The coverage expansion strengthens the reimbursement runway for SWIFT, supporting future revenue growth. Monitor upcoming quarterly results for evidence of volume acceleration and any competitive responses from alternative TMS or neurostimulation companies.
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Executive Summary
BrainsWay announced expanded favorable insurance coverage for its SWIFT Accelerated Deep TMS protocol, now covering over 57 million covered lives across eight major payers and the VA. This milestone improves reimbursement access and supports future revenue growth.
Key Facts
- Coverage expanded to over 57 million covered lives for SWIFT Accelerated Deep TMS
- Eight major payers and the US Department of Veterans Affairs now cover or support accelerated TMS treatment approaches
- Latest policy change adds 2 million members in South Carolina
- Follows strong 2025 annual results: 27% revenue growth to $52.2M and net income of $7.6M (per cross-filing 20-F)
Financial Impact
Expanded coverage likely to drive incremental revenue from increased patient access and procedure volumes; no specific revenue impact quantified in filing
Risk Factors
- Competing TMS technologies and potential market share erosion
- Ongoing patent litigation with Magnus Medical as noted in prior annual report
- Reimbursement changes or delays from additional payers
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001171843-26-004211 |
| Document: f6k_062126.htm | 0001171843-26-004211 |
| Document: 0001171843-26-004211-index-headers.html | 0001171843-26-004211 |
| Document: 0001171843-26-004211-index.html | 0001171843-26-004211 |
| Document: 0001171843-26-004211.txt | 0001171843-26-004211 |
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%) |
US Market Status
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