Q4 2024 Brainsway Ltd Earnings Call Transcript
Key Points
- BrainsWay Ltd (BRSYF) reported a 27% year-over-year increase in revenue, reaching $11.4 million for the fourth quarter of 2024.
- The company shipped 75 Deep TMS systems in Q4 2024, marking a 25% increase compared to the same period last year.
- BrainsWay Ltd (BRSYF) achieved a positive book-to-build ratio, indicating strong demand and effective execution by the commercial team.
- The company reported a strong gross margin of 75% for both the fourth quarter and the full year 2024.
- BrainsWay Ltd (BRSYF) generated positive quarterly net income for the fifth consecutive quarter and positive adjusted EBITDA and cash flow from operations for the sixth consecutive quarter.
- Research and development expenses increased to $2 million in Q4 2024 from $1.4 million in the same period in 2023.
- General and administrative expenses rose to $1.6 million in Q4 2024 compared to $1.2 million in Q4 2023.
- The company is not actively pursuing acquisitions, which may limit growth opportunities through external expansion.
- BrainsWay Ltd (BRSYF) faces challenges in expanding reimbursement coverage for OCD treatment in the US.
- The company anticipates maintaining the same gross margin level in 2025, indicating limited immediate improvement in cost efficiency.
Good day and welcome to the Brainsway fourth-quarter and full-year 2024 earnings conference call. (Operator Instructions) Please note this event is being recorded. I would now like to turn the conference over to Brian Ritchie of LifeSci Advisors. Please go ahead.
Thank you, all, and welcome to Brainsway's fourth-quarter and full-year 2024 earnings conference call. With us today are Brainsway's Chief Executive Officer, Hadar Levy, and Chief Financial Officer, Ido Marom.
The format for today's call will be a discussion of recent trends and business updates from Hadar, followed by a detailed discussion of the financials. Then we will open up the call for your questions.
Earlier today, Brainsway released financial results for the three months and full year ended December 31, 2024. A copy of the press release is available on the company's Investor Relations website.
Before I turn the call over to Hadar, I would like to remind you that this conference call, including both
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