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Brainsway ( (BWAY) ) has provided an update.
On May 13, 2026, BrainsWay filed a Form 6-K and released a May 2026 investor deck highlighting its evolution into a fast-growing, recurring-revenue business centered on Deep TMS technology. The company reported that by Q1 2026 it had delivered over 7.5 million treatments, expanded its installed base to roughly 1,820 systems, and was leveraging its hardware footprint, reimbursement wins and new care settings to deepen its presence in the mental health market.
For Q1 2026, BrainsWay posted 35% year-over-year revenue growth to $15.5 million, with net income more than doubling to $2.3 million and adjusted EBITDA rising 117% to $2.8 million, supported by roughly 75% gross margins and 11 consecutive quarters of positive free cash flow. Management reiterated 2026 guidance, citing $75 million in remaining performance obligations, a 1.3x book-to-bill ratio, and expanded payer coverage for its accelerated SWIFT protocol and nurse practitioner–administered TMS as key drivers of future ARR growth and operating leverage.
The investor materials also underscored BrainsWay’s growth roadmap built on new clinical indications, broader care settings and strategic minority stakes in mental health providers. Ongoing clinical programs in alcohol use disorder, Alzheimer’s disease, post-stroke indications and PTSD symptoms in MDD patients aim to expand the addressable market, while the company’s technological differentiation versus traditional TMS is intended to support long-term competitive positioning in neuromodulation.
The most recent analyst rating on (BWAY) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on Brainsway stock, see the BWAY Stock Forecast page.
Spark’s Take on BWAY Stock
According to Spark, TipRanks’ AI Analyst, BWAY is a Outperform.
The score is driven primarily by improved financial performance (profitability turnaround, high gross margins, low leverage) and a strong earnings call with upbeat 2026 guidance and solid Q1 momentum. Technicals add support with a clear uptrend, while valuation is reasonable but lacks dividend yield support and execution risks remain around payer/FDA timing and higher investment-driven operating costs.
To see Spark’s full report on BWAY stock, click here.
More about Brainsway
BrainsWay Ltd. is a medical technology company specializing in transcranial magnetic stimulation (TMS) for neuropsychiatric and addiction disorders. Its Deep TMS systems are installed in more than 1,800 treatment centers worldwide and are FDA-cleared for major depressive disorder, anxious depression, obsessive-compulsive disorder and smoking addiction, focusing on reimbursed, clinic-based mental health care.
Average Trading Volume: 167,131
Technical Sentiment Signal: Buy
Current Market Cap: $674.6M
For an in-depth examination of BWAY stock, go to TipRanks’ Overview page.