Brainsway (NASDAQ:BWAY) Posts Earnings Results

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

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 Stock Performance

Shares of NASDAQ BWAY opened at $12.71 on Wednesday. Brainsway has a one year low of $3.92 and a one year high of $13.31. The firm has a market capitalization of $498.49 million, a P/E ratio of 84.73 and a beta of 1.20. The company’s fifty day moving average is $11.87 and its two-hundred day moving average is $9.42.

Institutional Trading of Brainsway

Several hedge funds and other institutional investors have recently made changes to their positions in BWAY. Raymond James Financial Inc. purchased a new stake in Brainsway during the second quarter worth about $85,000. Bank of America Corp DE purchased a new position in Brainsway in the third quarter valued at about $107,000. Royal Bank of Canada lifted its position in shares of Brainsway by 1,145.9% during the 4th quarter. Royal Bank of Canada now owns 8,410 shares of the company’s stock valued at $160,000 after acquiring an additional 7,735 shares during the period. Centiva Capital LP acquired a new stake in shares of Brainsway during the 3rd quarter valued at approximately $181,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Brainsway by 61.5% during the 1st quarter. NewEdge Advisors LLC now owns 19,828 shares of the company’s stock worth $188,000 after acquiring an additional 7,549 shares in the last quarter. Institutional investors and hedge funds own 30.11% of the company’s stock.

Analyst Upgrades and Downgrades

BWAY has been the subject of several recent analyst reports. HC Wainwright boosted their target price on Brainsway from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Brainsway in a research report on Monday, December 29th. Northland Securities set a $15.00 target price on shares of Brainsway in a research report on Thursday, January 22nd. Finally, Wall Street Zen raised shares of Brainsway from a “hold” rating to a “buy” rating in a research report on Saturday. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Brainsway presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

Brainsway Company Profile

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.