BrainsWay Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	56.22	52.23	41.02	31.79	27.18	29.66
Revenue Growth (YoY)	29.37%	27.33%	29.04%	16.96%	-8.36%	34.46%
Cost of Revenue	13.77	12.84	10.44	8.31	7.13	6.6
Gross Profit	42.45	39.39	30.58	23.48	20.05	23.06
Selling, General & Admin	26.55	25.46	22	21.77	25.05	21.66
Research & Development	10.15	9.6	7.19	6.67	7.68	6.39
Operating Expenses	36.7	35.06	29.19	28.44	32.73	28.06
Operating Income	5.75	4.32	1.39	-4.96	-12.68	-5
Interest Expense	-1.3	-1.56	-1.25	-0.85	-1.19	-1.23
Interest & Investment Income	2.46	3.01	2.48	2.17	1.11	0.23
Currency Exchange Gain (Loss)	-0.57	-0.57	-0.16	-0.06	-0.25	-0.36
Other Non Operating Income (Expenses)	2.52	2.52	1	-0.25	-0.01	-0.05
EBT Excluding Unusual Items	8.86	7.71	3.46	-3.95	-13.03	-6.42
Pretax Income	8.86	7.71	3.46	-3.95	-13.03	-6.42
Income Tax Expense	0.1	0.14	0.54	0.25	0.32	0.04
Net Income	8.76	7.58	2.92	-4.2	-13.35	-6.46
Net Income to Common	8.76	7.58	2.92	-4.2	-13.35	-6.46
Net Income Growth	123.59%	159.33%	-	-	-	-
Shares Outstanding (Basic)	38	38	34	33	33	31
Shares Outstanding (Diluted)	38	40	35	33	33	31
Shares Change (YoY)	3.85%	13.91%	4.87%	0.53%	5.86%	38.75%
EPS (Basic)	0.23	0.20	0.09	-0.13	-0.40	-0.21
EPS (Diluted)	0.22	0.18	0.06	-0.13	-0.40	-0.21
EPS Growth	176.91%	229.13%	-	-	-	-
Free Cash Flow	11.58	15.15	6.5	-1.1	-9.76	-1.35
Free Cash Flow Per Share	0.30	0.38	0.19	-0.03	-0.30	-0.04
Gross Margin	75.51%	75.42%	74.56%	73.86%	73.77%	77.75%
Operating Margin	10.23%	8.28%	3.39%	-15.60%	-46.67%	-16.86%
Profit Margin	15.58%	14.51%	7.12%	-13.20%	-49.12%	-21.79%
Free Cash Flow Margin	20.60%	29.00%	15.86%	-3.47%	-35.91%	-4.57%
EBITDA	6.62	5.12	2.68	-3.62	-11.15	-3.31
EBITDA Margin	11.77%	9.80%	6.53%	-11.39%	-41.02%	-11.17%
D&A For EBITDA	0.86	0.79	1.29	1.34	1.53	1.69
EBIT	5.75	4.32	1.39	-4.96	-12.68	-5
EBIT Margin	10.23%	8.28%	3.39%	-15.60%	-46.67%	-16.86%
Effective Tax Rate	1.11%	1.75%	15.55%	-	-	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.