Q2 2025 Brainsway Ltd Earnings Call Transcript
Key Points
- BrainsWay Ltd (BRSYF) reported record quarterly revenue of $12.6 million, a 26% increase compared to the same period last year.
- The company shipped 88 Deep TMS systems during the quarter, a 35% increase from the previous year, bringing the total install base to 1,522 systems.
- Recurring revenue streams through multi-year lease agreements now make up approximately 70% of customer engagements, providing stability and visibility into future revenues.
- BrainsWay Ltd (BRSYF) has a backlog of signed agreements with remaining performance obligations totaling approximately EUR $62 million.
- The company is advancing its R&D roadmap and expanding patient access through global expansion and health system integration, supported by regulatory approvals and clinical data.
- Operating expenses increased, with sales and marketing costs rising by $1.1 million and research and development expenses increasing by $0.6 million compared to the previous year.
- General and administrative expenses rose by $0.2 million, mainly due to additional legal fees and due diligence costs related to new investments.
- The company is actively working on reimbursement improvements for the accelerated Deep TMS protocol, which may face challenges in matching current reimbursement structures.
- The strategic investment initiative requires significant capital outlay, with plans to sign multiple contracts involving investments ranging from $2 million to $5 million each.
- Despite strong revenue growth, the operating profit remained approximately $600,000, in line with the same period last year, indicating potential margin pressures.
Good day and welcome to the Brainsway second quarter 2025 earnings conference call.
(Operator Instructions)
I would now like to turn the conference over to Garth Russell with investor relations from Lifesci Advisors. Please go ahead.
Thank you all and welcome to Brainsway's second 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 June 30, 2025. A copy of this 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 answer
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