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Brainsway ( (BWAY) ) has provided an announcement.
BrainsWay reported that by year-end 2025 it had fully transitioned to a high-margin, recurring-revenue model anchored in multi-year Deep TMS system leases, delivering 2025 revenue of $52.2 million, up 27% year over year, with gross margin at 76%, adjusted EBITDA of $7 million, and net income of $7.6 million. The company shipped 354 systems in 2025, lifting its installed base above 1,700 sites, generated $18.4 million in recurring revenue, ended December 31, 2025 with approximately $68 million in cash and no debt, and issued 2026 revenue guidance of $66 million to $68 million and adjusted EBITDA guidance of $12 million to $14 million.
Recent operational momentum has been bolstered by a series of 2025 regulatory and market access wins, including U.S. FDA clearance for an accelerated Deep TMS protocol for major depressive disorder, clearance as an adjunct therapy for adolescents with MDD, initial insurer coverage for the accelerated SWIFT protocol, and the removal of prior authorization requirements for TMS by Cigna’s Evernorth Behavioral Health. In parallel, BrainsWay is pursuing a growth roadmap built on expanding indications and care settings, increasing ARR and operating leverage, and executing a strategic equity partnership program with Valor Equity Partners that targets minority stakes in U.S. mental health provider networks, a strategy designed to add clinics, deepen utilization of its systems, and scale recurring revenue without materially increasing operating expenses.
The most recent analyst rating on (BWAY) stock is a Buy with a $15.50 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 inflection, high gross margins, strong cash generation, and low leverage) and supportive technical strength (price above key moving averages with positive momentum). Earnings call tone and raised guidance add confidence, while valuation (P/E ~23.6 and no dividend yield provided) is the main moderating factor.
To see Spark’s full report on BWAY stock, click here.
More about Brainsway
BrainsWay Ltd. is an Israel-based medical technology company specializing in Deep Transcranial Magnetic Stimulation (Deep TMS) systems for neuropsychiatric disorders. Its FDA-cleared indications include major depressive disorder, obsessive-compulsive disorder, smoking addiction, and anxious depression, with an installed base exceeding 1,700 treatment centers and more than seven million individual treatments delivered worldwide.
The company operates an annuity-style leasing model that emphasizes recurring revenue from multi-year contracts with mental health clinics and other care providers. BrainsWay is dual-listed on Nasdaq and the Tel Aviv Stock Exchange under the ticker BWAY, and targets the growing global market for noninvasive, device-based mental health therapies, supported by established reimbursement pathways in the U.S. and other key markets.
Average Trading Volume: 209,102
Technical Sentiment Signal: Buy
Current Market Cap: $543.5M
Find detailed analytics on BWAY stock on TipRanks’ Stock Analysis page.