The filing confirms strong operating momentum with record shipments and expanding profitability. Monitor next 20-F for sustained revenue growth above 30% and continued improvement in adjusted EBITDA guided at $13-14M for FY2026. The accelerated adoption of Deep TMS and SWIFT protocol supports a positive medium-term outlook.
Price Chart
Executive Summary
Brainsway Ltd. furnished an August 2026 investor deck via Form 6-K, presenting strong H1 2026 financial results: revenue grew +35% year-over-year, net income +34%, adjusted EBITDA +141%, and system shipments rose +42% to 125 units. The filing reiterates the company's strategic positioning as a Deep TMS platform leader with 4 FDA indications, expanding reimbursement, and a capital-light clinic network model. The deck is forward-looking and promotional in nature, reinforcing the growth narrative established in the prior 20-F annual report.
Key Facts
- Q2 2026 system shipments of 125 units, up +42% year-over-year.
- Revenue growth of +35%, net income +34%, adjusted EBITDA +141%.
- Gross margin reported at 75%.
- Remaining Performance Obligations (RPO) grew +$80 million (+30% year-over-year).
- Operating income increased +314%, cash balance at $62.4 million.
- 90%+ customer retention rate and 1.3x book-to-bill ratio.
- More than 1,950 systems installed across 48 states and 6 continents.
- Valor Equity Partners (largest investor) backs strategic clinic network expansion.
- Home therapy enabled via $11M convertible investment in Neurolief with call option.
- Filed on Form 6-K under cover of the 1934 Act, incorporated by reference into existing F-3 and S-8 registration statements.
Financial Impact
Revenue $52.2M in FY2025; H1 2026 revenue +35% YoY; Adj. EBITDA +141%; net income +34%; cash $62.4M
Risk Factors
- Reliance on single large customer as noted in prior annual filing.
- Patent litigation with Magnus Medical remains a potential overhang.
- Forward-looking statements are promotional and not guaranteed; reimbursement changes could slow adoption.
- International expansion carries execution risk across multiple regulatory jurisdictions.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001171843-26-005454 |
| Document: f6k_081226.htm | 0001171843-26-005454 |
| Document: 0001171843-26-005454-index-headers.html | 0001171843-26-005454 |
| Document: 0001171843-26-005454-index.html | 0001171843-26-005454 |
| Document: 0001171843-26-005454.txt | 0001171843-26-005454 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 8, 2026 24d ago | 6-K | $14.16 $13.63 | ▼ −3.74% | ▼ −3.08% | $12.71 (−10.24%) |
Aug 27, 2026 5w ago | 6-K | $14.40 $14.51 | ▲ +0.76% | ▲ +0.50% | $12.71 (−11.74%) |
Aug 12, 2026 7w ago | 6-K | $16.47 $14.97 | ▼ −9.11% | ▼ −7.14% | $12.71 (−22.83%) |
Aug 12, 2026 7w ago | 6-K | $16.60 $15.17 | ▼ −8.61% | ▼ −8.17% | $12.71 (−23.43%) |
Aug 12, 2026 7w ago | Press Release | $16.60 $15.17 | ▼ −8.61% | ▼ −8.17% | $12.71 (−23.43%) |
Jul 20, 2026 10w ago | 6-K | $16.50 $15.97 | ▼ −3.21% | ▼ −2.79% | $12.71 (−22.97%) |
Jul 16, 2026 11w ago | 6-K | $14.84 $16.51 | ▲ +11.25% | ▲ +12.92% | $12.71 (−14.35%) |
Jun 29, 2026 13w ago | Press Release | $15.17 $16.02 | ▲ +5.60% | ▲ +4.22% | $12.71 (−16.22%) |
Jun 22, 2026 14w ago | 6-K | $14.38 $15.17 | ▲ +5.49% | ▲ +5.95% | $12.71 (−11.61%) |
May 18, 2026 19w ago | Press Release | $14.88 $15.89 | ▲ +6.79% | ▲ +5.17% | $12.71 (−14.58%) |
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