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Brainsway Ltd
NASDAQ:BWAY

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Brainsway Ltd
NASDAQ:BWAY
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Price: 23.11 USD 0.09% Market Closed
Market Cap: 392.9m USD

Brainsway Ltd
Investor Relations

Brainsway Ltd. is a commercial stage medical device company, which focuses on the development and sale of non-invasive neuromodulation products using the proprietary Deep Transcranial Magnetic Stimulation (Deep TMS) technology for the treatment of major depressive disorder (MDD) and obsessive-compulsive disorder (OCD). The firm primarily offers Transcranial Magnetic Stimulation (TMS) system, a medical device that enables direct non-invasive activation of deep brain structures. Its TMS system uses magnetic pulses to stimulate neurons and consequently modulates the physiological activity of the brain. TMS system is used in various clinical applications including: major depressive disorders, obsessive-compulsive disorder, smoking addiction and others various psychiatric, neurological, and addiction disorders.

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Last Earnings Call
Fiscal Period
Q1 2023
Call Date
May 17, 2023
AI Summary
Q1 2023

Revenue Trends: Q1 2023 revenue was $6.6 million, down 17% year-over-year but up nearly 10% sequentially compared to Q4 2022, in line with management’s expectations.

System Placements: 48 Deep TMS systems were shipped in Q1, nearly 50% more than the previous quarter, with continued strength internationally and renewed momentum in the U.S.

Cost Optimization: The company executed cost-saving measures in March, with benefits expected to be seen starting in Q2 and more meaningfully in the second half of 2023.

Profitability Goal: BrainsWay reaffirmed its target of breakeven operating income in Q4 2023 and expects full-year revenue growth over 2022.

Reimbursement Progress: Recent insurance policy updates are expanding patient access to Deep TMS, including for non-physician practitioners in certain states.

Clinical Evidence: New data show high response (82%) and remission (65%) rates in depression patients treated with Deep TMS, supporting its real-world effectiveness.

OCD & New Indications: OCD adoption is a key growth driver, with strong demand for the H7 coil both in the U.S. and internationally.

Key Financials
Revenue
$6.6 million
Revenue Impact from Lease
$0.9 million not recognized
Gross Profit
$4.8 million
Gross Margin
73%
Sales and Marketing Expenses
$4.9 million
Research and Development Expenses
$1.8 million
General and Administrative Expenses
$1.8 million
Operating Loss
$3.7 million
Net Loss
$2.4 million
Cash, Cash Equivalents and Short-Term Deposits
$44.3 million
Deep TMS Systems Shipped
48 systems
Installed Base
932 systems
Depression Response Rate (Post-Marketing Data)
82%
Depression Remission Rate (Post-Marketing Data)
65%
Earnings Call Recording
Other Earnings Calls
2023
2022

Management

Mr. Hadar Levy
Chief Executive Officer
No Bio Available
Mr. Avner Hagai
Founder & Director
No Bio Available
Prof. Abraham Zangen
Co-Founder, Member of Scientific Advisory Board & Director
No Bio Available
Dr. Yiftach Roth Ph.D.
Founder & Chief Scientific Officer
No Bio Available
Mr. Ido Marom
Chief Financial Officer
No Bio Available
Mr. Gilead Moiseyev
Chief Technology Officer
No Bio Available
Mr. Menachem C. Klein Esq.
VP, General Counsel & Corporate Secretary
No Bio Available
Mr. Ross Mitchell
Vice President of Global Marketing
No Bio Available
Ms. Hillegonda Groen
Vice President of International Sales
No Bio Available
Dr. Richard A. Bermudes M.D.
Chief Medical Officer
No Bio Available

Contacts

Address
JERUSALEM
19 Hartum Street, Bynet Building, 3Rd Fl, Har HaHotzvim
Contacts
+97225813140.0
www.brainsway.com