BrainsWay (BWAY) Investor presentation summary

Market leadership and technology

• Over 1,800 treatment centers installed and more than 7.5 million treatments delivered globally.

• Four FDA-cleared indications: MDD, OCD, smoking addiction, and anxious depression.

• Deep TMS technology offers deeper, broader brain stimulation than traditional TMS, with unique clinical and operational advantages.

• Only platform with FDA-cleared accelerated protocol, adolescent and late-life depression, and at-home neuromodulation capabilities.

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

Financial performance and business model

• Q1 2026 revenue grew 35% YoY to $15.5M; net income more than doubled to $2.3M; adjusted EBITDA up 117% to $2.8M.

• Recurring revenue model with $18.3M ARR and 20% YoY growth; 93% customer retention rate.

• Remaining performance obligations (RPO) rose 25% to $75M; 11 consecutive quarters of positive free cash flow.

• Clean balance sheet with $59M cash and no debt as of March 2026.

• 2026 guidance: $66–68M revenue, 13–14% operating income margin, $12–14M adjusted EBITDA.

Strategic growth initiatives

• Strategic partnership with Valor Equity Partners, now the largest investor, supporting scale strategy.

• Minority stakes in five mental health providers, targeting 10–15 new clinics annually per deal.

• Structured M&A option for Neurolief to expand into at-home neuromodulation, tapping telemedicine growth.

• International expansion targeting large depression populations in Europe, India, China, Japan, and Australia.

• Roadmap includes new indications, care settings, and global expansion.