BrainsWay Reports Fourth Quarter and Full Year 2025 Financial Results and Operational Highlights

Core Insights - BrainsWay Ltd. reported a 27% year-over-year revenue growth in Q4 2025, reaching a record $14.5 million, with a significant increase in operating income and adjusted EBITDA [1][5][8] - The company anticipates continued growth in 2026, projecting revenue between $66 million and $68 million, representing a growth rate of 27% to 30% [1][12] Financial Performance Highlights - Q4 2025 operating income was $1.9 million, compared to $0.4 million in Q4 2024, while adjusted EBITDA increased by 53% to $2.3 million [1][5] - Full year 2025 revenue was $52.2 million, a 27% increase from 2024, with net income rising by 161% to $7.6 million [1][5][8] - Remaining performance obligations increased by 43% to approximately $70 million, indicating strong future revenue potential [1][5] Operational Developments - The company shipped 95 Deep TMS™ systems in Q4 2025, a 27% increase from the previous year, bringing the total installed base to approximately 1,700 systems [5] - The FDA granted label expansion for the Deep TMS™ system, allowing its use as an adjunct therapy for adolescents aged 15 to 21 with major depressive disorder [5][8] - BrainsWay launched a multicenter clinical trial for the new Deep TMS 360™ system targeting individuals with Alcohol Use Disorder, addressing a significant health issue affecting around 29 million Americans [5][8] Strategic Outlook - The CEO highlighted strong demand for Deep TMS, supported by expanding customer adoption and regulatory clearances, as key growth catalysts for 2026 [8] - The company is focusing on a targeted investment strategy to support clinical expansion and increase awareness of innovative therapies within mental health networks [8]