Welcome to our dedicated page for Brainsway Ltd. SEC filings (Ticker: BWAY), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The BrainsWay Ltd. (BWAY) SEC filings page on Stock Titan provides access to the company’s regulatory disclosures as a foreign private issuer listed on NASDAQ and the Tel Aviv Stock Exchange. BrainsWay files reports with the U.S. Securities and Exchange Commission primarily on Form 20-F and Form 6-K, which together give investors insight into its Deep TMS™ business, financial condition, and material developments.
BrainsWay’s Form 20-F annual report contains audited financial statements, risk factors, a description of its Deep TMS platform and indications, and details on its operations in the United States and Israel. Interim and event-driven updates are furnished on Form 6-K, which the company often uses to submit press releases and investor materials covering topics such as FDA clearances, payer coverage expansions, clinical trial launches, NIH grants, strategic investments, shareholder meeting results, and quarterly financial results.
While BrainsWay’s filings are not structured as 10-K or 10-Q reports because it is a foreign issuer, investors can use the available 20-F and 6-K documents to answer many of the same questions: how the company describes its Deep TMS technology, what indications are cleared, how it reports revenue from leasing and selling systems, and what risks it highlights in relation to mental health and addiction treatment markets. Filings may also reference registration statements on Form F-3 and Form S-8, which relate to capital-raising and equity compensation arrangements.
On Stock Titan, BrainsWay filings are updated in near real time from EDGAR, and each document can be reviewed alongside AI-generated summaries that explain key points in accessible language. Users can quickly scan 6-K exhibits for new clinical, regulatory, or financial information, and then drill into the full text when deeper analysis is needed. This structure helps investors follow BWAY’s evolving regulatory and financial narrative without manually parsing every filing line by line.
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. 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. 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. 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. filed a Form 6-K highlighting a policy change by Cigna Group’s Evernorth Behavioral Health, which serves over 18 million covered lives across 12 states. Evernorth will stop requiring prior authorization for transcranial magnetic stimulation (TMS) for contracted providers under Evernorth and Cigna Healthcare plans, effective March 6, 2026.
BrainsWay’s CEO said eliminating prior authorizations should expand timely access to TMS for patients who meet Evernorth’s criteria, including those with major depressive disorder and obsessive-compulsive disorder. The company notes its Deep TMS systems are already widely adopted in the U.S. and that it remains focused on expanding access to its three FDA-cleared indications.
BrainsWay Ltd. is changing the ratio of its American Depositary Shares (ADSs) traded on Nasdaq to match its ordinary shares on the Tel Aviv Stock Exchange. The ratio will shift from 2 ordinary shares per 1 ADS to a new 1-to-1 structure, effective before trading begins on March 3, 2026.
Each existing ADS holder will receive one additional ADS for every ADS currently held, which is economically similar to a 2-for-1 forward split of the ADSs. Because each ADS will represent half as many ordinary shares as before, the trading price of the ADSs is expected to be roughly halved after the change, without altering the underlying economic ownership.
The company’s ADSs will continue to trade on Nasdaq under the symbol BWAY, and its ordinary shares will continue to trade on the Tel Aviv Stock Exchange, with no change to the ordinary shares themselves. Management states that the goal is to simplify capital structure comparisons across exchanges and potentially enhance liquidity and accessibility for U.S. investors.