Core Insights - BrainsWay Ltd. (BWAY) has made a strategic investment of $5 million in Neurolief Ltd., aiming to expand its presence in the mental health market, particularly in at-home treatment solutions [1][9][10] - Neurolief is developing Proliv Rx, a therapy targeting Major Depressive Disorder (MDD), which is a significant area of unmet medical need [2][11] - Following the investment announcement, BWAY's stock increased by 1.5%, and the company has seen a year-to-date stock surge of 59%, outperforming the industry and S&P 500 [3][5] Company Strategy - The investment allows BrainsWay to enter the at-home mental health treatment market, thereby expanding its total addressable market (TAM) beyond its existing Deep TMS platform [4][12] - By utilizing Neurolief's wearable neuromodulation technology, BrainsWay can diversify its revenue streams and enhance its competitive positioning in the treatment of depression [4][13] Financial Projections - BWAY currently has a market capitalization of $279.2 million and is projecting an earnings growth of 88.9% for the current year [5] - The investment includes future milestone-based funding, with potential additional investments contingent on FDA approval and revenue milestones for Neurolief [10] Industry Outlook - The global neuromodulation devices market is projected to grow from $5.80 billion in 2024 to $10.39 billion by 2030, with a compound annual growth rate (CAGR) of 8.51% from 2025 to 2030 [14] - The increasing prevalence of chronic pain, neurological disorders, and mental health conditions is expected to drive demand for innovative treatment solutions [14]

Core Insights - BrainsWay has made a strategic investment of $5 million in Neurolief, which is developing the Proliv™Rx device pending FDA approval for treating Major Depressive Disorder (MDD) outside of clinical settings [1][2][4] - Neurolief's technology aims to address the significant gap in accessible therapies for treatment-resistant MDD patients, who often face prolonged suffering and higher healthcare costs [3][4] - The partnership is expected to enhance both companies' market presence and expand access to innovative mental health treatments [2][4] Company Overview - BrainsWay is a leader in non-invasive neurostimulation treatments for mental health disorders, with its Deep TMS™ platform technology having three FDA-cleared indications [6][7] - Neurolief is a pioneering company focused on developing wearable, non-invasive neuromodulation systems for mental health and neurological disorders, with its Relivion®MG therapy already approved for migraine treatment [8] Financial Aspects - The investment agreement includes potential milestone-based funding, with a second tranche of up to $6 million contingent on FDA approval of Neurolief's Proliv™Rx system, and a third tranche of up to $5 million based on revenue milestones [4] - The strategic investment is seen as a validation of Neurolief's technology and vision, aiming to reshape the treatment landscape for depression [4]

The Investment is part of BrainsWay’s ongoing strategy to acquire minority positions in leading U.S. mental health providers to help them raise awareness for and expand access to transformative careBURLINGTON, Mass. and JERUSALEM, Aug. 20, 2025 (GLOBE NEWSWIRE) -- BrainsWay Ltd. (NASDAQ & TASE: BWAY) (“BrainsWay” or the “Company”), a global leader in advanced noninvasive neurostimulation treatments for mental health disorders, today announced that it has entered into a strategic equity financing agreement w ...

Company Overview - Biotricity Inc. (BTCY) is part of the Medical sector, which includes 976 individual stocks and currently holds a Zacks Sector Rank of 6, indicating its relative strength among sector groups [2] - Biotricity Inc. has a Zacks Rank of 2 (Buy), suggesting a favorable outlook based on earnings estimate revisions and improving earnings outlooks [3] Performance Metrics - Over the past three months, the Zacks Consensus Estimate for BTCY's full-year earnings has increased by 17.9%, reflecting improved analyst sentiment and a stronger earnings outlook [4] - Year-to-date, BTCY has gained approximately 115.6%, significantly outperforming the average loss of 3.3% in the Medical group [4] Industry Comparison - Biotricity Inc. belongs to the Medical Info Systems industry, which consists of 44 companies and currently ranks 51 in the Zacks Industry Rank. This industry has seen a year-to-date gain of about 23.6%, indicating BTCY's strong performance relative to its peers [6] - In contrast, another stock in the Medical sector, Brainsway Ltd. Sponsored ADR (BWAY), has a year-to-date return of 57.5% and belongs to the Medical - Products industry, which ranks 96 and has gained 5.5% year to date [5][6] Investment Consideration - Investors interested in the Medical sector may want to monitor Biotricity Inc. and Brainsway Ltd. Sponsored ADR for their continued strong performance [7]

Core Viewpoint - Brainsway Ltd. Sponsored ADR (BWAY) is positioned as a strong investment opportunity due to significant upward revisions in earnings estimates, indicating a positive earnings outlook and potential for continued stock price appreciation [1][2]. Earnings Estimate Revisions - Analysts have shown increasing optimism regarding Brainsway's earnings prospects, leading to higher earnings estimates that are expected to positively influence the stock price [2]. - For the current quarter, Brainsway is projected to earn $0.09 per share, reflecting a substantial increase of +125.0% compared to the same quarter last year [6]. - The Zacks Consensus Estimate for the current quarter has risen by 27.27% over the past 30 days, with two estimates moving higher and no negative revisions [6]. - For the full year, the expected earnings per share is $0.34, which represents a year-over-year increase of +88.9% [7]. Zacks Rank and Performance - Brainsway currently holds a Zacks Rank 2 (Buy), indicating strong agreement among analysts regarding the positive revisions in earnings estimates [9]. - The Zacks Rank system has a proven track record, with Zacks 1 Ranked stocks averaging an annual return of +25% since 2008, suggesting that stocks with favorable rankings tend to outperform the S&P 500 [3][9]. Stock Performance - Over the past four weeks, Brainsway shares have increased by 7.4%, indicating investor confidence in the company's earnings growth potential driven by the positive estimate revisions [10].

Group 1 - Brainsway Ltd. Sponsored ADR (BWAY) shares have increased by 7.4% over the past four weeks, closing at $12.98, with a mean price target of $16.3 indicating a potential upside of 25.6% [1] - The mean estimate consists of four short-term price targets with a standard deviation of $2.15, where the lowest estimate is $14.20 (9.4% increase) and the highest is $19.00 (46.4% increase) [2] - Analysts show strong agreement in revising earnings estimates higher, with the Zacks Consensus Estimate for the current year increasing by 11.5% over the last 30 days [11][12] Group 2 - BWAY holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [13] - While the consensus price target may not be a reliable indicator of the stock's potential gain, it does provide a directional guide for price movement [14]

Financial Data and Key Metrics Changes - The company reported record quarterly revenue of $12,600,000 for Q2 2025, representing a 26% increase compared to $10,000,000 in the same period last year [4][12] - Gross profit for the quarter was $9,500,000, up from $7,500,000 in the prior year, maintaining a strong gross margin of 75% [12][13] - Net profit for the quarter was $2,000,000 compared to $600,000 in the same period of 2024 [14] - Remaining performance obligation grew to $62,000,000, a 25% year-over-year increase, providing strong visibility into future revenue [16] Business Line Data and Key Metrics Changes - The company shipped a total of 88 Deep TMS systems during the quarter, representing a 35% increase compared to the same period last year [4][5] - The total installed base reached 1,522 systems as of June 30, 2025, compared to 1,215 systems a year ago [12] Market Data and Key Metrics Changes - The company has focused on generating recurring revenue streams through multiyear lease agreements, which now account for approximately 70% of recent customer engagements [5] - The backlog of signed agreements with remaining performance obligations totaled approximately $62,000,000, indicating strong future revenue visibility [5][16] Company Strategy and Development Direction - The company aims to elevate market awareness of Deep TMS, advance its R&D roadmap, and broaden patient access through global expansion and health system integration [6] - A new initiative to generate shareholder value through minority interest investments in mental health providers was identified, with a strategic equity investment of $20,000,000 from Valo Equity Partner [10][11] - The company plans to sign at least five contracts for strategic financing arrangements by the end of the year, with a goal of 10 contracts by 2026 [37] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the accelerated treatment protocol for Deep TMS, expecting FDA clearance by Q4 2025, which could significantly enhance patient convenience [20][21] - The company raised its full-year 2025 revenue guidance to a range of $50,000,000 to $52,000,000, representing 22% to 27% growth over 2024 revenue [17] Other Important Information - The company has engaged in educational initiatives to enhance clinician knowledge and confidence in Deep TMS, including funding new continuing medical education courses [7][8] - Cash position at the end of the quarter was $78,300,000, up $30,200,000 from the same point last year, reflecting strong collections and strategic investments [14][15] Q&A Session Summary Question: Can you discuss the accelerated protocol and its market potential? - Management expects to receive FDA feedback on the accelerated protocol by Q4 2025, which could reduce treatment time significantly, making it more appealing to patients [20][21] Question: What is the size of the commercial organization and its growth? - The current sales team consists of 16 direct sales personnel and 10 practice development staff, totaling 26 individuals supporting sales activities [25] Question: What is the status of the TMS 360 and pilot studies? - The TMS 360 is planned for launch with an alcohol use disorder trial in Q3 2025, alongside feasibility studies for other indications [27] Question: What is the composition of the backlog and OCD placements? - The majority of the backlog comes from enterprise customers, with 30 OCD systems shipped in the second quarter [32] Question: How many strategic financing arrangements are planned for this year? - The company aims to sign at least five new contracts for strategic investments by the end of the year, with potential investments ranging from $2,000,000 to $5,000,000 [36][37] Question: How has the Stella financing arrangement been performing? - The collaboration with Stella MSO has resulted in over a 50% increase in TMS patient utilization, demonstrating the effectiveness of the partnership [38]

[Q2 2025 Earnings Release Overview](index=1&type=section&id=Q2%202025%20Earnings%20Release%20Overview) [Key Financial Highlights](index=1&type=section&id=Key%20Financial%20Highlights) BrainsWay achieved record quarterly revenue of $12.6 million in Q2 2025, an increase of 26% compared to Q2 2024, alongside positive operating profit and increased Adjusted EBITDA Key Financial Highlights (Millions) | Metric | Q2 2025 (Millions) | | :---------------- | :----------------- | | Revenue | $12.6 | | Operating Profit | $0.6 | | Adjusted EBITDA | $1.5 | - Achieved record quarterly revenue of **$12.6 million** in Q2 2025, an increase of **26%** compared to Q2 2024[1](index=1&type=chunk) [Key Operational Highlights](index=1&type=section&id=Key%20Operational%20Highlights) The company reported a significant year-over-year increase in remaining performance obligations, indicating strong future revenue streams from multi-year agreements - Remaining performance obligations increased by **25%** year-over-year to **$62 million**[1](index=1&type=chunk) [Updated Full-Year 2025 Guidance](index=1&type=section&id=Updated%20Full-Year%202025%20Guidance) BrainsWay raised its full-year 2025 revenue and EBITDA guidance, reflecting improved visibility and business momentum - Raised full-year 2025 Revenue and EBITDA guidance[1](index=1&type=chunk) [Recent Financial and Operational Highlights](index=1&type=section&id=Recent%20Financial%20and%20Operational%20Highlights) [Q2 2025 Financial Performance](index=1&type=section&id=Q2%202025%20Financial%20Performance) BrainsWay reported strong Q2 2025 financial results, with significant year-over-year growth in revenue, net profit, and Adjusted EBITDA, while maintaining a high gross margin Q2 2025 Financial Performance (Millions) | Metric | Q2 2025 | Q2 2024 | YoY Change | | :------------------------------------------------------- | :------ | :------ | :--------- | | Revenue | $12.6M | $10.0M | +26% | | Gross Margin | 75% | 75% | 0% | | Operating Income | $0.6M | $0.6M | 0% | | Adjusted EBITDA | $1.5M | $1.3M | +16% | | Net Profit | $2.0M | $0.6M | +233% | | Cash, Cash Equivalents, Restricted Cash, and Short-term Deposits (as of June 30, 2025) | $78.3M | N/A | N/A | [Q2 2025 Operational Achievements](index=1&type=section&id=Q2%202025%20Operational%20Achievements) The company significantly increased its Deep TMS system shipments and expanded its installed base, with a majority of new customer engagements structured as multi-year lease agreements - Shipped a net total of **88 Deep TMS™ systems** in the second quarter of 2025, a **35% increase** compared to the same period last year, bringing the total installed base to **1,522 systems**[6](index=6&type=chunk) - Approximately **70%** of recent customer engagements are structured as multi-year lease agreements, contributing to **$62 million** in remaining performance obligations[6](index=6&type=chunk) [Strategic Initiatives and Business Momentum](index=1&type=section&id=Strategic%20Initiatives%20and%20Business%20Momentum) BrainsWay is actively pursuing strategic minority equity investments in high-performing mental health providers and made progress with regulatory submissions and clinical programs - Entered an equity financing transaction with Stella MSO, LLC, a management services organization servicing over **20 mental health clinics**[6](index=6&type=chunk) - Actively seeking to ramp up strategic initiative with additional minority equity investments in high-performing mental health providers, partnering with Valor Equity Partners[6](index=6&type=chunk) - Submitted data to the FDA from its randomized, multicenter U.S. clinical trial evaluating an accelerated Deep TMS treatment protocol[6](index=6&type=chunk) - Continued progress with Israel Ministry of Defense's Rehabilitation Department in qualifying patients with post-traumatic stress disorder (PTSD) for Deep TMS[6](index=6&type=chunk) [Full-Year 2025 Financial Guidance](index=1&type=section&id=Full-Year%202025%20Financial%20Guidance) BrainsWay raised its full-year 2025 financial guidance, projecting higher revenue, operating income, and Adjusted EBITDA, driven by strong Q2 results and improved business momentum Full-Year 2025 Financial Guidance | Metric | New Guidance (2025) | Previous Guidance (2025) | | :---------------- | :---------------------- | :----------------------- | | Revenue | $50M - $52M | $49M - $51M | | Operating Income | 4% - 5% | 3% - 4% | | Adjusted EBITDA | 12% - 13% | 11% - 12% | [Management Commentary](index=1&type=section&id=Management%20Commentary) [Q2 Performance and Growth Strategy](index=1&type=section&id=Q2%20Performance%20and%20Growth%20Strategy) CEO Hadar Levy highlighted strong Q2 results, attributing success to momentum in the core market, successful execution of the growth strategy, and stable recurring revenue streams from multi-year agreements - BrainsWay's second quarter results were strong, demonstrating momentum across the core market and successful execution of the growth strategy[4](index=4&type=chunk) - The stable growth reflects recurring revenue streams built over the past few years through multi-year agreements, which now make up approximately **70%** of the new installed base[4](index=4&type=chunk) - Achieved an extensive order of systems with a multi-phased delivery plan through the end of the year by a fast-growing U.S. mental health network[4](index=4&type=chunk) [Strategic Equity Investments](index=1&type=section&id=Strategic%20Equity%20Investments) Mr. Levy emphasized the strategic initiative to secure minority equity investments in high-performing mental health providers, aiming to significantly increase patient awareness of Deep TMS technology - Successes have given rise to exciting new opportunities, including a strategic initiative aimed at securing minority equity investments in high-performing mental health providers[5](index=5&type=chunk) - This program has already led to several opportunities being explored and is expected to significantly increase awareness among patients of the benefits of transformative care, including Deep TMS technology[5](index=5&type=chunk) [Conference Call and Webcast](index=1&type=section&id=Conference%20Call%20and%20Webcast) BrainsWay's management hosted a conference call on August 13, 2025, to discuss the Q2 results, with details provided for accessing the call via phone and webcast - BrainsWay's management hosted a conference call on **Wednesday, August 13, 2025, at 8:30 a.m. Eastern Time** to discuss results and answer questions[6](index=6&type=chunk) - Dial-in numbers were provided for the United States, International, and Israel, along with a Conference ID[7](index=7&type=chunk) - The conference call was broadcast live and made available for replay for **30 days** on the Company's investor relations website[7](index=7&type=chunk) [Non-IFRS Financial Measures](index=2&type=section&id=Non-IFRS%20Financial%20Measures) [Definition and Purpose of Adjusted EBITDA](index=2&type=section&id=Definition%20and%20Purpose%20of%20Adjusted%20EBITDA) Adjusted EBITDA is presented as a non-IFRS measure to evaluate operating performance, defined as net profit adjusted for specific non-operating and non-cash items, providing a clearer view of operational efficiency and comparability - Adjusted EBITDA is a non-IFRS measure defined as net profit adjusted for depreciation and amortization, finance income, finance expenses, income taxes, cost of share-based payments, and one-time restructuring and litigation expenses[8](index=8&type=chunk) - It is used by management and investors for period-to-period comparisons, understanding operating results, and assessing operational efficiency, as it excludes items that can vary substantially between companies[9](index=9&type=chunk)[13](index=13&type=chunk) - Adjusted EBITDA should not be considered an alternative to operating profit or net profit under IFRS and may not be comparable to similarly titled measures from other companies[9](index=9&type=chunk)[10](index=10&type=chunk) [About BrainsWay](index=2&type=section&id=About%20BrainsWay) BrainsWay is a global leader in advanced noninvasive neurostimulation treatments for mental health disorders, utilizing its proprietary Deep TMS™ technology with three FDA-cleared indications, and is committed to advancing neuroscience through clinical evidence and global access - BrainsWay is a global leader in advanced noninvasive neurostimulation treatments for mental health disorders, utilizing its proprietary Deep Transcranial Magnetic Stimulation (Deep TMS™) platform technology[11](index=11&type=chunk) - The company is the first and only TMS company to obtain **three FDA-cleared indications** backed by pivotal clinical studies: major depressive disorder (including anxious depression), obsessive-compulsive disorder, and smoking addiction[11](index=11&type=chunk) - BrainsWay is dedicated to leading through superior science, building on its clinical evidence, and conducting additional clinical trials for Deep TMS in various psychiatric, neurological, and addiction disorders[11](index=11&type=chunk) [Forward-Looking Statement](index=2&type=section&id=Forward-Looking%20Statement) This section contains standard forward-looking statements, which are subject to various factors and uncertainties that could cause actual results to differ materially from projections, and the company undertakes no obligation to update them - This press release contains "forward-looking statements" under the Private Securities Litigation Reform Act of 1995, including financial guidance and projections[12](index=12&type=chunk) - These statements are based on current management expectations and are subject to numerous factors and uncertainties that could cause actual results to differ materially from those described[12](index=12&type=chunk) - The company undertakes no obligation to publicly update or review any forward-looking statement, except as may be required by applicable securities laws[15](index=15&type=chunk) [Contacts](index=3&type=section&id=Contacts) Contact information for BrainsWay's Chief Financial Officer and Investor Relations is provided for inquiries - BrainsWay Contact: Ido Marom, Chief Financial Officer (Ido.Marom@BrainsWay.com)[16](index=16&type=chunk) - Investors Contact: Brian Ritchie, LifeSci Advisors LLC (britchie@lifesciadvisors.com)[16](index=16&type=chunk) [Consolidated Financial Statements](index=4&type=section&id=Consolidated%20Financial%20Statements) [Consolidated Statements of Financial Position (Balance Sheet)](index=4&type=section&id=Consolidated%20Statements%20of%20Financial%20Position) The balance sheet shows an increase in total assets to $111.56 million as of June 30, 2025, primarily driven by an increase in current assets and investments in financial assets, with a corresponding increase in deferred revenues and equity Consolidated Statements of Financial Position (U.S. dollars in thousands) | Metric (U.S. dollars in thousands) | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | Change | | :--------------------------------- | :------------------------ | :-------------------------- | :----- | | **ASSETS** | | | | | Current Assets | $89,490 | $79,670 | +$9,820 | | Non-Current Assets | $22,074 | $14,646 | +$7,428 | | **Total Assets** | **$111,564** | **$94,316** | **+$17,248** | | **LIABILITIES AND EQUITY** | | | | | Current Liabilities | $25,508 | $15,346 | +$10,162 | | Non-Current Liabilities | $17,924 | $16,657 | +$1,267 | | Equity | $68,132 | $62,313 | +$5,819 | | **Total Liabilities and Equity** | **$111,564** | **$94,316** | **+$17,248** | [Consolidated Statements of Comprehensive Profit (Loss) (Income Statement)](index=5&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Profit%20(Loss)) For Q2 2025, BrainsWay reported significant revenue growth and a substantial increase in net profit compared to the prior year, primarily driven by higher finance income Consolidated Statements of Comprehensive Profit (Loss) (U.S. dollars in thousands) | Metric (U.S. dollars in thousands) | Q2 2025 (Unaudited) | Q2 2024 (Unaudited) | YoY Change | H1 2025 (Unaudited) | H1 2024 (Unaudited) | YoY Change | | :--------------------------------- | :------------------ | :------------------ | :--------- | :------------------ | :------------------ | :--------- | | Revenues | $12,632 | $10,005 | +26.3% | $24,168 | $19,100 | +26.5% | | Gross profit | $9,499 | $7,537 | +26.0% | $18,109 | $14,349 | +26.2% | | Operating profit | $578 | $586 | -1.4% | $1,154 | $679 | +69.9% | | Finance income | $2,303 | $518 | +344.6% | $3,414 | $1,115 | +206.2% | | Finance Expense | $784 | $401 | +95.5% | $1,207 | $808 | +49.4% | | Net profit and total comprehensive profit | $2,027 | $600 | +237.8% | $3,134 | $711 | +340.8% | | Basic net income per share | $0.05 | $0.02 | +150.0% | $0.08 | $0.02 | +300.0% | | Diluted net income per share | $0.05 | $0.02 | +150.0% | $0.07 | $0.02 | +250.0% | [Consolidated Statements of Cash Flows](index=6&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) In Q2 2025, net cash provided by operating activities significantly increased, while investing activities resulted in a net cash outflow due to purchases of financial assets and short-term deposits Consolidated Statements of Cash Flows (U.S. dollars in thousands) | Metric (U.S. dollars in thousands) | Q2 2025 (Unaudited) | Q2 2024 (Unaudited) | H1 2025 (Unaudited) | H1 2024 (Unaudited) | | :--------------------------------- | :------------------ | :------------------ | :------------------ | :------------------ | | Net cash provided by operating activities | $12,383 | $1,348 | $17,393 | $4,526 | | Net cash provided by (used in) investing activities | $(15,859) | $34,198 | $(17,825) | $33,488 | | Net cash used in financing activities | $(264) | $(35) | $(1,019) | $(624) | | Increase (decrease) in cash and cash equivalents | $(3,689) | $35,482 | $(1,433) | $37,344 | | Cash and cash equivalents at the end of the period | $67,912 | $47,864 | $67,912 | $47,864 | [Reconciliation of Adjusted EBITDA to Net Profit](index=8&type=section&id=Reconciliation%20of%20Adjusted%20EBITDA%20to%20Net%20Profit) The reconciliation shows that Adjusted EBITDA for Q2 2025 was $1.45 million, an increase from $1.25 million in Q2 2024, after adjusting net profit for non-cash and non-operating items Reconciliation of Adjusted EBITDA to Net Profit (U.S. dollars in thousands) | Metric (U.S. dollars in thousands) | Q2 2025 (Unaudited) | Q2 2024 (Unaudited) | H1 2025 (Unaudited) | H1 2024 (Unaudited) | | :--------------------------------- | :------------------ | :------------------ | :------------------ | :------------------ | | Net profit and total comprehensive profit | $2,027 | $600 | $3,134 | $711 | | Finance income, net | $(1,519) | $(117) | $(2,207) | $(307) | | Income taxes | $70 | $103 | $227 | $275 | | Depreciation and amortization | $180 | $58 | $371 | $120 | | Depreciation of leased systems | $208 | $240 | $411 | $495 | | Cost of share based payment | $227 | $364 | $552 | $669 | | Restructuring and litigation Cost | $258 | $0 | $258 | $0 | | **Adjusted EBITDA** | **$1,451** | **$1,248** | **$2,746** | **$1,963** |

Core Insights - BrainsWay Ltd. reported record quarterly revenue of $12.6 million in Q2 2025, marking a 26% increase compared to Q2 2024 [1] - The company raised its full-year 2025 revenue guidance to between $50 million and $52 million, up from the previous range of $49 million to $51 million [4] - Remaining performance obligations increased by 25% year-over-year to $62 million, indicating strong future revenue visibility [1][4] Financial Performance - Operating profit for Q2 2025 totaled $0.6 million, consistent with the prior year [5] - Adjusted EBITDA rose 16% to $1.5 million in Q2 2025, compared to $1.3 million in Q2 2024 [5] - Net profit surged 233% to $2.0 million in Q2 2025, up from $0.6 million in Q2 2024 [5] Operational Highlights - The company shipped a net total of 88 Deep TMS™ systems in Q2 2025, a 35% increase from the same period last year, bringing the total installed base to 1,522 systems [5] - Approximately 70% of recent customer engagements are structured as multi-year lease agreements, contributing to stable revenue streams [5] - The company is actively pursuing minority equity investments in high-performing mental health providers to enhance its strategic initiatives [7] Guidance and Future Outlook - The company expects operating income for full-year 2025 to be between 4% and 5%, with Adjusted EBITDA projected at 12% to 13% [4] - BrainsWay's management expressed confidence in the momentum across its core market and the successful execution of its growth strategy [4][6]

About BrainsWay BrainsWay is a global leader in advanced noninvasive neurostimulation treatments for mental health disorders. The Company is boldly advancing neuroscience with its proprietary Deep Transcranial Magnetic Stimulation (Deep TMS™) platform technology to improve health and transform lives. BrainsWay is the first and only TMS company to obtain three FDA-cleared indications backed by pivotal clinical studies demonstrating clinically proven efficacy. Current indications include major depressive diso ...