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BrainsWay Ltd.NasdaqGM:BWAY Voorraadrapport

Marktkapitalisatie US$634.1m
Prijs aandeel
US$15.88
US$4.64
241.9% overgewaardeerd intrinsieke korting
1Y204.5%
7D5.3%
1D
Portefeuillewaarde
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BrainsWay Ltd.

NasdaqGM:BWAY Voorraadrapport

Marktkapitalisatie: US$634.1m

BrainsWay (BWAY) Aandelenoverzicht

BrainsWay Ltd. ontwikkelt en verkoopt niet-invasieve neurostimulatiebehandelingen voor psychische stoornissen in de Verenigde Staten en internationaal. Meer informatie

Beloningen

De winst zal naar verwachting met 35.48% per jaar groeien

De winst groeide het afgelopen jaar met 123.6%

Risicoanalyse

Geen risico's gedetecteerd voor BWAY uit onze risicocontroles.

BWAY Community Fair Values

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BrainsWay Ltd. Concurrenten

Prijsgeschiedenis en prestaties

Overzicht van hoogtepunten, dieptepunten en veranderingen in de aandelenkoersen voor BrainsWay
Historische aandelenkoersen
Huidige aandelenkoers₪15.88
52 Week Hoogtepunt₪17.35
52 Week Laag₪5.01
Bèta0.22
1 maand verandering-1.37%
3 maanden verandering37.25%
1 Jaar Verandering204.51%
3 jaar verandering1,725.29%
5 jaar verandering187.42%
Verandering sinds IPO186.38%

Recent nieuws en updates

Seeking Alpha • Apr 24

BrainsWay: Competitive Threats Are Mounting

Summary BrainsWay continues to deliver strong growth and margin improvement, supported by investments in TMS service providers and recurring revenue expansion. BWAY's accelerated protocol and expanded indications, including adolescent depression, are supportive of further growth. TMS is a relatively expensive treatment option though with a high patient burden, making the impeding entry of psychedelics (psilocybin, LSD, DMT) into the market a serious threat. BrainsWay's stretched valuation and rising competitive pressure make this an unattractive entry point, even if momentum drives further upside. Read the full article on Seeking Alpha

Recent updates

Seeking Alpha • Apr 24

BrainsWay: Competitive Threats Are Mounting

Summary BrainsWay continues to deliver strong growth and margin improvement, supported by investments in TMS service providers and recurring revenue expansion. BWAY's accelerated protocol and expanded indications, including adolescent depression, are supportive of further growth. TMS is a relatively expensive treatment option though with a high patient burden, making the impeding entry of psychedelics (psilocybin, LSD, DMT) into the market a serious threat. BrainsWay's stretched valuation and rising competitive pressure make this an unattractive entry point, even if momentum drives further upside. Read the full article on Seeking Alpha
Seeking Alpha • Nov 13

BrainsWay: Cash Flow Doubts Weigh On The Stock

Summary BrainsWay reported strong Q3 growth and gave solid guidance, but its valuation now means that high growth and improving margins are expected. Recent commentary and Valor Equity Partners' investment suggest that BrainsWay will increase its growth investments going forward. This could weigh on the stock, as improving cash flows has been an important driver of BWAY's share price over the past 18 months. Read the full article on Seeking Alpha
Seeking Alpha • Aug 13

BrainsWay: Operating Leverage Driving Upside

Summary BrainsWay reported strong earnings in Q2, with growth remaining strong and margins continuing to improve. Growth among enterprise accounts and internationally should ensure BrainsWay continues to perform well, provided that the macro environment remains stable. Neuronetics' decision to merge with Greenbrook TMS seems to support the strength of BrainsWay's business. While BrainsWay's share price has generally been trending higher, the company's valuation remains low given its cash balance and earnings trajectory. Read the full article on Seeking Alpha
Seeking Alpha • Jul 22

BrainsWay: An Interesting Niche Concern

Summary The stock of neurostimulation medical device concern BrainsWay has doubled since late October. The company has a niche and intriguing way to treat a variety of mental health disorders. BrainsWay has solid revenue growth and a rock-solid balance sheet as well, even if the company gets little attention from analyst firms. Can the rally continue in the shares?  An analysis follows in the paragraphs below. Read the full article on Seeking Alpha
Seeking Alpha • Mar 07

BrainsWay: Profitable, Growing, And Cheap

Summary BrainsWay reported strong growth and a small profit in the fourth quarter of 2023. The company also gave strong guidance for 2024. Recent strength internationally and amongst larger customers is expected to persist. In addition, the commercialization of smoking cessation and ongoing trials could provide a further boost. The market is yet to fully price in the strength of BrainsWay's business, meaning the stock should continue to rerate higher as BrainsWay's profitable growth trajectory becomes more recognized. Read the full article on Seeking Alpha
Seeking Alpha • Feb 27

BrainsWay Q4 Earnings Preview

Summary BrainsWay will announce Q4 and full-year 2023 earnings pre-market on March 6, 2024. BWAY is expected to close in on profitability in Q4, and earnings consensus is largely aligned around that possibility. While the Company has upside potential from growth markets and expanded treatments, they are equally challenged by competition and a lack of recurring revenue. With growth rates of 40%+ needed to sustain the current price, there is an insufficient margin of safety to enter the stock. Read the full article on Seeking Alpha
Seeking Alpha • Sep 14

BrainsWay gets significant private insurance coverage from Cigna for OCD treatment Utilizing Deep TMS

BrainsWay (NASDAQ:BWAY) announced that Cigna announced positive coverage applicable to Deep Transcranial Magnetic Stimulation (or TMS) for the treatment of obsessive-compulsive disorder (or OCD). Cigna will be issuing an updated revision to its TMS medical coverage policy effective September 15, 2022 extending coverage to patients aged 18 and older diagnosed with OCD. “The establishment of this positive coverage for OCD further facilitates BrainsWay’s ability to capitalize on its leadership role in advancing treatment of this debilitating condition. More importantly, the continued reimbursement momentum for Deep TMS is resulting in increased access of our unique therapy that is critical to our mission of improving the health and transforming the lives of those suffering from disorders with limited treatment options.” said Christopher von Jako, PhD, President and CEO.
Seeking Alpha • Aug 29

BrainsWay adds 20% on FDA nod for depression therapy

Brainsway Ltd. (NASDAQ:BWAY), a healthcare equipment maker focused on psychiatric care, announced Monday that the FDA issued 510(k) clearance for the company's Deep TMS H7 Coil as a treatment for adults suffering from depression. BWAY shares climbed ~20% in reaction to the news. Deep TMS H7 Coil is based on a noninvasive method to treat depression called Transcranial Magnetic Stimulation which uses magnetic fields to stimulate the brain's nerve cells to improve symptoms. With the decision, Deep TMS H7, which was in the market since 2018 to treat obsessive-compulsive disorder, will also be indicated to treat major depressive disorder. "….expanding depression clearance to the Deep TMS H7 Coil provides them with another powerful non-pharmaceutical tool," remarked BWAY's Chief Executive Christopher von Jako. Recently, BWAY announced that Israel offered coverage for its Deep TMS™ system as a treatment for depression.
Seeking Alpha • Aug 10

Brainsway GAAP EPS of -$0.07 in-line, revenue of $8.01M misses by $0.41M

Brainsway press release (NASDAQ:BWAY): Q2 GAAP EPS of -$0.07 in-line. Revenue of $8.01M (+14.4% Y/Y) misses by $0.41M.
Seeking Alpha • Jul 12

BrainsWay's Shares Look Attractive

The company boasts state-of-the-art technology with multi-usable helmets for different indications and more indications likely to be approved. International sales are another growth opportunity where the company has hardly scratched the surface. The shares are modestly valued, given 30%+ revenue growth and 75%+ gross margins, even if there is little in the way of operational leverage and profits are not near. The company isn't without competition though, and these are not sitting still either. BrainsWay (BWAY) has interesting technology called TMS or transcranial magnetic stimulation, which has been shown to be helpful in the treatment of a number of conditions and is already FDA approved for several of these. The company has a more sophisticated and efficient device compared to the competition and this enables it to rapidly scale revenues. Given that the company still has a lot of cash, for now, it is prioritizing growth over profits. Growth opportunities are plentiful still in already approved treatments both in the US and abroad, but there are a host of additional conditions that are likely to receive FDA approval, significantly increasing the company's TAM. Roughly half of the company's revenue comes from high-margin recurring revenue and the company enjoyed a 78% gross margin in 2021. FinViz The TMS technology From the March 2022 IR presentation: BWAY IR presentation There are several different coils for different indications BWAY 10-K There are multiple advantages of the therapy: Non-invasive No anesthesia required Well tolerated 3-20-minute sessions Easy to administer There are a lot more of these slides in the linked IR presentation that explain the workings further, as well as the treatment and cost-effectiveness and the advantages over the competition: BWAY IR presentation Business model Sales Fixed-fee lease Risk share The last two models generate a recurring revenue stream. Since OCD and smoking cessation are only offered in the risk share or fixed lease models, recurring revenues are set to rise as a percentage of revenue. Growth There is a steady 30%+ or so revenue growth that was interrupted by the pandemic: Data by YCharts The main growth vectors are: Additional customers Additional reimbursement Additional applications International expansion Applications The company's TMS technology is approved for three types of disorders: MDD major depressive disorder (2013), including 3-minute Theta Burst protocol (2021). OCD obsessive-compulsive disorder (2018) Smoking addiction (2020) Anxious depression (2021), although this is usually subsumed under MDD These are large markets: BWAY IR presentation And the TAM from the already approved treatments is very large, $11B: BWAY IR presentation Progress in getting more of the TAM is dependent on several dimensions: Education, marketing, and sales Reimbursement Competition Education and market awareness Before one can sell relatively new medical devices one has to educate the market and convince potential adopters of the advantages. The company does this with the help of a multi-pronged approach: BWAY IR presentation Market awareness is increased through Industry partnerships with advocacy groups and professional organizations, as well as digital marketing campaigns: BWAY IR presentation Its organic web traffic increased 46% in Q1 and they apply an innovative web chatbot H-Coil which logged nearly 50 sales meetings with clinics and 1200 engagements with interested parties, 20% of which led to further inquiries. Management will also increase its use of social media and participate in medical conferences on-site and online. Marketing and sales BWAY IR presentation The company hired the experienced Eric Hirt as their new Vice President of Sales The company is building out the sales infrastructure by going from two regions with 18 territory sales managers to three regions with 21 territory sales managers. They have 8 Practice development consultants and 11 field clinical engineers supporting their 21 territory sales managers. Reimbursement BWAY IR presentation There are already 3 CPT codes for the three approved treatments, but there is still progress to be made for reimbursement. For MDD, already some 6.3M out of 7M treatment-resistant patients are eligible for reimbursement, that is, 90% of the addressable population. Management believes OCD will achieve a similar ratio, and a significant step was taken at the beginning of Q1 with ((PR)): a final Local Coverage Determination (LCD) has been published providing coverage applicable to the BrainsWay Deep TMS™ system for the treatment of obsessive-compulsive disorder (OCD). The final LCD was issued by the Medicare Administrative Contractor ((MAC)) Palmetto GBA, which covers Medicare patients in Alabama, Georgia, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia, representing over 9 million covered lives. This brings the total number of lives eligible for OCD reimbursement on the company's device to roughly 60M. Palmetto also increased the population for reimbursement for depression and anxious depression as it reduced the requirement of four failed medications to so now 60%+ of Medicare patients are eligible. There was further good news on the reimbursement front from Highmark BCBS (6.8M lives covered) and Israel. The company is also launching a customer support program in May with respect to reimbursement. Smoking cessation isn't yet reimbursed and this isn't guaranteed to arrive anytime soon, or even at all either. Additional applications There are more to come: BWAY IR presentation The one recent approval (apart from anxious depression, which is subsumed under depression) is smoking cessation. Not even mentioned is Parkinson's disease, despite a first study showing considerable effectiveness, although lacking longer-term follow-up data. Smoking cessation BWAY IR presentation After an initial phase, smoking addiction is now in full market release although much will depend on positive reimbursement decisions for which the company is gathering additional data. There is data available indicating the effectiveness of their TMS interventions: BWAY IR presentation Widespread reimbursement isn't guaranteed though as TMS is fairly expensive and in line with other cessation methods like nicotine replacement therapies (especially in combination with behavioral therapy) but it could catch reimbursement for patients who do not respond to alternatives. Even without reimbursement, there is likely a market for their helmets as there are pay-per-use models that make adoption easier, although the market will be much smaller. What does this all add up to? SA contributor Richard Durant has produced a useful calculation of the company's TAM: Richard Durant calculation We have to note though that this is much less than what the company argues in its 20-F, take for instance MDD (our emphasis): approximately 6.3 million or more are currently eligible to receive reimbursement for Deep TMS from either governmental or private insurers. Assuming a course of treatment per patient of 33 treatment sessions and a price paid to us per treatment session of $70 (which is our benchmark price per treatment session), we believe our total annual addressable market opportunity for MDD in the United States is approximately $14.6 billion.
Seeking Alpha • Jan 21

BrainsWay's Competitive Advantage Is Growing

BrainsWay has clearance for an expanding number of indications, which is supportive of continued growth. There is also growing evidence of the cost-effectiveness of TMS, which should lead to wider insurance coverage. BrainsWay’s stock remains depressed despite the steady flow of positive developments over the past 2 years. BrainsWay will likely need to achieve profitability before the company’s value is realized.

Rendement voor aandeelhouders

BWAYUS Medical EquipmentUS Markt
7D5.3%-3.5%1.3%
1Y204.5%-21.9%27.7%

Rendement versus industrie: BWAY overtrof de US Medical Equipment industrie, die het afgelopen jaar een rendement -21.9 % opleverde.

Rendement versus markt: BWAY overtrof de US markt, die het afgelopen jaar een rendement opleverde van 27.7 %.

Prijsvolatiliteit

Is BWAY's price volatile compared to industry and market?
BWAY volatility
BWAY Average Weekly Movement7.5%
Medical Equipment Industry Average Movement8.5%
Market Average Movement7.2%
10% most volatile stocks in US Market16.6%
10% least volatile stocks in US Market3.0%

Stabiele aandelenkoers: BWAY heeft de afgelopen 3 maanden geen significante prijsvolatiliteit gekend vergeleken met de US markt.

Volatiliteit in de loop van de tijd: De wekelijkse volatiliteit ( 7% ) van BWAY is het afgelopen jaar stabiel geweest.

Over het bedrijf

OpgerichtWerknemersCEOWebsite
2003129Hadar Levywww.brainsway.com

BrainsWay Ltd. ontwikkelt en verkoopt niet-invasieve neurostimulatiebehandelingen voor psychische aandoeningen in de Verenigde Staten en internationaal. Het biedt Deep Transcranial Magnetic Stimulation-platformtechnologie voor de behandeling van depressieve stoornissen, angststoornissen en late depressie, obsessieve-compulsieve stoornissen, rookverslaving, bipolaire stoornissen, posttraumatische stressstoornissen, schizofrenie, de ziekte van Alzheimer, autisme, chronische pijn, multiple sclerose, revalidatie na een beroerte en de ziekte van Parkinson. Het bedrijf bedient artsen, ziekenhuizen en medische centra op het gebied van psychiatrie.

BrainsWay Ltd. Samenvatting

Hoe verhouden de winst en inkomsten van BrainsWay zich tot de beurswaarde?
BWAY fundamentele statistieken
MarktkapitalisatieUS$634.12m
Inkomsten(TTM)US$8.76m
Inkomsten(TTM)US$56.22m
72.4x
Koers/Winstverhouding
11.3x
P/S-verhouding

Is BWAY overgewaardeerd?

Zie Reële waarde en waarderingsanalyse

Inkomsten en omzet

Belangrijkste winstgevendheidsstatistieken uit het laatste winstverslag (TTM)
BWAY resultatenrekening (TTM)
InkomstenUS$56.22m
Kosten van inkomstenUS$13.77m
BrutowinstUS$42.45m
Overige uitgavenUS$33.69m
InkomstenUS$8.76m

Laatst gerapporteerde inkomsten

Mar 31, 2026

Volgende inkomensdatum

n.v.t.

Winst per aandeel (EPS)0.22
Brutomarge75.51%
Nettowinstmarge15.58%
Schuld/Eigen Vermogen Verhouding0%

Hoe presteerde BWAY op de lange termijn?

Bekijk historische prestaties en vergelijking

Bedrijfsanalyse en status van financiële gegevens

GegevensLaatst bijgewerkt (UTC-tijd)
Bedrijfsanalyse2026/05/28 23:08
Aandelenkoers aan het einde van de dag2026/05/28 00:00
Inkomsten2026/03/31
Jaarlijkse inkomsten2025/12/31

Gegevensbronnen

De gegevens die gebruikt zijn in onze bedrijfsanalyse zijn afkomstig van S&P Global Market Intelligence LLC. De volgende gegevens worden gebruikt in ons analysemodel om dit rapport te genereren. De gegevens zijn genormaliseerd, waardoor er een vertraging kan optreden voordat de bron beschikbaar is.

PakketGegevensTijdframeVoorbeeld Amerikaanse bron *
Financiële gegevens bedrijf10 jaar
  • Resultatenrekening
  • Kasstroomoverzicht
  • Balans
Consensus schattingen analisten+3 jaar
  • Financiële prognoses
  • Koersdoelen analisten
Marktprijzen30 jaar
  • Aandelenprijzen
  • Dividenden, splitsingen en acties
Eigendom10 jaar
  • Top aandeelhouders
  • Handel met voorkennis
Beheer10 jaar
  • Leiderschapsteam
  • Raad van bestuur
Belangrijkste ontwikkelingen10 jaar
  • Bedrijfsaankondigingen

* Voorbeeld voor effecten uit de VS, voor niet-Amerikaanse effecten worden gelijkwaardige formulieren en bronnen gebruikt.

Tenzij anders vermeld zijn alle financiële gegevens gebaseerd op een jaarperiode, maar worden ze elk kwartaal bijgewerkt. Dit staat bekend als Trailing Twelve Month (TTM) of Last Twelve Month (LTM) gegevens. Meer informatie.

Analysemodel en Snowflake

Details van het analysemodel dat is gebruikt om dit rapport te genereren zijn beschikbaar op onze Github-pagina. We hebben ook handleidingen over hoe je onze rapporten kunt gebruiken en tutorials op YouTube.

Leer meer over het team van wereldklasse dat het Simply Wall St-analysemodel heeft ontworpen en gebouwd.

Industrie en sector

Onze industrie- en sectormetrics worden elke 6 uur berekend door Simply Wall St, details van ons proces zijn beschikbaar op Github.

Bronnen van analisten

BrainsWay Ltd. wordt gevolgd door 5 analisten. 3 van deze analisten hebben de schattingen van de omzet of winst ingediend die zijn gebruikt als input voor ons rapport. Inzendingen van analisten worden de hele dag door bijgewerkt.

AnalistInstelling
Raghuram SelvarajuH.C. Wainwright & Co.
Jeffrey CohenLadenburg Thalmann & Company
Carl ByrnesNorthland Capital Markets