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BrainsWay (BWAY) investor relations material
BrainsWay Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved record Q2 2025 revenue of $12.6M, a 26% increase year-over-year, with 88 Deep TMS systems shipped, up 35% from last year, and installed base reaching 1,522 systems.
Net profit rose 233% to $2.0M compared to Q2 2024; operating profit was $0.6M, and adjusted EBITDA increased to $1.5M.
Multi-year lease agreements now comprise 70% of customer engagements, with $62M in remaining performance obligations, up 25% year-over-year.
Strategic focus on market awareness, R&D for new indications, global expansion, and partnerships with Stella MSO and Valor Equity Partners.
Deep TMS remains the only FDA-cleared TMS modality with broad clinical evidence for multiple indications.
Financial highlights
Q2 2025 revenue was $12.6M, up from $10M in Q2 2024, with gross profit at $9.5M and gross margin stable at 75%.
Net profit reached $2M, up from $0.6M in Q2 2024; basic EPS $0.05.
Adjusted EBITDA increased to $1.5M from $1.3M year-over-year.
Cash, equivalents, and short-term deposits totaled $78.3M as of June 30, 2025.
Operating cash flow for Q2 2025 was $12.4M, up from $1.3M in Q2 2024.
Outlook and guidance
Full-year 2025 revenue guidance raised to $50M–$52M, representing 22%–27% growth over 2024.
Expected operating profit margin of 4%–5% and adjusted EBITDA margin of 12%–13% for 2025.
Recurring revenue streams from multi-year agreements support improved visibility.
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