Brainsway Business Summary

BrainsWay Ltd. (BWAY) operates a hybrid revenue model centered on its proprietary Deep Transcranial Magnetic Stimulation (Deep TMS) technology, generating income through a mix of direct system sales, long-term leases, and high-margin recurring session-based fees, which now account for over 50% of total revenue. The company’s primary business segments target treatment-resistant mental health conditions, with FDA-cleared indications for Major Depressive Disorder (MDD), Obsessive-Compulsive Disorder (OCD), and smoking addiction. As of early 2026, BrainsWay has expanded its clinical footprint into adolescent depression and is pioneering accelerated treatment protocols to increase patient throughput. In the competitive landscape, BrainsWay maintains a dominant position in the Deep TMS niche against direct rivals such as Neuronetics (NeuroStar), Magnus Medical, and MagVenture, distinguishing itself as the only provider with three pivotal-study-backed FDA clearances and a growing network of strategic investments in clinical service platforms like BrainStim Health. The company was founded by a multidisciplinary team including Chief Scientific Officer Dr. Yiftach Roth, Dr. Abraham Zangen, Dr. David Zacut, and Avner Hagai, whose foundational research at the NIH led to the development of the H-Coil technology. The current executive leadership is headed by CEO Hadar Levy, who has overseen the firm's transition to sustained profitability and its recent 2026 stock split, supported by CFO Ido Marom, CTO Gilead Moiseyev, and CMO Dr. Richard Bermudes. BrainsWay’s strategic direction is further guided by Independent Chairman Ami Boehm and a board featuring deep clinical and financial expertise. Notable institutional backing includes significant positions held by Valor Management LLC, ARK Investment Management, and Masters Capital Management, reflecting strong investor confidence in the company’s expanding total addressable market and its leadership in the non-invasive neurostimulation sector.