BrainsWay (BWAY) Q2 2026 Earnings Call Transcript

BrainsWay (BWAY) hosted its Q2 2026 earnings call, where the company reported strong financial results. CEO Hadar Levy and CFO Ido Marom led the discussion on recent trends and business updates, followed by a detailed analysis of the financials. The call was followed by a question-and-answer session.

BrainsWay reported a 35% increase in revenue for the second quarter of 2026, reaching $17.1 million compared to $12.6 million in the prior year period. Operating income grew over 300% to $2.4 million, and adjusted EBITDA increased 141% to $3.5 million. Adjusted EBITDA margin expanded to 20% from 11%, marking the company's 12th consecutive quarter of profitability.

The company shipped 125 Deep TMS systems in the quarter, a 42% increase over the same period last year, bringing the installed base to approximately 1,950 systems. Remaining performance obligations increased to $80.4 million as of June 30, 2026, a 30% increase compared to the same period last year. This growth demonstrates strong market demand for Deep TMS and the success of the company's leasing strategy focused on servicing enterprise customers.

BrainsWay believes the expanding clinical evidence for Deep TMS drives broader reimbursement, which in turn supports greater physician confidence and adoption. The company's strategy is built around a powerful growth flywheel with reinforcing growth drivers that build on one another over time. The strength of the Deep TMS platform, supported by extensive peer-reviewed clinical evidence across a range of neuropsychiatric disorders, has resulted in multiple FDA clearances, increasing physician confidence, broader reimbursement support, and accelerated adoption of Deep TMS.