Brainsway (NASDAQ:BWAY) Announces Earnings Results

Brainsway (NASDAQ:BWAY) released its quarterly earnings data on Wednesday. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.03, FiscalAI reports. The firm had revenue of $14.55 million for the quarter, compared to the consensus estimate of $14.02 million. Brainsway had a net margin of 12.73% and a return on equity of 9.46%.

Here are the key takeaways from Brainsway’s conference call:

• BrainsWay reported strong results with Q4 revenue of $14.5M and full-year 2025 revenue of $52.2M (both up 27% YoY), its 10th consecutive profitable quarter, $68M in cash, and 2026 guidance of $66–68M revenue and $12–14M adjusted EBITDA.
• The company shipped 95 Deep TMS systems in Q4, has an installed base of ~1,700 systems, a book-to-bill of 1.4x, and a remaining performance obligation of $70M (up 43% YoY), driven by enterprise customers on long-term leasing that bolster recurring revenue and margin expansion.
• Regulatory and reimbursement progress includes an FDA label expansion for adolescents (ages 15–21) with MDD and clearance for an accelerated Deep TMS protocol, with several payers (Premera, Highmark draft policy, Evernorth/Cigna) beginning to offer coverage or reduce prior-authorizations.
• Pipeline and strategic initiatives include a $2.5M NIH-funded Stanford trial for alcohol use disorder using the new Deep TMS 360 (10 centers, ~200+ patients), a planned FDA submission for PTSD/comorbid depression, a strategic investment in Neurolief (ProlivRx PMA for at‑home neuromodulation) and minority equity investments in provider networks — all are growth levers but remain early-stage.

Brainsway Price Performance

Shares of NASDAQ:BWAY opened at $12.88 on Wednesday. Brainsway has a 1 year low of $3.92 and a 1 year high of $13.31. The company has a market capitalization of $505.11 million, a PE ratio of 85.86 and a beta of 1.20. The business has a fifty day moving average price of $11.87 and a two-hundred day moving average price of $9.42.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BWAY shares. Wall Street Zen upgraded Brainsway from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brainsway in a research report on Monday, December 29th. HC Wainwright increased their price target on Brainsway from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Finally, Northland Securities set a $15.00 price objective on Brainsway in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Institutional Trading of Brainsway

A number of large investors have recently added to or reduced their stakes in BWAY. ARK Investment Management LLC bought a new stake in shares of Brainsway in the fourth quarter valued at $2,422,000. UBS Group AG increased its stake in shares of Brainsway by 2,028.6% in the third quarter. UBS Group AG now owns 63,878 shares of the company’s stock worth $963,000 after purchasing an additional 60,877 shares in the last quarter. Two Sigma Investments LP lifted its stake in shares of Brainsway by 25.2% during the 3rd quarter. Two Sigma Investments LP now owns 102,902 shares of the company’s stock valued at $1,551,000 after buying an additional 20,706 shares in the last quarter. Millennium Management LLC boosted its holdings in Brainsway by 69.6% in the 3rd quarter. Millennium Management LLC now owns 39,841 shares of the company’s stock worth $600,000 after buying an additional 16,354 shares during the period. Finally, Trexquant Investment LP purchased a new position in Brainsway in the 4th quarter valued at approximately $245,000. Hedge funds and other institutional investors own 30.11% of the company’s stock.

About Brainsway

Brainsway Ltd is a medical device company specializing in non-invasive neuromodulation therapies. Publicly traded on the NASDAQ under the symbol BWAY, the company develops and commercializes deep transcranial magnetic stimulation (Deep TMS) systems designed to treat a range of neuropsychiatric and neurological disorders. Brainsway’s technology aims to offer an alternative or complement to traditional pharmacological therapies by targeting precise brain regions with its patented coil designs.

The company’s flagship Deep TMS platform utilizes proprietary H-coil arrays engineered to reach deeper cortical structures than conventional TMS devices.