Brainsway (NASDAQ:BWAY) Announces Earnings Results

Brainsway (NASDAQ:BWAY) posted its quarterly earnings results on Wednesday. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07, Zacks reports. The company had revenue of $15.53 million for the quarter, compared to the consensus estimate of $14.63 million. Brainsway had a return on equity of 12.51% and a net margin of 15.68%.

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

• BrainsWay delivered strong Q1 2026 results, with revenue up 35% year over year to $15.5 million, net income more than doubling to $2.3 million, and adjusted EBITDA rising 119% to $2.8 million.
• The company reported its 11th consecutive quarter of profitability, supported by expanding margins, disciplined cost control, and a recurring revenue model that continues to gain traction.
• Demand indicators improved, including 117 Deep TMS systems shipped in the quarter, a total install base of about 1,820 systems, and remaining performance obligations rising to $75 million, with most new contracts being multi-year agreements.
• Management highlighted reimbursement and adoption progress for both Deep TMS and the SWIFT protocol, including expanded payer coverage, growing interest from providers, and expectations for $40 million-$50 million of SWIFT-covered lives by year-end.
• The company remains focused on pipeline and strategic expansion, including an upcoming FDA filing for PTSD symptoms in MDD, ongoing alcohol use disorder trials, and additional minority investments in mental health networks and Neurolief’s ProlivRx platform.

Brainsway Stock Down 7.9%

Brainsway stock traded down $1.29 during mid-day trading on Friday, hitting $15.03. 260,654 shares of the company’s stock were exchanged, compared to its average volume of 191,946. The firm has a market capitalization of $601.80 million, a P/E ratio of 42.94 and a beta of 1.23. Brainsway has a fifty-two week low of $4.94 and a fifty-two week high of $17.35. The company’s 50 day simple moving average is $14.52 and its 200-day simple moving average is $11.62.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Weiss Ratings raised Brainsway from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. HC Wainwright cut their price target on Brainsway from $30.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th. Wall Street Zen raised Brainsway from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Northland Securities set a $15.00 price target on Brainsway in a research note on Thursday, January 22nd. Finally, Zacks Research downgraded Brainsway from a “strong-buy” rating to a “hold” rating in a research note on Monday. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Brainsway presently has an average rating of “Moderate Buy” and an average target price of $15.00.

Institutional Trading of Brainsway

Hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in Brainsway during the 2nd quarter worth $85,000. Bank of America Corp DE acquired a new stake in Brainsway during the 3rd quarter worth $107,000. Royal Bank of Canada raised its stake in Brainsway by 1,145.9% during the 4th quarter. Royal Bank of Canada now owns 8,410 shares of the company’s stock worth $160,000 after buying an additional 7,735 shares during the period. Centiva Capital LP acquired a new stake in Brainsway during the 3rd quarter worth $181,000. Finally, Trexquant Investment LP acquired a new stake in Brainsway during the 4th quarter worth $245,000. Institutional investors and hedge funds own 30.11% of the company’s stock.

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.