The 35% revenue growth, record system shipments, and 25% RPO expansion confirm accelerating adoption. With $58.6M cash and reiterated guidance implying 27-30% full-year growth, the stock should re-rate higher. Watch for FDA clearance for PTSD in MDD (Q2 2026 filing) as a major catalyst.
Price Chart
Executive Summary
BrainsWay reported Q1 2026 revenue of $15.5M (+35% YoY) and net income of $2.3M (+107% YoY), both well above consensus estimates of $14.6M and $0.05 EPS. The company reiterated full-year 2026 guidance of $66-68M revenue and $12-14M Adjusted EBITDA, while shipping a record 117 Deep TMS systems and growing RPOs 25% to $75M.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $15.5M, +35% YoY vs $11.5M
- Net income $2.3M, +107% YoY vs $1.1M
- GAAP EPS $0.06 vs consensus $0.05 (beat)
- Adjusted EBITDA $2.8M, +117% YoY
- Record 117 Deep TMS systems shipped, +44% YoY
- RPOs $75M, +25% YoY
- Gross margin 75%, steady YoY
- Operating income $2.0M vs $0.6M YoY
- Cash and equivalents $58.6M
- Reiterated FY2026 guidance: revenue $66-68M, operating income 13-14%, Adjusted EBITDA $12-14M
- FDA submission planned for PTSD in MDD in Q2 2026
- First insurer coverage for accelerated SWIFT protocol secured
Financial Impact
Revenue beat by $0.9M (6.2%) vs $14.6M consensus; EPS $0.06 vs $0.05 consensus (20% beat); Adjusted EBITDA doubled to $2.8M
Risk Factors
- Reiterated guidance may be conservative given Q1 beat — any future miss would disappoint
- Investment in Neurolief ($11M total) and BrainStim ($1M) carry execution risk
- Dependence on expanding insurance coverage for continued growth
- Cash burn from investing activities ($9.3M in Q1) could pressure balance sheet
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3293884 |
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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