A 141% jump: The medical technology giant BrainsWay breaks records
After an exceptionally strong quarter, the Israeli company is raising its forecasts for 2026 and presenting dramatic clinical data for the treatment of PTSD and clinical depression, alongside a huge backlog of orders.
BrainsWay, which develops solutions for non-invasive treatment of brain disorders using the Deep TMS platform, concludes the second quarter of 2026 with a series of strong results, continued expansion of business activity, and an increase in forecasts for the rest of the year.
The company's revenue for the quarter totaled approximately 17.1 million dollars, an increase of about 35% compared to the same quarter last year. At the same time, the adjusted operating profit, Adjusted EBITDA, totaled approximately 3.5 million dollars, a jump of 141% compared to the same quarter. The adjusted operating profit margin reached about 20% of revenue.
Significant strengthening was also recorded in operating and net profit lines. Operating profit rose by more than 300% and totaled approximately 2.4 million dollars, reflecting a profit margin of 14%. Net profit totaled approximately 2.7 million dollars, an increase of 34% compared to the same quarter.
Alongside the improvement in profitability, the company presented a positive cash flow from current operations of 6.3 million dollars. The cash balance, including cash, cash equivalents, and restricted cash, stood at approximately 62.4 million dollars at the end of June.
A record was also set in commercial activity. During the quarter, BrainsWay delivered 125 Deep TMS systems, an increase of 42% compared to the previous year. As a result, the company's installed base of systems reached approximately 1,949 units. At the same time, the backlog of future orders, RPO, grew by about 30% and reached approximately 80.4 million dollars.
The company also presented new clinical data, including an 83.5% response rate among patients suffering from PTSD combined with clinical depression, alongside an average decrease of 52% in symptom scores. In addition, BrainsWay continues to expand insurance coverage for the accelerated SWIFT protocol, with clinical data presented indicating improvement that lasts for 12 months from the time of treatment.
Parallel to business and clinical activity, the company continues strategic investments in minority stakes in companies, including Hopemark Health and Radial Health, with the goal of expanding patient access to the treatments offered by BrainsWay.
Following the results, the company raised its forecasts for 2026. Revenue is expected to total in the range of 68 to 70 million dollars, reflecting growth of 30% to 34% compared to 2025 (previous forecast of 66 to 68 million dollars). The Adjusted EBITDA forecast was raised to a range of 13 to 14 million dollars, reflecting growth of 90% to 100% compared to the previous year. The operating profit margin is expected to be 13.5% to 14% of revenue.
BrainsWay CEO Hadar Levi noted that the company is benefiting from business momentum resulting from the expansion of insurance coverage and the increasing use of the systems. The results indicate continued expansion in the company's activity, alongside a significant improvement in profitability and the ability to generate positive cash flow.
