BrainsWay (BWAY) Investor Presentation summary

Market leadership and technology

• Over 1,600 installed systems and more than 7 million treatments delivered globally.

• Only platform with 4 FDA-cleared indications: MDD, OCD, smoking addiction, and anxious depression.

• Recent FDA clearance for accelerated Deep TMS protocol for MDD.

• Deep TMS technology offers deeper, broader brain stimulation and higher efficacy compared to traditional TMS.

• Extensive patent portfolio with 30+ US and 50+ international patents.

Financial performance and business model

• Q3 2025 revenue reached $13.5M (+29% YoY), with 75% gross margin and $2.0M adjusted EBITDA (+81%).

• Net profit for Q3 2025 was $1.6M (+137% YoY); cash position at ~$71M as of September 30, 2025.

• Recurring revenue model now dominates, with 70% of new deals as multi-year leases and 93% customer retention.

• Remaining performance obligations at $65M, up 37% YoY.

• 10 consecutive quarters of positive free cash flow and no debt.

Growth strategy and partnerships

• Strategic equity investments in mental health providers, targeting 200+ clinics as partners.

• Partnership with Valor Equity Partners, a $20B firm, as largest investor and active scale partner.

• Structured M&A option to expand into at-home neuromodulation via Neurolief, leveraging telemedicine trends.

• International expansion opportunities in Europe, India, China, Japan, and Australia.

• New care settings, territories, and indications drive future growth.