients, and payers is critical; slower adoption could impact sales and leases.
• Competitive Risk: Competition from other neurostimulation technologies and alternative treatments may limit market share and pricing power.
• Financial Risk: Despite recent profitability, the company has an accumulated deficit and requires continued investment in R&D and commercialization, which may strain resources.
• Operational and Execution Risk: Expansion into new indications and markets involves clinical trials and regulatory approvals, which carry inherent uncertainties and costs.

• Brainsway Ltd. is a global leader in advanced noninvasive neurostimulation treatments for mental health disorders, using proprietary Deep Transcranial Magnetic Stimulation (Deep TMS) technology [S1].
• The company is the first and only TMS company cleared by the FDA for three separate mental health indications: major depressive disorder (MDD), obsessive-compulsive disorder (OCD), and smoking addiction [S1].
• Deep TMS technology uses magnetic pulses to stimulate neurons and modulate brain activity, with proprietary H-Coils designed to stimulate deep and broad brain regions [S1].
• Brainsway's revenues derive primarily from the sale and lease of Deep TMS systems, with sales and leases accounting for 67% and 23% of 2025 revenues respectively [S1].
• In 2025, the company reported revenues of $52.2 million, a 27.3% increase over 2024, and net income of $7.6 million compared to $2.9 million in 2024 [S1].
• The company generated approximately 85% of its revenues in the United States in 2025, focusing sales and marketing efforts there [S1].
• Brainsway has a strong liquidity position as of June 30, 2025, with cash and equivalents of $67.9 million, current assets of $89.0 million, current liabilities of $25.5 million, a current ratio of 3.49, and a cash ratio of 2.7 [S1, sec_financial_snapshot].
• The company has invested in several private companies developing neuromodulation and related technologies, including Neurolief, Stella MSO, Axis Management, and Tangient ATX, with total financial assets at fair value through profit or loss of $14.7 million as of December 31, 2025 [S1].
• Brainsway's shares trade on the Tel Aviv Stock Exchange (TASE) and on Nasdaq under the ticker BWAY, with American Depositary Shares (ADSs) representing ordinary shares at a 1:1 ratio since March 3, 2026 [S1].
• The company has never declared or paid cash dividends and currently intends to reinvest any future earnings to develop and expand its business [S1].
• Brainsway's Deep TMS treatment protocols vary by indication, with typical treatment courses lasting from 3 to 6 weeks and session durations ranging from under 10 minutes to 20 minutes [S1].
• The company is pursuing clinical trials for additional indications including neurological and addiction disorders beyond current FDA-cleared uses [S1].
• Brainsway has received grants from the Israel Innovation Authority and pays royalties on sales of Deep TMS systems under license agreements with Yeda and the U.S. Public Health Service [S1].
• Recent news coverage highlights growing U.S. payer support for nurse practitioner-administered Deep TMS therapy and expanding insurance coverage for adolescent patients [N2, N12].
• Recent articles discuss Brainsway as a choice for trend investors and note momentum and price strength in the stock despite broader market volatility [N2, N6, N5].
• The company secured its first coverage policy for accelerated Deep TMS and expanded coverage with Optum for teens, supporting market access [N12, N13].