Brainsway (NASDAQ:BWAY) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

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

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

NASDAQ:BWAY opened at $12.71 on Wednesday. The firm has a market cap of $498.49 million, a PE ratio of 84.73 and a beta of 1.20. The firm has a 50 day simple moving average of $11.87 and a 200-day simple moving average of $9.42. Brainsway has a 1-year low of $3.92 and a 1-year high of $13.31.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. ARK Investment Management LLC purchased a new position in shares of Brainsway during the 4th quarter worth $2,422,000. Two Sigma Investments LP grew its position in shares of Brainsway by 25.2% in the third quarter. Two Sigma Investments LP now owns 102,902 shares of the company’s stock valued at $1,551,000 after purchasing an additional 20,706 shares during the period. UBS Group AG increased its stake in Brainsway by 2,028.6% in the third quarter. UBS Group AG now owns 63,878 shares of the company’s stock valued at $963,000 after purchasing an additional 60,877 shares during the last quarter. Millennium Management LLC increased its stake in Brainsway by 69.6% in the third quarter. Millennium Management LLC now owns 39,841 shares of the company’s stock valued at $600,000 after purchasing an additional 16,354 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in Brainsway by 7.4% during the third quarter. NewEdge Advisors LLC now owns 28,629 shares of the company’s stock worth $431,000 after buying an additional 1,964 shares during the period. 30.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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