NASDAQ · Financial Statements

BrainsWay Ltd. (BWAY) Financial Statements

$16.56 NASDAQ: BWAY Market Cap $649.53M

BrainsWay Ltd. most recently reported annual revenue of $52.0M, net profit of $8.0M. Revenue grew at an average annual rate of 18.8% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

BrainsWay Ltd.: Revenue rose from $12.0M in 2016 to $52.0M in 2025, a change of +333.3% over 9 years; net profit was positive in 2 of 10 reported years; operating margin moved from -17.9% to 8.3%, a shift of +26.2 percentage points; the most recent year shows net profit of $8.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$12.0M$11.0M$16.0M$23.0M$22.0M$30.0M$27.0M$32.0M$41.0M$52.0M
Operating Expenses$14.0M$18.0M$22.0M$32.0M$27.0M$35.0M$40.0M$37.0M$40.0M$48.0M
Operating Profit$-2.0M$-7.0M$-5.0M$-8.0M$-5.0M$-5.0M$-13.0M$-5.0M$1.0M$4.0M
Operating Margin-17.9%-59.3%-31.2%-36.7%-21.9%-16.9%-46.7%-15.6%3.4%8.3%
Other Income$0$0$-1.0M$-1.0M$0$-1.0M$0$1.0M$2.0M$3.0M
Interest$0$0$0$1.0M$0$0$0$0$1.0M$2.0M
Depreciation$1.0M$1.0M$1.0M$3.0M$2.0M$2.0M$2.0M$1.0M$2.0M$2.0M
Profit Before Tax$-2.0M$-7.0M$-6.0M$-10.0M$-5.0M$-6.0M$-13.0M$-4.0M$3.0M$8.0M
Tax$0$-2.5M$-3.3M$-4.3M$-4.6M$-670,000$-2.4M$-6.4M$15.6M$1.0M
Net Profit$-2.0M$-7.0M$-6.0M$-10.0M$-5.0M$-6.0M$-13.0M$-4.0M$3.0M$8.0M
EPS$-0.17$-0.48$-0.39$-0.50$-0.24$-0.21$-0.43$-0.13$0.09$0.36
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricJun '23Sep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26
Revenue$8.0M$8.0M$9.0M$9.0M$10.0M$11.0M$11.0M$12.0M$13.0M$14.0M$15.0M$16.0M
Operating Expenses$9.0M$8.0M$-1.0M$9.0M$9.0M$10.0M$11.0M$11.0M$12.0M$12.0M$13.0M$14.0M
Operating Profit$-1.0M$0$10.0M$0$1.0M$0$0$1.0M$1.0M$1.0M$2.0M$2.0M
Operating Margin-17.1%-1.6%111.9%1.0%5.9%2.7%3.8%5.0%4.6%9.3%13.2%12.9%
Interest$1.0M$0$0$0$0$0$0$1.0M$1.0M$1.0M$0$0
Profit Before Tax$-1.0M$0$0$0$1.0M$1.0M$2.0M$1.0M$2.0M$2.0M$3.0M$2.0M
Tax$-12.5M$-34.5M$443.2M$60.8M$14.7M$10.2M$10.8M$12.4M$3.3M$13.4M$-15.4M$5.0M
Net Profit$-2.0M$0$0$0$1.0M$1.0M$2.0M$1.0M$2.0M$2.0M$3.0M$2.0M
EPS$-0.05$-0.01$0.00$0.00$0.02$0.04$0.04$0.02$0.05$0.04$0.14$0.12

Over the 10 years reported for BrainsWay Ltd., borrowings increased from $1.0M in 2016 to $7.0M in 2025, cash stood at $68.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 3.86 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$20.0M$27.0M$24.0M$39.0M$34.0M$76.0M$64.0M$63.0M$94.0M$113.0M
Current Assets$13.0M$18.0M$13.0M$29.0M$24.0M$65.0M$58.0M$55.0M$80.0M$85.0M
Cash$9.0M$15.0M$9.0M$22.0M$17.0M$17.0M$48.0M$11.0M$69.0M$68.0M
Inventory$1.0M$0$0$0$0$0$4.0M$4.0M$4.0M$7.0M
Receivables$3.0M$3.0M$4.0M$6.0M$6.0M$6.0M$5.0M$4.0M$5.0M$4.0M
Fixed Assets$7.0M$7.0M$8.0M$15.0M$10.0M$9.0M$5.0M$6.0M$12.0M$12.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$0$0$0$0$0$40.0M$0$35.0M$0$16.0M
Other Assets$0$0$0$0$0$0$0$0$0$0
Total Liabilities$10.0M$14.0M$17.0M$15.0M$14.0M$18.0M$19.0M$21.0M$32.0M$40.0M
Current Liabilities$4.0M$6.0M$8.0M$7.0M$7.0M$9.0M$8.0M$10.0M$15.0M$22.0M
Borrowings$1.0M$3.0M$3.0M$0$1.0M$1.0M$0$0$6.0M$7.0M
Other Liabilities$9.0M$12.0M$14.0M$14.0M$14.0M$18.0M$19.0M$21.0M$26.0M$33.0M
Equity$0$0$0$0$0$0$0$0$0$0
Reserves$10.0M$13.0M$7.0M$24.0M$20.0M$57.0M$45.0M$42.0M$62.0M$73.0M

For BrainsWay Ltd., operating cash flow was positive in 4 of 10 reported years; free cash flow in the latest year was $16.0M; free cash flow was positive in 2 of 10 years; financing activities used $1.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$-2.0M$-3.0M$-4.0M$-7.0M$-1.0M$1.0M$-10.0M$1.0M$10.0M$18.0M
Investing Cash Flow$-1.0M$-3.0M$-3.0M$-6.0M$-5.0M$-44.0M$52.0M$-40.0M$27.0M$-19.0M
Financing Cash Flow$1.0M$0$0$0$-1.0M$0$-1.0M$-1.0M$2.0M$-1.0M
Net Cash Flow$-2.0M$5.0M$-6.0M$13.0M$-5.0M$0$31.0M$-37.0M$59.0M$-2.0M
Free Cash Flow$-3.0M$-4.0M$-6.0M$-11.0M$-4.0M$-1.0M$-10.0M$-1.0M$7.0M$16.0M

Valuation & Return Ratios

MetricValue
PEG Ratio0.79
EV / EBITDA82.72
FCF Yield1.71%
Quick Ratio3.04
Interest Coverage2.89
Return 1Y173.72%
Return 3Y1282.88%
Return 5Y266.78%

BrainsWay Ltd. (BWAY) financials — frequently asked questions

What is BrainsWay Ltd.'s annual revenue?

BrainsWay Ltd. (BWAY) reported annual revenue of $52.0M in its most recent fiscal year.

What is BrainsWay Ltd.'s net profit?

BrainsWay Ltd. (BWAY) reported net profit of $8.0M in its most recent fiscal year.

What is BWAY EV/EBITDA?

BrainsWay Ltd.'s enterprise value to EBITDA (EV/EBITDA) ratio is 82.72.

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