BrainsWay Reports Second Quarter 2026 Financial Results and Operational Highlights
BrainsWay Ltd. (NASDAQ, TASE: BWAY) reported Q2 2026 revenue up 35% to $17.1 million. Adjusted EBITDA more than doubled to $3.5 million (20% margin). Remaining performance obligations rose 30% to $80.4 million, and it shipped 125 Deep TMS systems (+42% YoY). The company raised FY2026 revenue guidance to $68-$70 million and Adjusted EBITDA to $13-$14 million.
How this was made
The 30-second read
Why it matters
The combination of record system shipments, rising RPO, and raised FY 2026 guidance provides a clear near-term catalyst for earnings-model revisions and risk-on positioning in the name.
Market read
This is a full quarterly results and guidance raise, with multiple fresh operating metrics (RPO, shipments, installed base) that can drive estimate changes.
What to watch
The guidance update is broad-range; traders may want to watch cash conversion, installed-base utilization sustainability, and any regulatory or payer coverage changes not detailed here.
Background
BrainsWay develops and commercializes noninvasive neurostimulation treatments, with Deep TMS and the SWIFT accelerated protocol supported by insurer coverage expansion.
Ticker impact
BrainsWay reported Q2 2026 revenue up 35% to $17.1M, shipped 125 Deep TMS systems, and raised FY 2026 revenue and EBITDA guidance.
Moderately positive bias for the next few sessions as traders reprice FY 2026 growth and margin trajectory.
The article discloses multiple fresh, decision-relevant datapoints: Q2 financials, RPO visibility, record shipments, and explicit FY 2026 guidance ranges for revenue and Adjusted EBITDA.
Market effects
Reimbursement coverage expansion for Deep TMS (SWIFT protocol) reinforces the broader noninvasive neurostimulation commercialization narrative.
Limited direct regional spillover; primary impact is on US-listed medtech/healthcare growth sentiment.
Global visibility via RPO growth and insurer coverage expansion may influence investor appetite for similar clinical-stage commercialization models.
Counterpoint
High growth and margin expansion could be partially driven by timing of shipments and reimbursement ramp, which may not fully persist into later quarters.
Key entities
- companyBrainsWay Ltd.
NASDAQ and TASE-listed provider of Deep TMS and SWIFT accelerated protocol for mental health disorders.
- product_protocolSWIFT (Short-course with Intrinsic Field Targeting)
Deep TMS protocol referenced for insurer coverage expansion and durability/real-world clinical data.
- executiveHadar Levy
CEO who attributed momentum to reimbursement coverage expansion and utilization growth.
