Brainsway Ltd. Files 6-K with Q2 2025 Financials

TL;DR

Brainsway Ltd. dropped its Q2 2025 financials in a 6-K filing, showing capital and reserves data.

AI Summary

Brainsway Ltd. filed a 6-K report on September 30, 2025, detailing financial information for the period ending June 30, 2025. The filing includes various financial statement details such as issued capital, share premium, reserves for shared-based payments, warrants, currency translation adjustments, and retained earnings for the periods ending December 31, 2024, and December 31, 2023, as well as for the six months ending June 30, 2025, and June 30, 2024.

Why It Matters

This filing provides investors with updated financial data for Brainsway Ltd., crucial for assessing the company's performance and financial health as of mid-2025.

Risk Assessment

Risk Level: low — This is a routine financial filing (6-K) that provides historical financial data and does not announce new material events or significant changes.

Key Players & Entities

• Brainsway Ltd. (company) — Filer of the report

FAQ

Key Financial Figures

• $1 — e rate of exchange as of June 30, 2025 ($1 = NIS 3.372). The dollar amounts presen

Filing Documents

• f6k_092525.htm (6-K) — 516KB
• 0001171843-25-006185.txt ( ) — 2652KB
• bway-20250630.xsd (EX-101.SCH) — 47KB
• bway-20250630_cal.xml (EX-101.CAL) — 50KB
• bway-20250630_def.xml (EX-101.DEF) — 48KB
• bway-20250630_lab.xml (EX-101.LAB) — 216KB
• bway-20250630_pre.xml (EX-101.PRE) — 162KB
• f6k_092525_htm.xml (XML) — 399KB

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. BRAINSWAY LTD. (Registrant) Date: September 30, 2025 /s/ Hadar Levy Hadar Levy Chief Executive Officer Exhibit 99.1 BRAINSWAY LTD. AND ITS SUBSIDIARIES CONDENSED CONSOLIDATED UNAUDITED INTERIM

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS JUNE 30, 2025 U.S. DOLLARS IN THOUSANDS INDEX TO CONDENSED CONSOLIDATED UNAUDITED INTERIM FINANCIAL Page Condensed consolidated unaudited interim Statements of Financial Position 2 Condensed consolidated unaudited interim Statement of Comprehensive Income 3 Condensed consolidated unaudited interim Statements of Changes in Equity 4 Condensed consolidated unaudited interim Statements of Cash Flows 5 Notes to the condensed consolidated unaudited interim Financial Statements 6 BRAINSWAY LTD. AND SUBSIDIARIES CONDENSED CONSOLIDATED UNAUDITED INTERIM STATEMENTS OF FINANCIAL POSITION U.S. dollars in thousands (except share and per share data) Note June 30, 2025 December 31, 2024 Unaudited Audited ASSETS: Cash and cash equivalents $ 67,912 $ 69,345 Restricted cash 251 271 Short-term deposits 10,087 — Trade receivables, net 3,871 4,596 Inventory 4,190 4,426 Other current financial assets 4 949 — Other current assets 1,771 1,032 Total current assets 89,031 79,670 NON-CURRENT ASSETS: Other non-current financial assets 4 5,459 — System components 3 2,641 1,707 Leased systems, net 3 4,403 3,959 Other property and equipment, net 812 752 Right-of-use assets 5,318 5,530 Other long-term assets 3,900 2,698 Total non-current assets 22,533 14,646 Total assets $ 111,564 $ 94,316 LIABILITIES AND EQUITY CURRENT LIABILITIES: Trade payables $ 1,209 $ 2,868 Deferred revenues 15,646 4,434 Liability in respect of government grants 1,401 1,293 Current maturities of lease liabilities 911 824 Other accounts payable 6,341 5,927 Total current liabilities 25,508 15,346 NON-CURRENT LIABILITIES: Deferred revenues 7,104 3,625 Liability in respect of government grants 5,601 5,803 Lease liabilities 5,219 4,800 Warrants liability 4c — 2,429 Total non-current

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS U.S. dollars in thousands (except share and per share data) NOTE 1: GENERAL a. A general description of the Company and its activity: BrainsWay Ltd. (the "Company") is a leader in advanced non-invasive neurostimulation treatments for mental health disorders. The Company is advancing neuroscience with its proprietary Deep Transcranial Magnetic Stimulation (Deep TMS) platform technology to improve health and transform lives. The Company has obtained from the U.S. Food and Drug Administration (FDA) three cleared indications backed by pivotal studies demonstrating clinically proven efficacy. Current indications include MDD (Major Depressive Disorder), obsessive-compulsive disorder (OCD), and smoking addiction. The Company received its first commercial Deep TMS product clearance from the FDA in 2013, for the treatment of MDD in adult patients who have failed to achieve satisfactory improvement from anti-depressant medication. In April 2021, the Company received FDA clearance for a shorter innovative MDD treatment and in August 2021, the Company received an additional clearance from the FDA for expansion of the existing MDD clearance to include the non-invasive treatment of anxiety symptoms. In 2022, the Company extended its FDA clearance for MDD (including anxious depression) to our H7 Coil, also via the 510(k) process. In May 2024, the FDA cleared an expansion of the Company's MDD clearance allowing for the treatment of patients with late life depression. The expanded clearance covers MDD patients ages 22 to 86, changing the previous upper age limit of 68. The Company received de novo clearance from the FDA in August 2018 for use of its Deep TMS as an adjunct therapy for adult patients suffering from OCD, and a clearance from the FDA in August 2020 for use of its Deep TMS system as an aid in short-term smoking cessation in adults. The Company and its wholly owned subsidiaries, BrainsWay, Inc. ("Inc"), Brain R&D Services Ltd. ("Brain R&D"

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS U.S. dollars in thousands (except share and per share data) NOTE 4: FINANCIAL INSTRUMENTS Financial instruments measured at fair value: Schedule of Financial instruments measured at fair value Balance at June 30, Balance at December 31, 2025 2024 Level 1 Level 3 Total Level 3 Total Fair value through profit and loss: Assets Derivative financial instruments (a) $ 1,408 $ — $ 1,408 $ — $ — Liabilities Warrants (c) — — — ( 2,429 ) ( 2,429 ) Fair value through other comprehensive income: Assets Non-listed equity investments (b) — 5,000 5,000 — — Total current financial assets $ 949 $ — $ 949 $ — $ — Total non-current financial assets $ 459 $ 5,000 $ 5,459 $ — $ — Total non-current financial liabilities $ — $ — $ — $ 2,429 $ 2,429 During the six-month period ending June 30, 2025, there were no material changes in the Company's risk management policies. However, the Company recorded the following notable financial instrument activities: a. Derivative financial instruments The Company has entered several foreign currency forward contracts to protect against changes in the value of forecasted cash flow relating to salaries and related payments, service providers, and office rent expenses denominated in NIS. These contracts are designated as derivative financial instruments measured at fair value through profit or loss, in accordance with IFRS 9. During the six months periods ended June 30, 2025, and 2024, the Company recognized a gain of $ 1,443 , and a loss of $ 69 , respectively on the financial investments denominated in New Israeli Shekels (NIS), due to the appreciation of ILS relative to the U.S. Dollar. The gain was recorded in profit or loss, consistent with the instrument's classification under IFRS 9. b. Investment in Stella Ltd. On June 4, 2025, the Company entered into a strategic equity financing agreeme

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS U.S. dollars in thousands (except share and per share data) NOTE 5: CONTINGENT LIABILITIES, COMMITMENTS AND CHARGES During the six months ended June 30, 2025, the Company repaid approximately $ 600 in respect of refundable projects through royalties to the Israeli Government for participation grants in research and development. During this period, no additional grants were received from the government of Israel. NOTE 6: EQUITY a. Composition of share capital: Schedule of composition of share capital June 30, 2025 December 31, 2024 Authorized Issued and outstanding Authorized Issued and outstanding Number of shares Ordinary shares of NIS 0.04 par value each 120,000,000 37,789,726 120,000,000 37,626,427 b. Movement in share capital: Schedule of issued and outstanding capital Number of shares NIS par value Balance as of January 1, 2025 37,626,427 1,505,057 Vesting of RSU 148,761 5,950 Exercise of share options 14,538 582 Balance as of June 30, 2025 37,789,726 1,511,589 NOTE 7: SHARE BASED PAYMENT a. During the six months periods ended June 30, 2025 and 2024, the Company recorded expenses related to share-based payment plans to employees, directors and consultants of $ 552 and $ 669 , respectively. b. The following table presents the changes in the number and weighted average exercise prices of share options, and the changes in the number of restricted shares: Schedule of share based payment movement of options Options Restricted shares Total Number of options Weighted average exercise price (*) Number of Restricted shares Number of share-based awards Outstanding at January 1, 2025 2,626,113 $ 3.55 428,452 3,054,565 Granted 170,000 5.16 — 170,000 Exercised ( 14,538 ) 4.50 ( 148,761 ) ( 163,299 ) Expired ( 69,462 ) 4.50 — ( 69,462 ) Forfeited ( 46,250 ) 2.89 ( 16,650 ) ( 62,900 ) Outstanding at June 30

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS U.S. dollars in thousands (except share and per share data) NOTE 8: ADDITIONAL INFORMATION TO THE STATEMENTS OF COMPREHENSIVE INCOME a. Revenues: 1. Revenues reported in the financial statements for each group of similar products and services: Schedule of additional information on revenues Six months ended June 30, 2025 2024 Revenues from sale $ 15,740 $ 8,342 Revenues from lease 5,868 9,096 Revenues from sale related service 2,042 1,409 Revenues from other service 518 253 Total revenue $ 24,168 $ 19,100 2. Revenues from major customers, each accounting for 10% or more of total revenues reported in the financial Schedule of Revenues from major customers Six months ended June 30, 2025 2024 Customer A 31 % * ) Customer B * ) 23 % *) Less than 10 % Geographic information: Revenues reported in the financial statements based on the location of the customers are as follows: Schedule of Geographic information Six months ended June 30, 2025 % 2024 % U.S. $ 20,336 84 $ 15,150 79 Other 3,832 16 3,950 21 $ 24,168 100 $ 19,100 100 b. Cost of revenues: Schedule of Cost of revenues Six months ended June 30, 2025 2024 Cost of revenues from sale $ 4,399 $ 2,135 Cost of revenues from lease 1,034 2,040 Cost of revenues from sale related service 383 476 Cost of revenues from other service 243 100 $ 6,059 $ 4,751 NOTE 9: EARNINGS PER SHARE Number of shares and profit used in the computation of basic and diluted earnings per share: Schedule of net loss per share Six months ended June 30, 2025 2024 Weighted number of shares Profit attributable to equity holders of the Company Weighted number of shares Profit attributable to equity holders of the Company For the computation of basic earnings per share 37,705,678 $ 3,134 33,282,725 $ 711 Effect of poten

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS U.S. dollars in thousands (except share and per share data) NOTE 10: BALANCES AND TRANSACTIONS WITH RELATED PARTIES For transactions including change in warrant terms issued to related parties, see Note 4c. NOTE 11: SUBSEQUENT EVENTS 1. On August 18, 2025, the Company completed an initial strategic investment by means of a $ 5,000 convertible loan to, along with an option to acquire, Neurolief Ltd. ("Neurolief"), developer of a non-invasive, multi-channel brain neuromodulation platform that is designed for use at home. The agreement provides for potential additional milestone-based funding to Neurolief, including a second tranche of up to a $ 6,000 convertible loan upon FDA approval of Neurolief's Proliv Rx system for MDD treatment, and a third tranche consisting of up to a $ 5,000 equity investment upon Neurolief achieving an agreed-upon revenue milestone. BrainsWay has also been granted a "call option" to acquire all outstanding equity interests in Neurolief during clearly defined exercise windows, at a price based on the greater of a specified enterprise value or a revenue multiple, with the values varying depending on timing of exercise. 2. On August 19, 2025, the Company entered into a strategic equity financing agreement with Axis Management Company, Inc. ("Axis Integrated Mental Health"), a management services organization that supports several mental health clinics in Colorado. Under the terms of the agreement, the Company will invest an initial amount of $ 2,300 in return for approximately 30% of Axis, in the form of series A preferred stock. The agreement also provides for a potential additional milestone-based investment of up to $ 1,000 , in exchange for an additional approximately 11% equity interest in Axis. In addition, the agreement includes a redemption mechanism relating to the shares. 10 Exhibit 99.2 OPERATING AND FINANCIAL REVIEW AND PROSPECTS This Operating and Financial Review and Prospects provides infor

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View this 6-K filing on SEC EDGAR