Brainsway Ltd · TASE:BWAY
Brainsway — Investor Presentation (August 2026)
18 slides from Brainsway's investor presentation, August 2026
Slide 1: Leading the next phase of interventional psychiatry
Leading the next phase of interventional psychiatry Technology. Evidence. Scale. Growth. INVESTOR DECK | AU G U ST 2 0 2 6 Nasdaq / TASE: BWAY
Slide 2: Safe Harbor and Non-GAAP/IFRS Financial Measures
DISCLAIMER Safe Harbor and Non-GAAP/IFRS Financial Measures This presentation does not constitute an offer or invitation to sell or issue, or any solicitation of an offer to subscribe for or acquire, any securities of the Company, nor to participate in any investment. This presentation shall not con
Slide 3: Interventional Psychiatry Has Reached an Inflection Point
WHY NOW Interventional Psychiatry Has Reached an Inflection Point Psychiatry never lacked effective treatments — it lacked scalable interventional care. BrainsWay solves scalability. 8.5M+ 300M+ +25% Deep TMS sessions delivered1 Covered lives2 New provider sites YoY1 Proven, growing clinical demand
Slide 4: From Deep TMS Device to Commercial Platform
THE EVOLUTION From Deep TMS Device to Commercial Platform BrainsWay is no longer a TMS company — every growth initiative now leverages one commercial infrastructure. 2015 2020 2026 → Deep TMS SWIFT Platform Device Company Technology Leader Commercial Platform First to market with a differentiated, p
Slide 5: The Category Leader With Scale, Science & Access
WHY BRAINSWAY WINS The Category Leader With Scale, Science & Access Deep TMS is now a mainstream, reimbursed pillar of psychiatry — and BrainsWay leads on scale, science and access. 4 8.5M+ 1,950 FDA indications Sessions delivered Systems installed Only Deep TMS platform cleared across four. Real-wo
Slide 6: A $15B+ Market — Less Than 2% Penetrated
THE MARKET OPPORTUNITY A $15B+ Market — Less Than 2% Penetrated A large, underpenetrated market where reimbursement is already in place — and the addressable base keeps expanding. SIZING THE OPPORTUNITY 300M+ Covered lives Reimbursement already in place. $15B+5 Global Interventional Psychiatry TAM 1
Slide 7: Every Success Creates the Next Layer of Growth
THE GROWTH FLYWHEEL Every Success Creates the Next Layer of Growth Clinical leadership creates access → access drives adoption → adoption generates data and cash → capital fuels innovation and expansion. Expand Clinical Evidence Grow Installed Base 1 New indications · published & real-world 4 Higher
Slide 8: A Model Built to Compound — With Clear Line of Sight
BUSINESS MODEL & VISIBILITY A Model Built to Compound — With Clear Line of Sight Every system becomes a long-term asset — a one-time hardware sale transformed into high-margin, multi-year recurring revenue. 4-5 Yrs 90%+ 1.3x Multi-year leasing Customer retention8 Book-to-bill Typical contract term (
Slide 9: Why Clinics Keep Expanding
CUSTOMER ECONOMICS Why Clinics Keep Expanding One chair leads to a second, then a third, then a second clinic — compelling economics drive enterprise-wide rollout. R O B U S T R E I MB U R S E ME N T S I N G L E - CHAI R E CO NO MI CS 3 established CPT codes ~$900K–$1.0M Well-defined billing across
Slide 10: From 20 Days to 6 Days
THE SWIFT ADVANTAGE From 20 Days to 6 Days The only FDA-cleared 6-day accelerated Deep TMS protocol — a significantly faster path to relief. STANDAR D PROTOCOL SWIFT PROTOCOL 20 days Treatment days in the acute phase – before FASTER 6 days Only 6 treatment days in the acute phase – before maintenanc
Slide 11: Building a Proprietary Clinic Network
STRATEGIC INVESTMENTS Building a Proprietary Clinic Network Capital. Patients. Infrastructure. Equity stakes facilitate partnership and increased patient access to care. TH E P AR T N E R S H I P M O D E L B AC K E D B Y Valor Equity Partners 200+ Potential partners in the pipeline. A ~$100B firm an
Slide 12: Extending Treatment Beyond the Clinic
CONTINUUM OF CARE Extending Treatment Beyond the Clinic One platform follows the patient across the entire care journey — from clinic, into the home, through continuous digital monitoring. STAGE 1 STAGE 2 STAGE 3 1 Clinic 2 Home 3 Digital Monitoring › › In-clinic Deep TMS & SWIFT anchor the At-home
Slide 13: A Multi-Billion-Dollar International Opportunity
GLOBAL EXPANSION A Multi-Billion-Dollar International Opportunity We are not entering these markets — we are scaling established commercial partnerships across regions with hundreds of millions9 of untreated patients. 71M 37M China Europe 170M + 6M Japan 1.3M 57M Australia India Untreated patients a
Slide 14: Financial Results Validate the Thesis
Q2 2026 PERFORMANCE Financial Results Validate the Thesis Record system shipments are converting into revenue growth, high margins, profitability and cash. SYSTEMS SHIPPED 125 +35% 75% +141% +42% year-over-year Revenue growth Gross margin Adj. EBITDA RPO +$80M +314% $62.4M +34% +30% year-over-year O
Slide 15: Revenue Growing Far Faster Than Costs
OPERATING LEVERAGE Revenue Growing Far Faster Than Costs Recent revenue growth >30% while targeted OPEX growth stays <15% — profitability compounds. $ in millions Revenue 90 73 +30-34% growth 70 53 51 OPEX 40 41 41 <15% growth 36 32 28 29 14 7 5 Adj. EBITDA -2 2023 2024 2025 2026E $13-14M in 2026E B
Slide 16: Why BrainsWay, Why Now
THE INVESTMENT CASE Why BrainsWay, Why Now 01 The market is inflecting. Interventional psychiatry is going mainstream. 02 BrainsWay leads. The only Deep TMS platform with 4 FDA indications. 03 The economics compound. Strong recurring revenue, 90%+ retention, operating leverage. 04 The platform expan
Slide 17: Building the Global Platform for Interventional Psychiatry.
Building the Global Platform for Interventional Psychiatry. One Platform Millions of Patients Decades of Growth NASDAQ / TASE: BWAY 17
Slide 18: References
APPENDIX References 1. Data on file 2. See company reimbursement database; published payer policies; and sec.gov/Archives/edgar/data/1735948/000110465921043982/tm2111152d1_ex99-1.htm 3. BrainsWay Data on File; Depth, measured in phantom head, is from cortical surface toward brain center for which E-