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BrainsWay Ltd. files as a foreign private issuer on Form 6-K, with reports incorporated by reference into its Form S-8 and Form F-3 registration statements. The filings document company updates on Deep TMS and transcranial magnetic stimulation therapy, U.S. reimbursement and payer coverage policies, and strategic investments related to mental health treatment providers and neurostimulation technologies.
The company's filed exhibits also include investor presentation materials and risk-factor discussion covering reimbursement, third-party payor decisions, healthcare regulation, manufacturing, market adoption, competition, product liability, and regulatory actions. These disclosures frame BrainsWay's registration statements, equity incentive registration, and ongoing current-report updates as an Israel-based issuer reporting on Form 20-F.
Brainsway Ltd. executive Dr. Yiftach Roth, the Chief Scientist, filed an initial statement of beneficial ownership showing he holds 1,079,305 Ordinary Shares. This figure includes shares held jointly with his spouse, additional individually held shares, and unvested restricted stock units that vest gradually through 2030.
Brainsway Ltd. executive Dr. Yiftach Roth, the Chief Scientist, filed an initial statement of beneficial ownership showing he holds 1,079,305 Ordinary Shares. This figure includes shares held jointly with his spouse, additional individually held shares, and unvested restricted stock units that vest gradually through 2030.
Brainsway Ltd. VP of Medical Affairs Colleen Hanlon filed an initial Form 3 detailing her equity position in the company. She directly holds 53,881 Ordinary Shares, including 20,381 shares and multiple RSU grants that vest in quarterly installments through dates extending to March 10, 2030. She also holds stock options over 10,000 Ordinary Shares, granted on March 5, 2024, with an exercise price of NIS 11.17 per share and an expiration date of March 5, 2034, with 5,000 of these options scheduled to vest in equal quarterly installments until March 5, 2028.
Brainsway Ltd. VP of Medical Affairs Colleen Hanlon filed an initial Form 3 detailing her equity position in the company. She directly holds 53,881 Ordinary Shares, including 20,381 shares and multiple RSU grants that vest in quarterly installments through dates extending to March 10, 2030. She also holds stock options over 10,000 Ordinary Shares, granted on March 5, 2024, with an exercise price of NIS 11.17 per share and an expiration date of March 5, 2034, with 5,000 of these options scheduled to vest in equal quarterly installments until March 5, 2028.
Brainsway Ltd. director Amiram Boehm filed an initial ownership report showing equity awards tied to the company’s ordinary shares. He holds stock options covering 75,000 ordinary shares granted in February 2023 and 37,500 ordinary shares granted in March 2024, each with quarterly vesting through 2027–2028. He also reports 18,750 unvested restricted stock units that vest quarterly until March 5, 2028, each representing a contingent right to receive one ordinary share. The options carry exercise prices of NIS 4.56 and NIS 11.17 per share and may be exercised into ordinary shares or American Depositary Shares on a one-for-one basis.
Brainsway Ltd. Chief Technology Officer Gilad Moiseyev filed an initial ownership report showing direct holdings of ordinary shares and equity awards. He reports 52,500 ordinary shares (including 7,500 shares and multiple restricted stock unit grants that vest in stages through March 2030). He also holds stock options over 30,000 ordinary shares, granted on March 5, 2024, with remaining options to purchase 15,000 ordinary shares vesting in equal quarterly installments until March 5, 2028. These options carry an exercise price of NIS 11.17 per share and expire on March 5, 2034. The ordinary shares may also be represented by American Depositary Shares, each currently equal to one ordinary share.
Brainsway Ltd. director Jonathan K. Shulkin filed an initial ownership report showing only existing indirect holdings, with no new share purchases or sales. The filing lists Ordinary Shares, which are represented by American Depositary Shares on the market, each equal to one Ordinary Share.
Shulkin reports indirect ownership of 536,494 Ordinary Shares through Tikvah Partners LLC, and 5,314,950 Ordinary Shares through Valor Brainsway Holdings LLC
Brainsway Ltd. director Jonathan K. Shulkin filed an initial ownership report showing only existing indirect holdings, with no new share purchases or sales. The filing lists Ordinary Shares, which are represented by American Depositary Shares on the market, each equal to one Ordinary Share.
Shulkin reports indirect ownership of 536,494 Ordinary Shares through Tikvah Partners LLC, and 5,314,950 Ordinary Shares through Valor Brainsway Holdings LLC
BrainsWay Ltd. reports strong 2025 growth and profitability, highlighting its shift to a recurring-revenue, leasing-based model. Revenue reached $52.2M in 2025, up 27% year over year, with Q4 2025 revenue of $14.5M. Adjusted EBITDA rose to $7M for 2025, also up 27% from 2024, while Q4 2025 Adjusted EBITDA was $2.3M with an EBITDA margin of 16%. Net income for 2025 totaled $7M, an increase of 161%, and the company reported 10 consecutive quarters of positive free cash flow.
BrainsWay ended 2025 with approximately $68M in cash and no debt, and Remaining Performance Obligations of $70M, up 43%. The installed base exceeded 1,700 Deep TMS systems, with about 70% of new engagements structured as multi-year leases. For 2026, the company guides to revenue of $66–$68M and expects recurring revenue to continue outpacing non-recurring revenue, supported by FDA clearances in Major Depressive Disorder, expanded reimbursement, and strategic equity investments in mental health providers.
BrainsWay Ltd. reports strong 2025 growth and profitability, highlighting its shift to a recurring-revenue, leasing-based model. Revenue reached $52.2M in 2025, up 27% year over year, with Q4 2025 revenue of $14.5M. Adjusted EBITDA rose to $7M for 2025, also up 27% from 2024, while Q4 2025 Adjusted EBITDA was $2.3M with an EBITDA margin of 16%. Net income for 2025 totaled $7M, an increase of 161%, and the company reported 10 consecutive quarters of positive free cash flow.
BrainsWay ended 2025 with approximately $68M in cash and no debt, and Remaining Performance Obligations of $70M, up 43%. The installed base exceeded 1,700 Deep TMS systems, with about 70% of new engagements structured as multi-year leases. For 2026, the company guides to revenue of $66–$68M and expects recurring revenue to continue outpacing non-recurring revenue, supported by FDA clearances in Major Depressive Disorder, expanded reimbursement, and strategic equity investments in mental health providers.
BrainsWay Ltd. reported a strong 2025, combining fast growth with higher profitability. Full-year revenue reached $52.2 million, up 27% from 2024, while net income rose 161% to $7.6 million and Adjusted EBITDA increased to about $7.1 million. Q4 revenue grew 27% year-over-year to $14.5 million, with operating income of $1.9 million and net income of $2.9 million.
The company ended 2025 with $68.0 million in cash, cash equivalents and restricted cash and remaining performance obligations of approximately $70 million, up 43% from December 31, 2024. BrainsWay also highlighted regulatory and commercial progress, including FDA label expansion for Deep TMS in adolescent depression, first insurer coverage for its accelerated SWIFT protocol, and FDA approval of Neurolief’s Proliv Rx neuromodulation system.
For 2026, BrainsWay targets revenue of $66 million to $68 million, implying 27% to 30% growth over 2025, and is guiding to operating income of 13% to 14% and Adjusted EBITDA of $12 million to $14 million, while expecting continued profitability and positive cash flow.
BrainsWay Ltd. reported a strong 2025, combining fast growth with higher profitability. Full-year revenue reached $52.2 million, up 27% from 2024, while net income rose 161% to $7.6 million and Adjusted EBITDA increased to about $7.1 million. Q4 revenue grew 27% year-over-year to $14.5 million, with operating income of $1.9 million and net income of $2.9 million.
The company ended 2025 with $68.0 million in cash, cash equivalents and restricted cash and remaining performance obligations of approximately $70 million, up 43% from December 31, 2024. BrainsWay also highlighted regulatory and commercial progress, including FDA label expansion for Deep TMS in adolescent depression, first insurer coverage for its accelerated SWIFT protocol, and FDA approval of Neurolief’s Proliv Rx neuromodulation system.
For 2026, BrainsWay targets revenue of $66 million to $68 million, implying 27% to 30% growth over 2025, and is guiding to operating income of 13% to 14% and Adjusted EBITDA of $12 million to $14 million, while expecting continued profitability and positive cash flow.
BrainsWay Ltd. reported new clinical data on its FDA-cleared SWIFT™ accelerated Deep TMS™ protocol for major depressive disorder. Two peer-reviewed manuscripts in Brain Stimulation show that SWIFT achieves comparable outcomes to the standard Deep TMS protocol while sharply reducing treatment time.
The accelerated protocol shortens the traditional 20-visit acute phase to 6 half days, then weekly maintenance visits for 4 weeks. In a large randomized multisite trial, SWIFT delivered an 87.8% response rate, a 78.0% remission rate, and a median time to remission of 21 days versus 28 days for the standard protocol.
Patient-reported data showed quality-of-life scores improving by about 32 percentage points by 6 weeks, with roughly 70% no longer severely impaired and about 60% reaching normal-range functioning. BrainsWay positions SWIFT as a way to reduce treatment burden and expand access to non-drug depression therapy.
BrainsWay Ltd. reported new clinical data on its FDA-cleared SWIFT™ accelerated Deep TMS™ protocol for major depressive disorder. Two peer-reviewed manuscripts in Brain Stimulation show that SWIFT achieves comparable outcomes to the standard Deep TMS protocol while sharply reducing treatment time.
The accelerated protocol shortens the traditional 20-visit acute phase to 6 half days, then weekly maintenance visits for 4 weeks. In a large randomized multisite trial, SWIFT delivered an 87.8% response rate, a 78.0% remission rate, and a median time to remission of 21 days versus 28 days for the standard protocol.
Patient-reported data showed quality-of-life scores improving by about 32 percentage points by 6 weeks, with roughly 70% no longer severely impaired and about 60% reaching normal-range functioning. BrainsWay positions SWIFT as a way to reduce treatment burden and expand access to non-drug depression therapy.
Brainsway Ltd. reports that Harel Insurance Investments & Financial Services Ltd. beneficially owns 1,981,714 Ordinary Shares, representing 5.2% of the outstanding ordinary shares based on June 30, 2025 share count. The filing states 1,974,472 Ordinary Shares are held for public clients by subsidiaries with independent voting and investment decisions and 7,242 Ordinary Shares are held in third‑party client accounts where the manager has investment but not voting power. The CUSIP cited (10501L106) applies to American Depositary Shares, each representing two ordinary shares.
Brainsway Ltd. reports that Harel Insurance Investments & Financial Services Ltd. beneficially owns 1,981,714 Ordinary Shares, representing 5.2% of the outstanding ordinary shares based on June 30, 2025 share count. The filing states 1,974,472 Ordinary Shares are held for public clients by subsidiaries with independent voting and investment decisions and 7,242 Ordinary Shares are held in third‑party client accounts where the manager has investment but not voting power. The CUSIP cited (10501L106) applies to American Depositary Shares, each representing two ordinary shares.
BrainsWay Ltd. has entered into a strategic equity financing agreement to make a minority investment in Canadian mental health provider BrainStim Health Inc.. BrainsWay will invest $1.0 million initially, with the potential for an additional $1.5 million through two milestone-based investments in a preferred, annually compounding security that includes a redemption mechanism.
This is BrainsWay’s fifth minority-stake investment in growth-oriented clinical service platforms and supports its strategy to expand access to and awareness of Deep TMS mental health treatments while the company continues focusing on scientific, clinical, and commercial advancement of its technology.
BrainsWay Ltd. has entered into a strategic equity financing agreement to make a minority investment in Canadian mental health provider BrainStim Health Inc.. BrainsWay will invest $1.0 million initially, with the potential for an additional $1.5 million through two milestone-based investments in a preferred, annually compounding security that includes a redemption mechanism.
This is BrainsWay’s fifth minority-stake investment in growth-oriented clinical service platforms and supports its strategy to expand access to and awareness of Deep TMS mental health treatments while the company continues focusing on scientific, clinical, and commercial advancement of its technology.