# Brainsway Ltd. > Clarifo company profile — qualitative business description generated from > the company's filings. Financial statements, charts and ratios are > available on Clarifo (https://www.clarifo.com/fi/companies/Brainsway Ltd.). ## Overview BrainsWay Ltd. develops and commercializes noninvasive neurostimulation systems for mental health care, centered on its Deep TMS platform. The company operates internationally from its U.S. and Israel-based footprint and sells into clinical settings that use its systems to treat psychiatric disorders. ## Products & services • Deep TMS neurostimulation systems • Disposable treatment helmets/coils and accessories • Clinical support and training for providers • Service, maintenance, and installed-base support • Strategic minority investments in behavioral health providers - **Deep TMS systems** (70%) — Capital equipment used by clinics and providers to deliver noninvasive neurostimulation therapy. - **Consumables and accessories** (15%) — Treatment helmets, coils, and other recurring items used with installed systems. - **Service and support** (10%) — Installation, training, maintenance, and clinical support for provider sites. - **Strategic investments** (5%) — Minority-stake investments in mental health provider platforms tied to access expansion. - Deep TMS neurostimulation systems - Disposable treatment helmets/coils and accessories - Clinical support and training for providers - Service, maintenance, and installed-base support - Strategic minority investments in behavioral health providers ## Customers BrainsWay sells primarily to behavioral health providers, outpatient clinics, and hospital-based psychiatric programs that want to offer interventional psychiatry services. The buyer is usually a clinic network or enterprise account that can deploy a Deep TMS system and then use it across multiple patients and treatment protocols. The company also works with health-system and platform partners that aim to broaden access to advanced mental health care. - **Outpatient behavioral health clinics** (primary) — Buy Deep TMS systems and treatment support to offer noninvasive therapy to psychiatric patients. - **Health-system psychiatry programs** (secondary) — Adopt systems for hospital-linked or integrated mental health services. - **Multi-site behavioral health platforms** (primary) — Acquire systems across clinic networks to scale interventional psychiatry access. - **Provider partners and referral networks** (secondary) — Work with BrainsWay to expand awareness, patient flow, and treatment access. - Outpatient behavioral health clinics that treat depression and related disorders - Hospital and health-system psychiatry departments - Multi-site provider platforms buying systems for network rollout - Enterprise accounts seeking evidence-based interventional psychiatry tools - Clinics that value clinical training and ongoing support ## Geography BrainsWay operates globally, with corporate roots and operational presence in both the United States and Israel. Recent disclosures highlight commercial activity across North America, including provider relationships in the Northeast and Midwest, while the company also reaches Hebrew-speaking investors and stakeholders in Israel. Its revenue base is tied to where clinics and health systems adopt Deep TMS systems, so geography affects sales execution, service coverage, and reimbursement-related commercialization. - U.S. is a core commercial market for Deep TMS system placements - Israel is part of the company’s operating and investor base - North American provider networks are central to current customer expansion - Clinic location matters because service and training are delivered on site - Geographic mix affects adoption pace and commercialization reach ## Strategy BrainsWay’s strategy is to expand access to interventional psychiatry by placing Deep TMS systems with growth-oriented provider platforms and clinics. The company also uses selective minority investments and partner relationships to strengthen awareness, build referral pathways, and deepen commercial adoption around its technology. At the same time, it emphasizes scientific and clinical advancement of its platform and support to the installed base. - **Partner with growth-oriented clinic platforms** (short-term) — This creates faster market access by aligning with providers that can scale patient volume and system utilization. - **Expand awareness of Deep TMS and interventional psychiatry** (medium-term) — Demand depends on clinician and patient adoption of a specialized mental health treatment modality. - **Grow the installed base and enterprise account relationships** (medium-term) — A larger installed base drives recurring consumables, service demand, and customer retention. - **Continue advancing the clinical and scientific profile of the technology** (long-term) — Clinical evidence underpins adoption, reimbursement conversations, and differentiation versus alternative therapies. - Expand access to Deep TMS through provider partnerships - Use minority investments to support clinic-platform growth - Increase awareness of interventional psychiatry solutions - Grow installed base and strengthen enterprise relationships - Advance clinical evidence and support around the platform ## Risks BrainsWay is exposed to adoption risk because its business depends on clinics and health systems deciding to buy and actively use a specialized treatment platform. It also faces execution risk in commercialization, reimbursement, and partner relationships, since a meaningful part of its go-to-market model relies on provider growth and clinical acceptance. Like other medical technology companies, it must manage regulatory, evidence, and competitive risks around neurostimulation therapies. - **Provider adoption risk** [high] — Revenue depends on clinics and health systems buying systems and using them regularly. - **Reimbursement and access risk** [high] — Mental health treatments can be sensitive to payer coverage and patient affordability. - **Clinical evidence and regulatory risk** [high] — The product’s value proposition depends on approved indications and proven efficacy. - **Partner execution risk** [medium] — The company is tying growth to provider-platform partners that may expand slower than expected. - **Competition in neuromodulation** [medium] — Alternative devices and therapies can compete for clinician attention and budgets. - Clinic adoption can be slow if providers delay capital spending - Reimbursement and utilization affect how quickly installed systems generate demand - Clinical evidence risk matters because therapy adoption depends on outcomes - Partner concentration can create execution risk if platforms underperform - Regulatory and competitive pressure is inherent in medical devices ## Accounting Revenue recognition is important because the company sells a mix of systems, consumables, and support services, which may be recognized at different points in time or over time depending on delivery and obligations. Performance obligations and backlog-like disclosures also matter, since they indicate future revenue that depends on installation, service fulfillment, and customer timing. The strategic equity investments in providers add fair value, credit, and impairment considerations that can affect earnings and the balance sheet. - **Revenue recognition** — Affects quarterly revenue timing and comparability - **Remaining performance obligations** — Impacts revenue visibility and backlog interpretation - **Fair value of strategic investments** — Can affect other income and balance-sheet carrying values - **Non-IFRS adjustments** — Changes how investors assess underlying operating performance - Revenue timing differs between system sales and ongoing support - Remaining performance obligations affect forward revenue visibility - Strategic investments require valuation and impairment judgments - Share-based payments and one-time items can affect non-IFRS metrics - Quarterly results may be uneven because system orders can be lumpy --- *Last updated: 2026-09-28T11:57:58.193013+00:00*