Q1 2025 Brainsway Ltd Earnings Call Transcript
Key Points
- BrainsWay Ltd (BRSYF) reported a 27% year-over-year increase in revenue for Q1 2025, reaching $11.5 million.
- The company shipped 81 Deep TMS systems in Q1 2025, a 42% increase compared to the same period in 2024.
- BrainsWay Ltd (BRSYF) has a backlog and remaining performance obligation totaling nearly $60 million, providing visibility into future growth.
- The company maintains a strong gross margin of 75%, reflecting effective expense management.
- BrainsWay Ltd (BRSYF) continues to expand its market presence, particularly in the US, with increased adoption of Deep TMS for OCD and anxious depression treatments.
- Sales and marketing expenses increased to $4.2 million in Q1 2025 from $3.8 million in Q1 2024.
- Research and development expenses rose to $2.3 million in Q1 2025 from $1.6 million in the same period of 2024.
- General and administrative expenses increased to $1.5 million in Q1 2025 compared to $1.3 million in Q1 2024.
- The company is actively monitoring potential exposure to changes in international trade and tariff policies, which could impact operations.
- BrainsWay Ltd (BRSYF) has not yet implemented a stock repurchase program, despite having $72 million in cash and equivalents.
Good day, and welcome to the BrainsWay first quarter 2025 earnings conference call. (Operator instructions) Please -- 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 first quarter 2025 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 ended March 31, 2025. 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 management's prepared remarks and the question-and-answer session, may contain
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